It would take someone with deeper pockets than you or me to take that court challenge and in the end the decision could go either way. Then there is the fact that when you became a CoOp member you signed up to the terms and conditions. It is beyond my pay grade to figure out a solution.
Everything us open to a court challenge. The latest cooperative law was pit in place in 2022 it has never been in a court case yet.
The problem for Kerry Co-op is it a Co-operative in the meaning gnof the law. It produces or sells nothing. It even has failed to enforce a leadng milk price. Even onnits own website it states the redemption value of the old co-op shares
It has put a pro ess in pla e for tge redemption of shares. Therefore the idea that it could decide to use the shares of B&C shareholders to buy the milk processing and agri part of Kerry group to fund tge buy out would definitely be challenged in court. What way the courts decide is open to interpretation.
Therefore Denis Brosnan statement tgat dairy farmers need to find a way outside that to purchase the agri entity is correct. The case would be wrapped up in court for 5+ years. He is correct in stating that the make up of the board is open to a court challenge as a court interpretation could decide there is no active members or it could decide that all share holders are technically the same none being technically active suppliers or purchasers of any product to or from the Co-op
There are many entities out there whereby it was taught the body involved is covered by legislation all is challengable in law, whether its An Bord Pleanala, the Medical Council, the Law Society or a department of Agriculture ruling.
In a court case both side could lose as the court could decide that KCO is not a Co-operative as the law defines one but a holding company
The problem for Kerry Co-Op taking back shares it recognises the value of shares as being a multiple of Kerry group shares at present. Therefore again any attempt to redeem shares at the original monetary value would be open to a court challenge.
Another issue for KCO is tgat in all likelyhood the co-op would have to fund both side of such a challenge especially at the initial judicial review state as a member would be challenging the interpretation of a board decision. As long as the challenge was not considered frivolous the Co-op would probably be picking up all legal costs.
Who said they would want to take back shares. I said that in the CoOp rules there is that provision. It is standard in all CoOp rules.
It doesn't need to be adjudicated on. That power is there. It was there before you became a shareholder.
I didn't say they would want to do it.
Was wondering why you even suggest reasons the coop would want to take back coop shares from shareholders as they are still valuable so any reason would want to be airtight.
What kind of a nonsense comment is that. The only reason shareholders can't trade with Kerry CoOp is because they don't have any active business any more.
Fcuk me some amount of rain falling again, scrapers broke and a surprise in the cubicles. Covered in muck but would be worse if scrapers were going. Pricking around pumping slurry from tank to tank instead of getting it out is getting tiresome with feckall time to do it
You can't trade with Kerry coop as a coop shareholder
AFAIK the CoOp can take back the shares from any shareholder at face value not trading with them or seen to be doing something detrimental to the CoOp, that would be a standard rule in all CoOp's. The thing is no shareholder is trading with Kerry CoOp, so what do they do. I dont ICOS have any answer either, they are keeping their head down.
The exchangeable bond of a quater of a billion due in 2027 is what worries me most, that and ongoing pension liabilities which are insane, the self-praise the current management give themselves when in reality their just funding the business through selling plc shares and financing them like the above is dumbfonding....
Avg wage of 100000 per 1 million litres a farmer produces
On paper possibly but financially probably not ….he’ll of a lot to f people around feel we should of went to them instead of down west when we merged with Midwest
Do u think it makes sense
Not in the best of financial shape …rumours circulating of Arrabawn interest
Are tipp Co op looking for buyers atm?
I don't see it being discussed in the boardrooms of west cork anyway.
Jasus if Heineken did coop takeovers......... I detect that your not a believer in this scenario playing out 😁
Are glanbia coop not completely skint with the layers of employees in backroom/management/pen pushing departments
perfect scenerio is kerry coop buy it back at a reasonable price or nothing at all happens, the longer the coop wait the cheaper it will be, if plc share price is to continue to rise....and it has to keep rising or management get moved on...the producers group was a great move
kerry plc did miss a step when glanbia sold dairy back first as they had there ear to ground in europe and new nitrates and enviro regs were coming, glanbia sale set precedent with dry and active shareholders funding it together as dry shareholders had no choice but got a nice bundle of coop owned plc shares for themselves...
they have a guaranteed cashflow coming from dairy, thats how the plc was built....they moan about wanting them out but while they have their margin the staus quo is ok as easily take the profit from dairy and invest in high margin business, throw a note in accounts saying how dairy margin is down and all is ok.....ceo bonus generally linked to share price....they will do anything to move that needle
Don't see it happening and may not even require any purchase for milk supply to start diverting but milk pool is all that would be wanted by other coops is what I'm saying. Uncertainty in what we'll be allowed do as farmers is the as big a risk for coops as ourselves
So the perfect scenario is a white Knight give the plc its big money,spends big money on plants and pays top price for milk and all the while the cute kerry boys hold on to the kerry shares and even get boost of the sale of the milk division.
There would always be a few. Alamycin spray or some use the aluminum spray post debudding. Fr horns would develop faster than beef breeds from what I've seen so perhaps more blood flow to the area.
That was part of my poorly made point, facilities may not be what interest other coops but the milk pool to keep newly invested in plants running, may not be kerry plants.
Anyone else here find that friesian calves will bleed for very little after disbudding? No matter when I disbud them one or 2 bleed. Continentals never do.
Well you’d imagine Kerry will slap a price on it as they did before that no outsider will pay but will be in ‘negotiations’ to try force the hands of co op in a bid to get co op to take it off their hands.
Ya one of these gives a good clean
every hardware store has one.
Or go bigger
Well the thing is everything has a value, so it all depends on the price someone is willing to pay and how desperate Kerry Group are to get out.
Can’t see any co ops buying Kerry’s milk arm, huge investment would be needed to even maintain current production. Listowel is supposed to be falling apart by all accounts that would need big investment alone to keep going. Even if an outside buyer was found which I highly doubt would happen farmers would be worse off then they are now they’d end up carrying the cost of the new buyers margin after acquisition and investment as the farmer always seems to do.
Tbh only reason for any coop to buy it would be shoring up supply given the way things are going. Get plants running efficiently and close down / sell anything surplus but price would want to be right. Processing is lowest margin part of the business hence why kerrys/ glanbias want to offload it once turned into a plc. Plc gives initial boost to farmers in a the start but once outside shareholders come into play its game over for farmer suppliers
The CoOp should get you to negotiate a deal. You would put Scanlon in his box.
Anyway he is so desperate to get rid of it anything is possible.
present coop structures open to court challenge.....cant be done, people need to brush up on coop law
coops designed to protect us from outside manipulation and management teams ...coops are governed by rules of coop....ICOS is only recognised body for disputes of any discription....irish court system is irrelevant in coop they have no power or jurisdiction unless ICOS transfers to court for guidence due to lack of competency by members on board on an issue...reverts back to icos to finalise any decision
only active members have the say and thats how it should be if we want to have coops for our grandchildren, coops shouldn't have dry shareholders, dry shareholders had plenty of chances to sell coop shares....holding onto coop shares that cant be traded publicly and where you have no voting rights as your not active is a very risky stance to take......they high risk investors whos investment can go up or down and they have no say.....processing should be bought by coop if a reasonable price 200-350m can be achieved.....tirlan have 180m sitting waiting for investment, if they'll drop to that:)
how much are the property values? thats for a clean field site....your either buying the business based on property values or business as is....business as is to outside buyers cant gaurentee they will have supply to pay for business so property values less cost to clear site is fair price....
