In today's AFRWill GlasgowThe share price of paper, display and...

In today's AFR

Will Glasgow
The share price of paper, display and packaging manufacturer PaperlinX remains depressed, after three of the
company’s five directors resigned last week. The departures included chairman Harry Boon and are the latest
development in a year of huge change at the company. In July, chief executive Toby Marchant left the business under
speculation that he had been sacked by the board. In February, Andrew Price, who owns nearly 5.5 million PaperlinX shares, called an extraordinary general meeting in an attempt to remove Mr Boon as chairman. After the departures of the three directors, Mr Price, the newest director at the company, said PaperlinX needed to continue to re-balance its cost base. He said it needed to reduce the focus on the shrinking paper business and grow the display and packaging businesses. PaperlinX booked an annual loss of $266.7 million for the year to June 30, after writing off the value of its European operations.
The Australian Financial Review