Meat & Wool New Zealand farmer remit results

15 March 2007

Meat & Wool New Zealand farmer remit results

The three farmer remits presented to the Annual General Meeting of Meat & Wool New Zealand, held in Wanaka last week, have not been supported by those voting.

The remits and results, with voting based on livestock numbers, were:-
FARMER RESOLUTION (REMIT) NO.1
That Meat & Wool New Zealand combine with Federated Farmers to bring pressure to bear on DISCO and the Government in order to bring finality to Wool Board/DISCO breaches of statutory duty/litigation.
Proposer of Remit: Pat O'Sullivan, Blenheim

For
Against
Remit 1
4,640
8,464 Lost

FARMER RESOLUTION (REMIT) NO.2
That Meat & Wool New Zealand advance a minimum $100,000 development funding for the Wool Equities Limited Shareholders Trust (W.E.L.S.T.). The money would be used for technology transfer to increase returns to wool growers.
Proposer of Remit: Pat O'Sullivan, Blenheim

For
Against
Remit 2
3,189
9,865 Lost

FARMER RESOLUTION (REMIT) NO.3
That Meat & Wool New Zealand actively work with other primary production agencies, eg Fonterra, Forest Industries, Federated Farmers to counteract the global warming taxes/regulations that the Govt and National Party will impose on agriculture without clear supporting science for such taxes.
Proposer of Remit: Pat O'Sullivan, Blenheim

For
Against
Remit 3
6,394
6,547 Lost

Meat & Wool New Zealand Chairman, Jeff Grant, said the constitution provided that remit results were not binding on the organisation, but they were an indication of farmer views and the remits and voting results would be considered at the next board meeting.
The two company resolutions were carried on the basis of one farmer one vote, and those results were:-

COMPANY RESOLUTION NO.1
That the Board's recommendation that KPMG be re-appointed as Meat & Wool New Zealand Ltd's auditor for the year ending 30 September 2007 be approved.

For
Against
Resolution 1
283
8 Carried

COMPANY RESOLUTION NO.2
That there be no change to the maximum annual aggregate remuneration and benefits to be paid to directors (for services as a director), with amounts payable for the financial year ending 30 September 2008 therefore to remain set at $283,250.

For
Against
Resolution 2
282
11 Carried

The votes include postal votes, proxy votes and votes cast at the meeting.

ENDS

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