ISS Joins Glass Lewis in Recommending Shareholders Vote FOR Palliser’s Proposal at Rio Tinto’s AGM

March 19, 2025 08:00 PM AEDT | By Business Wire

Google News:

ISS Joins Glass Lewis in Recommending Shareholders Vote FOR Palliser’s Proposal at Rio Tinto’s AGM — Image source: Kalkine Media

Recent News

AECOM to accelerate Australia’s energy transition as technical advisor...

First Year of Greenlight Partnership Reaches More Than 67,000 Families

Asian Millennial Women Use Their Buying Power To Protect the Environme...

Eaton’s “Factories as a Grid” Approach Helps Manufacturing Companies A...

- Second leading independent proxy advisor supports Palliser’s proposal to conduct a proper examination into the unification of Rio Tinto’s DLC structure

- ISS finds Rio Tinto Board’s “arguments and assumptions lack detail and are difficult to reconcile with the BHP experience and public information…”

LONDON--(BUSINESS WIRE)--Palliser Capital (“Palliser”) today welcomed the endorsement of leading independent proxy advisory firm Institutional Shareholder Services (“ISS”) of its resolution at the Annual General Meeting (AGM) for Rio Tinto Plc (LSE:RIO) on April 3, 2025. This follows Glass Lewis’ endorsement on 14 March 2025.

ISS notes that the BHP transaction particularly sets “a precedent that is difficult to dismiss”, evidently unconvinced by Rio Tinto’s explanation in its recent letter to shareholders that “BHP’s facts and circumstances were materially different than Rio Tinto’s”. In support of Palliser’s position, ISS states that “unification appears to bring several benefits, like reduced complexity and lower chance of conflict of interest, strategic flexibility and, for Plc shareholders, a closing of the valuation discount of their shares.”

James Smith, founder and Chief Investment Officer of Palliser, said: “We are very pleased that the most trusted voices for voting guidance have both supported our resolution. This sends a very clear message to Rio Tinto – it must step up and deliver the fully independent and transparent review that shareholders deserve on a topic of such critical importance.”

All information relating to Palliser’s long-running engagement with Rio Tinto and its AGM proposal can be found at: UnifyRio.com.

About Palliser Capital

Palliser Capital is a global multi-strategy fund. Our value-oriented investment philosophy is applied to a broad range of opportunities throughout the capital structure with a focus on situations where positive change and value enhancement can be achieved through thoughtful, constructive and long-term engagement with companies and across a range of different stakeholder groups.
Contacts

Media
Prosek Partners
Forrest Gitlin / Kiki Tarkhan / Brian Schaffer
[email protected]

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (“Kalkine Media, we or us”), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary.
The content published on Kalkine Media also includes feeds sourced from third-party providers. Kalkine does not assert any ownership rights over the content provided by these third-party sources. The inclusion of such feeds on the Website is for informational purposes only. Kalkine does not guarantee the accuracy, completeness, or reliability of the content obtained from third-party feeds. Furthermore, Kalkine Media shall not be held liable for any errors, omissions, or inaccuracies in the content obtained from third-party feeds, nor for any damages or losses arising from the use of such content.
Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyrighted to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have made reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.
This disclaimer is subject to change without notice. Users are advised to review this disclaimer periodically for any updates or modifications.