Another co-op seeing the light and moving to tap capital...

Another co-op seeing the light and moving to tap capital markets....only a matter of time before NAM follows suit and a big rerate at that time imo....

"An overwhelming majority of Murray Goulburn Co-operative (MG) members have voted in favour of a capital restructure that will establish a unit trust to be launched on the Australian Stock Exchange (ASX).
Chairman Philip Tracy announced that a “very impressive” 50 per cent of eligible voters coted and of them, 92pc voted in favour of the capital restructure, which the board had suggested.
He said the vote was a milestone decision for the co-operative.
He said the capital structure the board recommended was a vital step towards ensuring MG had the strong foundation and stable capital base it needs to pursue the next generation of growth opportunities and deliver a sustainable increase in the farmgate milk price for suppliers.
Managing director Gary Helou re-iterated that the capital restructure would allow the company to raise $550-$635 million........