SCA shareholders look to remove board and management
Three of Southern Cross Austereo’s largest shareholders are looking to remove the company’s board and management as they continue to drag their feet on the ARN takeover bid.
Spheria Asset Management, Allan Gray, and Ubique Asset Management, who hold over a quarter of SCA shares between them, indicated plans to call an extraordinary general meeting after a lucklustre first-half financial result was posted yesterday.
