Commodity trader Noble Group Ltd. (N21.SG) said its shareholders Monday rejected a proposal to sell Gloucester Coal Ltd. (GLC.AU) to Macarthur Coal Ltd. (MCC.AU).

"The board announces that the resolution relating to the matter set out in the notice dated April 1 of a special general meeting was not approved by shareholders," Noble said in a statement.

The notice sought shareholders' approval to sell Gloucester Coal to Macarthur and the acquisition of Macarthur shares by Noble.

-By P.R. Venkat, Dow Jones Newswires; +65 64154 152; venkat.pr@dowjones.com
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