The Australian Agricultural Company (AACo) AGM has been postponed. It will be held before 12 June, on a date yet to be announced by the AACo. The AGM deferment is due to an error on the proxy form that was mailed out.
On May 19th it was announced that Charles Bright has resigned from the AACo board and will not be seeking re-election. And Phillip Toyne is quoted in the Melbourne Age, insisting the former AACo board was independent (and not making decisions that primarily benefited Futuris, rather than all the shareholders). Phillip Toyne has also pointed out that he perceives that if the IFFCO board nominee Arunas Paliulis is voted in, along with the other two directors that IFFCO wants (Chris Burton Taylor and Chris Roberts), then it could be perceived that IFFCO, as a 20% shareholder, is having more than a 20% say on how the AACo is being run.
Tags: Pastoral companies