Fonterra's board has been given the green light by its Shareholders' Council to go ahead with the launch of Trading Amongst Farmers (TAF).
Five pre-conditions were required to be met in order for the Fonterra Board to proceed with TAF, a scheme to allow farmers to trade cooperative shares among themselves, rather than continuing to require Fonterra itself to redeem unwanted shares.
The fifth TAF pre-condition was the support of at least half of the Shareholders' Council for the resolution underpinning the restructure, which received 97% support from the council.
