Voting took place on 10 October at a special shareholders' meeting where 74,1 per cent of the shareholders were present (in person or by proxy), with 98,7 per cent voting in favour of the scheme.
"The transaction is very beneficial to all TRA shareholders, our farmers, employees and the various communities surrounding the 17 towns where we operate," said TRA Chairman Marais Pienaar.
"At the same time, the purpose was to ensure the sustainability of the business of TRA in a competitive environment, with emphasis on the long-term prosperity of the farmers in the operating area of TRA, combined with the unlocking of value to TRA shareholders."
At the meeting, Erenst Pelser, chief executive officer of the SSK Group, emphasised that with the addition of TRA as a wholly owned subsidiary to the SSK Group, the group turnover will exceed R2-billion per annum with a geographical footprint stretching from Robertson in the west to Plettenberg Bay in the east and from Mossel Bay in the south to Aberdeen in the north.
"SSK has proven that farmers prefer the co-operative model as the primary form of business.
"With the co-operative model as foundation SSK has, over the past number of years, invested successfully in several companies. The addition of TRA as a company to the group, will be to the benefit of existing and future SSK members, for example by the optimisation of purchasing power, systems and expertise," said Pelser.
At the shareholders' meeting of TRA, from left: Michael Dippenaar (SSK chairman), Erenst Pelser (SSK CEO), Marais Pienaar (Tuinroete Agri chairman) and Jan Weys (Tuinroete Agri managing director).
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