SunRice shareholders encouraged to be fully informed on ASX Proposal ahead of vote
Leading Australian branded foods company SunRice today encouraged its growers and shareholders to read the Notices of Meetings and Explanatory Booklet on the Company’s ASX Proposal in full and to attend one of the information sessions to be held across the Riverina and online between 7 and 10 August 2018.
SunRice today dispatched the Notices of Meetings and Explanatory Booklet, including an Independent Expert’s Report and voting information on the proposal to transfer its B Class Share listing from the National Stock Exchange (NSX) to the Australian Securities Exchange (ASX) and remove the ownership restrictions on B Class Shares, allowing anyone* to invest up to a new maximum B Class shareholding cap of 10%. If it proceeds, the ASX Proposal will provide SunRice better access to equity capital to fund its 2022 Growth Strategy, without changing the Company’s existing dual class share structure, A Class grower shareholder control or its day-to-day operations.
Shareholders will receive the materials either by mail or email, depending on how they opt to receive SunRice correspondence. A copy of all information is also available here.
SunRice Chairman Laurie Arthur said it was important that all shareholders understood the ASX Proposal before deciding how to vote at the time of the SunRice AGM on 20 September 2018.
“The SunRice Board unanimously recommends the ASX Proposal to A and B Class shareholders and each Director intends to vote their shares in favour,” he said.
“However, this next step is ultimately a decision for our A and B Class shareholders. It’s critical that all our shareholders understand the ASX Proposal in full and what it means for SunRice’s future and their own, before deciding how to vote. In line with this, I strongly encourage shareholders to read the materials we’ve sent in full and to attend one of the information sessions with myself and CEO Rob Gordon on 7 – 10 August 2018. In these meetings, we will go through the detail of the ASX Proposal pack and answer your questions.”
Mr Arthur said all growers and shareholders were welcome at the meetings, as were their families. He noted that briefings were also being held in the same week for financial, legal and other professional advisors and encouraged interested advisors to register here. RSVPs are not required for the shareholder information sessions (with the exception of the webinar), as set out below:
For the ASX Proposal to proceed, 75% approval (by votes cast) is required from both A and B Class Shareholders. Further information about the ASX Proposal or the information sessions can be accessed at on this website or through the Shareholder Information Hotline on 1800 020 806.
*Note – Employees and Non-Grower Directors will remain subject to restrictions in the Employee Share Plan Rules.
Liane Sayer-Roberts, Sauce Communications
(02) 6953-7382 / email@example.com