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Notice of Meeting sent to shareholders

Tue, February 20th, 2018 Filed under

The Notice of Meeting, advising shareholders that Zespri Group Limited will hold a Special Meeting of Shareholders on Wednesday, 14 March 2018 was sent to shareholders on Tuesday, 20 February. 

The Notice of Meeting sets out the shareholder resolutions, together with explanatory notes and a guide to the voting process. The voting process is relatively complex, with certain votes required under the Zespri Constitution and the Kiwifruit Export Regulations, and separate votes for shareholder interest groups under the Companies Act.

The recommendations include two key aspects:

  • A share cap to improve alignment between production and shareholder, with a maximum shareholding of four shares for each tray of production. A requirement to sell would only apply to currently overshared producers after a transition period. Similarly, a voting cap would be introduced with one voting share for each tray of production.
  • Dividend restrictions on shareholders who are no longer producing shareholders. A dividend would not be paid to a shareholder that is not a producer as at the record date for that dividend. This would also only apply after a transition period.

To download a copy of the Notice of Meeting and associated documents, please click on the links below:

Whilst Zespri has endeavoured to ensure that the information provided in these documents is accurate, the proposals for amendments to Zespri's constitution are still in the process of being finalised, and therefore may be subject to change. Zespri shall not be directly or indirectly liable (whether in contract, tort or otherwise) to any person for any statement, representation, misrepresentation inaccuracy, omission or otherwise in respect of, or any reliance by any person on, any information or documentation Zespri or any of its representatives directly or indirectly makes available or otherwise discloses (whether orally or in writing) in this document or in relation to this document. Updates to the proposals will be made available here on the website and the final proposals will be contained in the proposed constitution issued for voting purposes prior to the Special Meeting.