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

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
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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