WAMMCO International is the trading name of the Western Australian Meat Marketing Co-operative Limited which is registered in Western Australia under the Co-operative Act 2009.  It's principal activities are the acquisition, processing and marketing of prime lamb.

WAMMCO is wholly owned and controlled by Western Australian lamb producers and exists solely to maximise benefits to its active members.  It is controlled by a Board of Directors comprising a strategic mix of producer members, elected by active members, and independent directors, whose appointment is confirmed by the active members. Each member receives one vote regardless of the number of shares held.

WAMMCO gives producers the unique opportunity to actively participate in, and benefit from, all aspects of their industry.

The Approved Rules of the Co-operative (updated December 2022) can be downloaded here.

See more below ↓

WHO IS AN ACTIVE MEMBER?

Rules 7 and 8 requires an active member to:

  • hold 100 ordinary shares, and
  • deliver at least 1 animal of the type being acquired by the Co-operative each year.

WHAT ARE THE BENEFITS OF MEMBERSHIP?

A ll members have entitlements to:

  • participate in any pool bonuses that may be declared
  • one vote regardless of the number (or type) of shares held
  • any dividends that may be declared
  • participation in any winding up
  • preferential access to available killing space and forward contracts on a “first come first serve basis”, over non-members

WHAT ARE POOL BONUS PAYMENTS?

Pool bonuses may be declared by the Directors based on the profitability of the Co-operative, but are only payable on livestock traded at the weekly schedule price and on forward contracts.  All other forms of purchase, including on-farm, weight-no-grade and saleyard purchases, involve transferring additional risk to the Co-operative and are excluded.

To qualify for pool bonuses members must hold 100 ordinary shares.

Pool bonuses are allocated to members in the form of shares and cash. Additional shares are only allocated until a member’s total shareholding equals twelve times the eligible deliveries (livestock traded at the weekly schedule price and on forward contracts) in the year. The balance of the pool bonus will be paid in cash.

CAN I CASH IN MY INVESTMENT?

You may sell your shares if you can find and agree a price with a purchaser who is a member of the Co-operative, or is capable of being an active member of the Co-operative. There is no formal market for the shares, and any resulting transfer is subject to Board approval.

Members who do not deliver livestock in a financial year will have their shares converted to an interest free loan. The Co-operatives rules allow for your membership to be re-instated and your shares re-issued automatically if you deliver to the Co-operative at any time in the following two years. If you do not deliver in the following two financial years your shares will be paid out.

Alternatively your shares will be redeemable at the discretion of the Board if you have either

  • exited the farming industry on a permanent basis, or
  • been inactive as a member for a continuous period of 3 years
  • Redemption is always subject to sufficient funds being available.

WHAT ARE MY RISKS?

As with any investment the risk you carry is the loss of all, or part, of the capital subscribed if WAMMCO suffers losses to the extent that the individual value of shares falls below the nominal $1.00 face value.

Any payment of pool bonuses, dividends or redemptions is dependant on profitability and the level of reserves to be maintained. There is no guarantee of any payment in any given year.

HOW WILL I BE UPDATED ON MY INVESTMENT?

All members will receive a copy of the annual reports, including the Chairman’s and CEO’s report and are entitled to attend and participate in the annual general meeting. WAMMCO also maintains communication by sending all members a newsletter (“Lambline”) on a regular basis as well as including an information supplement on WAMMCO activities (“WAMMCO Info”) in the rural press.  Monthly updates and outlooks are also given over RadioWest in a WAMMCO segment on their Rural Focus programme.  Finally regular meetings are held throughout the year in various parts of the State to allow personal interaction between members and the Board and Staff.

WHAT DO I DO NEXT?

If you are interested in becoming a member please complete and return the Shareholder Application Form (see link at top of this page). If you require additional information, contact the Company Secretary, Bruce Ede, on Tel 08 9262 0913, Fax 08 9355 0961, Email bruce@wammco.com.au or write to:


    Company Secretary
    WAMMCO International
    PO Box 4059
    VICTORIA PARK  WA  6100

Disclaimer

This above is supplied for general information purposes only and if you have any doubts or concerns you should seek independent advice from an investment advisor.

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