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Options for new co-op structure include reducing farmer share requirement. Dairy co-op Fonterra has announced details of potential changes to its capital structure, including reducing requirement for farmers to own one share for each kg of milk solids they supply. Choose your best value subscription option here. Already have an account? Login
Dairy giant Fonterra has laid out a range of options to strengthen its financial structure, but remains committed to co-operative ownership. Chairperson Peter McBride says the capital structure review aimed to ensure the sustainability of the co-operative into the future. Photo: RNZ / Rebekah Parsons-King The country's biggest company said the aim was to balance farmer ownership, milk supply, and secure its financial future. Among the options put out were dual share structures to allow outside involvement, splitting the co-op between supply and processing businesses, and different classes of...
Dairy farmers have six months to decide on a capital restructure for Fonterra Dairy farmers have six months to decide on a capital restructure for Fonterra 6 May 2021 Options include buying back the Fonterra Shareholders' Fund, which has been capped in the meantime. The co-op's chief financial officer, Marc Rivers, says the board will get feedback from farmers around the country from next week. He says the aim is to decide on a preferred option that can be voted on at the Annual General Meeting in November. Any restructure would require 75 percent support from farmers and unit holders and...
Thursday, 6 May 2021, 9:27 am Today Fonterra is starting a consultation process to seek farmer feedback on potential options to change its capital structure that could give farmers greater financial flexibility. To allow its farmers to have open conversations and consider all options during consultation, the Co-operative is temporarily capping the size of the Fonterra Shareholders’ Fund (the Fund) by suspending shares in the Fonterra Shareholders’ Market (FSM) from being exchanged into units in the Fund. This temporary cap will be effective once the current trading halt is lifted when...
Dairy farmers have six months to decide on a capital restructure for Fonterra Dairy farmers have six months to decide on a capital restructure for Fonterra 6 May 2021 Options include buying back the Fonterra Shareholders' Fund, which has been capped in the meantime. The co-op's chief financial officer, Marc Rivers, says the board will get feedback from farmers around the country from next week. He says the aim is to decide on a preferred option that can be voted on at the Annual General Meeting in November. Any restructure would require 75 percent support from farmers and unit holders and...