Fonterra, Sharesies join to make share trading easier
Fonterra is teaming up with wealth app provider Sharesies to make it easier for its farmer shareholders to trade co-op shares among themselves.
Fonterra shareholders have approved the appointment of PricewaterhouseCoopers as auditors for another year despite reservations from some shareholders.
A resolution to re-appoint PwC was backed by 85.59% of farmers who took part in the vote.
At the co-op’s annual general meeting yesterday, former director and Northland farmer Greg Gent opposed the resolution.
Gent says he felt the relationship between PwC and Fonterra had “become too close”.
Gent says it was time to look at new auditors.
He also noted that several PwC executives have ended up on the Fonterra board.
Farmer-elected director Brent Goldsack was a partner in PwC for more than 12 years; appointed director Bruce Hassall had a 35-year career at PwC, including seven years as chief executive of its NZ practice.
Fonterra chairman John Monaghan says he was not going to support changing the auditors “on the hoof” at an AGM.
He says Gent’s comments will be considered by the board when deciding the appointment of auditors in 2020.
Other motions passed at the AGM included approving the remuneration of directors; 86.5% voted in support.
A motion by Marlborough farmer Murray Beach to overhaul the co-op’s share structure was voted down; only 12.19% voted in favour.
Federated Farmers president Wayne Langford is claiming “some real success” on the 12 policy priorities it placed before the Coalition Government.
Federated Farmers is throwing its support behind the Fast-track Approvals Bill introduced by the Coalition Government to enable a fast-track decision-making process for infrastructure and development projects.
The latest report from ANZ isn’t good news for sheep farmers: lamb returns are forecast to remain low.
Divine table grapes that herald the start of a brand-new industry in Hawke’s Bay have been coming off vines in Maraekakaho.
In what appears to be a casualty of the downturn in the agricultural sector, a well-known machinery brand is now in the hands of liquidators and owing creditors $6.6 million.
One of New Zealand’s deepest breeder Jersey herds – known for its enduring connection through cattle with the UK’s longest reigning monarch, Queen Elizabeth II – will host its 75th anniversary celebration sale on-farm on April 22.
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