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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:
| RESOLUTION | RESULT
- % in favour |
| Resolution 1: Approval of remuneration of Directors | 73.73% |
| Resolution 2: Approval of remuneration of Shareholders’ Council | 75.85% |
| Resolution 3: Approval of remuneration of members of Directors’ Remuneration Committee | 80.21% |
| Resolution 4: Appointment of PricewaterhouseCoopers as auditor and authorisation of the Directors to fix the auditor’s remuneration | 94.67% |
| Resolution 5: Approval of Shareholders’ Council programme and budget | 87.53% |
| Resolution 6: Ratification of appointment of Sir Ralph Norris | 84.91% |
| Resolution 7: Ratification of appointment of Ralph Waters | 88.37% |
| Resolution 8: Constitutional Changes for Trading Among Farmers | 89.51% |
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| SHAREHOLDER PROPOSAL | RESULT - % in favour |
| McKenzie Proposal | 36.56% |
Following
the Annual Meeting, the Board formally confirmed Chair Elect John Wilson as the Chairman
of
Fonterra.
ENDS
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