SHAREHOLDERS VOTE IN FAVOUR OF BOARD RESOLUTIONS

17 December 2012 2 min read

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Fonterra shareholders have voted overwhelming in favour of a resolution to lock in protections around the size of the Fonterra Shareholders’ Fund and the integrity of the Farmgate Milk Price. Resolution 8 was passed with 89.51% support at Fonterra’s Annual Meeting in Hamilton today.

Fonterra shareholders have voted overwhelming in favour of a resolution to lock in protections around the size of the Fonterra Shareholders’ Fund and the integrity of the Farmgate Milk Price.

 

Resolution 8 was passed with 89.51% support at Fonterra’s Annual Meeting in Hamilton today.

 

The results of the resolutions are:

 

RESOLUTION

RESULT -

% in favour

Resolution 1: Approval of remuneration of Directors

73.73%

Resolution 2: Approval of remuneration of Shareholders’ Council

75.85%

Resolution 3: Approval of remuneration of members of Directors’ Remuneration Committee

80.21%

Resolution 4: Appointment of PricewaterhouseCoopers as auditor and authorisation of the Directors to fix the auditor’s remuneration

94.67%

Resolution 5: Approval of Shareholders’ Council programme and budget

87.53%

Resolution 6: Ratification of appointment of Sir Ralph Norris

84.91%

Resolution 7: Ratification of appointment of Ralph Waters

88.37%

Resolution 8: Constitutional Changes for Trading Among Farmers

89.51%

 

 

SHAREHOLDER PROPOSAL

RESULT -

% in favour

McKenzie Proposal

36.56%

 

Following the Annual Meeting, the Board formally confirmed Chair Elect John Wilson as the Chairman of Fonterra.

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