Quandary for Fonterra directors after contradictory TAF vote

Mon, 25 Jun 2012

June 25 (BusinessDesk) - Fonterra directors face a quandary after two-thirds of farmer shareholders voted to support the controversial Trading Among Farmers scheme, but failed to support constitutional changes which were intended to give them protections they said they wanted against possible influence from outside investors. The first of two resolutions, requiring only a 50 percent majority to allow the TAF scheme to go ahead in principle, attracted 66.45 percent of the vote, which may be sufficient to allow it to go ahead. Fonterra chairman...

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