kerry co-op shares

networks

i see in the farmers journal that these shares could be worth a lot more than they are being traded in private deals for 40-50 euro,potential value is 160 euro,local papers full of ads looking to buy old co-op shares,so keep ur old shares!!

djmc

How could they be worth 160 if you can only sell them for 50
Nobody would buy them at 160 so how could they be worth it of has it something to do with the transfer to plc shares.

kfk

djmc wrote: »

How could they be worth 160 if you can only sell them for 50
Nobody would buy them at 160 so how could they be worth it of has it something to do with the transfer to plc shares.

Kerry group exchanged each co-op share with about 7 plc shares in 2007. If they were to do the same now then each co-op share would have a value of approx €160.

Chiarrai_abu

Lads I dont see any tributes paid to the great Kerry Co Op man Michael Hanrahan from Ballybunion.
Michael was Chairman in Kerry Co Op and Chairman when the Group became a PLC back in 1986.
He was a great friend of Denis Brosnan by all accounts.
He was very pro Kerry Co Operative becoming a PLC.
We indeed owe him all we have.

Ar dheis de go raibh a anam.

fepper

Great combination that he and Denis brosnan had such a vision for the future, RIP.

lalababa

Fools and their shares are easily parted;). There have been regular share transfers from co-op to PLC over the years , the last ones for 5, 6and 7 PLC's for 1 co-op. PLC's are traded in the market for around 70euros. So 70*7=490euro.

fepper

If all the coop shares were converted to plc shares tomorrow the spin out would be bout 3 plc to 1 coop share valuing each coop share around €220 today

lalababa

50 to 160 to 490 back to 220, lets add them up and divide:D

BannerBarry

A lads those calculations are away off the mark.

Kerry Co Operative own 24.05 million Kerry Group shares or 13.7% of the Group.
These shares are worth Euro 1.73 billion at todays Kerry Group share price.

There are 3.9m Co op shares in Kerry Co Op hence each share is theoretically worth €443 each.
These shares trade at around €200 per share on the grey market.

If the Directors in Kerry listened to what their shareholders are telling them at shareholder meetings and in marts, etc then the shares should trade at 443 and not 200. They are discounted in half due to uncertainty on the direction of the Co Op.

The Directors last converted 20% of the Co-Op shares to PLC shares back in 2013. At this time they gave us 6.1 or so Group for each 1 Co Op Share.

The "Operating Expenses", or costs for operating the Co Op (Mainly pay for 24 Board of Directors) come to euro 700,000 for the year 2014.

With milk prices the way they currently are the Directors need to be reminded again of their obligation to act in the best interests of the Shareholders with regard the €1.7 billion of our shareholder money they have restricted us from getting our hands on.
With around 13,000 shareholders this equates to a shareholding value of €135K per shareholders.

With a Bank overdraft maxed out and a rejected bank loan application from one of our "Pillar banks" I need access to my Co Op shares full value immediately.

Any Kerry Co Operative Directors viewing this post, please respond to our needs, we shareholders again ask you to act in our interests and release at least some of the value of our shares.

BannerBarry

A lads those calculations are away off the mark.

Kerry Co Operative own 24.05 million Kerry Group shares or 13.7% of the Group.
These shares are worth Euro 1.73 billion at todays Kerry Group share price.

There are 3.9m Co op shares in Kerry Co Op hence each share is theoretically worth €443 each.
These shares trade at around €200 per share on the grey market.

If the Directors in Kerry listened to what their shareholders are telling them at shareholder meetings and in marts, etc then the shares should trade at 443 and not 200. They are discounted in half due to uncertainty on the direction of the Co Op.

The Directors last converted 20% of the Co-Op shares to PLC shares back in 2013. At this time they gave us 6.1 or so Group for each 1 Co Op Share.

The "Operating Expenses", or costs for operating the Co Op (Mainly pay for 24 Board of Directors) come to euro 700,000 for the year 2014.

With milk prices the way they currently are the Directors need to be reminded again of their obligation to act in the best interests of the Shareholders with regard the €1.7 billion of our shareholder money they have restricted us from getting our hands on.
With around 13,000 shareholders this equates to a shareholding value of €135K per shareholders.

With a Bank overdraft maxed out and a rejected bank loan application from one of our "Pillar banks" I need access to my Co Op shares full value immediately.

Any Kerry Co Operative Directors viewing this post, please respond to our needs, we shareholders again ask you to act in our interests and release at least some of the value of our shares.

fepper

Fair dues to you banner for all that information on the coop shares,well done

BannerBarry

Check John O'Callaghan's presentation back in April 15.

http://www.ifa.ie/wp-content/uploads/2015/02/Kerry-Group-John-OCallaghan.pdf

Its not much good having this value when it is currently not accessable!

BannerBarry

Check John O'Callaghan's presentation back in April 15.

http://www.ifa.ie/wp-content/uploads/2015/02/Kerry-Group-John-OCallaghan.pdf

Its not much good having this value when it is currently not accessable!

fepper

And if we do get our share payout eventually the f**kin revenue will whip out another 33% of it when we sell them

djmc

The 33% is outrageous highway robbery.
If you bought shares in a bank that the government agreed to capitalize but then did a u turn then is tough luck to you but not the bond holders or ecb they will be protected and the money taken from everyone else.

A cow called Daisy

Slightly off topic but..
Had 250 Bailieboro Co-op shares which through a series of takeovers became 25 Kerry shares. I received a small dividend of about €3 twice a year on them. As I understand, there are two types - one more valuable than the other. My questions are
Which ones do I have? I can't find share certificate which, I presume, would tell me.
Who do I contact to get replacement share certificate.

fepper

There are the plc shares which are €70 each at the moment,Kerry coop shares are the valuable ones at the moment.shares dept Tralee (066)7182000 I think that's the number

BannerBarry

Agreed on the 33%, its crazy.... Now is the time to see which political parties have policies for lower CGT in their manifesto as we decide who to vote for.... Am more interested in a Vote down in the Brandon Hotel on Kerry Co Op Converting more of our shares!

kerryjack

fepper wrote: »

If all the coop shares were converted to plc shares tomorrow the spin out would be bout 3 plc to 1 coop share valuing each coop share around €220 today

Fepper you chould change your name to fibber where did you pull that from

fepper

Its being going down all the years how many plc shares we get per coop share as equity dropped for the coop,so how many plc shares do you think we will get for our coop share so as you seem to be a kerryjack of all trades on this subject and I'd be thrilled if I got more shares than i thought I would!!

kerryjack

fepper wrote: »

Its being going down all the years how many plc shares we get per coop share as equity dropped for the coop,so how many plc shares do you think we will get for our coop share so as you seem to be a kerryjack of all trades on this subject and I'd be thrilled if I got more shares than i thought I would!!

They are plenty of lads out there trying to buy these co op shares that would love that kind of talk that the shares are only worth 2 or 3 group shares and are buying them off of vournable people that might be stuck for a few bob I think the co op should do a deal with any small share holder and let them sell out if they wish

fepper

I wouldn't like to see any coop shareholders being duped by these vultures either and to make it worse its being done a lot of times by other farmer shareholders

BannerBarry

I see the Farmers Journal this week says Kerry Co Operative will pull in €12 million this year from Dividends from Kerry Group.
Kerry Group upped their dividend to €0.50 per share.
Kerry Co Op Shareholders should get about €2.90 per share after the highly paid Kerry Co-Op Directors take off their €700,000 "Operating Expenses".

kerryjack

290 would be nice but highly on likely might have a chance of getting 250 out of them

fepper

There are as bad as the IFA re the remuneration they are getting,must be an agricultural trait!!

BannerBarry

Yea, its big money being spent by the shareholders on the Administration of a holding company of Kerry Group PLC and One51 shares.
Not much managing on those assets is there.... And they require around 28 Directors for this I believe.

If all the expenses are for salaries, or should I say Directors fees, that equates to up to €25,000 each per annum.
How many meetings per year do they have I wonder?
They won't get that milking cows!
Surely they are not yet at IFA levels!!

On the paying out of the full Dividend, ie €2.90 left over after other costs, I do not understand why it would be only €2.50 dividend this year?
Is the spare money going to sit in AIB doing noting if they do not pay the full amount?

kerryjack

We all know that there is a cosy cartel going on between the the 2 society s for years but we should not be complaining as the share price have been doing very well its a case of dont rock the boat or it might efect the share price its my opinion that the share price would do even better if we could wind up the co op but the supliers might suffer than because they would at the mercey of greedy share holders and lets face it all share holder's are greedy we always wants more

BannerBarry

Concerning if there is a cosy cartel with any society dealing with the IFA.

If they did convert more shares this would help the share price as the Kerry Group freefloat of the ISEQ would require institutional investors to hold more Kerry Group shares as more are then deemed free of insider holdings.
After each share exchange the shares have gone up.

I think they will hit €80 today. More reason to convert. Unlock the average shareholding of €150,000 that is tied in by these Directors in us!

kerryjack

One 51 are about to float on stock market. As kerry co op own 4.7% of one 51 will kerry co op dish out some of these shares to there members. Like the councillor said whats in it for me.

Chiarrai_abu

The One 51 money the co op would get would only be enough to pay for the "strategic review" costs the co op directors will charge us for their "hard work" in the last year. O'Callaghan was right with his comment in Killarney on the Co Op directors being "highly paid" for their services...Not that he's an angel.
Give the One 51 money to pay the 1.4 cent due to all milk suppliers.
Do a share exchange then to keep all the B & C shareholders happy also.

BannerBarry

At Kerry Groups closing share price this evening of €83.18 our 24 million Kerry Group shares held by our Kerry Co Operative Investment holding company are worth a huge €2.0 billion today. What an incredible milestone.

Dear Kerry Co-Operative directors.
Please do a share exchange for us in the next few weeks.
This is long overdue and we have bills to pay.

fepper

Banner,were you at any of the Kerry coop info meetings lately and was anything said about this??,I wasn't able to go to them

BannerBarry

I was not at the meeting but would like to get to the AGM with other concerned shareholders to jointly voice our concerns.
I am not sure the current Directors have any appetite to do a share exchange.

Chiarrai_abu

Interesting article in the Independent today on the huge pay of the Ornua farmer directors.

http://www.independent.ie/business/irish/pressure-grows-on-ornua-and-coops-as-pay-kept-secret-34649645.html

How much do our Kerry CoOp directors get paid each versus the Ornua directors each per year does anyone know?

Are Kerry CoOp going to be as transparent on showing us how the two football teams of them thats there doing nothing for us get paid?

cute geoge

As far as i know kerry co op directors are on 25k
kerry plc directors would be up on 70k

BannerBarry

Based on what we know about Kerry Co Op and Ornua Boards.ie is the wrong "Boards" to be on :-)

Ornua Co op directors shared 509K between 14 of them or 36k on average.

There are 28 Kerry Co Operative Directors and this on trading company has 0.7m in Operating expenses.

At 700k the Kerry Co Op Directors are getting €25,000 in expenses per annum.... makes more sense to get on the these Boards than milk cows!

fepper

BannerBarry wrote: »

Based on what we know about Kerry Co Op and Ornua Boards.ie is the wrong "Boards" to be on :-)

Ornua Co op directors shared 509K between 14 of them or 36k on average.

There are 28 Kerry Co Operative Directors and this on trading company has 0.7m in Operating expenses.

At 700k the Kerry Co Op Directors are getting €25,000 in expenses per annum.... makes more sense to get on the these Boards than milk cows!

Can't see them letting their Kerry coop directorships go down the swanny if all the coop shares were converted to plc shares and all of them would probably get their P45s

Chiarrai_abu

We have 28 well paid directors and none of them can read a contract. They are going the legal route now and going to cost hundreds of thousands I suppose. Its crazy we cannot come to an agreement with Stan McCarthy and avoid all this needless waste of solicitor money. We are all the one after all. We need the directors but not 28 of them. We also need them to agree with our main investment, the Group.
We are hurting our own pockets on the double this time. Crazy stuff. Bring back the directors of old from the co-op I think.

BannerBarry

Kerry Co-op have 28 Directors and 258 Advisory Committee members to advise on running an Investment Holding company for 2 different shares.
I mean its hilarious Google (Alphabet), the largest company in the world, have 12 Board members to run a company with $100 billion Turnover.

Kerry Co Op do not trade and get a €10m dividend from Kerry Group.

Kerry Co-Op have more Advisory members than the whole army of countries Iceland (210) or Monaco (116).
Talk about robbing our pockets.

fepper

It's a great little coop to support that amount of advisors!!

Chiarrai_abu

When we don't do our job right farming we might loose a few cows. When the Kerry Coop directors do their job wrong they bring in the solicitors who rob us further.
The current carry on with the squad of them directors and advisors thats there should stop.
The solicitors costs should come off the directors pay for the year as if they need solicitors the co op directors aren't doing their job right in the first place.

We are powerless anyway, they hold the whip and we will moan on here and do nothing as we cant do anything about these serious issues the way the co op is structured.

cute geoge

As shareholders can we not declare a motion of no confidence in the board of directors at the next agm?
As it stands it is all sown up by the current board of directors and there is only one way to put manners on them . As far as i know ,it was an ordinery farmer who initated court proceedings against p.l.c. about the leading milk price only for the co op directors to jump on board

Chiarrai_abu

Well I agree with some of what you are saying George. We still need a board. I thought the process was we had to feed this information up through the advisory committee who trash it before sending it to the board to ignore. It's not possible I think to do the vote of no confidence directly.
Would they be enough farmers behind the vote anyway I wonder? We all give out but nobody does anything which is terrible of us all.

ciotog8

Any updates on any conversion this year

Chiarrai_abu

In case yee didn't hear on Radio Kerry today Stan McCarthy has dropped out of being CEO of Kerry co op. Based on the bad blood at the Shareholder meetings in March I am not surprised.

fepper

Will share price drop as well as him,cant see any milk price rises just because he stepped down,could be volatile in Kerry coop for a while

Chiarrai_abu

It's hard to know now what will happen. Any shareholders meeting or AGM I have been at he has been the only one that has done the talking. The other 28 will now have to up their game. It's better he's out when discussing the milk price but it's worrying the rest are now minding our Kerry co op shares.

kerry cow

I think any frustration farmers have regarding milk price should be directed towards our co op board . They are the people who are meant to represent us farmers , they were the people who recommended us farmers to sign our milk contracts ,
the problem I have is that if you ask any kerry supplier to name the co op board , not all can name them , can you , is that good enough ?
If you ring our chairman he is probably driving a tractor or tending his stock right now !
If you want farm inputs or want discuss you scc or tbc problem who will you be sitting down to talk it over with but a kerry agri bussiness rep (plc owned ) . Where is our co op?
Should our chairman not be a highly paid full time representative with a full time secretary who negotiates our purchases from any supplier inside or out side county kerry , therefore if you want feed or fert or a wheelbarrow regardless of you herd size or purchasing power, the price should be the best price in the country delivered to you as part of a group of 3500 suppliers , not you individually,
why can we not be paid by our co op and not the plc , let the co op sell the milk on our behalf ,let all purchases come off our cheques , dont think that the plc supplies all these services for nothing ,
I am not political , so maybe the word co op needs to be replaced by some other name , I dont know , but I do know we are leaderless as a group of kerry milk supplier ,
why do glanbia and kerry plc invest so much money in the green field site , all discussion groups etc ,
The ifa , our co ops , should fund it alone , we need to cop on .

kerry cow

I think any frustration farmers have regarding milk price should be directed towards our co op board . They are the people who are meant to represent us farmers , they were the people who recommended us farmers to sign our milk contracts ,
the problem I have is that if you ask any kerry supplier to name the co op board , not all can name them , can you , is that good enough ?
If you ring our chairman he is probably driving a tractor or tending his stock right now !
If you want farm inputs or want discuss you scc or tbc problem who will you be sitting down to talk it over with but a kerry agri bussiness rep (plc owned ) . Where is our co op?
Should our chairman not be a highly paid full time representative with a full time secretary who negotiates our purchases from any supplier inside or out side county kerry , therefore if you want feed or fert or a wheelbarrow regardless of you herd size or purchasing power, the price should be the best price in the country delivered to you as part of a group of 3500 suppliers , not you individually,
why can we not be paid by our co op and not the plc , let the co op sell the milk on our behalf ,let all purchases come off our cheques , dont think that the plc supplies all these services for nothing ,
I am not political , so maybe the word co op needs to be replaced by some other name , I dont know , but I do know we are leaderless as a group of kerry milk supplier ,
why do glanbia and kerry plc invest so much money in the green field site , all discussion groups etc ,
The ifa , our co ops , should fund it alone , we need to cop on .

Chiarrai_abu

kerry cow wrote: »

I think any frustration farmers have regarding milk price should be directed towards our co op board . They are the people who are meant to represent us farmers , they were the people who recommended us farmers to sign our milk contracts ,
the problem I have is that if you ask any kerry supplier to name the co op board , not all can name them , can you , is that good enough ?
If you ring our chairman he is probably driving a tractor or tending his stock right now !
If you want farm inputs or want discuss you scc or tbc problem who will you be sitting down to talk it over with but a kerry agri bussiness rep (plc owned ) . Where is our co op?
Should our chairman not be a highly paid full time representative with a full time secretary who negotiates our purchases from any supplier inside or out side county kerry , therefore if you want feed or fert or a wheelbarrow regardless of you herd size or purchasing power, the price should be the best price in the country delivered to you as part of a group of 3500 suppliers , not you individually,
why can we not be paid by our co op and not the plc , let the co op sell the milk on our behalf ,let all purchases come off our cheques , dont think that the plc supplies all these services for nothing ,
I am not political , so maybe the word co op needs to be replaced by some other name , I dont know , but I do know we are leaderless as a group of kerry milk supplier ,
why do glanbia and kerry plc invest so much money in the green field site , all discussion groups etc ,
The ifa , our co ops , should fund it alone , we need to cop on .

We need a farmer board of some sorts though.
We do not need the 28 Directors I would think.
The Agribusiness is there for individual issues. Really the Co Op is now a share holding company ran by farmers.
I don't really know what the Co Op directors do now. (Except not read the MSA).
Who would dare challenge them to change their ways though?

Kerry2016

In the Kerry Co Op board 4 of the directors are conspiring to grab 25% of the existing shareholders shares. They are hatching up a plan to take the vote back off the "B" and "C" shareholders in the Co Op in order to execute their plan. They want to give the shares out to the new start up dairy farmers with 200+ cows in order to help them produce cheap milk and put the rest of us out of business for once and for all. It is vitally important to show up to the next Kerry Co Op AGM and to get all of our Co Op shares converted into PLC shares before the board grabs them from us.