Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Fight Not Over Says Sharemilking Leader

"Disappointed but not deterred," was Sharemilkers' Section Chairman Conall Buchanan's, response to Friday's news that a motion to allow for Sharemilker Shareholding in New Zealand Dairy Group did not gain enough support from suppliers to be carried.

NZDG suppliers met on Friday at a Special Meeting to vote on several issues, including sharemilker shareholding.

Mr Buchanan said that because sharemilker shareholding would require a change to NZDG's constitution, Friday's motion required 75% supplier support, and it had only gained 70% support.

Despite being disappointed with the result, Mr Buchanan said that some positives came out of the day.

"The fact that sharemilker shareholding was put before suppliers is a real achievement in itself," he said.

"I was heartened by the level of supplier support for the motion. I was also encouraged that the entire NZDG Board unanimously supported the motion for sharemilker shareholding."

"Although today's vote was lost, it by know means signals the end of the road for Sharemilker Shareholding," concluded Mr Buchanan.

ENDS For further information: Conall Buchanan 07-867-7880 or 025-722-986 Kevin Westbury 07-889-6306 or 025-668-8048

© Scoop Media

Business Headlines | Sci-Tech Headlines


Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>


Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>



Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news