Spill move for Quintis
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A group of Quintis shareholders has requisitioned a general meeting to spill three directors, including chairman Dalton Gooding, with avocado grower Craig Duncan, Kimberley Development Commission director Robert Boshammer and property developer John Allen nominating for roles.
Mr Allen and Domenica Nominees, an entity associated with former Quintis managing director Frank Wilson, submitted an application today to requisition the general meeting.
Notably, however, Mr Wilson was not nominated as an incoming director.
It comes just weeks after a heated AGM for the sandalwood producer, with Mr Gooding criticised for stalling when answering shareholder questions.
After today’s requisition notice, the company has three weeks to call a meeting of shareholders to consider the removal and replacement of directors.
Mr Allen previously owned a heavy vehicle business in the UK, and has developed investment and property interests since moving to Perth.
Mr Boshammer has been a grower in the Ord River irrigation zone for 30 years, and is manager of Bosh Farming.
He is also on the board of Cambridge Gulf, which was formerly known as the Ord River Development Cooperative.
In addition to experience as an avocado grower, the third potential director, Mr Duncan, is on the board of ASX-listed Matrix Composites & Engineering.
The three directors to be removed are Mr Gooding, Julius Matthys and John Groppoli, while Michael Kay, who was just reelected as a director at the recent annual general meeting, is the only director not to be up for removal.
Mr Allen said shareholders seeking to takeover Quintis had significant support from growers.
“Grower support is the backbone of Quintis and it is critical to the future success of the company,” he said.
“As shareholders of a quality company with an excellent market-ready product in high demand, we need a clear plan to move this business forward for the benefit of all shareholder and stakeholders.
“The time has come for Messrs Gooding, Matthys and Groppoli to realise that their plans have failed and for a new leadership group to step in and clean up the mess."
Quintis shares were suspended in May 2017 after a series of problems led to a fall in the share price of around 80 per cent in two months.
Shares last changed hands at 29.5 cents each.