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Fonterra Shareholders' Council Election Begins


13 December 2006

Fonterra Shareholders' Council Election Process Begins

In March 2007, Fonterra Shareholders' Council's new structure will come into effect. This will increase the number of Council wards from 25 to 35. It will also see a move to one Councillor per ward resulting in a reduction in the current number of Councillors from 46 to 35.

At Fonterra's Annual Meeting, in October 2006, shareholders approved changes to both the Constitution and Shareholders' Council By-laws that will enable the new structure to be implemented.

Nominations will be called for in all 35 Council wards in the New Year. All incumbent Councillors will retire and be eligible for re-election in any ward.

Fonterra shareholders are eligible to stand in these elections. Candidates do not have to live in the ward in which they are standing, but must be nominated and seconded by shareholders from that ward.

Those Councillors elected in March 2007, will serve for at least 18 months, as there will be no retirement by rotation at the 2007 Annual Meeting. Shareholders' Council elections will return to the usual rotational cycle, where an election is held in every ward every three years, from the 2008 Annual Meeting.

Warwick Lampp of electionz.com has been appointed as the Returning Officer.

Nominations open on Monday 29 January 2007 and must be received by the Returning Officer by 12 noon on Monday 12 February 2007.

Nomination forms and Candidate Information Packs will be available from the Returning Officer from Monday 8 January 2007, by phoning the Election Hotline on 0508 666 446.

ENDS

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