PGG Wrightson has requested a trading halt for its quoted ordinary shares on the NZX, following the outcome of its annual meeting of shareholders.
During the meeting, shareholders voted against the re-election of independent chair Garry Moore and independent deputy chair Sarah Brown.
Additionally, director Meng Foon did not stand for re-election.
As a result, the company's board now comprises only three directors and does not meet the NZX Listing Rule requirements.
PGG Wrightson is now considering the implications of this and seeking specialist legal advice, as well as arrangements to appoint additional directors.
The company said it wishes to maintain an orderly market, as two of its largest shareholders voted against the re-elections without providing reasons.
The trading halt is expected to last for the earlier of two business days or until a further market announcement is made regarding the appointment of additional directors.
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