Sun­rice re­view

Southern Riverina news - - NEWS -

Sun­Rice has an­nounced the start of a con­sul­ta­tion pro­gram with share­hold­ers as part of its Cap­i­tal Struc­ture Re­view.

The con­sul­ta­tion will ini­tially con­sist of share­holder meet­ings, with the first round of meet­ings held in Lee­ton and Fin­ley yes­ter­day.

Other meet­ings this week will be held to­day at Coleam­bally and Grif­fith and in Wakool and De­niliquin on Thurs­day.

The re­view is fo­cused on the com­pany’s cap­i­tal struc­ture, specif­i­cally look­ing at the rel­e­vance and ap­pro­pri­ate­ness of the cur­rent struc­ture as well as how Sun­Rice can best de­liver on the ex­pec­ta­tions of share­hold­ers.

Board struc­ture and the de­vel­op­ment of a grower ser­vices and paddy pro­cure­ment char­ter are also be­ing con­sid­ered as part of the re­view.

Sun­Rice chair­man Gerry Law­son said the first round of the meet­ings is about lis­ten­ing to share­hold­ers.

‘‘The re­view is an op­por­tu­nity to dis­cuss how Sun­Rice can best meet the chal­lenges and op­por­tu­ni­ties of the fu­ture,’’ he said.

‘‘Over the com­ing months we will be hold­ing meet­ings with grow­ers, share­hold­ers and the community, and I en­cour­age ev­ery­one to get in­volved.

‘‘It is im­por­tant that all share­hold­ers and grow­ers have an op­por­tu­nity to con­trib­ute, and feed­back is both wel­comed and en­cour­aged.

‘‘In due course the board will act on share­holder feed­back, how­ever there’s a long way to go and it is far too early to pre­dict an out­come for the re­view.’’

Mr Law­son said it is also im­por­tant to re­mem­ber there will be no changes to Sun­Rice’s struc­ture with­out a share­holder vote.

‘‘That’s why the board is de­ter­mined to have a con­struc­tive and pos­i­tive dis­cus­sion with all share­hold­ers to de­velop a so­lu­tion that best meets their ob­jec­tives and as­pi­ra­tions,’’ he said.

Fur­ther rounds of meet­ings will be held next year, with dates, times and lo­ca­tions to be con­firmed.

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