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OCEANIA CAPITAL UPSETS SHAREHOLDERS WITH ITS GENEROUS RIGHTS ISSUE

29 Nov HCI Australia

OCEANIA Capital Partners, formerly Allco Equity Partners, has generated some shareholder dissent over what is being regarded as generous treatment of the company’s major shareholder in relation to a recently announced rights issue.

Oceania implemented a restructure last year in which it returned $170 million via a share buyback at $2.15 a share and a capital return of 30c a share.

Source: The Australian – Bryan Firth