Toll responds to public exit claims


Logistics company Toll responded to reports it was making a public exit

Toll responds to public exit claims
Toll Group has replied to public exit reports

Transport and logistics company Toll Group recently responded to claims that the company was making a public exit.

The reports came after the group recently changed leadership, with managing director Thomas Knudsen replacing the retiring John Mullen as chairman and Alan Beachman becoming the new managing director.

Recently Toll filed an application to change its company type from ‘Public Limited’ to ‘Proprietary Limited’ with the Australian Securities and Investments Commission.

But Toll has replied to Trailer, saying the move all came down to a matter of company structure following a recent period of change.

"This change simply reflects the fact that given Toll Holdings is 100 per cent owned by Japan Post, it is more appropriate to structure Toll as a proprietary company rather than a public company," a Toll spokesperson says.

"The change has no impact on the liability of our shareholder in Japan Post."

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