September 27, 2013
Peanut Company of Australia shareholders today voted to approve the “debt-for-equity” swap which will see the National Australia Bank secure up to a 40 per cent stake in the company in return for writing off $31.2 million of debt.
An extraordinary general meeting was held in Brisbane.
A statement released by the company this afternoon noted that resolutions to approve the deal were passed by shareholders in attendance on a show of hands.
Valid proxy votes were also received from 102 shareholders:
- For – 3,626,002
- Open – 36,366
- Against -17,454
Company Secretary Don Mackenzie said the issue of subscriber shares and the grant of the NAB warrant was subject to final approval by the NAB group but PCA expected this approval to be confirmed by the close of business on September 30.
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