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 will reduce its board from 11 to 9 at the completion of the 2024 annual general meeting.
This follows a vote at today’s AGM, where 88.5% of shareholders voted in support of the change.
Fonterra chair Peter McBride says that Fonterra can now move into the 2024 director elections with certainty.
“Thank you to everyone who took the time to vote. The transition to a board of nine, comprising of six farmer elected directors and three appointed directors, will be completed at the conclusion of the 2024 annual meeting, 12 months from now.”
A counter proposal by Kaikohe farmer Richard Dampney to reduce only elected directors on the board wasn’t passed. Each of his four remits garnered only between 15% and 18% of votes.
Dampney told Rural News that he isn’t surprised at the result.
He claims Fonterra’s board and Co-operative Council stonewalled him.
“They killed my remits before they could even get off the ground,” he says.
“My remits were quite similar to Fonterra’s remit, but they told shareholders to vote against my remits.”
A proposal to increase director fees was passed by 76% support and another to boost councillors’ allowance passed with 77% support.
Independent directors Bruce Hassall and Holly Kramer were re-elected for another term.
The country’s 4200 commercial fruit and vegetable growers will vote from May 14 on a new HortNZ levy.
Meat processor Alliance Group is asking farmer shareholders to inject more capital in order to remain a 100% co-operative.
A vet is calling for all animals to be vaccinated against a new strain of leptospirosis (lepto) discovered on New Zealand dairy farms in recent years.
Dairy
Rural banker Rabobank is partnering with Food Rescue Kitchen on a new TV series which airs this weekend that aims to shine a light on the real and growing issues of food waste, food poverty and social isolation in New Zealand.
Telco infrastructure provider Chorus says that it believes all Kiwis – particularly those in the rural areas – need access to high-speed, reliable broadband.
OPINION: The new government has clearly signalled big cuts across the public service.
OPINION: Your canine crusader is not surprised by the recent news that New Zealand plant-based ‘fake meat’ business is in…