Farmway Co-op, Inc. (Farmway), Beloit, Kansas, and Central Valley Ag Cooperative (CVA), York, Nebraska, have entered into a Merger Agreement through which the business operation of the two cooperatives will be combined as of September 1, 2017 upon a Membership Vote of Approval.
Kansas law requires that all members of Farmway Co-op Inc. receive notice of the special meeting of the stockholders to consider the Merger Agreement, regardless of whether the member is a voting member or a non-voting member. In order to vote in the special meeting of Farmway’s stockholders, you must a) own at least one share of common stock; b) be a producer of agricultural products; c) conduct $1,000 worth of business in 2016-2017 fiscal year; and d) attend the meeting. Proxy voting is not allowed. Each stockholder will be required to register attendance at the meeting site immediately prior to the meeting and sign a certification attesting that such stockholder is a producer of agricultural products. Letters were sent to all members Tuesday, April 25, 2017 to inform members of the special meeting.
The Board of Directors has unanimously approved the merger. By combining two strong financially-stable cooperatives in a merger, a unified cooperative would provide opportunity for expanded services and facilities, increased savings, and accelerated equity redemptions for the benefit of our member-owners.
Increasing and improving the value to the members of Farmway is our primary focus and we believe strongly that through a unified cooperative with our neighbor cooperative, Central Valley Ag Cooperative (CVA), we can improve value to you and your operation going forward. Initial merger discussions between Farmway and CVA began in January 2017, with the respective boards meeting in April to unanimously approve a merger of the two cooperatives.
A special stockholders’ meeting for the purpose of adopting and approving a merger agreement between Farmway and CVA will convene at each of the following locations at 6:00 p.m. on the dates indicated below. After discussion, the meeting will temporarily adjourn and then reconvene at the next location at 6:00 p.m. on the next date indicated.
Informational Voting Sessions, 6:00 p.m. – (Voting Optional):
- Monday, May 15: Tipton Community Center
- Tuesday, May 16: Concordia Parish Hall
- Wednesday, May 17: Lincoln Finch Theatre
- Thursday, May 18: Clifton American Legion
- Monday, May 22: Scandia Pike Valley High School
- Thursday, May 25: Clay Center United Methodist Church
Voting Sessions – (Voting open 6:00 p.m. – 8:00 p.m.)
- Tuesday, May 23: Lincoln Finch Theatre
- Wednesday, May 24: Tipton Community Center
- Tuesday, May 30: Concordia Parish Hall
- Wednesday, May 31: Clifton American Legion
- Thursday, June 1: Scandia Pike Valley High School
- Tuesday, June 6: Clay Center United Methodist Church
- Thursday, June 8: Beloit Municipal Building
Each common stockholder may attend as many meetings as they desire, but will only be allowed to vote one time. A third-party audit firm will be collecting and tabulating votes received.
The Board of Directors highly encourages you to attend and vote in support of the unification.