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Dairy Farmers milk co-op fight for their share
12 Dec 2007
Dairy Farmers milk supply co-operative is expected to appeal a court decision that has jeopardised the company's planned float or trade sale worth up to $1 billion. It may be forced to forfeit its Dairy Farmers shares after the NSW Supreme Court ruled that it was in breach of the NSW Co-operatives Act after its 20 per cent stake rose to 27.5 per cent following share forfeits by former shareholders. The supply co-operative chairman, Ian Zandstra, said: "The reason we're reluctant to forfeit is because those shares were allocated to the milk co-operative as part of the restructure, they are the assets of our members and it's not fair".
Financial Review, 12/12/2007
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