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MAJOR PROBLEM Kerry Group Old Shares

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    #722
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    I wonder Barry if Kerry coop would be under the remit of the director of corporate enforcement agency and that shareholders are not treated equally as a complaint


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    #723
    BannerBarry
    Banned (with Prison Access) Posts: 452 ✭✭BannerBarry


    fepper wrote: »
    I wonder Barry if Kerry coop would be under the remit of the director of coperate enforcement agency and that shareholders are not treated equally as a complaint

    That is very likely alright. I hadn't thought of them. Citizen's Information website is really good and simplified to layman's language so it's worth seeing our rights from sites like this.


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    #724
    Upthekingdom2
    Registered Users Posts: 13 ✭Upthekingdom2


    With Kerry Group share price over €70 again I'm in the Convert ASAP team also


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    #725
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    Upthekingdom2 wrote: »
    With Kerry Group share price over €70 again I'm in the Convert ASAP team also
    Its great to see them increase their value and to hopefully keep it growing!!


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    #726
    BannerBarry
    Banned (with Prison Access) Posts: 452 ✭✭BannerBarry


    fepper wrote: »
    Its great to see them increase their value and to hopefully keep it growing!!

    Once their results next Tuesday are growing also as is expected then we will be very happy.
    Great to see them back on the rise albeit due to the takeover offer for Unilever...still shows that the large companies see values of 25 times earnings in food companies....


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    #727
    Yurt123
    Banned (with Prison Access) Posts: 56 ✭✭Yurt123


    With the way things are going you'd wonder are they ever going to convert any more of our shares at all ever?

    I heard Mundy Hayes won't even answer his phone anymore because he can't take the pressure of being chairman, he's not educated enough for the post and he's not cut out for the pressure of it, he's ****ing useless

    The co op board couldn't possibly get any more out of touch than they already are, farmers are going broke and we've all this money being held ransom by the co op board

    Heard a story lately about a Kerry farmer getting his machinery reposed, don't know how the co op board can sleep at night


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    #728
    kerry cow
    Registered Users Posts: 1,303 ✭✭✭kerry cow


    Agree there are lots of farmers out there in trouble , shares sold would take the pressure off .I hear banks are pushing some guys to sell old shares to clear debt .its terrible that they are been screwed like that , and maybe soon they could have doubled their money .


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    #729
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    BannerBarry wrote: »
    Once their results next Tuesday are growing also as is expected then we will be very happy.
    Great to see them back on the rise albeit due to the takeover offer for Unilever...still shows that the large companies see values of 25 times earnings in food companies....

    Are you basing that on heinz/kraft offer to Unilever Barry as Unilever would be more a semi industrial type of company and heinz/kraft could incorporate and mix it in in their type of operation


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    #730
    BannerBarry
    Banned (with Prison Access) Posts: 452 ✭✭BannerBarry


    fepp20m in the bank the Directors could pay a dividend worth over 1,500r wrote: »
    Are you basing that on heinz/kraft offer to Unilever Barry as Unilever would be more a semi industrial type of company and heinz/kraft could incorporate and mix it in in their type of operation

    Exactly. Kraft offered around 25 times profits for Unilever (Who are loosely in the food sector).
    If Kerry Group traded of 25 times profit the share price would be about 80.

    With €20m in the co op bank the Directors could pay €1,500 per shareholder out today to help us out... especially at this time of the year.


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    #731
    kerry cow
    Registered Users Posts: 1,303 ✭✭✭kerry cow


    Just to explain to a dumb witt. If say kerry were bought out by another player what would happen to say you plc or co op shares . Would you be forced to sell or would you end up with new shares in company z.


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    #732
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    The company would offer shareholders say €100 per share and if passed I'd say you'd have option of cash or mother company share options if you want


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    #733
    Yurt123
    Banned (with Prison Access) Posts: 56 ✭✭Yurt123


    Has there ever been any mumblings before about Kerry possibly getting taken over?


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    #734
    Upthekingdom2
    Registered Users Posts: 13 ✭Upthekingdom2


    Kerry Group share price have always traded at a premium to competitors due to takeover speculation , that has never happened, and superior growth rates year over year since inception.

    Kerry Group are a stellar share and one has to expect such past performance will be an indication for future and continued growth.


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    #735
    BannerBarry
    Banned (with Prison Access) Posts: 452 ✭✭BannerBarry


    Upthekingdom2 wrote: »
    Kerry Group share price have always traded at a premium to competitors due to takeover speculation , that has never happened, and superior growth rates year over year since inception.

    Kerry Group are a stellar share and one has to expect such past performance will be an indication for future and continued growth.

    We hope this assumption holds up come next Tuesdays results and 2017 outlook.... currency devaluation has to impact their outlook in the high margin high growth Asia region.
    US business which is a high portion of total sales should be great with the strong dollar..


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    #736
    kerry cow
    Registered Users Posts: 1,303 ✭✭✭kerry cow


    Yes its a given that they will be bought out in due course .


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    #737
    Yurt123
    Banned (with Prison Access) Posts: 56 ✭✭Yurt123


    From a legal standpoint is there much we can do as shareholders over the way the co op is being miss ran…?

    Shouldn't the directors be liable for anyone who's forced to sell the co op shares for €180 instead of the €432 that they're really worth


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    #738
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    As a owner of coop shares,the coop board will facilitate you to approve your sale which is a legal requirement but its up to you to secure the best price for your share,the conversion price of the share is not at issue here but should be potentially factored in if selling to help you get a decent price,lots of farmer shareholders sold their coop shares for €50-€80 years ago, I'm sure many are sorry since


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    #739
    BannerBarry
    Banned (with Prison Access) Posts: 452 ✭✭BannerBarry


    Yurt123 wrote: »
    From a legal standpoint is there much we can do as shareholders over the way the co op is being miss ran…?

    Shouldn't the directors be liable for anyone who's forced to sell the co op shares for €180 instead of the €432 that they're really worth

    It's a great point. They have the power to stop shares going through at the board meetings so they have the power.
    They don't set a trade price for the shares like other unquoted companies do.
    They don't have a website of the latest price like say One51 would have etc.

    They have the power to drive the Co op share price up from €180 to nearer the €430 by even giving a guidance on future conversions.
    They are not telling all shareholders what's going on and what the future is.

    It's like as if they are comfortable with having an asset trade at a say 60% of the assets true value.
    To be fair with some tax issues going on there may be a preference to have a low market value.


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    #740
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    BannerBarry wrote: »
    It's a great point. They have the power to stop shares going through at the board meetings so they have the power.
    They don't set a trade price for the shares like other unquoted companies do.
    They don't have a website of the latest price like say One51 would have etc.

    They have the power to drive the Co op share price up from €180 to nearer the €430 by even giving a guidance on future conversions.
    They are not telling all shareholders what's going on and what the future is.

    It's like as if they are comfortable with having an asset trade at a say 60% of the assets true value.
    To be fair with some tax issues going on there may be a preference to have a low market value.
    Barry I don't know could the board really stop you from selling your shares from a legalpoint of view,maybe in your private sale you could get €430 per share yourself from buyers but I do agree that the board will have to eventually have to fully release the real value of the coop shares to its shareholders and get rid of Kerry coop as a investment company


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    #741
    Yurt123
    Banned (with Prison Access) Posts: 56 ✭✭Yurt123


    Is there anyone that we can complain the Co Op board to with the disastrous way they're running it?

    The new CEO Lesley wants to start buying hotels now with our money


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    #742
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    That what's AGM is for where gullible farmer /shareholders feel the coop board is their saviour on milk issues and these same farmers/shareholders will be delighted with hotels with member discounts thrown in as well for their trip away on some ifa milk protest in the future and from a practical point of view its where future Kerry coop AGMs can be held instead of paying the Brandon hotel,looks like there are a good few coop AGMs for the future


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    #743
    BannerBarry
    Banned (with Prison Access) Posts: 452 ✭✭BannerBarry


    fepper wrote: »
    That what's AGM is for where gullible farmer /shareholders feel the coop board is their saviour on milk issues and these same farmers/shareholders will be delighted with hotels with member discounts thrown in as well for their trip away on some ifa milk protest in the future and from a practical point of view its where future Kerry coop AGMs can be held instead of paying the Brandon hotel,looks like there are a good few coop AGMs for the future

    The Co op board can stop any transfer going through. From a sellers perspective surely the law protects the right to sell. The board can stop newbie shareholders purchasing shares alright and have the right to do it.

    It's concerning if the new CEO wants to purchase hotels.... would they be in Holland for the trips to Amsterdam me wonders :-)

    The shareholders feel they can't voice their concerns. 40% of shareholders are not allowed attend the AGM. They don't get copies of the accounts (and see the €1m cost of running a dormant investment holding company) and are last to hear the happenings of goings on in Company....
    So much for one man one vote and co op ethos etc.

    The remaining shareholders think voicing their concerns will hurt their milk price or that voicing their concerns means the Co op board would redeem their shares, without giving a reason why, at €1.25 per share value.

    The Kerry co op needs an overhaul.. New rules, new blood, all treated equally...... or just convert 100% of shares and close this Holding Company down NOW


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    #744
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    At the last AGM of Kerry coop investment ltd ,it was a plc executive that was telling the plc strategy for future investment and profit predictions going forward,now I can go the plc AGM to hear the same thing,its plc that making all the profit here not the coop,so coop piggybacking by having a AGM to have plc tell us again,thats about it really,wind it up now and pay our tax due and let the plc take over manage our shares only without the Kerry coop expenses tag hanging off them


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    #745
    BannerBarry
    Banned (with Prison Access) Posts: 452 ✭✭BannerBarry


    fepper wrote: »
    At the last AGM of Kerry coop investment ltd ,it was a plc executive that was telling the plc strategy for future investment and profit predictions going forward,now I can go the plc AGM to hear the same thing,its plc that making all the profit here not the coop,so coop piggybacking by having a AGM to have plc tell us again,thats about it really,wind it up now and pay our tax due and let the plc take over manage our shares only without the Kerry coop expenses tag hanging off them

    I'm with you on that. It's an unjustifiable and rediculous waste of shareholders money having Kerry Co op investments Ltd ran by 28 popular Dairy farmers, who are paid €3,000 per board meeting to advise on the investment holdings of the company.. talk about milking it.

    Not one of the 28 could tell you how much their investment, Kerry Group PLC, had as turnover last year or what earnings are forecast for 2016.

    Enough is enough. We have to stand up to this abuse of power and daylight robbery this year.


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    #746
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    I'm sure all they talk on that €3000 per person per meeting is how's the calvings going,grass growth, and a few complaining farmer/shareholders that are thorns on their fat backsides and hope they are hit by lightning ⚡ and cant wait to tuck into the juicy steak after the great craic they had at the party(sorry meeting!!)


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    #747
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    I suppose Barry if Kerry coop investments were very good and the dividends we were getting per coop share were in addition to the plc dividends paid in full which the coop wouldn't have to earn anyway then I suppose it would be somewhat tolerable but as its now its the the plc board I'd pay them as a incentive bonus not these leeches


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    #748
    Yurt123
    Banned (with Prison Access) Posts: 56 ✭✭Yurt123


    Is anyone on this entire website that has Kerry co op shares against having them converted into PLC's?

    It's literally a case that everyone wants them converted except the co op board members

    <SNIP>


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    #749
    Upthekingdom2
    Registered Users Posts: 13 ✭Upthekingdom2


    Yurt123 wrote: »
    Is anyone on this entire website that has Kerry co op shares against having them converted into PLC's?

    It's literally a case that everyone wants them converted except the co op board members

    <SNIP>

    Nobody I know is against the exchange of all co operative shares to PLC shares.
    The current situation is an injustice by the co op management that would punishable by death in many non western countries.


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    #750
    Yurt123
    Banned (with Prison Access) Posts: 56 ✭✭Yurt123


    27 of the co op board members are on €12,000 a year, after tax that's only approx. €6,000

    The chairman is on €28,000, after tax that's only about €14,000

    <SNIP>


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    #751
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    Upthekingdom2 wrote: »
    Nobody I know is against the exchange of all co operative shares to PLC shares.
    The current situation is an injustice by the co op management that would punishable by death in many non western countries.

    At recent AGM,they certainly let the pro conversion side down with only a small proportion of a show of hands in favour and the ones that did put up their hand in favour looks like traitors in that room


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