The Indian Sandalwood grower last week threatened to take the matter before court, prompting a withdrawal of the push, however according to News Corp reports the shareholder group will re-embark on its quest in the New Year.
The group, named Team Harvest, holds concerns over a number of corporate governance issues and the role of founder and chairman Frank Wilson.
Mr Wilson however disputed the claims, saying TFS shares have performed well in his 14 year term as chairman before tumbling 60 per cent in the year he didn’t hold the role.
TFS Corporation achieved a net profit of $25.9 million in the 2012 financial year.