The majority of MFS shareholders have approved the proposed name change of the company with the firm now to be known as Octaviar.
The motion was carried at an extraordinary general meeting held in Sydney last week with 169.5 million shareholders voting for the motion and only 1.3 million expressing a contrary view. A further 2.5 million shareholders abstained from the vote while there were 2.1 million open proxies.
The resolution means the company will now trade under a different listing on the Australian Securities Exchange with ‘OCV’ as its new code.
The new name selected for the company has no significance and was chosen as the most appropriate from an external consultant’s list of potential names drafted for MFS to scrutinize a MFS spokesperson told Investor Daily.
As far as shareholder sentiment toward to new name was concerned no-one questioned or objected to it the spokesperson said.
A presentation at the meeting chief executive Craig White pointed out Octaviar will continue to operate as an investment management business looking after assets in the leisure and child care sectors, running a real estate portfolio, as well as holding a 35 per cent interest in the Stella Group.
However a strategic review of the company is currently taking place at the end of which the firm’s objectives and core activities moving forward will be finalised.
