Do you want to buy Fonterra shares?

You might be able to apply to be an Associated Shareholder.

More types of farmers can hold shares under Flexible Shareholding, helping to provide a pathway for future owners.

This section gives an overview for Farm Lessors of what’s involved in being an Associated Shareholder. For a full overview so you can make an informed decision, remember you’ll need to read the Rules for Shareholding.

I’m a Farm Lessor – am I eligible to become an Associated Shareholder?

You can apply to hold shares as an Associated Shareholder if:

  • you’re a lessor on a farm where there is a shareholder supplying milk to us;
  • you have a lease agreement or similar document with this Supplying Shareholder; and
  • the lease includes the location of the farm’s milking platform.


Sharemilkers and Contract Milkers can also become Associated Shareholders.

How many shares can I own and can I vote as an Associated Shareholder?

The maximum number of shares all Associated Shareholders for a single farm may own is equal to 1x the Share Standard for milk supplied from the farm. This excludes any shares still held by anyone who has stopped being an Associated Shareholder of the farm.

There’s no minimum shareholding requirement.

No, Associated Shareholders cannot vote because they do not supply milk to the Co-op as a Supplying Shareholder.