Shareholder seeks board overhaul at Pengana International Equities

Pengana International Equities Limited (ASX: PIA) announced on September 2, 2025, that it received a notice under Section 249D of the Corporations Act from WAM Strategic Value Limited. WAM Strategic Value, a registered shareholder, holds at least 5% of the voting rights in the company.

The notice requests Pengana to convene a general meeting to consider several resolutions. These include the removal of existing directors David Frederick Groves, Russel Craig Pillemer, and Sandi Belinda Orleow. Additionally, WAM Strategic Value proposes the appointment of Geoffrey James Wilson AO, Richard Alexander Caldwell, Julian Martin, and Jesse Michael Hamilton as new directors, all with immediate effect.

Pengana stated it will consider the notice and comply with its obligations under the Corporations Act, committing to keep shareholders informed of any material developments regarding these proposed changes.