Otter Co-op’s 2024 Virtual Annual Meeting
May 17, 2024

We invite you to join us for our 2024 Virtual Annual Meeting on Wednesday, June 26th 2024 at 6:30PM. Webcast (through Zoom) opens at 6:15PM.

Our 2024 Virtual Annual Meeting will consist of the following:
• Presentation and Discussion of our 2023 Financial Reports
• The Ratification and Announcement of our 2024 Board of Director Election Results
• A Vote on a Special Resolution related to our Partnership with FCL, listed below
• The Appointment of our 2024 Auditors

Registration is required to participate, and is open from June 3rd to 21st at www.bit.ly/OtterAGM

Our Special Resolution at the 2024 Virtual Annual Meeting is to add the following to Otter Co-op’s Rules.

Directors Powers – Support of Federated Co-operatives Limited
6.14
Not withstanding the powers of the board of directors to direct the business and affairs of the Co-operative, the Co-operative shall meet or exceed the Co-operative Retailing System loyalty program requirements by sourcing the majority of the goods and commodities intended for resale that Federated Co-operatives Limited (FCL) supplies or makes available from an approved source, from and through FCL, unless as a result of an uncured material breach by FCL, without an ordinary resolution of the members.”

What this means:

Otter Co-op, a valued member of the Co-operative Retailing System, procures a significant portion of our inventory from Federated Co-operatives Limited, our trusted supplier/wholesaler. Annually, these procurements yield loyalty and patronage payments exceeding $17 million. This longstanding partnership, spanning over 80 years, underscores our commitment to the Co-operative Retailing System. The resolution's essence is to safeguard Otter Co-op's business model and its consequential financial stability. It stipulates that any deviation from this model requires prior consent from the membership, ensuring the continuity of our cooperative principles.

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