Fonterra wants ‘strong’ farmer mandate for amended TAF scheme

Fri, 01 Jun 2012

By Peter Kerr June 01 (BusinessDesk) - Fonterra Cooperative Group says it won’t go ahead with its contentious Trading Among Farmers scheme without a clear mandate from its farmer members. The cooperative’s chairman, Henry van der Heyden, said that while the TAF resolution could be passed with a simple 50% majority by its 10,500 shareholders, its board will not proceed unless it has a much stronger directive. “I want a mandate that will unify the cooperative around this proposed evolution in our capital structure,” he said. The drawn-out TA...

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