SHAREHOLDERS VOTE IN FAVOUR OF BOARD RESOLUTIONS
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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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