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

 

"Broad-Based Growth": GDP Rises 1 Percent In June Quarter

Gross domestic product (GDP) rose 1.0 percent in the June 2018 quarter, up from 0.5 percent last quarter, Stats NZ said today. This is the largest quarterly rise in two years. More>>

ALSO:

Judicial Review: China Steel Tarrif Rethink Ordered

On 5 July 2017 the Minister determined not to impose duties on Chinese galvanised steel coil imports. NZ Steel applied for judicial review of the Minister’s decision. More>>

Debt: NZ Banks Accelerate Lending In June Quarter

New Zealand's nine major lenders boosted lending at the fastest quarterly pace in almost two years as fears over bad debts subsided. More>>

ALSO:

Balance Of Trade: Annual Current Account Deficit Widens To $9.5 Billion

New Zealand’s current account deficit for the year ended June 2018 widened to $9.5 billion, 3.3 percent of GDP, Stats NZ said today. More>>

ALSO: