19.82% proxies against Hinton - gives a clue how well support JH is. This will be his last period as Director
and 3.65% against WE-B
and 32.2% against increase in director rem pool. Seems they want to add an extra person (perhaps USA)
History lesson. German Holstien cows were A1 and very good at making milk - thus the expansion of A1 milk. Massive investment in in A1 cows now - so not going to change quickly. ATM has he "brand" eg Kleenex tissues - every has a tissue made by someone but refers to it as Kleenix
Takes climate change seriously. Reviewing operations to check how they are impacting on climate.
Synlait can keep up with immediate / medium future demand. But they are actively planning (with Fonterra) to ensure there is capacity to meet additional future demand
JH = "A1 protein free dairy nutrition for often vulnerable consumers" in two largest consumer economies in the world (USA / China) so marketing spend wil continue.
Chair - No word on dividends but cash has to be put to good use. They want to grow rapidly and get capital gains to shareholders - better way then dividends to return value to shareholders. When no better options for cash, dividends will be looked at. Not lying back sitting on cash pool.
JH got paid out 66% of Qantas shares vested. Vested transition shares due Aug 2019 (smaller tranche) will be sold due to prior commitments. Will hold a small % of shares. Will begin to grow ordinary shares.
Board likely to buy back from market shares for vesting so no dilution of shares.
No take or Pay element in agreement with Fontera (Jane - Fonterra isnt a publicly traded company. Mistake on her part)
FX isnt a material issue - but will look at it if need be
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