Results of 2009 AGM voting confirmed

Media Release
DATE: _19 March 2009

Meat & Wool New Zealand confirms results of 2009 AGM voting

Levy payers supported both Company Resolutions and one of three Farmer Resolutions (Remits) voted on at the Meat & Wool New Zealand Annual General Meeting held at Glen Islay Station on 11 March 2009. The results for each resolution are presented below.

COMPANY RESOLUTION NO.1 – based on one person one vote
That the Board’s recommendation that KPMG be re-appointed as Meat & Wool New Zealand Ltd’s auditor for the year ending 30 September 2009 be approved.

Resolution 1 - Carried
For 283
Against 7

COMPANY RESOLUTION NO.2 – based on one person one vote
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 2010 therefore to remain set at $283,250.

Resolution 2 - Carried
For 285
Against 9

FARMER RESOLUTION (REMIT) NO.1 – based on weighted voting
That the Chairman of Meat & Wool New Zealand provide a full detailed breakdown of the use of the Wool levies collected since the inception of Meat & Wool New Zealand. The level of detail required would enable levy payers to trace the spend to the specific projects and include detailed calculation of the return on the spend that Meat & Wool New Zealand believe has been delivered to levy payers.

The outcome sought is that the detailed financial report should be furnished not only to the industry organisation concerned (Meat & Wool New Zealand) but also posted on the Meat & Wool New Zealand website for the benefit of levy payers and all other interested parties
Proposer of Remit: Anne Munro

Remit 1 - Carried
For 10,070
Against 427

FARMER RESOLUTION (REMIT) NO.2 – based on weighted voting
That Meat & Wool New Zealand cease spending levy money on the NAIT concept.
Proposer of Remit: Lachlan McKenzie

Remit 2 - Lost
For 3,302
Against 7,301

FARMER RESOLUTION (REMIT) NO.3 – based on weighted voting
That Meat & Wool New Zealand support an independent democratic referendum on the NAIT proposal.
Proposer of Remit: Bruce Wills

Remit 3 - Lost
For 3,346
Against 7,227

The Meat & Wool New Zealand Board will review these outcomes at its April meeting.

ENDS

© Scoop Media