Southern Cross Media Group (ASX:SXL) said shareholders representing over 50% of the company's voting capital confirmed their support for the current board and management following the notices received from Sandon Capital, according to a Monday filing with the Australian bourse.
The notices from Sandon Capital stated that they intend to move resolutions at the next general meeting to remove Heith Mackay-Cruise, Ido Leffler, Carole Campbell, and Marina Go as directors, the filing said.
The company board and its major shareholders believe it would not be in the best interests of all shareholders to support the proposed resolutions.
The company said it is urging Sandon to withdraw the notice, according to the filing.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.