NZME delays annual shareholders' meeting amid board proposal

NZME Limited (NZX:NZM) has postponed its Annual Shareholders' Meeting from April 29 to June 3, 2025, to allow shareholders more time to consider a proposal from JTG 4 Limited, owned by James (Jim) Grenon, for the replacement of the current NZME Board. This delay will allow NZME to engage with shareholders and allow shareholders to consider the proposal and whether or not they wish to put forward any other director nominations. The board raised concerns regarding the proposal, including the risks of no alternative plan, risks around editorial control, minority shareholder control and risks around poor governance. A new nomination period for directors has been opened, closing on May 5, 2025. NZME will contact JTG 4 Limited and Osmium Partners, LLC to confirm resubmission of previous nominations.