Dairy Farmers of Britain Transform Capital Structure
UK - Dairy Farmers of Britain has today announced proposals that will see its capital structure transformed.
9 March 2009
1 minute read
The proposals include the creation of new equity shares in the co-operative and the conversion of current member loanstocks and member investments into these new shares.
In order to enact this change, the Board of Dairy Farmers of Britain will be presenting the full details of these proposals to the Member Council later this month so that they can vote on these changes. It has also written to all loan stockholders asking them to vote in favour of this debt to equity conversion.
Commenting on the announcement, Andrew Cooksey, Chief Executive, said:
“The creation of equity shares in the business and the conversion of all existing member funds into these equity shares will radically strengthen the balance sheet of the company, reduce current and future liabilities and help to improve business stability.
“The Board believes this move is in the best interests of the business moving forward and thus with the support of our members and stockholders can ensure a sustainable future for DFB’s members and investors.”
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