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.
Chinese media say Fonterra’s two directors on its joint venture, Beingmate have expressed reservations about a new independent director approved by the board recently.
Fonterra Chinese operations head and Beingmate director Christina Zhu is quoted saying the outgoing director Liu Xiaosong had extensive experience in financial accounting and internal control.
He played an important role in corporate governance and internal auditing as the audit committee chairman.
“The company is currently faced with many complex financial, internal control and accounting issues, and has been repeatedly concerned about inquiries by the Chinese Securities Regulatory Authority.
“The company is also in a difficult business environment and faces many challenges. Therefore, it is urgent to have a person with rich financial and accounting experience – an independent director with an internal control background and experience in corporate management and/or financial accounting practices to succeed Mr Liu Xiaosong.”
The reports said that while new director Ma Juan is well educated and has an academic background, she does not have a professional accounting background or knowledge and financial audit experience.
“The Beingmate company is facing a lot of financial and internal control issues, and the independent director will also serve as a member of the audit committee.
“Although Ms Ma Juan has the qualifications for a single director, she is not suitable at this time as a candidate to replace Liu Xiaosong.”
Zhu and Priem recommended another candidate for the board but that person did not succeed.
The Commerce Commission says connectivity options for rural New Zealanders are front-of-mind as it begins a formal investigation into the future of the copper network.
Grand Finalists have been selected, all regional finals have concluded, and the journey towards the FMG Young Farmer of the Year Grand Final is underway.
Hopes of NZ sheepmeat prices picking up anytime soon in the country's key export market of China looks highly unlikely.
Regional councils are welcoming the certainty for councils in today’s Resource Management Act (RMA) announcement by the Government.
ASB says the decision to sign on to the AgriZeroNZ joint venture came out of a wish to be a part of the solution.
Federated Farmers says changes announced to the Resource Management Act today mark the end of the war on farming.
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