Rio Tinto Faces Shareholder Pressure Over Dual-Listed Structure

Activist investors and proxy firms push for a review, while Rio Tinto reaffirms opposition ahead of April 3 vote.

Palliser Capital, backed by over 100 shareholders, has proposed a resolution to review Rio Tinto's dual-listed structure in London and Sydney.
Proxy advisory firms ISS and Glass Lewis have recommended shareholders support the proposal, citing potential benefits like reduced complexity and improved valuation.
Rio Tinto opposes the review, stating unification would harm shareholder value and emphasizing its prior comprehensive review of the structure.
Australian shareholders have expressed concerns that unification could erode value, contrasting with arguments from London-based stakeholders.
The shareholder vote on the proposal is scheduled for April 3, 2025, in London, with further discussions planned for May 1 in Perth, Australia.