NZ's Fonterra plans to implement new capital structure by late March
Reuters
Published Nov 24, 2022 03:02PM ET
(Reuters) - New Zealand dairy giant Fonterra Co-operative Group Ltd said on Friday it would implement its new capital structure, intended to make it easier for new farmers to join the co-operative, in late March next year.
The dairy firm's farmer shareholders in December last year gave the go-ahead for the capital restructuring that aims to claw back domestic market share and retain existing farmers by reducing the minimum supply requirement for farmer owners.
"We believe late March is the best date for implementation because it avoids our share trading black-out period associated with the Co-op's interim results," Fonterra Chairman Peter McBride said.
"It also gives shareholders time to fully digest the detailed information we will be sending through ahead of the implementation date, and to seek advice from their financial advisors."
Fonterra will finalise the implementation date at its interim results, currently scheduled for mid March.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.