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AWB tries to win shareholder approval
10 Jan 2008
After pressure from farmers, AWB is now offering to temporarily retain the 10 per cent shareholder cap and that the new constitution would require that at least two directors be involved in agricultural production. Approval of the changes needs support from at least 75 per cent of shareholders, but a recent poll found that around 70 per cent support the changes, while 20 per cent are undecided and 10 per cent are against. Chairman Brendan Stewart said yesterday that it was important for the changes to be approved as the impending loss of the single desk arrangement meant that AWB had no choice but to adapt to the new environment.
The Australian, 10/1/2008
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