Fonterra’s farmer shareholder council has voted in support of recommended changes to the cooperative’s capital structure, which could give share milkers and contractors the option of buying shares in the co-op. Significant consultation had been undertaken with shareholders since May and Fonterra’s cooperative council, the shareholders representatives, voted 92 per cent in favour. The recommended changes will be voted on by the cooperatives’ members and to be successful, a minimum 75 per cent of shareholders must support the resolution. The details of the recommended changes and how to vote will be included in a notice of special meeting, released to Fonterra’s farmers the day before the voting period opens next Thursday November 18. The special meeting will be held at the conclusion of Fonterra’s annual meeting on December 9th.
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