Australia's Link Administration down; court approves scheme meeting for unit

Link Administration Holdings

13/10/2023 05:16

** Shares of Link Administration Holdings Ltd  LNK.AX  fall
as much as 4.1% to A$1.290 - worst day since Sept. 27
    ** LNK marks its second consecutive day of losses
    ** Registry firm says court gave Link Fund Solutions
permission to call a scheme meeting regarding settlement of
investigation over a failed equity income fund
    ** Adds size of the board will reduce from 8 to 6
    ** Co expects scheme will be effective after second court
hearing, expected on Jan. 18, 2024
    ** LNK shares down ~32% since last year, as of last close 

 (Reporting by Sherin Sunny in Bengaluru)
 ((Sherin.Sunny@thomsonreuters.com;))