AGM

The first AGM of Walnuts NZ Co-operative Ltd will be held at 3pm on Saturday 30 July. Shareholders will receive further details within the next couple of months. Under our constitution, directors’ terms are for three years. To set up the required pattern for the future, three of the seven current directors are retiring this year (and are making themselves available for re-election): these are Graeme Nicholas, Frank Brenmuhl and Andrew Horsbrugh. You are welcome to nominate other shareholders to stand in this election at the AGM, and you will receive nomination papers prior to the AGM. The total number of directors is seven under our constitution.

Voting at the AGM – Under our constitution, shareholders have one vote for every 500 shares (or part thereof) they hold. So, for example, shareholders with 150 shares or with 400 shares would each have one vote, a shareholder with 5000 shares would have 10 votes. Voting is capped at 20%, so if any grower owns more than 20% of the total shares of the co-operative, they still only get 20% of the votes – this is to protect the influence of our smaller shareholders.

 

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