Our Constitution

Our constitution retains the important and highly valued features of a co-operative, and recognises the current requirements of investment focused shareholders.

The Constitution of Silver Fern Farms was adopted by special resolution on 30 July 2009.

Constitutional Review Feedback

Following a review of our constitution and feedback from our Shareholders, the Board is pleased to put forward for your support, proposed amendments to our constitution. The amendments have three objectives. These are firstly to bring the constitution into line with current practice, secondly, to reflect that the co-operative’s businesses are now predominantly undertaken via its 50% shareholding in Silver Fern Farms Limited rather than directly, and thirdly, to facilitate our co-operative’s ability to better develop its governance capability.

The Board would like to thank you for your participation in the consultation roadshow meetings and for the feedback you have provided during this process. We discussed the proposal in detail with shareholders and suppliers at 17 events through June. Some 500 people attended these events. We believe this opportunity for wide engagement has been viewed positively and are heartened by the response.

Your feedback on the original proposal has been overwhelmingly positive, with shareholders understanding the importance of developing capability to lead the Co-operative and direct our investment in Silver Fern Farms Limited.

In total, we received 10 formal responses to the proposal. Your Directors have considered this feedback.

Download Constitution Feedback

Following review, we have revised down the proposed increase in number of directors from 10 to 9. We have determined that any other significant amendments, beyond the changes proposed in the original proposal on which we consulted, are not required. A summary of the key proposed amendments to the constitution is set out in Schedule One, together with a description of feedback on the amendments received, and the Board’s response. Schedule Two sets out other matters raised in consultation and the Board’s response. A marked-up copy of the constitution (showing the proposed changes) is available here:

download Constitution with proposed changes

You are encouraged to read these carefully or to take your own professional advice on any aspects that are of particular interest to you.

A formal Notice of Meeting and voting documentation will be sent to qualifying shareholders week commencing 20th of August, 2018 with the shareholders meeting intended to be held at Silver Fern Farms’ Dunedin Corporate Office on Friday, 14 September 2018.

Only the holders as at the record date of 5.00pm on 17 August 2018 of:

  • fully paid ordinary shares; and/or
  • rebate shares that are Current Suppliers (see below),

are entitled to vote on the resolution.

All shareholders are encouraged to attend the meeting and vote on the proposed changes to the constitution.

 

 

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Notice of consultation on review of Silver Fern Farms Co-Operative Limited's constitution

8 June 2018 - We are seeking feedback from Shareholders on proposed amendments to the Constitution. You can read the consultation document and proposed revisions to the Constitution here.

Download Constitution Review Proposal

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