Survey shows most Fonterra farmers plan to use capital return for debt reduction
A large slice of the $3.2 billion proposed capital return for Fonterra farmer shareholders could end up with the banks.
Shareholders Council chair, Simon Couper says the announcement is an important and proactive one given the questions being raised in some parts of the shareholder base.
"This is the most important decision in the 10-year history of our co-op and it is only right that the concerns of our shareholders are heard and respected.
"Maintaining the co-op's unity is vital and, as such, shareholders must feel comfortable with the direction their co-op will travel."
Couper says this will be an opportunity for shareholders to engage with the TAF capital structure option in a constructive manner.
"There has been a lot of talk recently about ownership and control of the co-op, voting is our key control right and we must take responsibility and use it.
"I urge all farmers to demonstrate your rights and have your say in the future of Fonterra."
