We are a 100% farmer-owned co-operative, committed to capturing the real value of wool, returning profits to members and supporting industry-good initiatives.
Request a copy of the application form.
You have questions? We have answers. If you don’t see your question here, please feel free to contact us.
As a shareholder, will I be kept informed of the results of the Co-Operative?
Absolutely. Each year you will be able to download, or request a copy of the comprehensive annual report containing the audited accounts. Those with current wool trading will also receive a rebate and shareholder statement to give to their accountant.
Can I buy shares via a deduction from my CP Wool cheque?
Yes you can. Please tick the appropriate box on the application form.
If Bay de Lautour owns a large number of shares, doesn’t he have control?
It’s true that Bay is a significant shareholder, holding around 20% of the shares. The majority of these are in Redeemable Preference Shares that are being redeemed progressively so the percentage held by Bay is actually reducing year on year. And to ensure no shareholder is able to exercise an unfair influence, the Constitution specifically states that every shareholder has one vote per share but the maximum number of votes is limited to 20,000 per shareholder.
Say I stop farming. Can I cash in my shares?
Yes, you simply contact the Secretary to request your shares be redeemed. Our Constitution requires this to be at the discretion of the Directors therefore while redemption cannot be guaranteed, in the entire history of the co-operative, redemption requests have always been honoured.
What is the minimum shareholding?
The minimum shareholding is $1,000 (1,000 x $1 shares) but to maximise your cash rebate payment you should equate the number of shares purchased with the volume of wool expected to be auctioned through C P Wool in the ratio of 1 share for every 5kgs of wool.
For example, if you expect to sell 5,000kgs you should purchase 1,000 shares; if you expect to sell 25,000kgs you should purchase 5,000 shares. Where insufficient shares are held for the volume of wool sold, rebates are retained and converted to additional shares.
When are rebates paid?
Rebates are calculated after the end of each financial year and normally paid once all audit formalities have been completed.
Why would I deal with the Co-operative when it is owned or controlled by Elders?
For starters, in 2014 Elders are no longer involved as their share was purchased by Carrfields Limited, a family owned agribusiness based in Ashburton, returning Elders Primary Wool to 100% New Zealand ownership under the new name of Carrfields Primary Wool or CP Wool.
As a co-operative, Primary Wool Co-operative is owned by farmers. So Primary Wool Co-operative’s 50% ownership of Carrfields Primary Wool is also effectively owned by farmers.
Carrfields Primary Wool is a 50:50 joint venture, meaning neither Primary Wool Co-operative nor Carrfields has complete control.
There are two members from each shareholder on the Carrfields Primary Wool board, therefore neither has complete control.
Carrfields Primary Wool provides an excellent way for farmers to have ownership of their industry via a shareholding in Primary Wool Co-operative.
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