LIC Director to step-down by rotation

Private Bag 3016
Hamilton 3240
New Zealand

0800 651 156
www.lic.co.nz
LIC is the trading name of Livestock Improvement Corporation Limited

Market statement
11 April 2018

LIC Director to step-down by rotation
Livestock Improvement Corporation (NZX: LIC) (LIC) confirms Steve Poole has chosen not
to seek re-election and will step-down from the Board of Directors, effective 31 May 2018.

The LIC Board is made up of seven farmer-elected directors, and three independent
directors.

Mr Poole joined the LIC Board in 2010 and has served two terms as one of two farmer-
elected directors for the central (North Island) region. Both central region LIC Directors will
complete their current term on 31 May 2018, with replacements to be determined by
shareholder election. Voting packs will be distributed to shareholders on 20 April.

Board Chair, Murray King, said Steve brought real grassroots empathy to the board.

“Steve has always focused on what is in the best interests of New Zealand dairy farmers.

“He showed real commitment to the share simplification process and was able to conduct
complex discussions in a simple farmer friendly manner to his fellow shareholders.”

Steve Poole and his wife Maria are dairy farmers in Kapuni, Taranaki, milking 800 cows on
210 hectares. Prior to joining the LIC Board in June 2010, Steve had a long association with
LIC as a customer, shareholder, employee and shareholder representative. He was an AB
Technician for more than 20 years and a member of LIC’s Shareholder Council for two years
(2008-2010).

ENDS

For any shareholder enquiries please phone 0800 264 632

About LIC
LIC is a farmer-owned co-operative that provides a range of services and solutions to improve the productivity
and prosperity of farmers. This includes dairy genetics, information technology, herd testing, DNA parentage
verification and farm advisory services through FarmWise. Subsidiary business LIC Automation also provides
integrated automation systems and unique milk testing sensors that present real-time data while a cow is being
milked. With origins dating back to 1909, LIC has a long history of world-leading innovations for the dairy
industry.
Today the New Zealand-based co-operative employs more than 700 permanent staff, swelling to 2000 during
the peak dairy mating season. LIC also has offices in the United Kingdom, Ireland and Australia. All LIC profit
is returned to its farmer owners/shareholders in new solutions, dividends or re-invested for research and
development or dividends. www.lic.co.nz