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

 

Shareholders approve amendments to Constitution

92.27% vote in support of constitutional changes
The vote return percentage was 27.48% of eligible votes.
Votes were received from 612 eligible voters, out of a total 6,751 eligible voters.

Dunedin Friday 14 September 2018:
A strong majority of 92% of votes have been cast in favour of amendments to Silver Fern Farms Co-operative’s constitution.

Silver Fern Farms Co-operative Chairman Rob Hewett said the strong vote in favour was pleasing, following an extensive consultation process with shareholders throughout June and July.

“The Board is very pleased that shareholders have supported these amendments,” Mr Hewett said. “We believe this up-to-date constitution will set a foundation of sustainable success for our Co-operative. The amendments will ensure the Co-operative has a process that ensures constructive rejuvenation of its governors.”

Key amendments to the constitution include; the addition of one Board appointed Farmer Director to the Board, limits on the tenure of directors, the requirement that director candidates elected by shareholder suppliers are active shareholder suppliers in the Cooperative, and continuity of voting rights for shareholder suppliers who may have restructured their family estate, trust or corporate structure to enable farm succession. The amendments also reect that the Co-operative’s businesses are now predominantly undertaken via its 50% shareholding in Silver Fern Farms Limited, rather than directly, and technical updates to bring it in-line with current practice and legislation.

“The revisions made to the make-up of our appointed Directors will ensure the Co-operative has a sound succession plan in place to ensure active farmer elected directors are well equipped and gain governance experience and insight ahead of appointment to the Board of Directors of Silver Fern Farms Limited – which is a large complex business.”

“The Co-operative sees that it has a vital role in developing future leaders for the rural community – not just within Silver Fern Farms but the many organisations that support our farmers. Being able to create a pipeline for constructive renewal in our Co-operative will assist in achieving that.”

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Trees: Surge Funding For Kauri Dieback And Myrtle Rust Research

“The $13.75 million investment announced today will mean that scientists can begin critically important research into kauri dieback and myrtle rust. It is vital that we get this work underway now to ensure that we combat these two pathogens and protect these taonga species." More>>

ALSO:

In Time For The Cup: Spark Sets 5G Date, Without Any Spectrum

Spark chief executive Simon Moutter has a big hairy audacious goal, to get the company's 5G mobile network up and running by July 2020 ... More>>

ALSO:

Mesh Mess: Commerce Commission To Appeal Steel & Tube Sentence

The Commission has today filed an appeal against the sentence imposed on Steel and Tube Holdings Limited (Steel & Tube) for false and misleading representations about steel mesh products. More>>

"Bipartisan Inaction": Rapid Rent Increases

The median nationwide rent has gone up $20 a week over the past two month, a rapid increase that is part of an upward trend overseen by both Labour and National Governments... More>>

ALSO: