Kerry Co-Op Share Exchange

kfk

Just for anyone that may be interested. Kerry Group are going to be exchanging 20% of the Co-Op shares next month. This exchange will be worth €270m to the Co-Op shareholders.

oakwork

Any idea what the ratio of cancelled co-op shares to group shares will be?

tomo75

When is it due to take place?

kfk

oakwork wrote: »

Any idea what the ratio of cancelled co-op shares to group shares will be?

Dont know. Probably similar to the last transfer which was 6.66 to 1 as far as I know. They will be cancelling 20% of the co-op shares.

kfk

tomo75 wrote: »

When is it due to take place?

June or July

kerryjack

Great news i am all for exchanging the lot and winding up the Co Op as quick as possible I don't see it offering any function in the future although they are to up there dividend this year to 1.50 and pay a special payment of 1 euro per Co op Share next month, all is very welcome at the moment.

tommylimerick

I agree 100 percent
kerryjack

PMU

kfk wrote: »

Dont know. Probably similar to the last transfer which was 6.66 to 1 as far as I know. They will be cancelling 20% of the co-op shares.

6.12 plc shares for every co-op share exchanged

kfk

PMU wrote: »

6.12 plc shares for every co-op share exchanged

Is that for the exchange coming up or was it for the last exchange?

PMU

this one, according to the journal. the last one was 6.66 to 1

fepper

kerry have finished giving out the patronage coop shares last year so i think as well that its time that all these shares should be converted to plc shares,the sooner the better and the plc share dividend would compensate for the interest on the coop shares

PMU

patronage shares have been issued for this past quota year as well.a nice bonus for us former suppliers

kerryjack

any update on this share exchange and when is it hapening

kfk

kerryjack wrote: »

any update on this share exchange and when is it hapening

Got a Kerry Co-Op newsletter in the post last week saying that shareholders would be receiving their new certs early this month so probably next week Im guessing.

fepper

i saw in the farmers comic few weeks ago that kerry coop will be issuing the new plc shares on july 21st

kfk

fepper wrote: »

i saw in the farmers comic few weeks ago that kerry coop will be issuing the new plc shares on july 21st

Got my new share cert in the post this morning

ciotog8

Got mine yesterday. 6.1 exchange

fepper

cert came today,them shares and good weather make life worth living!!

ciotog8

does anyone think that all co op shares will be exchanged in the next year or two?

fepper

hope they are asap but if all the old shares in kerry coop were converted to kerry plc shares who would own kerry coop then as it would not have any shareholders,maybe it would offer its current shareholders new shares in kerry coop only before any plc exchange