Trading scheme voting opens

Voting is open for Fonterra's special meeting on the controversial Trading Among Farmers scheme.

The special meeting of shareholders will be held on June 25 at 10.30am and voting packs were now being sent out.

In April, the dairy co-operative announced the special meeting to give shareholders a final vote on the scheme and "unify the co-operative".

Shareholders will also vote on a special resolution to tighten controls on the scheme.

The principal venue will be the Claudelands Event Centre in Hamilton, which will be connected by audiovisual link to venues in Whangarei, Rotorua, Hawera, Palmerston North, Nelson, Ashburton and Invercargill.

If shareholders were unable to attend the meeting or appoint a proxy, they could still cast their vote by internet, post or fax voting. Voting by those methods closes at 10.30am on June 23.

The results would be announced as soon as counting was completed on June 25, returning officer Warwick Lampp said.

• Fonterra and the A-ware Food Group, of the Netherlands, have signed a memorandum of understanding to establish a cheese and dairy ingredients factory in the Netherlands.

Under the agreement, A-ware Food Group will operate a new cheese plant and Fonterra will operate a dairy ingredients plant alongside.

Whey and lactose produced on site would be processed into nutritional ingredients to supply Fonterra's customers throughout Europe and Asia.

The proposed investment fitted well with the strategic priorities of both companies, chief executive Theo Spierings said.

- sally.rae@odt.co.nz

 

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