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Proxy adviser Institutional Shareholder Services (ISS) is advising its clients to oppose plans to spill Bubs Australia’s existing board and install a new one including a2 Milk executive Peter Nathan.
The company has a market capitalisation of only $200 million, but has been touted as a contender to become the next major agribusiness in Australia.
The push to remove the company’s current directors at a meeting on July 27 is being led by departed chief executive Kristy Carr and former executive chairman Dennis Lin.
No owner Lin and Carr are keen on Nathan. He’s seen it all before and is unlikely to disagree on their strategy.
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