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Beef + Lamb New Zealand resolutions pass

Beef + Lamb New Zealand resolutions pass

4 April 2017

Farmers have supported the three resolutions made at the Beef + Lamb New Zealand Annual Meeting on 30 March 2017.

They related to changes to the Beef + Lamb New Zealand Constitution, changing the directors’ fees pool and appointing an auditor.

The official results from Electionz.com who conducted the vote on behalf of Beef + Lamb New Zealand are:-

RESOLUTION 1 - FARMERS’ SPECIAL RESOLUTION (weighted vote)

(i) That the amendments to Beef + Lamb New Zealand Ltd’s constitution (the Constitution), being those amendments summarised in this Notice of Annual General Meeting of Farmers (Amendments), be approved; and (ii) that Meat and Wool Trust Limited (as the sole shareholder of Beef +Lamb New Zealand Ltd) be directed to alter the Constitution of Beef +Lamb New Zealand Ltd to incorporate the Amendments.

ForAbstainAgainstBlank
Votes by Farmer35,0699071,263328
Votes as a % of weighted votes cast93.35%

2.41%3.36%0.87%

Resolution 2 - FARMERS’ ORDINARY RESOLUTION (one person, one vote)

That the increase proposed to the total aggregate amount payable by way of directors’ fees from $320,250 per annum to $331,400 per annum (being an increase of $11,150 per annum), to give effect to the recommendations of the Independent Board Remuneration Committee, be approved.

For

AbstainAgainst

Blank

Votes by Farmer1,06074653 12

Votes as a % of Famers who voted58.92%4.11%36.30%0.67%

Resolution 3 - FARMERS’ ORDINARY RESOLUTION (one person, one vote)

That KPMG be appointed as Beef + Lamb New Zealand Ltd’s auditor for the year ending 30 September 2017.

ForAbstain

Against

Blank

Votes by Farmer1,715303717
Votes as a % of Famers who voted

95.33%

1.67%2.06%

0.94%

The voting percentage, excluding proxy votes is 11.06%, being 1,799 votes received from 16,261 farmers, of which 53.79% voted by post and 46.21% voted online.

For more information please contact, Warwick LamppReturning Officer – Beef + Lamb New Zealand Ltd phone 0800 666 030.

About Beef + Lamb New Zealand:

Beef + Lamb New Zealand Ltd is the farmer owned industry organisation working for a confident and profitable sheep and beef industry. It works to help farmers make informed business decisions and promote their collective interests. Priorities include investing in research and development that meets the needs of farmers and the sector, developing farm and farmer capability and delivering knowledge that drives farm performance. It also works to attract and retain talent for the sector, supports the sector’s market opportunities, advocates for farmers ability to operate and builds sector confidence and profile within communities.


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