SUN 0.15% $19.70 suncorp group limited

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    Suncorp-Metway Ltd's (ASX:SUN) shareholders have approved company plans to simplify its complex and unwieldy corporate structure.

    Last month, the Queensland-based financial services group announced it was going to restructure its business under a new ASX-listed non-operating holding company.

    Suncorp asked its shareholders to approve a buy-back of Suncorp-Metway shares, which would transfer capital within the group.

    For the year ended 30 June 2010, Suncorp reported a net profit of $789 million.
 
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