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
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.
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