Sharechat Logo

FSF - Farmers vote in favour of Fonterra's Capital Return Scheme

Wednesday 26th July 2023

Text too small?

Fonterra shareholders have today voted to pass the resolution to approve the scheme of arrangement for the Co-operative’s return of approximately $800m of capital to shareholders (Scheme), with 99.24% of the total shareholder votes cast in favour of the resolution.

 

Today’s result means that the Co-operative can now seek final Court orders to undertake the return of capital. An indicative timetable of the key steps necessary to implement the Scheme is set out below:

 

- Record Date: 22 August 2023

- Implementation Date: 23 August 2023

- Payment to shareholders: By 29 August 2023

 

If the final Court orders have not been made by 3 August 2023, the Record Date will be five business days after the date on which the final orders from the High Court sanctioning the Scheme are made. The Implementation Date will occur one business day later, with payment being made to shareholders within five business days after the Record Date.

 

ENDS



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

June 27th Morning Report
SDL - FY2026 Earnings Guidance
PaySauce Director resigns for US-based role with NZTE
General Capital Releases 2025 Annual Report
June 26th Morning Report
Devon Funds Morning Note - 25 June 2025
June 25th Morning Report
NWF - NZ Windfarms shareholders approve Meridian acquisition
GMT - GMT and GMT Bond Issuer Limited 2025 Annual Report
VSL - Vulcan extends its banking arrangement