AUSTRALIA: IWIF under pressure again

By Tony Baker | 2 September 2003

Rebel unitholders in Australia's International Wine Investment Fund have renewed their attempt to wind up the company.

A majority voted for the fund to continue last July after major changes resulting from the American Constellation Brands take-over of the BRL Hardy group in which IWIF was the biggest shareholder.

Chief executive of Berren Asset Management, which runs the Fund, Chris Day said it had received a request from at least 5% of unitholders for a wind-up resolution to be put to the forthcoming annual meeting.

Day said a 9% unitholder, Mike Seabrook, was behind the latest initiative which he described as wasting shareholders' money.

Companies: Constellation

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