The rapid-fire closure of Australian Associated Press (AAP) will be locked in by major shareholders News Corp and Nine when they get together at an extraordinary general meeting on Wednesday this week to change the company’s constitution and ban the delivery of its key services.
This notice of meeting was sent by company secretary Emma Luxford to AAP’s four shareholders on March 5, giving just six days' notice to vote in this amended constitution which will enshrine the closure from June 26.
EGMs normally require 28 days' notice, so the four shareholders are also being asked to sign this consent form for a quickie meeting that requires approval from 95% of the shares on issue. They’ll need the three biggest shareholders -- News Corp and Nine with around 44% each and Seven West Media with 8% -- to achieve this. The smallest shareholder is Antony Catalano’s Australian Community Media with just under 3%.