Positive signals but challenges remain
PGG Wrightson (PGW) chief executive Stephen Guerin says that while there are positive signals within the market, there are also challenges.
The board of rural trader PGG Wrightson Limited has agreed to call a special meeting demanded by its largest shareholder.
In a NZX filing yesterday afternoon, PGW says it will issue a notice of meeting at the relevant time together with appropriate information for shareholders about the matters to be addressed at the meeting.
Agria Singapore, which holds a 44% stake in PGW, is seeking a special shareholders meeting where it wants to overhaul the PGW board – removing directors Garry Moore, Sarah Brown and Charlotte Severne. It is proposing to appoint former PGW chairman Alan Lai, Wilson Liu, Vena Crawley and Traci Houpapa as new directors.
PGW says following receipt of the notice on the afternoon of 8 February 2024 PGW promptly sought to engage with Agria in relation to the matters outlined in the notice and sought advice from its external lawyers, Chapman Tripp.
“The PGW board convened on 12 February and 13 February to discuss the notice and has continued to liaise with Agria to explore whether Agria would withdraw the request to enable a more constructive board transition to take place.
“Following further dialogue today, Agria has this afternoon confirmed that it will not withdraw the notice requesting that a special shareholders meeting be convened and accordingly PGW is preparing for a shareholders meeting.”
Lai, founder of Agria Corporation, stepped down from the PGW board in 2018, following investigation for alleged securities law breaches in Singapore.
Tractor manufacturer and distributor Case IH has announced a new partnership with Meet the Need, the grassroots, farmer-led charity working to tackle food insecurity across New Zealand one meal at a time.
The DairyNZ Farmers Forum is back with three events - in Waikato, Canterbury and Southland.
To celebrate 25 years of the Hugh Williams Memorial Scholarship, Ravensdown caught up with past recipients to see where their careers have taken them, and what the future holds for the industry.
Among this year’s Primary Industry NZ (PINZ) Awards finalists are a Southlander who created edible bale netting and rural New Zealanders who advocate for pragmatic regulation and support stressed out farmers.
Rockit Global has appointed Ivan Angland as its new chief operating officer as it continues its growth strategy into 2025.
Nominations are now open for the Horticulture New Zealand (HortNZ) board.
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