New Zealand dairy giant Fontarra has confirmed that its farmer-shareholders will vote on capital restructuring proposals at its annual meeting next month.
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In a statement, the cooperative’s chairman Sir Henry van der Heyden said the company had already received feedback from farmers at 77 meetings around the country.
“We had a record turnout of 3500 farmers at the meetings. We’re encouraged so many farmers attended to give us their views,” he commented.
As a result of the meetings, Fonterra will make some changes to the first step of the three-step proposal, strengthening the share structure.
Shareholders will receive a detailed proposal later next week.
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