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Steadfast members clear the way for float

Steadfast members have approved all resolutions needed for the company to restructure before listing on the Australian Securities Exchange.

About 30 shareholders attended an extraordinary general meeting on Friday, with more than 80% of members voting when proxies were included.

Steadfast MD and CEO Robert Kelly says six of the seven resolutions required a 75% acceptance, so the outcome was pleasing. “We had a strong voting turnout and an overwhelming level of support.”

Commenting on last week’s news that Steadfast member InterRISK has been acquired by Austbrokers, Mr Kelly told insuranceNEWS.com.au InterRISK had done well. “When people want to sell, they come into the market and make decisions about the best opportunity for them,” he said.

Steadfast expects to lodge its prospectus with the securities exchange on about June 28.

The company has increased its legal capacity with the appointment of Linda Ellis as General Counsel and Group Company Secretary.

She was most recently a principal of Lowndes Legal Advisory and has previously worked for Atanaskovic Hartnell, Clifford Chance in London and Mallesons Stephen Jaques.