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May 1, 2002

AUSTRALIA: Peanut Company loses bid for seats on Buderim board

An attempt by the Peanut Company of Australia to place two of its executives on the board of Buderim Ginger has been foiled as shareholders in the Queensland firm voted to retain three recently installed directors. The Peanut Company had hoped to see its chairman, Ray Magill, and CEO, Robert Hansen, on the board of the ginger producer, in which it controls an 11.5% stake.

An attempt by the Peanut Company of Australia to place two of its executives on the board of Buderim Ginger has been foiled as shareholders in the Queensland firm voted to retain three recently installed directors.

The Peanut Company had hoped to see its chairman, Ray Magill, and CEO, Robert Hansen, on the board of the ginger producer, in which it controls an 11.5% stake.

Buderim shareholders voted against the move earlier this week however in favour of John Ruscoe, Doris Crerar and Stephen Maitland.

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