Originally Posted by
Sideshow Bob
Clarification of Business Desk Article
Garry Moore, Chair of PGG Wrightson Limited (PGW) wishes to clarify a quote discussed in the Business Desk article released today under the heading “Meng Foon won't quit as a PGG Wrightson director.”
The article notes that Mr Moore had commented that the New Zealand Shareholders Association had identified Meng Foon as an Agria representative rather than an independent director and that “We agree with them”, implying that this reflected a determination of the PGW Board.
Mr Moore wished to clarify that while this comment reflected his view and the views of some other directors, the independence determination had not been formally reconsidered by the PGW Board recently. This matter would however be reconsidered by the PGW Board in the near future and if there was any change in the current determination that Meng Foon was an Independent Director, this would be announced to the market.