Exchange listing still on SunRice agenda: Chair
A date has still not been set for a vote on SunRice’s proposed capital restructure, but its chair Laurie Arthur says it is still a priority.
The restructure proposes listing B Class shares on the Australian Securities Exchange, giving the company the potential to secure future growth.
A vote on the proposal, which will not impact on A Class shares or grower control, was expected to be held this year.
In May, the company advised the timing of the proposed restructure had been impacted by developments regarding a subsidiary joint venture partner’s decision to undertake an internal review of its arrangements SunRice.
‘‘This development was unexpected, is not related to SunRice’s business performance and is not impacting on trading operations,’’ Mr Arthur said.
‘‘The capital restructure will proceed to a vote once the current joint venture issue is resolved and a suitable timetable can be confirmed.
‘‘The board remains fully committed to the proposed capital restructure and it will be brought before shareholders for consideration once it has been through all the necessary processes, including resolution of the current joint venture issue.’’
Mr Arthur said the capital with restructure will change the way SunRice’s future growth is funded, while delivering enduring grower shareholder control and offering B Class shareholders the potential to unlock greater value for their investment.
‘‘The capital restructure is in the best interests of the business and will allow us to invest for growth, better manage risk and ensure greater resilience in dynamic global markets,’’ he said.
‘‘Since corporatising in 2005 and listing on the NSX in 2007, SunRice has a track record of delivering positive outcomes for, and balancing the needs of, both A and B Class shareholders.’’
They are Barooga Community Hall, Berrigan Public School, Blighty Public School, Finley High School, Jerilderie Civic Hall and Tocumwal Public School.
Seven candidates will be listed on the seat of Farrer ballot paper, including Christian Kunde who withdrew as Labor’s candidate more than two weeks ago.
Under Australian Electoral Commission legislation Mr Kunde’s name could not be removed from ballot papers and his votes will be counted.
Candidates in ballot order are Ron Pike (Australian Liberty Alliance), Amanda Cohn (The Greens), Paul Rossetto (Christian Democratic Party), Brian Mills (Independent), Sussan Ley (Liberal), Christian Kunde (Labor) and Trevor O’Brien (Mature Australia Party).
For more information about polling locations and opening times, visit