October 7, 2018 / 9:23 PM / 2 months ago

New Zealand's NZX rejects shareholder's demands

Oct 8 (Reuters) - The board of New Zealand’s NZX Ltd on Monday rejected six demands from investment firm Elevation Capital, a shareholder that holds about 2.3 percent of New Zealand’s stock exchange operator.

One of the key demands was for Elevation to be granted three directors on the NZX board and for the written resignations of three current NZX directors.

Elevation had also demanded that NZX adopt a strategy called '#NZXNOW', the details of which it published last week, and appoint a former NZX staff member to work on the implementation of the strategy. (bit.ly/2NtDSdW)

Elevation Capital was not immediately available for comment.

Reporting by Devika Syamnath in Bengaluru; Editing by Peter Cooney

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