22 June 2001
SCATS set to become a plc
By James Garner
SCATS Grain, the UKs largest farmer-controlled grain business, plans to become a public limited company and change its name to Grainfarmers.
The company will make the change at the beginning of October when it will re-register as a plc and offer clients a free bonus share issue.
It is likely to have about 3000 farmer shareholders, but has no plans as yet to be quoted on the Stock exchange.
This move follows SCATS Grains transformation in the past three years from a southern-based grain trader to a national business.
Tim Pollock, group managing director, says the new identity will reflect the companys farmer-owned nature.
Grainfarmers has the scale to provide farmers with a strong competitive alternative to the large multi-national companies that prevail in UK agriculture.
He adds that the plc will remain a farmer controlled business, despite the share offer.
The company plans to structure the share offer to encourage farmer shareholders and not those from outside agriculture.
It hopes the offer will attract a further 2000 grain growers to go along with the 1000 that are currently members.
- SCATS and West Country merge, FWi, 14 May 2001
- Mega merger abandoned, FWi, 18 August 2000
- SCATS buys BDR to go national, FWi, 27 July 1999
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