Fonterra needs 75% farmer-shareholder support for TAF go-ahead

Fri, 01 Jun 2012

By Pattrick Smellie (Fixes maximum fund size in 3rd graph) June 1 (BusinessDesk) - Fonterra will require a 75 percent majority from its 10,500 farmer-shareholders to move ahead with its proposal to create non-voting, tradeable units allowing arms-length investment in New Zealand's largest business by non-farmers for the first time. In a bid to garner farmer support, and to build a fund no larger than is regarded as necessary to give Fonterra a less volatile capital base, the latest proposals reduce the potential size of the fund, compared to...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Markets FREE
Eroad shares on the road to recovery
Ella Somers | Thu, 07 Jul 2022

Jarden wealth management director Greg Main said Eroad was continuing its “recent recovery” and rising strongly after being heavily sold down.

Global Events
Jacinda Ardern soft-pedals on China’s Pacific ambitions
Pattrick Smellie | Thu, 07 Jul 2022

The prime minister has offered a conciliatory view of China's potential to do good in the Pacific region, as tensions between Beijing and Wellington grow over Chinese strategic ambitions in the region.

Primary Sector
Foot-and-mouth disease risk low from Indonesian PKE says Biosecurity NZ
Rebecca Howard | Thu, 07 Jul 2022

Biosecurity NZ sent a team to Indonesia for an extra level of assurance. 

Sponsored
How can Kiwi small business owners manage rising inflation?

Xero MD Craig Hudson says small businesses have been hit with a triple whammy.

Sponsored
Digital innovation could shape the future of NZ

The digital age allows us to collaborate on some of our greatest scientific and environmental challenges