Business
AMP board narrowly escapes spill; ASX slips as Beach Energy dives; Asahi buys Allpress coffee – ABC News
The ASX closes lower as angry AMP shareholders come close to sparking a spill motion against the company’s board and Beach Energy loses almost a quarter of its…
The Australian share market closed moderately lower, as AMP’s board narrowly escaped facing a spill motion and Beach Energy stocks took a massive hit.
Key points:
- The ASX 200 lost 0.8 per cent to end the week at 7,026 points
- Beach Energy was the standout loser, plunging 24.1pc as it downgraded its reserves estimates
- AMP’s board narrowly survived a second strike against it, with a remuneration report no vote of 23.8 per cent just short of the required 25 per cent
Angry shareholders came close to rejecting…
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