Silver Fern Farms board remains unanimous in its view that the partnership with Chinese company Shanghai Maling is in the best interests of shareholders and the co-operative.
A group of 80 shareholders, led by farm owners John Shrimpton and Blair Gallagher, has lodged to re-approve the deal by way of a special resolution.
Silver Fern Farms has now set a date of 12 August for that special meeting in Dunedin.
Silver Fern Farms chairman Rob Hewett (right) and chief executive Dean Hamilton. Photo: Radio NZ / Ian Telfer
Chief executive Dean Hamilton said the company was obliged to call the meeting because the farmers controlled just over the 5 percent threshold required under the Companies Act.
Up-to-date material has also been sent to shareholders to consider ahead of the vote.
The shareholders approved the partnership with a vote of 82 percent in favour in October last year.
"If anything, the imperatives and potential benefits for Silver Fern Farms from this transaction have increased since then," Mr Hamilton said.
"Shanghai Maling's $261m investment for a 50 percent stake in Silver Fern Farms' business is clearly in the best interests of the co-operative."