Murray Goulburn proposal to delist MG unit trust

Company News

by Anna Napoli

The Murray Goulburn Co-operative  has put forward a proposal to delist the MG Unit Trust (ASX:MGC) from the ASX.

The dairy Co-op says based on inquiries with insurance advisors it expects the business could significantly reduce future insurance premiums by delisting.

The Board of the Murray Goulburn is set to seek approval from unitholders in relation to the proposed move early next year.

Murray Goulburn says any reduction in future insurance premiums is a cost saving for the benefit of shareholders and unitholders.

MG Unit Trust is a special purpose funding vehicle which provides its unitholders with an economic exposure to the business of Murray Goulburn Co-operative Co.

Shares in MG Unit Trust (ASX:MGC) closed 1.64 per cent lower at $0.30 yesterday.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.