Outgoing Fonterra Fund chair: unitholders haven’t had 'a fair suck of the sav'

Outgoing Fonterra Fund chair: unitholders haven’t had 'a fair suck of the sav'
Fonterra chair Peter McBride had to listen to fund chair John Shewan take aim at the co-op. (Image: BusinessDesk)
Riley Kennedy
The outgoing chair of the Fonterra Shareholders’ Fund, John Shewan, has taken aim at the dairy co-operative’s handling of its planned capital restructure.The fund was launched 10 years ago this month, as a way for outside investors, who are not allowed to hold shares in Fonterra, to purchase units that are listed on the NZX Main Board and the ASX. They can be freely bought and sold in the same way as any other listed security, giving holders exposure to Fonterra's earnings stream. The fund held its annual meeting at Fonterr...

More Finance

FNZ extends controversial catch-up offer
Finance

FNZ extends controversial catch-up offer

Fintech FNZ has extended its deadline for “catch-up” equity offers, as employee shareholders say discontent grows.In March, the global fintech offered its class B shareholders a “catch-up” offer after it revealed their holdings could be massively diluted following its August capi...

Victoria Young 16 Apr 2025
The cost of over-regulated banking: $10b to $14.4b a year
Finance

The cost of over-regulated banking: $10b to $14.4b a year

Critics claim a huge annual cost from 30 years of regulatory creep.

Pattrick Smellie 16 Apr 2025
Blackbull backs Eden Bradfield into Elevation funds
Finance

Blackbull backs Eden Bradfield into Elevation funds

The Christopher Swasbrook-established fund gets new investors and portfolio manager.

Govt eagle-eyed on ComCom interchange fees decision
Finance

Govt eagle-eyed on ComCom interchange fees decision

Open banking depends on sustainable interchange fees, Minister Scott Simpson says.

Pattrick Smellie 11 Apr 2025