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Fonterra Shareholders Urged To Vote

2 May 2005
PR 056/05

Fonterra Shareholders Urged To Vote

Fonterra shareholders are encouraged to have their say on their co-operative's proposed new capital structure at a special meeting this Thursday, said Kevin Wooding, Chairman of Dairy Farmers of New Zealand.

"The evolution of the capital structure is a significant development for the co-operative, with Fonterra's board and management seeking a strong mandate from the majority of the shareholder base," Mr Wooding said.

Dairy Farmers of New Zealand, the dairy group of Federated Farmers of New Zealand, has taken a lot of interest in the capital structure review.

"Last year we published four independent discussion papers about Fonterra's capital structure and in particular the co-op's fair value shares and peak notes.

"DFNZ wanted to give its members independent, reliable and up-to-date information about Fonterra's capital structure to get the best possible outcome for the co-operative and farmer shareholders," Mr Wooding said.

To help shareholders attend the meeting, buses have been organised to provide free transport to each of the seven venues. These buses will depart from key areas around the regions and further details can be obtained by calling Fonterra's contact centre on 0800 656568.

Shareholders unable to attend any of the seven venues can still exercise their vote by completing the proxy form sent to them in early April. This will allow another person to vote on their behalf and ensure they have their say in the future of Fonterra.

ENDS

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