StockMarketWire.com - CPPGroup has decided to withdraw from proceedings seeking an interim injunction to stop founder Hamish Ogston ousting the current chairman, chief executive and two non-executive directors.

This followed Phoenix Asset Management Partners' decision to withdraw its support and its intention to abstain from voting on the resolutions proposed in the requisition notice.

The CPP board continues to recommend, unanimously, that shareholders vote against the resolutions.








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