Fonterra farmers split vote, approve TAF by 66.45%, miss on constitutional changes

Mon, 25 Jun 2012

By Jonathan Underhill June 25 (BusinessDesk) - Fonterra Cooperative Group’s farmers have split their vote, saying yes to the Trading Among Shareholders scheme, with 66.45 percent approval, but missing the 75 percent approval required for constitutional changes that were proposed to protect farmer shareholders. Farmers voted on two substantive resolutions today – the first, authorising the company to continue with TAF, needed a 50 percent majority. The second resolution, to create an ‘authorised fund’ with limits on its size and give farmer sh...

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