LIC ends year with $30.6m profit
Herd improvement company LIC has ended the 2024-25 financial year in a strong position - debt-free and almost quadrupling its net profit.
Nominations closed on July 26 for candidates wanting to stand for the two available Ravensdown director positions – one in the North Island area and one in the South Island area.
As Wills was the only candidate nominated for the North Island area, there will be no election. However, five candidates were nominated for the South Island area where, incumbent director, Pete Moynihan is retiring after serving 11 years in office.
They are:
- Jonathan Cameron, an independent director of large rural vet group, Veterinary Enterprises and Tupu Angitu (iwi-owned 35,000 ha of forest), and chair of New Zealand Forest Managers.
- Simon Davies, a farmer managing Toko Farms, a 9,500su sheep, beef and dairy support farm. He is a previous president of Otago Federated Farmers and prior member of the Beef and Lamb Farmer Council.
- Kate Faulks, farmer and director of Altavady Farm and Glenkerry Farm (beef, dairy and forestry family farming group) and a member of the North Otago Sustainable Land Management Group steering board.
- Jolene Germann, a hands-on farmer and agribusiness consultant. She is currently an equity partner and sharemilker of Fast Track Dairies - a 200ha dairy farm.
- Glen McDonald, a director and farm manager of Kinaston Farming, a 1176ha breeding / finishing unit. His community roles include being a member of both the Roxburgh Medical Services Trust and Teviot Valley Water Care committee.
Voting packs will be posted to all South Island shareholders on August 23, 2024. Voting packs will include PIN details to enable shareholders vote to be cast online or by returning the printed voting form in a pre-paid envelope.
Voting will close at midday on 23 September.
