The managing director of Allied Farmers says he is considering organising an extraordinary meeting to investigate questions over the Hanover deal.
Rob Alloway resigned as a director last week after a dispute with the board over what he says was a conflict of interest involving another director during the Hanover deal.
The buyout has plagued the company, and its share price has plunged 95% following asset writedowns, the receivership of its own finance arm and huge losses and cash problems.
Mr Alloway says he feels there was inadequate disclosure of a fee paid by Hanover to the company McDouall Stuart run by fellow Allied Farmers director Andrew McDouall.
But Mr McDouall says the involvement of McDouall Stuart in the transaction was disclosed to the Allied Farmers board from the outset.
Mr McDouall says as a director of Allied Farmers he made a disclosure of interest at each board meeting thereafter.
Mr Alloway, who will remain Allied Farmers' managing director until his contract ends in June, says he's considering trying to get enough shareholder support to trigger an extraordinary general meeting.
Mr Alloway says he would need 5% of shareholders' support for the meeting to go ahead.
