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 ↓
Rules 7 and 8 requires an active member to:
A ll members have entitlements to:
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.
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
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.
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.
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 firstname.lastname@example.org or write to:
PO Box 4059
VICTORIA PARK WA 6100
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.