Press Release

Western Australia’s leading farm organisation, the Pastoralists and Graziers Association (PGA), calls on the board of CBH to give its grower members the opportunity to consider the Australian Grains Champion (AGC) proposal.

The best way to do this is for CBH to enter into a Process Agreement with AGC.

The Process Agreement will allow for the necessary detailed work, including taxation rulings and legal approvals, as well the due diligence that is required for growers to make an informed decision through the ballot box.

Fact File :

• AGC is an Australian owned consortium.

• Current CBH grower members will receive a cash payment and share allocation.

• Growers will continue to own the ‘network’ through their ownership of shares in AGC.  GrainCorp will not have a controlling interest in AGC.

• AGC has a plan to increase the efficiency of CBH’s operations

• Only CBH’s grains logistic network has tax-free status.  Other parts of the business, such as its flourmills, pay tax.

• The Process Agreement must be signed by March 18.

The PGA is concerned that there is already a campaign of half-truths and misinformation and the Process Agreement will allow the full comprehensive factual details of the proposal to be revealed to growers.

The process needs to be dealt with on a commercial basis not a political one.  Grower members should be allowed to consider the AGC proposal.