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.
Labour's primary industries spokesperson Damien O'Connor says the second TAF vote must be "comprehensive and democratic".
He wants a postal ballot, rather than voting at a special meeting to be held on June 25.
"All Fonterra farmers must be given the right to have their say on the core issue of whether TAF is needed, and not be distracted by the issues of milk price and share value.
"The message I get from a growing number of farmers is that each and every one of them wants to see the full details and due diligence on TAF proposals and then make a decision to support it or not by way of postal vote.
"Any attempt by Fonterra to seek partial endorsement of TAF, before the details are known by its shareholder-farmers, is, in my view, an undermining of their basic shareholder rights."
O'Connor also wants the Dairy Industry Restructuring Amendment Bill currently before Parliament to be withdrawn until a clear mandate is received for TAF to proceed.
"The legislation as it stands will create a dilemma for farmers and will impose milk price interference and manipulated share price on their cooperative if they reject TAF.
"Fonterra's directors have astutely recognised the growing concern among farmers regarding the proposed changes, which have yet to be fully detailed or explained by the board of Fonterra."
The country’s 4200 commercial fruit and vegetable growers will vote from May 14 on a new HortNZ levy.
Meat processor Alliance Group is asking farmer shareholders to inject more capital in order to remain a 100% co-operative.
A vet is calling for all animals to be vaccinated against a new strain of leptospirosis (lepto) discovered on New Zealand dairy farms in recent years.
Dairy
Rural banker Rabobank is partnering with Food Rescue Kitchen on a new TV series which airs this weekend that aims to shine a light on the real and growing issues of food waste, food poverty and social isolation in New Zealand.
Telco infrastructure provider Chorus says that it believes all Kiwis – particularly those in the rural areas – need access to high-speed, reliable broadband.
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