Shareholders asked to consider additional resolution
Producer shareholders will be asked to consider an additional resolution, which does not relate directly to the proposed changes to the Zespri Constitution. Resolution seven is to obtain shareholder approval for:
- Share issuances to producers that have no shares or are undershared
- Buy-backs from shareholders that have no production, are overshared, and/or have shares above one share per tray of actual production and;
- Distribution of any excess capital resulting subject to the needs of the business at the time.
Where these transactions exceed the financial threshold for a major transaction under the Companies Act. This vote is based on the current production-based voting cap. See the updated version of the Information Pack (January 2018) for further details.
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.