Agra converts to public company
Agra announced its conversion from a co-operative to a public company, effective 1 February 2013. This follows the approval by the Ministry of Agriculture, Water and Forestry after a process during which Agra and the Ministry agreed on a number of issues in order to comply with the Co-operatives Act 1996.
The conversion of Agra Co-operative Limited into a company gives effect to the wishes of more than two-thirds of Agra’s members. The board and management see the conversion as a natural evolution, a process that will strengthen Agra’s position to continue to grow and develop its markets, knowing that its business vehicle is well geared to build on the success story of the past. A strong balance sheet supports Agra’s stated intent to create prosperity and improve quality of life.
Agra said numerous administrative and organisational tasks lie ahead to ensure a smooth transition. Agra will inform all its stakeholders as and when new information becomes available.