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MAJOR PROBLEM Kerry Group Old Shares

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    #992
    BannerBarry
    Banned (with Prison Access) Posts: 452 ✭✭BannerBarry


    fepper wrote: »
    The facts have been laid out on this forum,so your right it is now up to the shareholders to keep this coop going or not

    It's up to the Directors to listen to what the members are saying and they are legally obliged to act in our interests.
    Te members need to be very vocal so they get the opportunity to vote on the future direction of Kerry Co Op Creameries Ltd.


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    #993
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    BannerBarry wrote: »
    It's up to the Directors to listen to what the members are saying and they are legally obliged to act in our interests.
    Te members need to be very vocal so they get the opportunity to vote on the future direction of Kerry Co Op Creameries Ltd.

    Barry,are we calling For a special meeting to vote for full conversion and no more Kerry coop as they seem to be calling the shots unfortunately and some shareholders will do what there're told to do on their recommendations?.......


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    #994
    BannerBarry
    Banned (with Prison Access) Posts: 452 ✭✭BannerBarry


    fepper wrote: »
    Barry,are we calling For a special meeting to vote for full conversion and no more Kerry coop as they seem to be calling the shots unfortunately and some shareholders will do what there're told to do on their recommendations?.......

    Fepper. 100% correct call. Ask the Directors to have a SGM to vote on Converting all the shares.
    Also remind them that 50% of A's and B's will call it if they don't very soon.

    Ask for the results of the Strategic Review and how long this committee is deliberating on the result we all know and how much this Quangos cost the co op kitty.


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    #995
    kerry cow
    Registered Users Posts: 1,303 ✭✭✭kerry cow


    Mundy played a blinder in fairness .
    Stan got the cold shoulder in general .
    James was disappointed with the milk price .
    There will be no spin out for quite a while but it will come .


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    #996
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    It seems you enjoyed that meeting kerrycow,good that conversion still on track for the future


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    #997
    kerry cow
    Registered Users Posts: 1,303 ✭✭✭kerry cow


    The night boiled down to 2 halves .
    The plc is powering ahead with good forecasts for growth . Stan is doing a good job at the helm and is quite cold along with joc to anything that would not return a profit to the plc . Both got few warm comments from the floor regarding milk price futures or the handling of clause 701 while stan was head of the co op .but they both poker faced, rode it out .
    Mundy was excellent as chair and battled hard for the co op share holder and milk supplier alike .he made it quite clear to all that it was his job along with all other co op representatives to be answerable to share holder questions and let it open to the floor for a long period time .
    To read between the lines there are a few( more than one ) taxation pionts that need clearing before a spin out happen .It is my opinion that it will not happen with in a year and possibly alot longer .
    It was my first time seeing hayes speak and I must say I was impressed that he is fair and measured to the challenges the co op face in the immediate times .
    He knows the value of a pound and knows what the co op share value means to shareholders .
    Stan stood firm for his plc
    Hayes battles on for the co op share holders but more needs to be done with the cost of inputs and possibly the surplus milk the kerry farmers supply that is not contracted to kerry plc should be sent to west cork .
    No standing ovation goodbye for stan ,
    Hayes cool and measured .


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    #998
    BannerBarry
    Banned (with Prison Access) Posts: 452 ✭✭BannerBarry


    100% on the above points and something we had overlooked here was the representation that's already there for Farmers with the other groups IFA ICMSA etc.
    Why then are an Investment holding company spending our money on suing our investment... This representation is the job of the IFA


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    #999
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    BannerBarry wrote: »
    100% on the above points and something we had overlooked here was the representation that's already there for Farmers with the other groups IFA ICMSA etc.
    Why then are an Investment holding company spending our money on suing our investment... This representation is the job of the IFA
    no doubt about it but the Kerry coop board will milk this representation on price to appease the shareholders suppliers ,it will be hard to break this link unless another Kerry plc suppliers group get started up with its own representatives,questions have to raised on if they are getting paid,it seems to me its for share management only and not using the coop for their own personal milk issues


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    #1000
    kerry cow
    Registered Users Posts: 1,303 ✭✭✭kerry cow


    I am only telling you how it played out in killarney and how it was more about milk price and revenue than plc returns .
    I am sure kerry 2016 will address the chair in listowel with all his energy and get answers from the top table in front of his fellow suppliers and share holders .
    Let await the out come .


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    #1001
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    kerry cow wrote: »
    I am only telling you how it played out in killarney and how it was more about milk price and revenue than plc returns .
    I am sure kerry 2016 will address the chair in listowel with all his energy and get answers from the top table in front of his fellow suppliers and share holders .
    Let await the out come .

    I thought you said it was all bout the plc and their future long term plans and its the plc thats battling for the shareholders here,Kerry coop wont add a cent to the share price


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    #1002
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    Kerry 2016 wont be letting us know what happened at the meeting in listowel cos his banned,hopefully one of his many friends on here will tell us about his shenanigans at this meeting,should be interesting!!........


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    #1003
    BannerBarry
    Banned (with Prison Access) Posts: 452 ✭✭BannerBarry


    fepper wrote: »
    Kerry 2016 wont be letting us know what happened at the meeting in listowel cos his banned,hopefully one of his many friends on here will tell us about his shenanigans at this meeting,should be interesting!!........

    Kerry 2016 if you are getting vague answers tonight maybe a few fresh faces at Director level would help sharpen the answers and direction of the co op up.
    50% of A's and B's can sort that out!


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    #1004
    kerry cow
    Registered Users Posts: 1,303 ✭✭✭kerry cow


    fepper wrote:
    Kerry 2016 wont be letting us know what happened at the meeting in listowel cos his banned,hopefully one of his many friends on here will tell us about his shenanigans at this meeting,should be interesting!!........

    A cat has nine lives and kerry 2016 should be called kerry cat 9


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    #1005
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    BannerBarry wrote: »
    100% on the above points and something we had overlooked here was the representation that's already there for Farmers with the other groups IFA ICMSA etc.
    Why then are an Investment holding company spending our money on suing our investment... This representation is the job of the IFA
    Thats a great statement,if they are not happy with Kerry plc,why have they our coop money invested in a plc that they are complaining about the PLCs milk price on behalf of a few milk suppliers/coop shareholders but still accepts their dividends that those same plc milk suppliers/coop shareholders also accept,so in theory anyway,they are willing to accept the plc milk price, with Kerry coop also accepting the plc methods on increasing dividends.....


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    #1006
    kerry cow
    Registered Users Posts: 1,303 ✭✭✭kerry cow


    It wasn't mundy who implied selling surplus to west cork , that was a comment made by a attendant after the meeting had closed . Mundy only referee to the west cork paying the best price .at the end of the day the contracts signed by the farmers was too long and all slanted in favour of the plc .There lies the problem that holds up spin out also .There was alot of hate for stan and mundy I think would get 90% support on the night thar was in it .
    Let's see how listowel goes .


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    #1007
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    You seem to be accepting that Kerry coop should be representing you on milk so but Mundy representing Kerry coop is not to your liking and that's ok but Kerry coop are a investment holding company so how could they be representing milk suppliers now,I'm sure they are doing it in their personal capacities as milk suppliers who happen to be on the Kerry coop board,you'd have the same impact on speaking on milk price at that meeting as Mundy would have....


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    #1008
    kerry cow
    Registered Users Posts: 1,303 ✭✭✭kerry cow


    Mundy is elected to represent and if anyone wants answers then the democratic way is passage through the board not by ones own barge


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    #1009
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    kerry cow wrote: »
    It wasn't mundy who implied selling surplus to west cork , that was a comment made by a attendant after the meeting had closed . Mundy only referee to the west cork paying the best price .at the end of the day the contracts signed by the farmers was too long and all slanted in favour of the plc .There lies the problem that holds up spin out also .There was alot of hate for stan and mundy I think would get 90% support on the night thar was in it .
    Let's see how listowel goes .

    Well if what your saying that there is lot of hate for Stan and the plc and a love in for a milk supplier representative,its the selfish milk suppliers that are putting the brakes on a conversion with their correlation with the share and milk,completely two different entities


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    #1010
    kerry cow
    Registered Users Posts: 1,303 ✭✭✭kerry cow


    Exactly. Stan at one point asked in quite a pissed tone as to why are they here , are you not interested in you share investment !!! Maybe best if ye stayed at home .
    Mood was cold towards him and you'd wonder why he bother doing 3 nights of abuse .


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    #1011
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    kerry cow wrote: »
    Mundy is elected to represent and if anyone wants answers then the democratic way is passage through the board not by ones own barge

    Elected to represent the shareholders only,not to represent himself as a milk supplier


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    #1012
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    kerry cow wrote: »
    Exactly. Stan at one point asked in quite a pissed tone as to why are they here , are you not interested in you share investment !!! Maybe best if ye stayed at home .
    Mood was cold towards him and you'd wonder why he bother doing 3 nights of abuse .
    Fair dues to Stan for saying that,it must've been a nightmare for him before having to deal with a Kerry coop board with so many agendas and self righteousness like a overbearing parent


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    #1013
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    Hayes battles on for the co op share holders but more needs to be done with the cost of inputs and possibly the surplus milk the kerry farmers supply that is not contracted to kerry plc should be sent to west cork .
    No standing ovation goodbye for stan ,
    Hayes cool and measured .[/QUOTE]

    The coop can do nothing for its shareholders now as its the PLC doing 100% for the shareholders now,I laughed at that post,are some shareholders still that gullible......


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    #1014
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    Its the whole coop board and advisory committees that are living this LIE not just Mundy and hopefully the ordinary shareholders will now know how this false coop operates......


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    #1015
    kerry cow
    Registered Users Posts: 1,303 ✭✭✭kerry cow


    Well listowel should make a interesting evening if the people on here turn up and talk the talk and walk the plank .I think I might drive over there to gauge the mood by the northern big rich farmers !
    I am new to farming and only have I inherited a few shares and so milk price is more important to me but I can understand the co op share holders view .


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    #1016
    kerry cow
    Registered Users Posts: 1,303 ✭✭✭kerry cow


    There should be three different boards .
    The plc
    The co op shares
    And the milk suppliers .

    It's high time milk suppliers are represented by a new group and leave the share holders of the plc and co op to sort their differences without milk suppliers .
    It should be put to mundy tonight that the meeting should not be about milk prices or 13th payments but about shares and conversions and a new group should form to discuss milk price .
    It's stans job to buy cheap and sell expensive .
    It's the co ops job to represent all shareholders equally .


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    #1017
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    kerry cow wrote: »
    There should be three different boards .
    The plc
    The co op shares
    And the milk suppliers .

    It's high time milk suppliers are represented by a new group and leave the share holders of the plc and co op to sort their differences without milk suppliers .
    It should be put to mundy tonight that the meeting should not be about milk prices or 13th payments but about shares and conversions and a new group should form to discuss milk price .
    It's stans job to buy cheap and sell expensive .
    It's the co ops job to represent all shareholders equally .

    Great idea ,I thought joc was chairing these meetings,is Mundy up at top table as well but representing plc on behalf Of coop board so he would have to be seen as neutral on that subject at a plc meeting but as chairman of our investment in plc its part of his job to be there


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    #1018
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    Isn't that a good reason to wind up Kerry coop so that influence for the wrong reasons dies with Kerry coop,I know lee strand suppliers who are very wealthy from milk so there is no reason why Kerry plc milk suppliers are not as wealthy and so the shares are a separate investment on their own and should be seen for that and not linking it to farm as most are distributed to non farming members of the shareholder as part of family settlements to children or siblings and relatives


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    #1019
    BannerBarry
    Banned (with Prison Access) Posts: 452 ✭✭BannerBarry


    fepper wrote: »
    Isn't that a good reason to wind up Kerry coop so that influence for the wrong reasons dies with Kerry coop,I know lee strand suppliers who are very wealthy from milk so there is no reason why Kerry plc milk suppliers are not as wealthy and so the shares are a separate investment on their own and should be seen for that and not linking it to farm as most are distributed to non farming members of the shareholder as part of family settlements to children or siblings and relatives

    KerryCow simplified everything very much so today.

    Plc
    Investment holding
    Milk Suppliers Group

    Convert 100% of the Investment holding company called Kerry co-op.
    Start a new Milk suppliers Group.. as Mundy and James are so keen to only work represent the Milk suppliers I'm sure they, and all 28 Directors, will be more than happy to keep this Milk Supply Group going on a voluntary basis... This would be a great test of loyalty for this leaders


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    #1020
    fepper
    Closed Accounts Posts: 2,434 ✭✭✭fepper


    Looks like ye put him under pressure at that meeting last night with the questioning,revenue wont spare spending our money on winning this case at any cost,Kerry 16 wont like that,and if the patronage share court case is lost thats another stick to beat the board with on their capabilities and decisions down the road if left to operate,this case could be the best thing if lost to finally finish off Kerry coop


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    #1021
    BannerBarry
    Banned (with Prison Access) Posts: 452 ✭✭BannerBarry


    "Young farmers and how shares need to be kept there for them, from what I gather tonight I'm under the impression the co op think we'll lose the tax case with revenue over the patron shares and yet our chairman wants to keep our €2bn worth of Kerry Group shares locked away so he can unlawfully try give them away to young farmers."

    The bit they are overlooking is that any younger farmers I know have struggled so much in their first few years that the father with the KerryCo-op shares has had to sell them to a businessman at €180 when they are worth €450.
    The co op board do not seem to give a toss about the young farmers when they allow this happen.
    It looks like their only concern is their Co op Salary and expenses


This discussion has been closed.
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