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.
Canterbury-based processor Synlait Milk says it has decided to take a "significant allocation" of milk from Fonterra as permitted under the Dairy Industry Restructuring Act for the year ending July 2014.
It needs the milk because further planning and a small investment in plant and equipment has created an opportunity to increase production capacity of ingredient products without impacting infant formula or nutritional product business, it says.
The extra milk will take intake and production of ingredient products higher than stated in June in its prospective financial information issued ahead of its IPO (initial public offering) and subsequent stock exchange listing on July 23.
Synlait says that while it's early in the 2013/14 season, the additional milk processed gives the company increased confidence of achieving its forecast financial result for 2014.
The total volume of milk expected to be taken is still to be finalised however DIRA permits an allocation of up to 50 million litres.
Synlait Milk will provide a general update September 24 when its annual result for the year ending 31 July 2013 is announced. Fonterra says it will announce its annual result September 25.
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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