Friday, 01 June 2012 14:44

'Biggest vote since Fonterra began'

Written by 

In the biggest decision for Fonterra Cooperative shareholders since Fonterra was formed eleven years ago, voting packs that will define its future started arriving in the post yesterday.

"I cannot emphasise how important this vote is," says Willy Leferink, Federated Farmers Dairy chairperson.

"It would be incomprehensible to me if any shareholder did not vote. This is our cooperative and whether you are pro, anti or indifferent to Trading Among Farmers (TAF), we've got too much tied up in Fonterra to just shrug our shoulders.

"Ever since our Dairy Council in February resolved to ask the Board for a second vote on TAF, it's no secret Federated Farmers has enjoyed some frank discussions with Fonterra.

"We congratulate the Board for realising a second vote was needed to take the cooperative forward. Being for dairy farmers by dairy farmers, Federated Farmers will continue to ask what needs to be asked.

"The pack itself provides a lot of information so don't for heaven's sake chuck it onto the filing pile. Open it and start reading it. Talk to your neighbours, talk to Fonterra, the Shareholder's council or us. If you have any burning questions ring a Director.

"There will also be something like 50 farmer meetings in the next few weeks so get to one.

"Federated Farmers intends to bookend those meetings with ones of our own involving either Fonterra Directors, Shareholders' Council members or from Fonterra's management.

"We want to ensure our members are informed to make the right call but we'd actively encourage all shareholders to club together in groups to discuss and debate what's now before them.

"While the TAF vote will be a majority one, the Board well knows it needs a decisive shareholder mandate. There's no half-way house here as any yes vote will need to jump through a 75 percent hurdle to pass constitutional changes.

"When it comes to voting all options are available to us including post, fax or online. You can even appoint a proxy but the key date for any of these options to be exercised, is to have it done or returned by no later than 1030 am on Saturday, 23 June.

"Failing that the only other way to vote will be at one of eight special meeting venues on Monday 25 June at 1030 am.

"I can honestly say the future of Fonterra is totally within our hands," Mr Leferink concluded.

More like this

Fonterra posts solid results

Fonterra has delivered a solid half-year result, thanks to higher margins and sales volumes across the co-op's diversified product and category mix.

Featured

Sheep drench resistance costly

Analysis by Dunedin-based Techion New Zealand shows the cost of undetected drench resistance in sheep has exploded to an estimated $98 million a year.

Dairy sheep and goat turmoil

Dairy sheep and goat farmers are being told to reduce milk supply as processors face a slump in global demand for their products.

Hurry up and slow down!

OPINION: We have good friends from way back who had lived in one of our major cities for many years.

National

Govt urged to reduce ETS units

The Climate Change Commission wants the new Government to reduce NZ Emissions Trading Scheme (ETS) auction volumes as son as…

Dairy sheep, goat woes mount

Dairy sheep and goat farmers are being told to reduce milk supply as processors face a slump in global demand…

Machinery & Products

All-terrain fert spreading mode

Effluent specialists the Samson Group have developed a new double unloading system to help optimise uphill and downhill organic fertiliser…

Can-Am showcases range

Based on industry data collected by the Motor Industry Association, Can-Am is the number one side-by-side manufacturer in New Zealand.

» Latest Print Issues Online

Milking It

Papal visit

OPINION: European farmers are going to extreme lengths to have their message heard.

Thai egg tarts

OPINION: The hustle and bustle of one of Bangkok's most popular fast food outlets may feel a world away from…

» Connect with Dairy News

» eNewsletter

Subscribe to our weekly newsletter