WAMMCO International is the trading name of the Western Australian Meat Marketing Co-operative Limited.

The ownership and control of the Co-operative is vested in its shareholding members. Each shareholder is entitled to 1 vote, regardless of the number (or type) of shares held.

The composition of the Board of Directors is a balance of member elected producer directors and appointed independent directors. Members do not elect the independent directors but must confirm their appointment.

All active shareholders have the following entitlements:

• participation units in the ratio of 1 for each 8 shares held, or in the course of being acquired. The total number of participation units a member holds determines the extent of their entitlement to:
  • any pool bonus (based on patronage) that may be declared.
  • preferential access to available killing space, on a “first come first serve basis”, over non members
  • preferential access to available forward contacts
• voting rights
• any dividends that may be declared
• participation in any winding up

Foundation Shareholders

These shares were issued free of charge to Western Australian producers who applied, based on their patronage prior to the 31 August 2003. They are no longer available and foundation members seeking to increase their shareholding (and hence their participation units) must do so by taking-up subscription shares.

Foundation shareholders have participation units based on 1 lamb for each 8 shares held.

Subscription Shares

These shares are the means by which producers may become members of the Co-operative, or by which existing memebers may increase their shareholding.

Subscription shares entitle a member to 1 participation unit for each 8 shares held,  or to which they are committed to acquire. To acquire the 8 shares the producer pays $1 cash (which may be deducted from a producer direct livestock payment) for the first of the 8 shares, with the the remaining 7 shares being acquired out of future pool bonus payments .

Bonus Shares

The Board may, from time-to-time, issue bonus shares to members on such terms and conditions as are considered appropriate. Bonus shares do not entitle members to participation units.

Pool Bonus Payments

To qualify for participation in pool bonus payments members must hold 1 participation unit for each lamb delivered. Participation units are  issued on the bases of holding, or acquiring, 8 shares for 1 participation unit. Additional shares (and hence participation units) cannot be purchased to cover lambs already supplied, although producers do have 21 days from the date of each delivery to subscribe for additional shares, if required, to acquire sufficient participation units to cover those particular lambs.

Pool bonus payments are only payable on lambs traded over the hooks at the weekly schedule price.  All other forms of purchase, including contract, on farm  and saleyard purchases, involve transferring additional risk to the co-operative and are excluded.

Share Redemption

The Board may consider redeeming a member’s shareholding either when they have exited the farming industry or if the member has been inactive for a period of 3 years.

All share redemptions are at the discretion of the Board and redemption value depends on the class of share held.

Further Details can be made to WAMMCO directly, or any Board Member.