Fed: AWB snubbing shareholders WA Farmers Fed

AAP General News (Australia)
02-14-2000
Fed: AWB snubbing shareholders WA Farmers Fed

The West Australian Farmers' Federation says a decision by AWB Ltd -- formerly the
Australian Wheat Board -- to withdraw a lending facility for shareholders is a serious
setback to the relationship between growers and the board.

Grains section president BOB IFFLA says the recanting of the Working Cash facility
is a case of sour grapes on the AWB's part because the board's proposed constitutional
changes were defeated at the company's first annual general meeting last week.

The Working Cash facility allowed farmers to borrow against their shareholding in AWB,
without losing their involvement in the wheat board.

Mr IFFLA says the facility should be reinstated immediately if trust between growers
and the board is to be restored.

The AWB changed from a statutory authority to a grower-controlled and owned corporation
on July 1 last year.

AAP RTV eg/mfh/sub/as

KEYWORD: AWB (CANBERRA)

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