Share placement passed at IRG meeting

Investment Research Group (IRG) held a special shareholder meeting that saw the resolution to place shares with GA Sego passed with 98% of the votes.

Other resolutions relating to the placements and the share purchase scheme were also overwhelmingly carried at 99% to 1% and 98% to 2% respectively.

Managing director Brent King said, "the high compliance cost and lack of critical mass meant that the decision was virtually a 'no brainer' for shareholders. As all of the conditions of the contract have now been met, settlement is set for Monday, May 9."

He said the IRG directors and management were looking forward to working with GA Sego to provide excellent returns for shareholders.

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