Fonterra, Sharesies join to make share trading easier
Fonterra is teaming up with wealth app provider Sharesies to make it easier for its farmer shareholders to trade co-op shares among themselves.
Fonterra Co-operative Group Limited has requested an immediate trading halt to be applied to their securities on the ASX, the NZX and the Fonterra Shareholders Market.
This trading halt comes as Fonterra awaits a decision by the arbitration tribunal considering a $980 million damages claim made against the cooperative by Danone. The Danone claim followed Fonterra’s 2013 whey protein concentrate precautionary recall.
Fonterra says it was advised it will receive the arbitration tribunal’s decision today. It says neither party has been given advance notice of the tribunal’s findings and that it will not be in a position to immediately assess any financial implications and advise the market.
Fonterra CEO Theo Spierings said the co-operative expected to make a market announcement in relation to the Danone arbitration decision as soon as possible after the decision is received.
“Fonterra remains in a strong financial position and any damages award will not affect our ability to operate. We will share further details with the market, our farmers and staff as soon as practical,” he said.
The latest report from ANZ isn’t good news for sheep farmers: lamb returns are forecast to remain low.
Divine table grapes that herald the start of a brand-new industry in Hawke’s Bay have been coming off vines in Maraekakaho.
In what appears to be a casualty of the downturn in the agricultural sector, a well-known machinery brand is now in the hands of liquidators and owing creditors $6.6 million.
One of New Zealand’s deepest breeder Jersey herds – known for its enduring connection through cattle with the UK’s longest reigning monarch, Queen Elizabeth II – will host its 75th anniversary celebration sale on-farm on April 22.
Rural trader PGG Wrightson has revised its operating earnings guidance, saying trading conditions have deteriorated since the last market update in February.
It's been a bumper season for maize and other supplements in the eastern Bay of Plenty.
OPINION: Talking about plant-based food: “Chicken-free chicken” start-up Sunfed has had its valuation slashed to zero by major investor Blackbird…
OPINION: Synlait's financial woes won’t be going away anytime soon.