By Chris Hutching
Friday 8th August 2003 |
Text too small? |
The fight for control went to the Appeal Court last week, with PPCS seeking to set aside penalties (forfeiture of Richmond shares) for breaches of the Securities Act, and Richmond arguing that the southerner should be made to sell all the shares it owns.
"In line with good governance practices, your directors are recommending a change to the PPCS constitution to allow the option of appointing two additional directors to the board," chairman Jim Pringle said.
"The ability to expand the governance base ­ drawing on additional expertise at board level ­ will be invaluable to the elected directors and to shareholders.
"It will give them the flexibility to identify areas where they need expertise."
A letter will be sent to shareholders next month for them to vote on the issue.
The 10 current directors are Mr Pringle, Lindsay Alderton, Robbie Burnside, Rupert Curd, Terry Egan, Joe Ferraby, Andrew Fox, Eion Garden, Reece Hart and Des Pringle.
Meanwhile, the company has reported to shareholders that stock numbers were well up over the past season.
The company is spending $1.6 million to expand its beef processing at Finegand near Balclutha.
No comments yet
Fonterra appoints permanent COO
Manawa Energy FY24 Annual Results & Webcast Details
Seeka Provides the Results of Meeting - ASM
April 19th Morning Report
PGW Guidance Update
CNU - Commerce Commission releases draft expenditure decision
Spark announces departure of Product Director
TGG - T&G appoints new Director
April 18th Morning Report
SKC - APPOINTMENT OF CHIEF EXECUTIVE OFFICER