[30 May/Farmers Weekly]

Primary Wool Co-operative shareholders have backed the board, voting to support the organisation’s proposed future direction. At the annual meeting in Dannevirke, shareholders provided overwhelming support for two key resolutions that incoming chairwoman Janette Osborne says cement a strong footing for the future. Osborne was elected to take over following 44 years of service by outgoing chairman Bay de Lautour. Farmer shareholders voted in favour of maintaining PWC’s 50% shareholding in CP Wool. There was also 98% support for a constitutional change enabling a capital raise to back CP Wool’s five-year strategic plan. CP Wool chairman Craig Carr said the company’s five-year strategic plan covers several key areas of focus including raising awareness among consumers globally of NZ wool as a valuable and versatile natural fibre. Osborne reported that it was fantastic to see farmer shareholders emphatically supporting the future direction of their co-operative and the New Zealand wool industry as a whole and that they were thrilled to have established such a strong platform for the future.