Munro puts lid on thankless saga to disestablish Wool Board

Tue, 29 May 2012

By Jonathan Underhill May 29 (BusinessDesk) - Wool Board Disestablishment Co has made its final report, having met its 2003 target for distributions in a decade-long process that left chairman Bruce Munro vowing never again to be involved in such a thankless, poorly paid task. The directors of DisCo will resign and unrestricted access to the shell will be transferred to NZAX-listed Wool Equities, the company established to preserve and use some $300 million of tax losses for the benefit of growers. DisCo has made total distributions to grow...

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