Rio Tinto ( (GB:RIO) ) has issued an update.
Rio Tinto’s Board has recommended shareholders vote against a resolution proposed by Palliser Capital to unify its dual-listed company structure into an Australian-domiciled holding company. The Board argues that such a unification would be value destructive, citing comprehensive reviews and consultations with shareholders that concluded the current structure is beneficial. The Board emphasizes that the proposed unification would incur significant tax costs and potentially impact dividend payments, and it refutes claims of value loss under the current structure. The Board remains open to ideas that align with sustainable long-term value but sees no need for further review of the dual-listed structure at this time.
More about Rio Tinto
Rio Tinto is a global leader in the mining industry, focusing on the extraction and production of minerals such as iron ore, aluminum, and copper. The company is committed to delivering sustainable shareholder value through strategic growth and optimizing its portfolio for strong cash generation.
YTD Price Performance: 7.73%
Average Trading Volume: 2,896,322
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: £83.19B
See more data about RIO stock on TipRanks’ Stock Analysis page.