Annual meeting

The Annual Shareholder Meeting for Ballance Agri-Nutrients Limited was held virtually on Wednesday 29 September 2021 at 5pm. Shareholders participating online were able to view presentations from the Chair and CEO and submit questions online.

You can now view a recording of the meeting by clicking on the following link: https://youtu.be/Ir5Tp8jbd_I

We would like to congratulate Cameron Henderson who was elected to the Ballance Board of Directors for the South Ward and also Dacey Balle who was re-elected in the North Ward.

The AGM also marked the end of Murray Taggart’s tenure after 12 years on the Board. Murray has been a strong advocate for the co-operative model, and we’d like to thank him for immense contribution.

Resolutions

As well as the general order of business, three resolutions were tabled at the Annual Meeting:

RESOLUTION 1: That the directors of Ballance Agri-Nutrients Limited be authorised to fix the remuneration of the company’s auditor – KPMG.

RESOLUTION 2: That the total annual remuneration payable to all directors be increased by $25,000 to $800,000.

RESOLUTION 3: That the directors of Ballance Agri-Nutrients Limited be authorised to enter into the Borrowing Transactions for funding the Group’s working capital and investment requirements up to a seasonal peak funding requirement of $500 million.

All shareholders had the opportunity to vote on the resolutions via the Elections NZ online voting platform. The results of the resolutions were as follows:

Result of Resolution 1: Ordinary resolution passed with 96% support

Result of Resolution 2: Ordinary resolution passed with 69% support

Result of Resolution 3: Special resolution passed with 94% support