TWE shareholders cranky over tight timing for entitlement issue

Some small shareholders are angry at how little time they were given by Treasury Wine Estates to respond to its retail entitlement offer to help pay for the $754 million acquisition of the Diageo wine business. They say it’s typical of the arrogance shown by directors generally towards retail shareholders. The retail entitlement offer of new shares on a 2-for-15 basis closed on November 4, and allowed only eight business days for shareholders to return their paperwork after the offer booklet was mailed on October 23 to shareholders of Treasury.