|
|
|
Fonterra cans vote plans
19 Feb 2008
Fonterra has cancelled a vote on splitting the company into two, as it believes that the 75 per cent support required from shareholders would not be achieved. Chairman Henry van der Heyden said that while the May vote would not go ahead, the company would continue to discuss capital restructuring plans with shareholders. If eventually passed 20 per cent of the company could be sold to investors through a sharemarket listing. Members of the dairy co-operative were concerned about how the restructure would affect the price they received for milk which was confused by another debate about pricing mechanisms which Mr van der Heyden said would need to be addressed regardless of any changes to the capital structure.
The Australian, 19/2/2008
|
|
