Friday 4th November 2022 |
Text too small? |
Fonterra Australia Pty Ltd, Fonterra Milk Australia Pty Ltd and Fonterra Brands (Australia) Pty Ltd (collectively, Fonterra Australia), subsidiaries of Fonterra Co-operative Group Limited, have reached an agreement to settle class action proceedings filed on behalf of affected farmers relating to events in 2016.
The settlement, which is made without any admission of liability, is subject to Court approval.
The settlement sum of AUD $25 million inclusive of interest and all costs, if approved, has already been provided for in the prior year’s financial statements and will not have a material impact on Fonterra Co-operative Group Limited’s financial position.
-ENDS-
No comments yet
Fonterra appoints permanent COO
Manawa Energy FY24 Annual Results & Webcast Details
Seeka Provides the Results of Meeting - ASM
April 19th Morning Report
PGW Guidance Update
CNU - Commerce Commission releases draft expenditure decision
Spark announces departure of Product Director
TGG - T&G appoints new Director
April 18th Morning Report
SKC - APPOINTMENT OF CHIEF EXECUTIVE OFFICER