| ||Flügge’s AWB Board nomination upheld|| ||
The Federal Court today agreed to dismiss key parts of the proceedings initiated by Mr Kevin Jones in relation to AWB Limited’s 2001 Board elections, and the current 2002 Board elections, AWB Limited Chief Executive Andrew Lindberg said.
In addition, Mr Jones’ lawyers agreed not to pursue allegations against the validity of the nomination of Mr Trevor Flügge for the 2002 election of directors, and have withdrawn this part of the proceeding.
Mr Lindberg said this followed the provision to Mr Jones’ lawyers of a copy of the list of the 100 A-Class shareholder signatures obtained by Mr Flügge, which had already been fully audited by Computershare.
“The outcomes of today’s hearing supports what AWB has said all along – that we are totally confident in the fairness of our election process, and that shareholders can also be totally confident in that process,” Mr Lindberg said.
“Unfortunately, the defence of the allegations made by one individual have cost AWB, and therefore growers, a considerable amount of money and management time, and have created unnecessary confusion in the minds of growers.
“As far as AWB is concerned there has never been a doubt that Mr Flügge did everything completely by the book with regard to his nomination, and we would have to question why, in a case which concerns last year’s election, Mr Flügge’s name has been mentioned at all.
“Again, it is most unfortunate that AWB has been forced to take the measures it has to defend these allegations, but it has done so to protect the integrity of the election process, and the Company itself,” Mr Lindberg said.