Rio Tinto rejects call for dual-listing review

Investing.com-- Rio Tinto (LON:RIO) (ASX:RIO) has reaffirmed its commitment to its dual-listed structure and advised shareholders to vote against a resolution seeking a review of its listing framework, the company said in a statement on Wednesday.

The resolution, proposed by Palliser Capital and other investors, called for an independent committee to assess whether unifying Rio Tinto’s dual-listed structure under an Australian-domiciled entity would benefit shareholders.

Rio Tinto’s board rejected the proposal, citing a recent comprehensive review conducted with input from external advisers, which concluded that unification would be value-destructive.

The company said a restructuring would lead to significant tax costs and potential inefficiencies, while also dismissing claims that its current structure has eroded shareholder value.

The board urged shareholders to vote against the resolution at its upcoming annual general meetings in April and May.

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