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Shareholders Vote In Favour Of Board Resolutions At Fonterra


17 December 2012

Shareholders Vote In Favour Of Board Resolutions At Fonterra Annual Meeting

Fonterra shareholders have voted overwhelming in favour of a resolution to lock in protections around the size of the Fonterra Shareholders’ Fund and the integrity of the Farmgate Milk Price.

Resolution 8 was passed with 89.51% support at Fonterra’s Annual Meeting in Hamilton today.

The results of the resolutions are:

RESOLUTIONRESULT -
% in favour
Resolution 1: Approval of remuneration of Directors73.73%
Resolution 2: Approval of remuneration of Shareholders’ Council75.85%
Resolution 3: Approval of remuneration of members of Directors’ Remuneration Committee80.21%
Resolution 4: Appointment of PricewaterhouseCoopers as auditor and authorisation of the Directors to fix the auditor’s remuneration94.67%
Resolution 5: Approval of Shareholders’ Council programme and budget87.53%
Resolution 6: Ratification of appointment of Sir Ralph Norris84.91%
Resolution 7: Ratification of appointment of Ralph Waters88.37%
Resolution 8: Constitutional Changes for Trading Among Farmers89.51%

SHAREHOLDER PROPOSAL RESULT -
% in favour
McKenzie Proposal36.56%


Following the Annual Meeting, the Board formally confirmed Chair Elect John Wilson as the Chairman of Fonterra.

ENDS

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