KERRY CO OP SHARES

Kerry2016

Kerry Co Op currently have €2 billion worth of their shareholders shares locked away

The Co Op are "minding" these shares for myself and the other farmers

It is Kerry Group that buys the milk off the farmers. Kerry Co Op simply is a shareholder in Kerry Group, the Co Op has a 13.7% stake in Kerry Group

Kerry Co Op is actually an investment company. It's only income is the dividend it gets off the farmers shares that they have locked away

Kerry Co Op can convert their Co Op shares in Kerry Group PLC shares. Each Co Op share is worth 6.12 PLC shares when it is converted. This means that each Co Op share is worth 6.12 x €75 = €462... however the Co Op shares can only be traded on the grey market and are currently worth only €200 each

There is 13,000 shareholders in Kerry Co Op, only farmers are allowed attend the AGM's which is a bit ridiculous for a multi billion euro investment company

Kerry Co Op has been without a CEO for a year now, they nearly had a CEO hired 4 months ago but he picked a job working on the radio instead

If any of ye were at any of the recent shareholder meetings in Killarney, Listowel or Limerick ye will have heard our chairman talking about how he thinks the young farmers need to be looked after by Kerry Co Op. Kerry Co Op at this stage has nothing to do with farming, it's just a shareholder in the flavouring and ingredients company called Kerry Group, Kerry Co Op and its shareholders owe no more to young farmers than it does to young chimney sweepers!

In the past year the revenue have sent out €48m worth of tax bills to farmers over mistakes which were made by the Co Op. The Co Op have so far spent €500,000 fighting to stop all this, from what I gather they would have been better off sending that money out to a worthwhile charity, because we are still none the wiser about whether or not we are right or wrong with what is going on with the revenue commissioner. All the while there is massive interest and penalties racking up on the €48mn of unpaid tax, in my opinion anyone who hasn't paid it yet should do so while they can still afford to do so

Hopefully I have made everything clear to people reading this. In a nutshell just to recap, Kerry Co Op is an investment company which is deliberately allowing it's shareholders shares to be traded at less than half their proper value. The Co Op's modus operandi is to get a good milk price for farmers. Well at last years Kerry Co Op AGM the management of the Co Op openly admitted in a room full of hundreds of people that they have no say in milk price what so ever. And on top of that this was once again said by the Co Op at recent shareholder meetings. And anyway only 3,000 of the 13,000 shareholders are dairy farmers so how is it fair for Kerry Co Op to try justify its existence for the sake of pretending to get good milk prices.

Now that I have educated ye all about what Kerry Co Op is I would like for ye to take part in my poll. Thank you all very much for yer time.

Kerry2016

No, the farmers shouldn't be allowed have their own money

It is also worth noting that our investment company Kerry Co Op has only ever made 1 investment in the last 31 years that it's been an investment company

This one investment was when they bought shares using the farmers money in a company called One51

Kerry Co Op paid €5 for each share in One51

A year and a half later One51 shares were only worth 15 cent each… this goes to show how much we can trust the Co Op with the €2 billion worth of farmers shares that they currently hold in trust

J.pilkington

Yes, the Co Op should have converted these shares 10 years ago at least

What a silly poll, at least give some fair choices or else it's just soap boxing like the other 50 polls you posted in f&f

Kerry2016

No, the farmers shouldn't be allowed have their own money

J.pilkington wrote: »

What a silly poll, at least give some fair choices or else it's just soap boxing like the other 50 polls you posted in f&f

I think "yes" and "no" were fairly straight forward choices

I supply over 250,000 gallons of milk to Kerry Group. I think the management of Kerry Group are doing a fantastic job and I'm delighted with them. I am sick and tired of Kerry Co Op pretending to represent the likes of me.

Can you explain to me how Kerry Co Op are of any use to its shareholders? Give me one explanation as to how they're of any use to any of the 13,000 shareholders

The only people that benefit from the existence of Kerry Co Op are its 28 board members

Were you present at last years AGM when the chairman of the Co Op acknowledged that the Co Op has no say over milk price?

Like the chairman said it in front of hundreds of people in plain and simple English that he can't influence milk price at all, what more do you want?

The Co Op clearly can't give out any more patron shares seeing as how that ended last time so go on, give me one example how the Co Op are suppose to help any of its 13,000 shareholders?

At one of the three recent shareholders meetings the chairman of the Co Op personally told me and 2 people that were with me that the PLC shares that the Co Op is holding in its trust are belonging to the Co Op's shareholders, he doesn't dispute that

All that I am in dispute with him over is that I want my shares to be given to me as soon as this tax problem is sorted out

It's 31 years since the first conversion, the original shareholders (those of us who built the company up from a caravan in Listowel) have waited long enough for their shares to be converted

J.pilkington

Yes, the Co Op should have converted these shares 10 years ago at least

The wording of your poll choices with your biased hidden agenda make the poll worthless

How is the above anything new to what you have posted 500 times in f&f until you got banned. What is the plan, spam this forum relentlessly then once banned move onto another one?

Kerry2016

No, the farmers shouldn't be allowed have their own money

J.pilkington wrote: »

The wording of your poll choices with your biased hidden agenda make the poll worthless

How is the above anything new to what you have posted 500 times in f&f until you got banned. What is the plan, spam this forum relentlessly then once banned move onto another one?

Go on, give me just 1 example how Kerry Co Op's existence is of benefit to as much as 1 of its 13,000 shareholders? Oh lol, well obviously besides the 28 of the lads from up and down the road that are running it

BannerBarry

No, the farmers shouldn't be allowed have their own money

J.pilkington wrote: »

The wording of your poll choices with your biased hidden agenda make the poll worthless

How is the above anything new to what you have posted 500 times in f&f until you got banned. What is the plan, spam this forum relentlessly then once banned move onto another one?

I think a debate on the future of Kerry Co op would be a well worth while exercise if the polls doesn't suffice.
I'll gladly do the debate provided the Co op do not remove the 32% or more C shareholders from attending like they do at AGMs.

Let's logically debate the pros and cons of maintaining the Kerry Co op.
I have yet to hear a logical argument for maintaining it.
The main argument in favour of Kerry Co op I heard today may have cost our A milk suppliers millions of euro in tax helping the Revenue pick holes in a key argument.

fepper

J.pilkington wrote: »

The wording of your poll choices with your biased hidden agenda make the poll worthless

How is the above anything new to what you have posted 500 times in f&f until you got banned. What is the plan, spam this forum relentlessly then once banned move onto another one?

In fairness your right as its a localized issue as such but I think he basing in on the morals of the situation and putting it out there

Kerry2016

No, the farmers shouldn't be allowed have their own money

There's been a tidal wave of the usual nonsensical fanatical support for the Co Op today lads but as ye have already mentioned not 1 person has been able to give us 1 reason how Kerry Co Op is of benefit to anyone besides the boys running it

Even the lads running it have some few shares of their own, the mind baffles how they aren't also bulling for a full conversion

The next tax scandal that's about to unfold (the board are doing their best to keep it under wraps) is really going to show everyone how unsafe it is to have the 28 members of the Kerry Co Op board in charge of €2,000 million of other people's money

Nody

Mod:
Get a blog; this is a discussion forum and your posts for all intent and purpose read like blog posts. You don't want debate; you want people be join you in righteous outrage and seeing how you've already picked up multiple bans on this topic and I'm simply going to nip this one in the bud. Post on the topic in this category again and you'll face a category ban; this is your only warning and goes for anyone else who wish to try to blog on boards about the subject as well and I wish you the best in your fight (seriously I do but this is not the forum for it).