May 14, 2019 / 7:23 PM / a year ago

Over 40% of minority shareholders of Turquoise Hill oppose independent directors

TORONTO, May 14 (Reuters) - A large proportion of the minority shareholders in Rio Tinto Plc -controlled Turquoise Hill Resources voted against the re-election of the company’s independent directors on Tuesday.

While all seven directors were re-elected to the board, over 40% of Turquoise Hill’s minority shareholders, including its second-biggest shareholder, Sailingstone Capital, voted against the four independent directors, according to a Turquoise filing.

Sailingstone last month flagged its vote in an open letter, citing governance issues and the board’s lack of engagement with minority investors. (Reporting by Nichola Saminather Editing by Leslie Adler)

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