27 November 2008
Fonterra Annual Meeting Voting Results
Fonterra today announced that all 10 resolutions tabled at its Annual Meeting yesterday were passed.
RESOLUTION
RESULT
RESOLUTION 1: required 50% majority
Approval of Remuneration of Directors
88.52%
RESOLUTION 2: required 50% majority
Approval of Remuneration of Shareholders' Council
85.24%
RESOLUTION 3: required 50% majority
Approval of Remuneration of Members of Directors' Remuneration Committee
90.30%
RESOLUTION 4: required 50% majority
Appointment of PricewaterhouseCoopers as auditor and authorisation of the Directors to fix the auditor's remuneration
97.21%
RESOLUTION 5: required 50% majority
Approval of the Shareholders' Council programme and budget
73.22%
RESOLUTION 6: required 50% majority
Ratification of the appointment of John Ballard
95.60%
RESOLUTION 7: required 50% majority
Ratification of the appointment of John Waller
96.13%
RESOLUTION 8: required 75% majority
Approval of changes to clauses 4 and 48.1 - Milk Price
93.08%
RESOLUTION 9: required 75% majority
Approval of changes to clause 34.1 - Directors' Remuneration Committee
93.87%
RESOLUTION 10: required 75% majority
Approval of changes to clause 39.2 - Quorum
92.29%
- ENDS -
About Fonterra
* Fonterra is the world's largest dairy exporter, with annual revenues of about NZ$17 billion*.
* As New Zealand's largest and truly multinational business, Fonterra trades in 140 countries.
* Our portfolio includes dairy ingredients, liquid and powdered milks, cultured foods and yoghurts, butter, cheese and
specialty foodservices products.
* Our brands include Anchor, Anlene, Anmum, Fresh n' Fruity, Mainland, Peters & Brownes, Tip Top, and Chesdale.
* Fonterra reported revenues of NZ$19.5 billion for 14 months ended 31 July 2008.
ENDS