The man at the centre of a boardroom battle at an Eden property firm has moved to calm the fears of farmers that the outcome could result in a threat to the future of Penrith mart.
Sales of livestock and machinery are run at the Skirsgill mart site on the outskirts of the town by the Penrith and District Farmers’ Mart Partnership, but the site is owned by a separate business, Penrith Farmers’ and Kidd’s, some of the shareholders of which are attempting a boardroom coup.
Under threat are the positions of PF&K chairman Bernard Wharam and non-executive director Stephen Dunn.
Resolutions have been submitted by the discontented shareholders calling for their removal and also the appointment to the board of 80-year-old Robert Derek Calrow, of Bolton, a former stockbroker and major shareholder.
A meeting of shareholders was called for yesterday morning at the Hired Lad, on the Skirsgill site, to vote on the resolutions, and many unable to attend have been sending in proxy voting forms.
Those who buy and sell stock at the mart have expressed concern that the outcome could determine whether or not the lease arrangement between PF&K and the farmers’ partnership survives.
If it did not, and the high value mart site was sold off, the farmers’ partnership would be left without a home.
However, Mr Calrow this week stressed that he knew of no reason why farmers should be concerned over his actions, saying: “They need have no fears on account of me — I have no plans to do with the lease of the cattle auction. I have no plans for any changes.”
He told the Herald that he had initiated the resolutions because of the policies of the PF&K board members and the small number of shares in the company which they own.
Calls for stability at the top of PF&K have come from several sources, including Adam Day, managing director of the Penrith-based Farmer Network.
He said: “The farming community will be watching this meeting with keen interest and hoping that stability remains which will allow the mart to run for generations to come.”
A letter on the subject has been sent out by David Crowden, chairman and general manager of the Penrith and District Farmers’ Mart Partnership, in which he urges PF&K shareholders to “consider these proposals most carefully and not lend your support to any outcome that might prove a de-stabilising effect” on the partnership.
In a letter to PF&K shareholders urging them to support the removal of Bernard Wharam and Stephen Dunn and his own appointment as a director, Mr Calrow refers to a “seeming lack of direction” within the PF&K board and alleges there has been a “lack of a strategy to utilise the assets of the company”.
Responding, PF&K directors whose positions are not under immediate threat say the existing board has a “clear, planned and proven strategy” in place, and that it will “continue to operate the business to protect the various strong assets in the ownership of the company”.
