Bonus boosts equity
GRAINFARMERS recent bonus share issue attracted over 2400 farmers to take up equity in the countrys largest farmer-owned grain business.
That was higher than expected, says the company. The new shareholders represent 75% of Grainfarmers annual tonnage.
The scheme was launched in October to broaden the geographical distribution of the companys shareholders, reflecting the larger area over which the company now trades.
Since 1999, Scats Grain has acquired BDR, Countrywide Farmers and West Country Grain. It changed its name to Grainfarmers in October 2001, and took over Royston-based Sherriff Grain in December.
"This is a tremendous base upon which to build from our current UK market share," says managing director Tim Pollock. *