A mass mail-out is under way to Fonterra Co-operative Group's 10,500 farmer shareholders of the voting packs for the June 25 special meeting on the controversial Trading Among Farmers scheme.
The vote is the second time the Fonterra board has sought support from the cooperative dairy exporter's members to allow
the creation of tradeable, dividend-bearing, non-voting investment units that will give non-farmer investors exposure to Fonterra's earnings for the first time.
A previous mandate was gained in June 2010, but did not present farmers with a detailed scheme.
The June 25 meeting second vote was sought because foreign partners were expressing concern farmers did not support the move.
The Fonterra Shareholders' Council, a watchdog body, has examined the detailed TAF proposal and endorsed it by an "overwhelming" majority, although the sitting chairman of the council, Simon Couper, resigned because of his concern the proposals did not sufficiently guarantee the bottom-line of 100 per cent farmer ownership.
