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 Victory claimed over motion to corporatise CBH 

Victory claimed over motion to corporatise CBH

24 Sep, 2009 05:00 AM
ESPERANCE graingrower Nils Blumann is claiming a successful result from the series of independent CBH shareholder meetings he organised and held throughout WA last week.

Mr Blumann will now take forward a motion to the CBH Board, with confidence, asking it to de-mutualise the company.

He wants immediate action taken to address CBH's structural reform, to ensure it can handle looming competition in the deregulated grains market.

The motion was voted on overwhelmingly by 122 of the 143 eligible grower shareholders, who attended the meetings in Geraldton, Merredin, Katanning and Esperance.

Mr Blumann said he was extremely disappointed by the CBH Board's decision to recommend all directors not attend the meetings.

He said CBH shareholders had made it very clear at the meetings that they wanted to see the Board address structure as a core priority.

Mr Blumann said the meetings were an educational exercise that were designed to present the facts on CBH's current position in the grains industry, and the challenges it faced to survive.

He said seven shareholders abstained from the vote, but some of them came to the meetings as "die hard co-operative supporters" and changed their minds.

Mr Blumann said they changed their position after hearing his presentation, and that of ABB director Ross Johns, who outlined the journey taken by ABB, which started as a co-operative and became a privately listed company that merged with Canadian grains giant Viterra earlier this month.

Read the full story in this week's Farm Weekly.

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comments


Date: Newest first | Oldest first
How can the voice of 122 growers out of 5,000 be considered to be a victory? This is under 2.5% of growers. If there were even 500 it could be taken more seriously. I am all for moving forward but if we are not careful we will end up like ABB growers under the recent take over who will be paying more for less service - but then again they have gotten a payout or shares or both and that's what Nils is aiming for. It is still to be determined AT WHAT PRICE and how much they will suffer.
Posted by Rubbish, 24/09/2009 10:20:52 AM
These 122 paid for the right to express their opinion. 5000 other registered growers expressed their opinion by not attending these meetings. Surely that doesn't show support for the changes sought by this group of self serving visionaries. Let's give prominence to the majority not the vocal minority.
Posted by bazza, 24/09/2009 1:25:05 PM

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John Shadbolt, Mukinbudin (left), and ABB director Ross Johns, at last week's meeting in Merredin.
John Shadbolt, Mukinbudin (left), and ABB director Ross Johns, at last week's meeting in Merredin.

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