PMV 1.65% $34.65 premier investments limited

News: PMV UPDATE 1-Australia Myer's top shareholder seeks access to company's share register

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    • Premier says may write to Myer shareholders on AGM resolutions
    • Premier bought 10.8 pct of Myer in March, but ruled out M&A then
    • Myer shares soar nearly 7 pct

    (Adds background, share moves)

    Sept 27 (Reuters) - Myer Holdings' (MYR) biggest shareholder Premier Investments (PMV) said it has asked Australia's biggest department store operator for a list of its shareholders, driving Myer's shares on Wednesday to their biggest one-day gain in six months.

    Premier Investments, controlled by Australian retail entrepreneur Solomon Lew, said in a statement on Wednesday it had "requested" the list to "consider writing to Myer's members in relation to any resolutions proposed at Myer's AGM this year".

    A spokesman for Myer could not immediately be contacted for comment.

    The Australian retail conglomerate said in March it had bought a 10.8 percent stake in Myer but added it had no plans to make a takeover bid then. Lew has previously used shareholdings to gain leverage in takeover situations.

    Myer posted earlier this month its lowest annual profit since listing.

    According to Australian Financial Review, Lew had critics Myer's board and strategy and had said he was "bitterly disappointed" at the 37 per cent fall in Myer's share price since March.

    Last week, Myer appointed Garry Hounsell as its Deputy Chairman and said he will be nominated as the Chairman, after Paul McClintock retires. Hounsell's election will come up for consideration at Myer's annual general meeting in November.[nASX4BX3Bc]

    Myer shares ended up nearly 7 percent on Wednesday at their highest in more than two months.

    Premier shares hit an over three-month low before paring some of the losses to close 2 percent lower.

 
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