Southern Cross Media Group (ASX:SXL) said the Australian government's Takeovers Panel has varied its orders regarding shareholder ARN Media's ability to vote to vote its shares on proposed board spill resolutions at the upcoming general meeting, according to a Wednesday filing with the Australian bourse.
The restrictions on 3% of ARN's shareholding will cease to apply at the end of each six-month period from July 1, the filing said.
The varied orders may also prevent ARN from voting some or all of the relevant shares on the resolutions, the filing added.
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