FSF - Financial Assistance for Enforced Compliance Trading

Thursday 1st February 2024

Fonterra Co-operative Group Limited (Co-operative) advises that in accordance with clause 4 of its Constitution, it has arranged the purchase of shares for 40 shareholders who held less than their minimum required shareholding for the 2023/24 season as at 1 December 2023.

In arranging the purchase of those shares, the Co-operative has advanced financial assistance to the relevant recipients.

The Co-operative therefore provides this announcement pursuant to section 80 of the Companies Act 1993.

In accordance with its Constitution, the Co-operative will deduct the full amount of the financial assistance, being the cost of the shares and administration costs, together with interest, from the milk payments for the relevant shareholder recipients.

Financial assistance

Shares in respect of which the financial assistance has been provided: 268,977 Co-operative Shares

Consideration paid for the Shares: NZD658,993.65

Recipients of the financial assistance: Shareholders who held less than their minimum required shareholding for the 2023/24 season as at 1 December 2023, and who had not purchased those required shares as at the date enforced compliance trading commenced.

Nature and amount of the financial assistance: The cost of the shares and administration costs (including brokerage of NZD10,283.46) all of which will be deducted from the milk payments for the relevant recipients.

ENDS

Provision of Financial Assistance for Enforced Compliance Trading

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