Tuesday 19th April 2022 |
Text too small? |
Castalia has published a report criticising Fonterra’s capital structure changes that received over 85% support from Fonterra’s shareholders in December 2021. The report was commissioned by Fonterra’s largest competitor for New Zealand raw milk.
Fonterra disagrees with the report and a number of its conclusions including the assertion that protections for a fair milk price will be eroded and that the restructure will cause Fonterra’s Milk Price to increase. Fonterra also notes that Castalia estimates Fonterra’s future share price on the basis of possible dividends up to 2030 but appears to assume that Fonterra has zero value at the end of 2030. Fonterra considers this to be a misleading approach to valuing its shares.
The report contains no perspectives not previously considered by Fonterra and discussed with shareholders in the lead up to the 2021 vote.
ENDS
No comments yet
Manawa Energy FY25 Financial Results and Annual Report
Fletcher Building Divisional Restructure, Executive Changes
May 16th Morning Report
MCY - Retirement of director
AIA - April 2025 Monthly traffic update
Sanford delivers an improved half year result
May 15th Morning Report
Devon Funds Morning Note - 14 May 2025
Winton Media Release - Ayrburn Film Hub
CEN - CONTACT ENERGY APPOINTS NEW CHIEF FINANCIAL OFFICER