12 Sep 2009

Grant Samuel appointed as independent valuer for Fonterra

10:12 am on 12 September 2009

The Fonterra Shareholders' Council has appointed the Australasian-based investment advisory group Grant Samuel and Associates as Fonterra's independent valuer for this season.

The council appoints an independent valuer to determine the valuation range, from which the board of directors sets Fonterra's fair value share price for each season.

The valuation contract had been held by Duff and Phelps, and its antecedent, Standard & Poor's Corporate Value Consulting, since 2001.

Council chairman Blue Read says the valuer is reviewed annually, following a rigorous appointment process and international search for suitable companies.