MIAG Working Towards National Champion

MEDIA RELEASE
MIAG - Meat Industry Action Group Inc

3 July, 2008 - MIAG will support the new partnership between Silver Fern Farms and PGW as long as this partnership is compatible with MIAG’s objective.

MIAG’s objective is the formation of a farmer controlled, market led, National Champion, a company that has 80% of red meat procurement, processing and marketing to get the critical mass needed to improve farmer returns.

Chairman John Gregan said “Any ideas that will help in the formation of this National Champion are a step in the right direction. If the partnership between Silver Fern Farms and PGGW can lead to the National Champion, then MIAG will support it. If it will not lead towards that we can’t support it.”

MIAG will request the calling of SGMs from both Alliance and Silver Fern Farms with the objective of creating a farmer controlled, market led, National Champion.

“We will make a formal request for those meetings today. Obviously we need shareholder support for the resolutions needed to be passed. These resolutions will enable the process for creating meat industry consolidation to begin. Once MIAG have confirmation of the dates of the SGMs, MIAG will publish the resolutions for farmers to comment on and to indicate support by giving MIAG their proxy.

“MIAG do not see the SGMs as being in conflict with any actions that the Meat Company Co-operatives are currently undertaking as long as those actions do not conflict with MIAGs objective of a Farmer Controlled, market Led, National Champion”, confirmed John Gregan.

ends

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