Fonterra shaves 50c off forecast milk price
Fonterra has dropped its forecast milk price mid-point by 50c as a surge in global milk production is putting downward pressure on commodity prices.
They are Penny Smart, Central Northland, Julie Pirie, Hauraki / Coromandel, Grant Wills, Matamata, Kevin Ferris, Te Awamutu, Rob Poole, Egmont Plains, Charles Whirehead, Ashburton, Ad Bekkers, Otago and Vaughan Templeton, western Southland.
However, an election is required in four seats.
For the Eastern Bay of Plenty, Gerard van Beek and Wilson James will battle it out. Northern Taranaki is also a two-way battle between Mark Hooper and Kevin Turnbull.
In Hawke's Bay, four candidates are registered - Eliot Cooper, David Hands, Andrew Hardie and Ivan Knauf.
The Tasman / Marlborough election will feature Sue Brown, Neil Sixtus and Wayne Langford.
Nominations for the elections closed yesterday.
The candidates for the Fonterra board of directors' election will be announced on Tuesday, 13 October 2015 following the completion of the Candidate Assessment Panel (CAP) process.
The returning officer, Warwick Lampp, confirmed there will be no election required for the Directors' Remuneration Committee, as shareholders David Gasquoine and Stephen Silcock have been elected unopposed.
Voting Packs, containing candidate profiles, will be mailed to eligible shareholders on Friday, 30 October 2015.
Shareholders can vote by internet, fax or post, using the Single Transferable Vote (STV) system.
The voting period is from Friday, 30 October until 10.30am on Monday, 23 November 2015 with the results being announced later that day. Fonterra's annual meeting will be held at Waitoa on November 25.
