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Sheep and beef farmers support Beef + Lamb NZ resolutions

20 March 2014

Sheep and beef farmers support Beef + Lamb New Zealand Annual Meeting remits and resolutions

Sheep and beef farmers have supported all of the farmer remits and resolutions put to the Beef + Lamb New Zealand Annual Meeting, held in Feilding last Friday.

The company resolutions put forward by Beef + Lamb New Zealand included:-
• No change to the maximum annual aggregate remuneration to be paid to directors, set at $320,250 for the year to September 2014.
• Reappoint KPMG as the Beef + Lamb New Zealand auditor for 2014.
• The formation of Beef + Lamb New Zealand Genetics, where Beef + Lamb New Zealand combines its current genetics investments into one entity and accesses an increased financial contribution from the Government through to 2018.

The farmer remits put forward by farmers as a means of testing farmer opinion and to guide their organisation’s board included:-
• Use of remaining wool levies to prepare a business case and referendum proposal for a new wool levy. Put forward by the independent Wool Levy Review Group.
• Provide funding to the Meat Industry Excellence (MIE) group to secure red meat sector reform as indicated in the Red Meat Sector Strategy. Put forward by Meat Industry Excellence.

Electionz.com conducted the vote on behalf of Beef + Lamb New Zealand and they reported the following results:-

Resolution 1 – Directors Remuneration
(one person, one vote)

ForAbstainAgainstBlank
Votes by Farmer2,279717427
Votes as a % of Famers who voted92.98%2.90%3.02%1.10%

Resolution 2 – KPMG be re-appointed as Auditor
(one person, one vote)

ForAbstainAgainstBlank
Votes by Farmer2,301704040
Votes as a % of Famers who voted93.88%2.86%1.63%1.63%

Resolution 3 – Investment in B+LNZ Genetics Ltd
(weighted vote)

ForAbstainAgainstBlank
Votes by declared livestock numbers43,5641,8449,329991
Votes as a % of declared livestock numbers78.17%3.31%16.74%1.78%

Farmer Remit – Wool Levy Group
(sheep farmer weighted vote)

ForAbstainAgainstBlank
Votes by declared sheep livestock numbers22,9921,0819,131692
Votes as a % of declared sheep livestock numbers67.83%3.19%26.94%2.04%

Farmer Remit – Meat Industry Excellence Group (MIE)
(weighted vote)

ForAbstainAgainstBlank
Votes by declared livestock numbers34,2712,58317,914960
Votes as a % of declared livestock numbers61.49%4.64%32.15%1.72%

The number of farmers voting was 14.30%, being 2,451 valid votes received from 17,142 farmers on the B+LNZ voting register. The weighted voting percentage represents 24% of the potential total weighted vote based on sheep (30.9 million), beef (3.69 million) and dairy (6.44 million) livestock numbers at 30 June 2013, Electionz.com reported.

The results of the farmer remits will be considered by the Beef + Lamb New Zealand Board when it meets in April.

About Beef + Lamb New Zealand:
Beef + Lamb New Zealand Ltd is the farmer-owned industry organisation representing sheep and beef farmers. By Farmers. For Farmers. Beef + Lamb New Zealand Ltd works to support a confident and profitable sheep and beef industry by helping farmers make informed business decisions and promoting their collective interests.

www.beeflambnz.com

ENDS

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