Australia: 11 candidates for positions in ABB Grain’s board

11 candidates have nominated for positions on ABB Grain’s board at next month’s election. Nominations were closed for the eight vacancies available on the new, streamlined board (reduced from 11 members) .The result of the ballot has to be announced at ABB’s annual general meeting in Adelaide on February 24, 2006.

Ezigrain states that Australian A-Class director election is being keenly contested. Six candidates have nominated for three A-class (SA grower) director positions and include existing board directors Max Venning, Max Wilksch, Adrian Glover and Andrew Inglis (current deputy chairman) besides nominations from Dr Andrew Barr and Paul Daniel,

Dr Barr is well known to growers through his work in plant breeding and has a farm at Pinery via Owen. Mr Daniel was a founding director of Direct Fertilizers Ltd and currently crops 2400 hectares at Balaklava. Existing board director, Ross Johns, was the only nominee for the A-class (Victorian grower) vacancy on the new board. Present director, Trevor Day, also was unchallenged in his nomination for the A-class (all jurisdictions) vacancy. For the three B-class (general shareholder) vacancies on the new board, nominations were received from existing board directors Perry Gunner (currently, ABB chairman), Kevin Osborn and Dr Tim Ryan.

ABB’s company secretary, Ashley Roff, said it was intended that a notice of meeting for the AGM with attached voting forms would be sent to shareholders next week. “Shareholders not intending to be at the meeting can lodge a postal vote or appoint a proxy, provided forms are received no later than 11 am on February 22,” Mr Roff said.

“Election results will be announced at ABB’s AGM on February 24. The South Australian A-class election will be conducted as a poll at this meeting; there won’t be any progressive update of voting results before then. In the ‘uncontested’ elections, shareholders will simply be asked to vote ‘for’ or ‘against’ each candidate.” The ABB board is recommending the re-election of candidates in uncontested elections. In the contested SA election, the ABB board is not making any recommendation to shareholders, in line with board policy.

Initial terms for newly elected directors to the board range from 12 months for the A-class (Victoria) and two B-class directors; two years for the A-class (all jurisdiction) and one B-class director and three years for the three A-class (SA) directors. Eventually all directors will be on a rotation of three year terms.

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