Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

MAJOR PROBLEM Kerry Group Old Shares

Options
1…2829313334…38

Comments

  • Options
    #902
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    If it falls under company rules where all shareholders cant all attend and vote,could be sorted easily,are we really a coop now though without trading? We are now an investment holding company


  • Options
    #903
    BannerBarry
    Banned (with Prison Access) Posts: 452 ✭✭BannerBarry


    Good letter to the editor in the Journal section today on Kerry Co Op and that we do not want to buy the Agribusiness like Glanbia Co-Op, the value of the A suppliers shares would be 500K converted etc.

    Also the Dealer had the news that Leslie has not accepted the role of CEO of Kerry Co Op. This is fairly embarrassing for the Kerry Co Op board. The announced he was appointed and then he turns them down. That's pretty damming potentially for the Co op.... who turns down the role for CEO.
    It opens the question up on whether Edmund Scanlon will take this role now.


  • Options
    #904
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    Who's Eamonn Scanlon? the ceo job could be seen as a poison chalice now,the A shares being worth €500000?


  • Options
    #905
    BannerBarry
    Banned (with Prison Access) Posts: 452 ✭✭BannerBarry


    fepper wrote: »
    Who's Eamonn Scanlon? the ceo job could be seen as a poison chalice now,the A shares being worth €500000?

    Edmund Scanlon.. Kerry Group PLC s new CEO. Would he be the co op new CEO.

    500k seems too high. > €200K windfall per A supplier from a 100% conversion from what I last saw..... 20 times more than what Glanbia Co-Op will get from their shares with the latest Reorganisation.


  • Options
    #906
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    At least its not even on the agenda down here which is a good thing,hopefully glanbia shareholders will also keep their coop shareholdings intact so it doesn't give guys down here the same brainwave


  • Advertisement
  • Options
    #907
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    The Kerry plc share is rising steadily,it'll be up to its highest price of €84+ shortly at this rate.....


  • Options
    #908
    Hh6630
    Site Banned Posts: 8 ✭Hh6630


    Of course the shares are going to have their ups and downs but I wouldn't be surprised if they got very very close to €100 this year, there's been countless articles in the papers about Kerry in the past week but something which was mentioned a few times was how 2017 was expected to be a big year for acquisitions…

    The number 1 thing we've to worry about at the moment is that presuming we win the case against the revenue commissioners then hopefully none of the co op board will try wreck everything by trying to illegally hand out patron shares again

    The co op have been backed into a corner, like all dictatorships the whole lot will crumble over night, there will be joyous celebrations in county Kerry the night that the co op board does eventually fall apart, it will be reminiscent of the Berlin Wall being tore down & the USSR collapsing


  • Options
    #909
    kerry cow
    Registered Users Posts: 1,303 ✭✭✭kerry cow


    The glanbia farmers are on for a hiding !!! . What's in there heads .
    Let it be a lesson to the kerry boys .
    Stay well clear of processing milk and milling feed .


  • Options
    #910
    BannerBarry
    Banned (with Prison Access) Posts: 452 ✭✭BannerBarry


    kerry cow wrote: »
    The glanbia farmers are on for a hiding !!! . What's in there heads .
    Let it be a lesson to the kerry boys .
    Stay well clear of processing milk and milling feed .

    It's hard to understand the Glanbia Co op mindset..parts of the deal are reminiscent of a Podzi scheme in reverse ... The mantra seems to be... let's use Co op shareholders money to top up the Co op suppliers Milk price.
    As the GII has then made artificial profits due to paying lower milk price let the co op suppliers get deeper into the company by selling their valuable Plc shares.

    They had to buy into the co op spending ~ €10k to get the milk support... the support that came from Co op Shareholders funds.... again sales being inflates as fellas used their own Co op money to buy feed at market price less the support that came from their own pockets.

    If Glanbia Co-Op converted all their shares they would receive €130k on average today... They will have to milk some amount of cows to recoup this much money into their hand without lifting a finger or breaking their backs.


  • Options
    #911
    Fixture
    Registered Users Posts: 126 ✭✭Fixture


    BannerBarry wrote: »
    It's hard to understand the Glanbia Co op mindset..parts of the deal are reminiscent of a Podzi scheme in reverse ... The mantra seems to be... let's use Co op shareholders money to top up the Co op suppliers Milk price.
    As the GII has then made artificial profits due to paying lower milk price let the co op suppliers get deeper into the company by selling their valuable Plc shares.

    They had to buy into the co op spending ~ €10k to get the milk support... the support that came from Co op Shareholders funds.... again sales being inflates as fellas used their own Co op money to buy feed at market price less the support that came from their own pockets.

    If Glanbia Co-Op converted all their shares they would receive €130k on average today... They will have to milk some amount of cows to recoup this much money into their hand without lifting a finger or breaking their backs.

    If your predecessors in kerry took that approach in 1990's or early 2000's you and your fellow co op shareholders would have lost out on billions of value growth.


  • Advertisement
  • Options
    #912
    Hh6630
    Site Banned Posts: 8 ✭Hh6630


    Fixture wrote: »
    If your predecessors in kerry took that approach in 1990's or early 2000's you and your fellow co op shareholders would have lost out on billions of value growth.

    Are you going to elaborate Fixtute because I'm not quiet sure see what your getting at?

    I think you might be on about the patron share scheme. The easiest way to explain what happened with the patron shares was that Kerry Co Op owned let's say 55 million PLC shares, there was 5 million Kerry Co Op shares. Basically they gave out another 3 million Co Op shares to Kerry Group milk suppliers so now when Co Op shares are converted into PLC's we get 6.12 instead of 11… it was a grave injustice what happened with the issuing of patron shares but at least all our Co Op shares are going to be converted into PLC shares, I don't ever see that happening with Glanbia because of the way the Co Op and PLC are going to be so interlinked now… also the patron share scheme was just a handy way for Kerry Group PLC to pinch penny's on milk price, it by no means gave way to billions of euros worth of growth!


  • Options
    #913
    Fixture
    Registered Users Posts: 126 ✭✭Fixture


    Hh6630 wrote: »
    Are you going to elaborate Fixtute because I'm not quiet sure see what your getting at?

    I think you might be on about the patron share scheme. The easiest way to explain what happened with the patron shares was that Kerry Co Op owned let's say 55 million PLC shares, there was 5 million Kerry Co Op shares. Basically they gave out another 3 million Co Op shares to Kerry Group milk suppliers so now when Co Op shares are converted into PLC's we get 6.12 instead of 11… it was a grave injustice what happened with the issuing of patron shares but at least all our Co Op shares are going to be converted into PLC shares, I don't ever see that happening with Glanbia because of the way the Co Op and PLC are going to be so interlinked now… also the patron share scheme was just a handy way for Kerry Group PLC to pinch penny's on milk price, it by no means gave way to billions of euros worth of growth!

    Okay fair point re patronage shares causing dilution to existing shareholders.

    I thought you were advocating immediate sell out by glanbia co op to get hands on lump sum value. My point was that if kerry co op sold out of kerry group too early the co op would not have benefitted from the amazing value growth of last decade especially. I know farmers could have held onto to spun out shares, but the plc would probably have been bought out in that scenario and the link broken.


  • Options
    #914
    BannerBarry
    Banned (with Prison Access) Posts: 452 ✭✭BannerBarry


    Kerry co-op shareholders meetings are being held from Monday 20th March to Wednesday 22nd March next at the below venue's.

    Monday 20th March in Killarney Plaza Hotel
    Tuesday 21st March Listowel Arms Hotel
    Wednesday 22nd March South County Hotel Limerick

    All A & B shareholders are invited today to attend.
    Let everyone entitled to attend go and ask the questions that need to be asked.
    These Directors work for you as a shareholder.


  • Options
    #915
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    I wonder what they have to say to us Barry,should be interesting especially as Stan was there last year so will it be Mundy head honcho at these meetings


  • Options
    #916
    BannerBarry
    Banned (with Prison Access) Posts: 452 ✭✭BannerBarry


    fepper wrote: »
    I wonder what they have to say to us Barry,should be interesting especially as Stan was there last year so will it be Mundy head honcho at these meetings

    The letter says Stan the man will be there also.
    It would be good to have a list of questions to have for the Directors at the meeting also.

    The €1m spend last year.
    What are the plans for Kerry Co Op (After the Patronage tax issue is over).
    Why 28 Farmer Directors of an Investment holding company?
    What dividend will be proposed this year?
    What efforts are the Directors making so it's shareholders realise a correct price for these valuable shares?
    Etc etc


  • Options
    #917
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    How come Stan will be there Barry?


  • Options
    #918
    BannerBarry
    Banned (with Prison Access) Posts: 452 ✭✭BannerBarry


    fepper wrote: »
    How come Stan will be there Barry?


    Stan is giving his usual update on our Investment in Kerry Group and presumably an update on the Milk price outlook.

    Check out the IFJ today;
    What's going on in the Co op now?

    The Irish Farmers Journal understands James Doyle has stepped back from his involvement with the Kerry Co-op board. We believe he sent emails to some board members informing them of his decision. 


  • Options
    #919
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    I just thought that with Stan not being coop ceo this year that he wouldn't have to be there


  • Options
    #920
    BannerBarry
    Banned (with Prison Access) Posts: 452 ✭✭BannerBarry


    fepper wrote: »
    I just thought that with Stan not being coop ceo this year that he wouldn't have to be there

    Yea I was surprised to see he was turning up also considering the abuse thrown at him last year.
    The letter was signed by John O'C as Kerry Agribusiness has the relationship with the suppliers not the Co op


  • Options
    #921
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    So basically its for milk suppliers to plc these meetings are for if agribusiness sent these out and Kerry agribusiness/plc wouldn't be in position to answer those coop related questions Barry I can hear them saying!!.......thats for coop AGM to answer you'd be told


  • Advertisement
  • Options
    #922
    BannerBarry
    Banned (with Prison Access) Posts: 452 ✭✭BannerBarry


    fepper wrote: »
    I

    It's for everyone if you are an A or a B shareholder.
    B's are allowed turn up and do turn up and the few ask the akaward questions that need to be asked.


  • Options
    #923
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    Barry if its a information type meeting I'm sure even milk suppliers with no share or Cs can turn up as don't think they'll be checking if shareholder or not at these type of meetings


  • Options
    #924
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    BannerBarry wrote: »
    Kerry co-op shareholders meetings are being held from Monday 20th March to Wednesday 22nd March next at the below venue's.

    Monday 20th March in Killarney Plaza Hotel
    Tuesday 21st March Listowel Arms Hotel
    Wednesday 22nd March South County Hotel Limerick

    All A & B shareholders are invited today to attend.
    Let everyone entitled to attend go and ask the questions that need to be asked.
    These Directors work for you as a shareholder.

    Got the letter now,it's a Kerry agribusiness for suppliers/plc shareholders meeting,no mention of Kerry coop shareholders A or B invited specially here!!,Barry,down on the right below of the letter it says KERRY CREAMERIES LTD,both Kerry agribusiness and Kerry creameries ltd are part of KERRY GROUP PLC COMPANY ACCORDING TO ITS ACCOUNTS so it seems no connection to Kerry coop at these meetings,Kerry coop and Kerry agribusiness are completely two different entities so the real Kerry coop meeting takes place at its own AGM


  • Options
    #925
    BannerBarry
    Banned (with Prison Access) Posts: 452 ✭✭BannerBarry


    fepper wrote: »
    Got the letter now,it's a Kerry agribusiness for suppliers/plc shareholders meeting,no mention of Kerry coop shareholders A or B invited specially here!!,Barry,down on the right below of the letter it says KERRY CREAMERIES LTD,both Kerry agribusiness and Kerry creameries ltd are part of KERRY GROUP PLC COMPANY ACCORDING TO ITS ACCOUNTS so it seems no connection to Kerry coop at these meetings,Kerry coop and Kerry agribusiness are completely two different entities so the real Kerry coop meeting takes place at its own AGM

    The letter was sent to Co op B shareholders and former milk suppliers also.
    The co op Directors go to these meetings also. See last year's posts and the spat between John O'C and the Co op Op Directors over the Strategic Review Committee and them being very well paid for this never ending review.

    All B shareholders should of course turn up to discuss their Co op assets and investments outlook.


  • Options
    #926
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    The coop directors on the plc board/Kerry agribusiness will probably be there alright but it will be in a plc capacity im sure,again I think its the coops AGM that the hard questions should be asked,Callaghan is also a coop shareholder in the coop and in the position that he's in with the plc and at these meetings,the spat could be personal and is probably one of the many disgruntled coop shareholders with no confidence in a non performing coop board who sit back and let the PLC do all the work here,the coops assets and investment future are in the PLCs hands in reality for now and thank god for that ray of hope


  • Options
    #927
    Fixture
    Registered Users Posts: 126 ✭✭Fixture


    Any word on whether the recently appointed new Plc CEO will be attending?


  • Options
    #928
    BannerBarry
    Banned (with Prison Access) Posts: 452 ✭✭BannerBarry


    Fixture wrote: »
    Any word on whether the recently appointed new Plc CEO will be attending?

    No mention of Edmund Scanlon at the meeting... He's probably still wrapping up deals in Asia.


  • Options
    #929
    BannerBarry
    Banned (with Prison Access) Posts: 452 ✭✭BannerBarry


    IFJ Article;

    The average price of land in Kerry during 2016 was €7,730 an acre; that’s down 17% on the previous year.

    Shirley Busteed of the Irish Farmers’ Journal says falling milk prices greatly impacted on land values and supply in Kerry last year, and the Kerry Co-Op patronage share issue also had a lesser effect.


    Did the Patronage shares tax issue that surfaced at the end of November 16 impact land prices any bit?????
    An unfavourable Appeal ruling in a few months could impact 2017 prices but really milk prices and the glut of mountain type land for sale was surely the biggest factor for Kerry land prices in 2016?


  • Options
    #930
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    I would presume land prices all over the country is well down as well Barry,my neighbour sold 12 acres 3 yrs ago for €19000 a acre,he mightn't get that now but id say base price would still be €15000+ now,and there were no Kerry shares involved here on the buyers side,farmer also,suckler,but has a lucrative business as well ,had to buy it anyway at any price I'd say as that piece of land right in front of his dwelling house


  • Advertisement
  • Options
    #931
    kerry cow
    Registered Users Posts: 1,303 ✭✭✭kerry cow


    There was only a hand full of worth while parcels of land sold in kerry with alot of crap also sold .If you took the good ground it would be 10k to 12k on average .
    It all depends on a neighbour. I have seen neighbour farmers paying up to 12k to 13k for mixed land next door .
    The progressive farmers are the ones to spend money and they are the guys to buy land etc but problem is that l their plc shares are gone and the guys who still have them won't sell them for land and unless a conversion comes then alot of land will go at 6k to 8 k per ac .


This discussion has been closed.
Advertisement