Kerry Co Op Shares

For those of you who may be interested - it is now being said that there will be a vote in September about Kerry Co Op’s JV with Kerry Group

Long story short the Co Op want to come down to 5.3 PLC shares per Co Op share. Back in 1996 the ratio was 11 PLC shares per Co Op share

At 5.3 PLC shares the Co Op shareholders will only be getting €400 per Co Op share at today’s share price.

Needless to say all the smart money has gotten out of the Co Op already. I mean like, the smart guys sold up and went into property in a very big way. Their property is worth 50% more and the Co Op shares are worth 1/3 less.

A good businessman is always in the right place at the right time

Hi Cute George. No problem with a democratic vote. They can all eat one another as far as I’m concerned. I sold all my shares.

I bought them. They were there for anyone to buy. It was a license to print money. Anyone with any common sense bought them.

There was nothing like a lotto win about it. It was a good investment. I didn’t pull names of companies out of a hat and decided which ones I was going to buy shares in. To say it’s like a lotto win is disrespectful to the people who were able to invest their money properly. The people who got the “patronage shares” from the co-op for their nominal value, now it was “like a lotto win” for them because they were handed the shares for effectively nothing

I remember I was down in Dingle good few years ago, and 70 acres of bog had made nearly a million. Local lad said it was share money driving de land prices. How much did the average supplier get? Say a 100 cow fella

A 100 cow man would of gotten over a quater of million plus worth of shares alone through the share partonage scheme at todays value, if milking throughout this period

Avergae kerry supplier is sitting on a 170k of shares though, present day and in that youll have men with up on a million that can be cashed in at their choosing, its gas though the other co-op in the country that has a sizeable net worth through its members shares in a plc wont allow its members to convert their co-op shares under any circumstances to plc unless they want approval for their latest take-over/aquistition with a few breadcrumbs in a spinout and their isnt a tenth of the outcry over it, when their should be….

The infighting and divison between kerry suppliers/co-op heads/ and the plc will probably result in the whole operation been run into the ground and the likes of dairygold/tirlin taking over the milk-pool

My father supplied kerry for years and got patronage shares and whatever others.

I never got any shares. So at this stage It’s the previous generation that benefitted from kerry shares and most of them have been passed on to other family members through inheritance.

It seems lost on them though strangley enough, they have a victim complex of been hard done by, when they our their fathers/mother etc have benefitted hugely down through the years from the plc/co-op

That screenshot you posted is fake news. The patronage share scheme didn’t start in 2007. That started in 2000, it was at a rate of 2 Co-op shares per 1,000 gallons of milk produced. Then when we bailed GV out and brought them in under our wing it was changed to 1 Co-op share per 1,000 gallons of milk.

Kerry Co Op has 13,000 shareholders and is only worth €1.5 billion. Meaning the average shareholder would only have €112,000 worth of shares. Lots of the milk supplier shareholders nowadays would have absolutely no shares so there’s no way that the average milk supplier would have €170,000 worth.

As regards the big boys only having up to €1m worth of shares? 😂😂 not a chance buddy. You’re way off. That’s more like the haircut they’d get on their shareholding if the JV went ahead 🤣

It would be a full CGT spin out, some people are saying it would be 5.6 though and that would hopefully be more like it. Don’t think people would or should vote for 5.3. Also I’ve been told it would be optional but IMHO you’d have to be bananas to leave your shares in the co-op, best bet is take them out and pay the CGT. For anyone who would stay put the co-op would try carry on the cash for shares scheme apparently but that wouldn’t work with participation exemption tax laws etc

Ginger22 would you consider joining it? I think in my honest to God opinion that they’re going to get an embarrassingly small amount of support

His father before him probably got a few shares. Makes up for it all I hear....

I'll go to one of the meetings but it seems like a big risk to leave the devil you know....

It’s probably going to be an equally bad deal for all involved. Ideally the co-op should be liquidated. Shares shouldn’t be taken off anyone and used to buy milk processing. However just look at the people that get elected to the co-op board over the last 10 years or so. This could have ended an awful lot worse for all involved.

If you were a good farmer or good businessman you’d absolutely no chance of being elected on to the board and a very poor chance of even being elected on to the advisory committee. A guy milking a couple dozen cows beat a fella 3:1 at advisory level a few years near here and that just exemplifies the goings on of these election. The guy that lost would arguably be one of the best farmers in Ireland and as for the other fella the less said the better.

People took it upon themselves to elect these people to look after billions of euros of everyone money and as for the JV now it’s a case of you reap what you sow. The whole co-op should have been spun out after the 1996 spin out, once Kerry Co-Op’s shareholding in the PLC dropped below 50% in 1996 it had absolutely zero reason to continue to exist.

I know they by the way represented us on milk price but I don’t think anyone is buying that line anymore. I’d do a better job myself of representing milk suppliers than the whole board put together

Why would dry co op shareholders ever vote to contribute to processing facilities they will never vote in favour of that, why in a spin out would they give up shares so others can benefit from it?