17 December 2012
Shareholders Vote In Favour Of Board Resolutions At Fonterra Annual Meeting
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:
RESOLUTIONRESULT -
% in favourResolution 1: Approval of remuneration of Directors73.73%Resolution 2: Approval of remuneration of Shareholders’ Council75.85%Resolution 3: Approval of remuneration of members of Directors’ Remuneration Committee80.21%Resolution 4: Appointment of PricewaterhouseCoopers as auditor and authorisation of the Directors to fix the auditor’s
remuneration94.67%Resolution 5: Approval of Shareholders’ Council programme and budget87.53%Resolution 6: Ratification of appointment of Sir Ralph Norris84.91%Resolution 7: Ratification of appointment of Ralph Waters88.37%Resolution 8: Constitutional Changes for Trading Among Farmers89.51%
SHAREHOLDER PROPOSAL RESULT -
% in favourMcKenzie Proposal36.56%
Following the Annual Meeting, the Board formally confirmed Chair Elect John Wilson as the Chairman of Fonterra.
ENDS