Wednesday, 20 June 2012 08:22

Shareholders urged to vote

Written by 

With only a few working days before Fonterra cooperative group's 10,500 shareholders decide upon its Trading Among Farmers (TAF) proposal, Federated Farmers is imploring all shareholders to vote.

"If you intend to appoint a proxy or vote by post, then you really need to get your forms back in the freepost envelope," says Willy Leferink, Federated Farmers Dairy chairperson.

"Farmer-shareholders need to be mindful how close voting cut-offs are right now.

"Anyone intending to vote by internet or by fax needs to have it lodged by 10.30am, this Saturday, June 23.

"For postal votes or proxy appointments, these need to be physically received by 10.30am on Saturday, 23 June as well.

"Failing that, the only other way to vote is at one of eight physical venues on Monday, June 25 at 10.30am. Details of these venues are included below.

"Farmers need to remember they own Fonterra. Whatever the result of the vote, it is for the board and management to respect what we determine as shareholders.

"Right now there are too many people offering advice for or against TAF or even asking farmers to vote in line with a province. That is really unhelpful. I have voted but which way is completely irrelevant because this is an individual decision for the coop's owners.

"So forget the parochialism and the lobbying and think about your philosophy and how that sits with your vision of Fonterra's future. Your instinctive reaction is probably the most honest one to go with.

"Any intervention in shareholder decision-making only invites shareholders to seek a greater say in future board or management decisions. This is not a good model for future governance.

"I am deeply concerned that any solution to redemption risk won't stick if we just end up dividing the coop. The best way to prevent that is for us owners to front up and vote," Leferink says.

Venues for special AGM, 10.30am, Monday, June 25:

 Whangarei: Forum North, Rust Ave, Whangarei

 Rotorua: Novotel Hotel, 11 Tutanekai St, Rotorua

 Hawera: TSB Hub, Waihi Rd, Hawera

 Palmerston North: Awapuni Racecourse, Racecourse Rd, Palmerston North

 Nelson: Petite Fleur at Seifried Estate, cnr SH60 & Redwood Rd, Appleby,

Richmond

 Ashburton: Ashburton Hotel, 11-35 Racecourse Rd, Ashburton

 Invercargill: Ascot Park Hotel, cnr Tay St & Racecourse Rd, Invercargill

More like this

Fonterra's in good shape

Fonterra released its interim results last month, showing a continuation of the strong earnings performance delivered by the co-op through the 2023 financial year. Here’s what Fonterra chair Peter McBride and chief executive Miles Hurrell said about the results…

China trade

OPINION: Last week's revelation that data relating to New Zealand MPs was stolen amid Chinese state-sponsored cyber espionage targeting two arms of the country’s Parliament could test the long-standing trade relations between the two countries.

Featured

Ahuwhenua Trophy finalists showcase farms

In a few weeks the winner of the prestigious Ahuwhenua Trophy for the top Māori dairy farm will be revealed at a gala dinner in Hamilton. In the past couple of weeks, the two finalists in this year’s competition have been holding on-farm field days to showcase why they are finalists. Peter Burke has attended both field days.

NZ Agricultural Show postponed

The long-running New Zealand Agricultural Show won’t take place this year as cash-strapped organisers mull the event’s future.

Protect productivity from red tape

Productive industries shouldn’t be strangled in red tape, they need to be able to operate and grow, using technology to meet rising expectations for environmental standards, according to Dudley Clemens – environmental manager at J Swap Ltd.

Learnings from tractor incident

A near miss experienced by a North Island farmer worker when their tractor ‘park’ gear failed, has been shared as the latest Safety Alert from Safer Farms.

National

Milk price certainty

Westland Milk has reaffirmed its commitment to pay farmer suppliers 10c above Fonterra farm gate milk price for the following…

Share farmers with big plans

With only about eight weeks to go before their cows are dried off, the 2024 Manawatu Dairy Industry Awards Share…

Machinery & Products

New name, new ideas

KGM New Zealand, is part of the London headquartered Inchcape Group, who increased its NZ presence in August 2023 with…

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

Exploited by one of their own

OPINION: Milking It believes a recent Employment Relations Authority ruling on the exploitation of three migrant workers from Indonesia highlights…

'Not our fault!'

OPINION: Milking It wasn’t too surprised to hear Kiwis’ trust in media has sunk to a new low.

» Connect with Dairy News

» eNewsletter

Subscribe to our weekly newsletter