Urea plant faces forced closure over gas supply
One of New Zealand’s largest fertiliser plants could be forced to shut down for four months as uncertainty looms over gas supply.
Nikora is taking up an overseas appointment as group director food safety advisory for AsureQuality; Nikora has served as a member of AsureQuality board.
Ballance says as a result of Nikora's resignation, it is calling for director nominations for its Ward B.
David Peacocke, Ballance chairman says the board is actively encouraging potential candidates to step forward.
"Ballance today is close to being a $1 billion business in terms of revenue and we have a clear strategy to be recognised as New Zealand's farm nutrient experts. It is important that we attract high quality candidates for director vacancies so that our Board maintains a strong balance of experienced independent and elected directors. This is a fantastic opportunity for candidates to step up.
"Dean Nikora has played a valued role since joining Ballance as a director in 2004, and we wish him all the best in his new role," says Peacocke.
As Nikora resigned during the term, the successful candidate will complete the remainder of Mr Nikora's two year term and retire by rotation at the company annual meeting in 2016.
To qualify for election as a director, nominees need to be registered to vote in Ward B, hold more than 100 Ballance Agri-Nutrients share, or represent a company or partnership with more than 100 shares and be aged under 68 at the date of election, which shall be on Tuesday 25 November.
Nomination forms are available from the Ballance Share Registrar on 0800 267 266 and must be returned by Monday 13 October. Election results will be included in the next newsletter to Ballance shareholders and posted on www.ballance.co.nz
