Farmers can also hold shares not linked to milk supply, within certain limits. Only supplier farmers can be shareholders. They can buy and sell shares on the Fonterra Shareholders’ Market which is a private market for farmer shareholders.
Investors who are not suppliers can purchase units in the Fund. Farmer shareholders can also trade in the Fund.
The Farmgate Milk Price is calculated by:
The Farmgate Milk Price methodology has been reviewed by competition experts Compass Lexecon, as described in the media release International Experts Endorse Fonterra Milk Price Formula.
FSF Governing Document
FSF Authorised Fund Contract
TAF Prospectus - October 2012
Supply Offer - May 2013
Custody Trust Deed for Economic Rights Trust - dated 25 October 2012
Shareholding Deed - dated 23 October 2012
RVP Custody Deed - dated 25 October 2012
Deed Poll in favour of FSM Partcipants given by the Custodian in favour of FSM Participants on 25 October 2012