AUSTRALIA – The Warrnambool Cheese and Butter announced that it is not to be listed on the Australian stock exchange.

In a vote, less than the required 75% of shareholders voted for the listing. At a meeting last week, a large majority of shareholders voted to back the proposal, but the move was blocked by a small number of shareholders.

Chief Executive Officer Mr John McLean said the company was disappointed. “We are saddened to see this result,” he said. “Votes show that the proposal is supported by the majority of our shareholders.”