As many of The Intelligent Investor’s members will now know, we have begun an action to change the composition of the RHG board. You can subscribe to stay up to date with the developments by visiting the RHG shareholder action website and entering your email address into the “register for updates” section.
If you are a shareholder of RHG, you will have an opportunity to vote on the makeup of RHG’s board at the general meeting. You will shortly receive a notice of meeting from the Company informing you of the date of the meeting.
We are proposing to remove one of the current directors and replace him with two directors more representative of the Company’s diverse shareholder base. If the proposal is successful, the two new directors intend to work with RHG’s three remaining directors to develop and communicate a clear plan for the maximisation of shareholder value. This will include, where possible, the return of excess cash to shareholders in the form of fully-franked dividends.
At the general meeting, members will have the ability to vote each resolution independently. We strongly encourage other members to support the proposals to reconstruct the RHG board.
To read the full letter to shareholders, please visit this link : Letter to RHG shareholders.
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Forager Funds is a boutique fund manager specialising in a value investing approach. We offer an ASX listed Australian Shares Fund as well as an International Shares Fund both aimed at delivering returns for long term investors.