Kerry Co Op Shares

ftm2023

Ya so basically what would happen is

A haircut on the shares from 6.14 to 5.6

You would then be able to take out your shares under CGT at a ratio of 5.6 - crucially it would be a once off optional event

The shares confiscated from shareholders with the “haircut” would be used to fund the JV

A big loan would have to be taken out and the JV would be paid for out of the milk

Personally as someone that bailed out in time before the share price crashed I’d be thinking shareholders should take this opportunity if the ratio is 5.6 or higher and go and invest their money elsewhere. S&P 500 would be as good a long term investment as any

older by the day

https://www.boards.ie/discussion/comment/122262035#Comment_122262035

I'm always impressed by the lads on here, saying " you were a fool not to buy and then your a fool not to sell". I never had money for investing, "thankfully". Always building or fixing or doing up land. So tell me, if you have money today the 15/6/24, what will you buy/invest in.

cute geoge

Every type of asset seems dear but surely property with a return of 4~5% is still atractive .At the end of the day shares are only a bit of paper as plenty have found out.

Sacrolyte

https://www.boards.ie/discussion/comment/122261813#Comment_122261813

just because a guy milks more cows doesn’t mean he would be a better representative at co op board level. Don’t insult the intelligence of voters either. Just because a guy might be a small farmer or doesn’t look after his ship at home doesn’t mean he’s not capable at board level.

ftm2023

https://www.boards.ie/discussion/comment/122264107#Comment_122264107

So because someone can’t run their own tiny little business that you could probably get a 12 year old to run doesn’t mean that they shouldn’t be left in charge of literally billions of euros of other people’s money? Hahaha good one pal, thank god my money is tangled up in that nonsense anymore anyway

K.G.

When did we all become such worthless cowards.i ve been thinking away about this thread and the milk price thread and how have we become so detached from ownership of our coops.you own your coop ,if it goes under its a reflection on you or me for that matter.when our local coop was set up men put up their farms as collateral for loans,in a neighbouring coop one man wrote personal checks for the first 3 months milk.they felt that it that important to get their milk processed and have control of it.compare that to the squabbling that's going on in Kerry at the moment and in the meantime milk production is being sold down the swanny to the point where I think the only way out will be to become wandering salesmen hawking their milk to however will take them.what set us apart from the beef industry was the coop model and it has been good to us but we seem to totally sight of the bigger picture.

cap.in.hand.

https://www.boards.ie/discussion/comment/122268811#Comment_122268811

Looks like Kerry coop wants to get more involved in the milk business and not having dry shareholders only milk suppliers/shareholders which is the right approach to take especially for Kerry coop given the recent turmoil .

Jizique

https://www.boards.ie/discussion/comment/122248886#Comment_122248886

What exactly is going on? The plc management is doing a crap job, as seen in the share price performance, massively underperforming peers over 3 and 5 years, and now the co-op shareholders are being asked to take a further reduction on the value of their holding?

I was amazed the CEO and CFO got their new bonus structure approved - shareholders should be furious rather than rewarding failure

cap.in.hand.

https://www.boards.ie/discussion/comment/122275075#Comment_122275075

The plc share and coop share have different management so aren't connected... I suppose Kerry plc shares were overvalued …not too sure will they hit the the same highs ever again

GNWoodd

https://www.boards.ie/discussion/comment/122275250#Comment_122275250

They have dropped from 125 euros to 75 in less than three years. And are still dropping..
What caused this ? Surely they were and still are an extremely successful company . Does anyone on here have any knowledge of what has happened ?

cap.in.hand.

https://www.boards.ie/discussion/comment/122275806#Comment_122275806

And they are buying back their own shares and it's making no difference to share price plus no acquisitions seem in the pipeline...€75 looks excellent.

cute geoge

https://www.boards.ie/discussion/comment/122275907#Comment_122275907

Kerry spent 20 million in the last 5 days buying it own shares while paying the lowest milk price and telling their milk suppliers they should work better at reducing costs . Imo it is a complete farce management running the company into the ground

@ftm2023

I hope this isn't a repeat of what we have seen over the years where single agenda posters join to shout from their soapboxes about their problem with Kerry and in the process post in a really arrogant and rude way against any other poster who dare counter their view. Sorry to say @ftm2023 but you look like one of these posters.

https://www.boards.ie/discussion/2057596027/major-problem-kerry-group-old-shares

https://www.boards.ie/discussion/2057734960/kerry-co-op-shares

The mod in the above thread summarized it very clearly

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).

ftm2023

https://www.boards.ie/discussion/comment/122312826#Comment_122312826

Hi @flyer_query … so I didn’t ask anyone to start this thread. I don’t even look at boards from one end of the week to the next. I’ll have you know I sold all my shares before they crashed. And don’t you worry. I couldn’t care less if you all eat one another so I won’t be trying to influence anyone’s opinion

As a matter of fact I’ve injected extremely little opinion into this thread. Just shared mostly facts that everyone would most likely be interested in. The smart guys got their money out of the co-op, invested it well and became so well off that they don’t need to worry above the price of milk. Guys that bought up millions worth of property.

The fact you’ve such a problem with me looks like you’ve a chip on your shoulder. Jealous of people who made it big out of the shares. I think people should vote for the JV, I’m on the side of the kerry co-op board with this so I’ve absolutely no idea what you’re talking about

cowman10

You’re Definitely the same lad! No question.

kerry cow

Ftm 2023

I too bailed out of the co op , thankfully ,

I agree 100% on your view of the poor selection of our co op board and it’s a reflection of the total mess we now find ourselves in , the wrong people have been elected for a long time , why , because the successful progressive farmers are not necessarily liked in kerry and they all know that and don’t bother putting themselves forward for election , that is the sad reality ,

These are the men and women who have driven on their business , and have foresight , I could name 10 big farmers names that should be in that board , and they are all in north kerry and I bet there are 20 more in limerick , and others in clare or west kerry , and none are on the board , ftm knows what I am saying ,

As for the jv , if the east limerick guys move or some of the bigger milk supplier , then the jv boat can’t float ,

why should a 100 cow man in kerry be paid 1500 less than a man in another coop for month of may as reported in media recently , they both get up and milk their cows , and we know that kerry plc is in profit ,

It’s time guys realise that the plc is a business and farmers need to wise up and fight for payment closer to the top of the league , and if kerry can’t deliver , then others will ,

Time of change is coming and like selling my co op shares , maybe it’s time to be smart and jump ship ,

cap.in.hand.

https://www.boards.ie/discussion/comment/122316359#Comment_122316359

Your kinda contradicting yourself in your post about all the successful progressive farmers in north Kerry/west kerry/Limerick/clare who are Kerry coop shareholders and Kerry plc suppliers all this time.…it obviously was no hindrance to them who was on the Kerry coop board all this time .

ftm2023

https://www.boards.ie/discussion/comment/122316359#Comment_122316359

Best post I’ve ever seen on here KerryCow. Absolutely excellent. Read it out at the breakfast table this morning and we all agree here 100% with what you said.

Me or you would have a better chance of being voted in as the next president of America than we would have of being ever voted onto the co-op board. If either of us put our names forward we could probably count what votes we would get on both our hands.

<MOD SNIP>

I've removed content to stay within the poster's own metric of: fact, very little opinion.

Previous threads on this subject have contained too much rancour.

Posters who posted in them will not be surprised to learn that this thread will be closely monitored.

The way I personally feel about the producer group is that those farmers that want to leave Kerry would be better off just going to another co-op altogether when their contract with kerry expires. Personally I would not like the way how with the producer group you would not have security of tenure. Kerry’s milk price is a disaster, they should have offloaded the dairy business 10 years ago, whole thing is a massive mess and I doubt anyone else would ever want to buy it.

greysides

Mod: A 'whether' advisory has been put into the first post of thread. Please note.

older by the day

https://www.boards.ie/discussion/comment/122317019#Comment_122317019

I know I shouldn't.

But if you can only get a handful of votes, at a coop election, aint that saying that people don't like ye. I know if I ran here, I would get the two seats. But meetings are too boring.

Ye are moaning about a couple of cent a litre after getting a lottery win, a few years ago. 200000. 500000, figures thrown around. There are farmers in other coops that have milked cows 50 years and could not save anything like that.

<Modsnip>

jaymla627

https://www.boards.ie/discussion/comment/122313028#Comment_122313028

Did you inherit the kerry shares you sold, where they converted co-op shares our did you buy and resale?

ftm2023

Mod: Post quoted deleted content and commented on moderation action.

Standard response is to delete posts quoting deleted material.

Publicly commenting on moderation actions is infractible.

This post is to make posters aware of the rules.

kerry cow

I think we need to stop trashing over past mistakes , we are where we are now , there is 12 months maximum that we need to know our solid footing and in reality we should be in a position of knowing where we are going with our contracts at the earliest date in 2025 .
we have a lot to process between here and now , information is very scarce on the ground , and too much speculation ,

Kerry plc are open to a sale , but would need signed contracts , to have a pool to sell ,

The co op have ambition to buy but don’t the the finance and would need the complete pool ,

The co op are of the belief they represent all milk suppliers , but in reality they don’t , as there is a cohort that don’t want kerry co op but want the producer group instead ,

This splits the milk pool , The reality is that the east limerick milk makes up a large proportion of the producer groups milk , it is highly probable that this will flow to another entity , we all know there was always a underline strain with some of these suppliers , The co op /plc shares , steadied that ship , but that now has sailed ,

We need to focus on milk price going forward , share price is a separate issue and share ownership is spread across suppliers and mostly m non milk suppliers at this point ,

It’s milk price that will support the future of kerry , clare and limerick milk suppliers young and old .

It is sad to see us lag behind our hard working colleagues , who are paid more per litre than we , even though we supply the same milk , and probably in a more challenging county ,

A fair price is what we need ,

I think we probably should sign up to the producer group , it’s a small investment of 100 euros that may provide us options , unless we create some type of alternative , then really we are just lining ourselves up to be pop shot at ,

Kerry plc quite clearly doesn’t give a dam about us ,

We are just fodder to their machine . There job is to buy low , sell high .
The producer group will only be as strong as the amount of milk in its pool to offer out ,

I haven’t signed yet , but I probably will contribute in near future ,

Why , to give me options ,

cap.in.hand.

https://www.boards.ie/discussion/comment/122361579#Comment_122361579

What's more puzzling is area advisory members and coop board are all currently all milk suppliers to Kerry plc would support the ambition of Kerry coop to buy into Kerry plc when they should be doing the complete opposite with the Kerry plc milk suppliers complaining about their milk price.

ftm2023

After yesterdays Kerry Co-op AGM I hear Paddy Power are going offering odds of 250/1 for the JV vote to go through 🤣🤣

In all seriousness though I wasn’t at it but I got a pile of feedback since. I was told the board had an even bigger catastrophe than they did at the 2018 AGM.

It was in the annual report that the chairman was on €69,000 last year, the vice chairman was on €44,000 and the girl on the office was on something like €100,000.

I don’t have any shares anymore so they can do what they like with it but I think paying out those big wages got under people’s skin for starters.

It’s just the way it’s a non trading company and they don’t really do absolutely anything. Kerry Group do all the co-op’s administration work such as carrying out the share redemption scheme and dishing out the co-op dividends.

I was told the meeting was just a total onslaught and the chairman didn’t even attempt to debate what was being said to him. He’s suppose to be a very nice man and I’ve heard great things about him to be fair to the man but I hope he has the sense to see that himself and the rest of the board are flogging a dead horse.

Kerry Co-op has absolutely no reason to continue to exist. The chairman made a comment from the top table that if the co-op was liquidated that there would be capital gains tax to pay. Well I sold my co-op shares and I had to pay capital gains tax. And let me tell you all here and now, it was the single greatest thing I ever did in my entire life without a shadow of doubt. Since I sold my shares I never again looked back. When I sold them on the grey market I only got the equivalent of 4.9 PLC shares per Co Op shares based on what the share price was then.

If Kerry Co-op was to be liquidated now the shareholders would get 6.14 PLC shares per co-op shares and all the cash in the bank too which would be a massive bonus as well.

PS. 1 of the guys that was sitting at the top table yesterday (definitely not the chairman) was going around after telling people “you see, there was only 450 people here today and everyone of them were against the JV but if we had a bigger meeting and had a 1,000 people there it could be a different story”. I’m not easily embarrassed or anything but my god, that was some statement for an educated man to come out with.

cap.in.hand.

https://www.boards.ie/discussion/comment/122427772#Comment_122427772

Couldn't go to the AGM yesterday so good to have a bit of feedback... eye watering expenses by some board members for sure....I don't know about flogging a dead horse but they're definitely whipping the backside of the horse like the uk Olympian horse dressage competitor who then pulled out of the Olympics

ginger22

https://www.boards.ie/discussion/comment/122427772#Comment_122427772

With the sort of money the board are on for doing f''k all you can be shure they will try to keep the gravy train rolling for as long as they can. They will do all they can to get this joint venture up and running, gives them a reason to exist.

Mywifetoldme

The total compensation for directors and directors that retired in 2023 amounted to €593,628, which is up from €509,050 in the previous year.

cute geoge

The pay is some joke for doing **** all. If there was any accountability they also should have vetoed the bonuses to Kerry PLC management and mid management which was eye watering last year .Guys managing agri stores/driving forklift grossing over 60k .How is that sustainable.There will be winners in the Jv but you can guess who that will be!

kerry_man15

https://www.boards.ie/discussion/comment/122262001#Comment_122262001

How is a haircut like that a fair exchange? Reduction from 5.9 to 5.3 shares. That's about 55 euro given up for every share you own or 5.5k for every 100. Why should people give up thousands of euro to a venture they will have no part of? The coop don't pass on the full dividend every year so have amassed a huge fortune from us already over the years. They will be keeping that, it should be enough.