Rio Tinto’s decision to grant its Australian shareholders the opportunity to vote on a resolution calling for an independent review of its dual-listing structure has been welcomed by London-based activist hedge fund Palliser Capital.
The global mining giant amended the notice of its annual general meeting (AGM) on Tuesday, ensuring that shareholders of Rio Tinto Limited — the company’s Australian-listed entity — can cast their votes on the proposed review.
Palliser Capital, which has been advocating for governance changes at Rio Tinto, has been pushing for an assessment of whether the dual-listing structure, which splits Rio Tinto’s corporate base between London and Sydney, remains in the best interest of shareholders.
