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AWB may need second run at reform
7 Feb 2008
Sources within AWB have said that the company is unlikely to win the 75 per cent approval from shareholders that is required to approve constitutional changes that would end grower control of its board. The results will be known at the company's annual general meeting to be held next Tuesday and is expected to be around 60 per cent, which would still give the board enough of a mandate to resubmit and recommend changes later this year. The proposed reforms would also allow AWB to not rely on grain trading as its main business which will be important for the company once its 69-year-old monopoly over wheat exports ends from July.
The Australian Financial Review, 7/2/2008
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