Glanbia

whelan1

For the first time in over 2 years we held our local FMP meeting. Winter milk price increase not going to cover increased costs. Elected new chairman, has good potential. Meeting told Glanbia de-merger is no longer on the table – body language would suggest its been taken apart and “rebuilt”

You wont recognise it when it comes back for our approval, but the contents will be the same as the last time. Why should we buy something we already own? Lets get a couple of decent farmers with good commercial ability onto the Glanbia board. As Joe Gill of Bloxhams wrote in the Farmers Journal recently, “We are better placed than Kerry and IAWS was 10 years ago.” Glanbia is the envy of European farmers with its home and away businesses. Some of my fellow farmers are suggesting buying Glanbia PLC shares as they expect in years to come they will be as good as IAWS and Kerry on the stock market. Trouble is we don’t have any money


Any suggestions

5live

Kerry isnt nirvana either. They are proposing a share conversion next year (after 2 meetings to vote) to bring the co-op shareholding down under 20%. Its of no benefit to farmers only dry shareholders but will probably get passed as the ammount of close to retirement farmers will probably pass it. A conversion of 20% was discussed with the co-op board but when the district meetings were held the conversion was at 25%. Go figure:(. Will the next vote pass whelan1 and is the deal better for farmers this time around?

fraucan

i agree with you whelan 1, but i doubt very much if that will come again although it was most disapointing for senior management to lose which they are still finding hard to accept, but it would have happened if not for the few educated guys who opposed it all the way, but no doubt something is cooking if we are to go by what was in last weeks journal, because i believe that was put out there as a feeler for te future, keep up the pressure everyone for a non return