A group of Silver Fern Farms shareholders who oppose the company's proposed joint venture with Shanghai Maling Aquarius say their offer of a $90 million alternative capital raising proposal remains a live issue just days before the deal goes to the vote.
Activist shareholders in Dunedin-based Silver Fern Farms have urged farmers to vote against Shanghai Maling's offer to inject $261 million into the company, which would make it debt-free, so that the alternative proposal can be considered.
One of the shareholders behind the alternative capital raising, Clinton farmer John Cochrane, said the company was in better shape than many had understood, and that an alternative capital raising, through an underwritten rights issue, was a viable option. The Chinese joint venture goes to the vote on October 16.