AUS: McGuigan Simeon proposes name change
McGuigan Simeon is looking to change its name.
The Australian wine company said ealrier this month that it has proposed to its shareholders the corporate name change to Australian Vintage Limited "to enable management to strengthen and protect its McGuigan brand as well as the other brands that (the) company now owns".
The proposal, which wil be voted on at an EGM later this month, has come about following a combination of acquisitions over the last five years. "The board's objective was to re-brand the company under one corporate name in order to present a clear and global image," McGuigan Simeon said.
As well as changing the corporate name, the proposal would result in McGuigan Simeon's symbol on the Australian Securities Exchange becoming AVG from MGW.
"As Australian Vintage Limited, we now have the chance to unite the business as one company, as opposed to multiple merged entities," said company secretary David Clarke.
The company will vote on the proposal on 30 January.
Late last year, McGuigan Simeon said that, despite the country's current drought, the company remained in a "sound position" and expects to see "a small profit for the full financial year".
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