Fonterra Appoints Advisors for Next Stage of Trading Among Farmers

The Joint Lead Managers will advise and assist in the development and launch of the Fonterra Shareholders' Fund. Initially, they will work to ensure the Co-op is ready to fulfil its corporate finance and financial reporting obligations under Trading Among Farmers.

13 April 2012 --- Fonterra Co-operative Limited has appointed financial services advisors to assist in preparing the Co-op for the launch of Trading Among Farmers in November.

Craigs Investment Partners was confirmed as the Registered Volume Provider for the Fonterra Shareholders' Market.

Chief Financial Officer Jonathan Mason said the appointment of a well-known New Zealand organisation to this role represents another important Trading Among Farmers milestone.

"The Registered Volume Provider will be a market maker in the Fonterra Shareholders' Market, where farmer shareholders will be able to buy and sell among themselves.

"The role will include responsibility for creating a transparent market, and ensuring there are sufficient buy and sell orders aimed at creating market depth so that prices don't fluctuate unduly."

Deutsche Bank/Craigs Investment Partners, UBS, and Goldman Sachs were also confirmed as the "Joint Lead Managers" on Trading Among Farmers.

"The Joint Lead Managers will advise and assist in the development and launch of the Fonterra Shareholders' Fund.  Initially, they will work to ensure the Co-op is ready to fulfil its corporate finance and financial reporting obligations under Trading Among Farmers.

"After July, they will also be responsible for building understanding among farmer shareholders and investors who want to buy units in the Fund," said Mr Mason. 

The Board and Shareholders' Council meanwhile are continuing their due diligence process to ensure that the pre-conditions on which farmers voted can all be met  and delivering on 100 per cent farmer control and ownership