AU: Brismark shares not for sale

Produce Markets Queensland’s (PMQ’s) efforts to publically escalate tensions in their takeover bid for the Brisbane Markets are not going unnoticed by Brismark, the organisation which represents the wholesalers and operators at the Markets. As the largest shareholder of Brisbane Markets Limited, Brismark, has weighed into hostilities stating that it is particularly disturbed by PMQ’s hostile and malicious attacks on the BML Board and CEO, as well as unsubstantiated attacks on the integrity of Brismark Directors.

Brismark’s Chairman, Gary Lower, said the Brismark Board remained strongly opposed to PMQ’s bid and rejected the claims being made by PMQ as ill-informed and inaccurate scare-mongering.

“There is no mood for change within the Markets and any suggestion to the contrary is fanciful,” he added.

“Brismark has 53 Members and as few as five had indicated a level of support for PMQ’s bid,” Mr Lower said.

“Brismark, together with Members who we believe hold a similar view, controls more than 50% of BML’s issued capital”. Other shareholders including growers, secondary wholesalers and retailers had also expressed strong support for retention of the industry based ownership structure.

“The BML Board, Chairman and CEO have the full support of the Brismark Board,” he said.

The current BML Board and CEO have delivered to the industry over a decade of stability and unity, massive investment in new infrastructure and a focus on addressing site presentation and maintenance issues following years of neglect under Government ownership. BML has also been a landlord who has negotiated and shared a strategic vision for the Markets with Brismark.

For more information:
www.brismark.com.au