ASX-listed Agribusiness developer, Alterra Limited, has appointed corporate communications and financial markets specialist, John McGlue to its board. McGlue is currently the Principal of capital markets and shareholder advisory firm, Castle Gates Australia.
Alterra said Mr McGlue has already been working with the board and management team as a member of its advisory board and his experience in capital and corporate markets will be beneficial as the Company pursues it avocado developments in Western Australia and expands its pipeline of large-scale horticultural projects.
Mr McGlue said: “Alterra is well-positioned to leverage the growing investor appetite for productive Australian farmland, particularly in Western Australia with its unique climate profile and water resources,”
Alterra Chairman Trevor Stoney said: “John brings great skills and experience in capital markets and managing investors at all levels in the listed sector. Alterra is in a growth phase and John’s extensive background will assist the company in executing our projects and, importantly, in driving value for our shareholders.
In 2002, Mr McGlue acquired a 50% interest in financial PR firm Porter Novelli Perth and in 2008, the business was taken out by NYSE-listed FTI Consulting.
Mr McGlue is also a former Chair of Australia and senior Managing Director of FTI Consulting Strategic Communications.
Amongst a veritable suite of media experiences, including former Business Editor and State Political Editor of The West Australian newspaper, McGlue also brings a solid financial background to the Alterra board, having spent time as an equities analyst, institutional dealer and CEO of Australian Discount Stockbroking Limited.
Colliers International Research Associate Director, Karina Salas recently said: “The outlook for the Australian agribusiness sector was positive and supported by a growing worldwide population, affordable Australian land values when compared to other countries and the increasing worldwide demand for Australian food production.”
“Australia’s case for agricultural prosperity is well known given its proximity to Asian markets, its stable political structure and transparent legal system.”
Mr McGlue said he was delighted to join the Alterra board at such a pivotal time in the company’s development. He added: “There is an abundance of potential in the south-west of WA and key to unlocking these opportunities is matching outstanding projects with the growing number of capital providers seeking direct exposure to the sector.”
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