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MAJOR PROBLEM Kerry Group Old Shares

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13567…38

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    #62
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    Welcome back again Kerry2016,thought you had been gagged and silenced since!!


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    #63
    BannerBarry
    Banned (with Prison Access) Posts: 452 ✭✭BannerBarry


    fepper wrote: »
    Welcome back again Kerry2016,thought you had been gagged and silenced since!!

    Kerry2016. .....We thought you had been bought out:-) we thought they converted your Kerry co-op shares only to silence you. Good to see you back.


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    #64
    cute geoge
    Registered Users Posts: 2,946 ✭✭✭cute geoge


    Kerry2016 wrote: »
    There's contracts in place meaning they have to buy our milk off us. Also if all the co op shares were converted then more of the co op's board of directors would be put onto the PLC's board of directors. Don't talk about things that you clearly don't know anything about.

    If all the co op shares are converted there will no co op directors on the plc board of directors .If you want to contradict this ................proof?
    The contract in place clearly states that kerry will also pay a leading milk price and we all know the result of that


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    #65
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    If your a shareholder in the plc you can put yourself forward for election to the board


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    #66
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    And as the other lads were saying Kerry coop have nothing to do with milk purchasing ,those directors on the plc board are representing the shareholders of Kerry coop ltd ,just happens to include milk suppliers to the plc as well


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    #67
    cute geoge
    Registered Users Posts: 2,946 ✭✭✭cute geoge


    fepper wrote: »
    And as the other lads were saying Kerry coop have nothing to do with milk purchasing ,those directors on the plc board are representing the shareholders of Kerry coop ltd ,just happens to include milk suppliers to the plc as well

    What do you make of this if you think kerry co op have nothing to do with milk purchasing
    5.1
    ;The price payable be kerry for raw milk in any year shall be the leading milkj price on a like for like basis.The price shall be reviewed on a ongoing basis at board meetings of kerry co op and such price fixed by kerry after consultation with kerry co op shall be binding on the parties hereto.

    This is part of farmers contract with kerry group


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    #68
    kerry cow
    Registered Users Posts: 1,302 ✭✭✭kerry cow


    A lot of people here making statements and not sure of the facts , stop blowing smoke out your arse . Problem is you believe what your saying and misinterpreting fact.
    1 Co op is giving no one new allocation of shares
    2 Co op directors don't auto qualify for plc seat
    3 . It's the Co op share holders , dry and supplying , that put the plc there , including new purchased Co op share holders as they paid someone money for their share and new entrants take a walk you paid nothing
    4 yes the directors of Co op like their off farm job and pay . Also the farmer directors on the plc the same
    5 don't think for a second if you think that these farmer plc directors have one iota of input to the milk price . Love the off farm job and big pay packet .
    Nodding dogs they are

    Milk supplier move on and form a new representative group .your milk is wanted as cheap as possible and you can get you inputs at what ever your small business can achieve it for . Your on your lonesome .


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    #69
    BannerBarry
    Banned (with Prison Access) Posts: 452 ✭✭BannerBarry


    cute geoge wrote: »
    What do you make of this if you think kerry co op have nothing to do with milk purchasing
    5.1
    ;The price payable be kerry for raw milk in any year shall be the leading milkj price on a like for like basis.The price shall be reviewed on a ongoing basis at board meetings of kerry co op and such price fixed by kerry after consultation with kerry co op shall be binding on the parties hereto.

    This is part of farmers contract with kerry group

    George. Kerry co-op is an investment holding company that happens to have 24m Kerry Group PLC shares along with One51 shares.
    Kerry co-op have no employees, no turnover, no trading activities.
    It's principle risks are called out on Note 9 of its accounts as "risk of loss of income due to a reduction in the value of its investments and a reduction in its dividend income". IT DOESN'T CALL OUT MILK PRICE FALLS AS ONE OF ITS RISKS....
    HOW IS THAT?

    Kerry co-op has 28 Non Executive Directors that are farmers and due to the historic background in milk 4 directors sit powerless on the Kerry Group Board.

    These Non Executive Directors (no legal power for some key decisions of our investment company) do discuss milk pricing on your behalf.
    They do not negotiate as they have no authority I believe to do so.
    I believe they get a few hundred thousand euro cumulatively for this discussion.
    As you see from the Arbitration these non executive directors have no legal input in a dispute with Kerry Group to negotiate on milk price on your behalf. 600 plus of the milk suppliers have granted authority to the Non Executive Directors to negotiate in the leading milk price dispute for you. Outside this separate one off power of attorney the CoOp do not have any significant input on your milk price I believe


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    #70
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    Good epitaph for Kerry coop headstone Kerrucow


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    #71
    cute geoge
    Registered Users Posts: 2,946 ✭✭✭cute geoge


    imo if ye are depending on all the co op shares to be converted ye might be in for a wait .Kerry plc seems to do what it likes wheather its paying leading milk price or converting old co op shares.To tell you the truth ,it is a bit of joke what kerry co op does at this stage but it all down to the bottom line of the plc .What purpose would it serve the plc a glut of extra shares that could be sold in the market to drop the price of plc shares


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    #72
    BannerBarry
    Banned (with Prison Access) Posts: 452 ✭✭BannerBarry


    cute geoge wrote: »
    imo if ye are depending on all the co op shares to be converted ye might be in for a wait .Kerry plc seems to do what it likes wheather its paying leading milk price or converting old co op shares.To tell you the truth ,it is a bit of joke what kerry co op does at this stage but it all down to the bottom line of the plc .What purpose would it serve the plc a glut of extra shares that could be sold in the market to drop the price of plc shares

    George. We all agree on the leading milk price... The prized bull you were promised was a teaser!
    Your IFA ICMSA Kerry co-op Non Executive Directors and your solicitor missed the definition of leading milk.
    Unfortunately for you guys in the current milk slump this miss is costing you guys dearly.

    Kerry Group are obliged to act in the interests of its shareholders. Shareholders want profits and an appreciating share price.

    Kerry co-op Directors are required to act in the interests of its members. 25% of its members happen to be milk suppliers. 75% are not.
    The members want increasing dividends and increasing share price and the 25% want the leading milk price.
    Unfortunately neither the A's or the B-s and C's appear happy the Directors are delivering what we want.

    Our shares are approved by the Directors at each board meeting to be sold to a Solicitor Accountant or investor at 50% of its true value.

    Kerry Group PLC'S Free Float increase if all the shares are converted.
    This increases the price of the Group shares.


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    #73
    cute geoge
    Registered Users Posts: 2,946 ✭✭✭cute geoge


    What is the plan for tuesday in the brandon .It will be surely hard to get a shout in about converting shares by the time all the uproar of the leading milk price will be trashed out.The price drop for may milk will act as red rag to an already raging bull ,who is going to be in the main line of fire now that stan has stepped aside


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    #74
    BannerBarry
    Banned (with Prison Access) Posts: 452 ✭✭BannerBarry


    cute geoge wrote: »
    What is the plan for tuesday in the brandon .It will be surely hard to get a shout in about converting shares by the time all the uproar of the leading milk price will be trashed out.The price drop for may milk will act as red rag to an already raging bull ,who is going to be in the main line of fire now that stan has stepped aside

    I'd say the Non Executive Board are on for a huge grilling on;

    1) Current Milk Price
    2) Leading Milk Price and how the definition was missed. Who is responsible. Why did no representative body spot it was not comparable.
    3) Share Conversion
    4) €1m Operating Expenses (what we're they operating? Why are the expense up €300k year on year.
    Salaries make up 400K.
    Where are the Non Executive Directors "expenses" shown and how much has been spent on the Strategic review that is never ending.
    Why were the Non Executive Directors expenses not called out in the notes to the Annual Report.

    5) Adressing the disfunctional structures in place today. Milk suppliers have no legal voice to represent them on milk and the feedback and concerns of the Dry shareholders are not being adressed on the depressed Co Op share price.

    Should be very hot tempered in the meeting....We should be charged going in to the meeting for this great evening of entertainment


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    #75
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    You should chair it there yourself banner,impressive list of motions to be debated there!!


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    #76
    BannerBarry
    Banned (with Prison Access) Posts: 452 ✭✭BannerBarry


    fepper wrote: »
    You should chair it there yourself banner,impressive list of motions to be debated there!!

    Thanks.... and you know what I would not charge a fee or milk the expenses either!
    What I missed saying was they normally go over their investment.. Kerry Group and it's performance year on year. I do not know if the Chairman or the Non Executive Directors are comfortable talking about this without Stan this year... And the Chairman and Vice Chairman may not be able to attend if their are cutting sileage :rolleyes:
    As the meeting is likely to go straight into Milk and conversion discussion ans not talk of the investments i guess the Board may pray for a fine day and call the contractor to make sure they are missing for the stick they are likely to get.


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    #77
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    Obviously conversion will take time but the shares issue would be serious now but al least we know that it could be in the pipeline and plan accordingly


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    #78
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    The advisory committees also have to know about this as well,I'm sure its being thrown out amongst them


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    #79
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    Could be shares for A shareholders only at B and C expense,that would be very attractive proposal as it covers all milk suppliers existing and new,they'd be murder for sure


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    #80
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    As a shareholder and supplier kerrycow you could get the extra shares as well to sweeten you up, we trust you wont be blackmailed if any kind of proposal like that is put forward??


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    #81
    BannerBarry
    Banned (with Prison Access) Posts: 452 ✭✭BannerBarry


    fepper wrote: »
    As a shareholder and supplier kerrycow you could get the extra shares as well to sweeten you up, we trust you wont be blackmailed if any kind of proposal like that is put forward??

    We have the law on our side this time.
    Be very clear, issuing new patronage shares from our investment company in favor of one class of shareholder is illegal now under the companies act 2014. Check it out.
    This will be fought tooth and nail in the courts if they dare try this fraud against us again.

    If there's are to be Patronage shares issued this would be under Kerry Group PLC this time not Kerry co-op.
    The A suppliers have no direct interaction with the Co Op.

    LET KERRY GROUP PLC ISSUE OUR MILK SUPPLIERS PATRONAGE SHARES AS OUR KERRY CO-OP INVESTMENT HOLDING COMPANY IS NO LONGER LEGALLY ABLE TO DO SO.


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    #82
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    Good answer there banner,any coop directors on here,TAKE NOTE!


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    #83
    BannerBarry
    Banned (with Prison Access) Posts: 452 ✭✭BannerBarry


    fepper wrote: »
    Good answer there banner,any coop directors on here,TAKE NOTE!

    It would be some legacy for these Directors if all this is true.. Their achievements rank as follows;

    Fcuked up a milk supply contract
    Sued their invested company Kerry Group
    Robbed 75%of shareholders (In numbers) of their assets in favor of one class of shareholder.
    Get sued by B's and C shareholders for not acting in their interests.
    Maintained the market value of the Kerry Co-op shares below 50% of their Book Value....

    Happy Fathers Day! :mad:


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    #84
    Kerry2016
    Closed Accounts Posts: 245 ✭✭Kerry2016


    ***** URGENT *****
    The Kerry Co Op board members are ringing people up today who are against a conversion telling them to go to the AGM to try and block a conversion.
    GET EVERYONE THAT YE POSSIBLY CAN TO GO BACK TO THE AGM AND GET OUR SHARES CONVERTED

    The Kerry Co Op board is crumbling and we need one final push tomorrow and call for a SGM and we'll get our €2 billion worth of shares converted.


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    #85
    Kerry2016
    Closed Accounts Posts: 245 ✭✭Kerry2016


    What did everyone think of the AGM today and what was being discussed at it?


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    #86
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    All the points that were raised here were aired there,think patronage a non runner


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    #87
    popa smurf
    Registered Users Posts: 379 ✭✭popa smurf


    Any word on a conversion


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    #88
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    No conversion


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    #89
    kerry cow
    Registered Users Posts: 1,302 ✭✭✭kerry cow


    Why , would you want (like)patronage shares fepper


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    #90
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    kerry cow wrote: »
    Why , would you want (like)patronage shares fepper

    No way but was mentioned at meeting so just giving my opinion on it


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    #91
    Jmos22
    Registered Users Posts: 7 ✭Jmos22


    So there is no chance of conversion at all ? not even from total outsiders who have no interest in farming and just have the shares due to inheritance?


This discussion has been closed.
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