MAJOR PROBLEM Kerry Group Old Shares

kerry cow

In killarney they were very positive for a successful revenue outcome and the impression was that the spun out would happen once the revenue was put to bed

fepper

It was the boards decision to give out patronage shares to milk suppliers to another company for a peanut price,thats robbery really if your a existing shareholder and for anyone to continue supporting a board with that kind of mentality is madness

fepper

kerry cow wrote: »

In killarney they were very positive for a successful revenue outcome and the impression was that the spun out would happen once the revenue was put to bed

Promises,promises,...

fepper

That relationship between coop and plc has to be at breaking point now,I think we know the elephant in the room is the coop at this stage

fepper

It really is about their purpose for existence at this stage,we don't need them as our investment managers as we are all capable of managing our potential plc shares as we do with our existing plc shares on previous spin outs,so all we need now is definitive answers to exit in a tax efficient way,I know we are going round in circles with nearly 70 pages on this thread trying to get this conversion to a finality

BannerBarry

fepper wrote: »

It really is about their purpose for existence at this stage,we don't need them as our investment managers as we are all capable of managing our potential plc shares as we do with our existing plc shares on previous spin outs,so all we need now is definitive answers to exit in a tax efficient way,I know we are going round in circles with nearly 70 pages on this thread trying to get this conversion to a finality

In reality if this lack of conversions going on for years more (as we all stay silent and place our faith in the Directors) we are actually better off converting 100% and paying the tax even as Income Tax.
* This way we end up with €220 per share (after 52% tax)

* Liquidate the Co op and we end up with €307 per share worst case (after 33% cgt).

* The other alternative is have to sell on the Grey market and get €180 or so per share (and pay cgt on this at 33%).
It's rediculous. The Directors are forcing fellas to sell very valuable shares by their inactions when the alternatives are very simple. The tax is a convenient distraction from what I can make out.

fepper

BannerBarry wrote: »

In reality if this lack of conversions going on for years more (as we all stay silent and place our faith in the Directors) we are actually better off converting 100% and paying the tax even as Income Tax.
* This way we end up with €220 per share (after 52% tax)

* Liquidate the Co op and we end up with €307 per share worst case (after 33% cgt).

* The other alternative is have to sell on the Grey market and get €180 or so per share (and pay cgt on this at 33%).
It's rediculous. The Directors are forcing fellas to sell very valuable shares by their inactions when the alternatives are very simple. The tax is a convenient distraction from what I can make out.

Surely a competent tax agency should be at a meeting and to spell out our options cos I don't believe the board here as you say Barry

fepper

Chipping away at it,did you see the film " THE SHAWSHANK REDEMPTION"where the prisoner was Chipping away a prison wall for a passage to freedom for years and rightly got his financial reward in the end,but by god he earned it hard,same scenario here,the prisoner in our situation is "COOP SHARE",the prison is "KERRY COOP" and the "PRISON WARDENS HAYES/DOYLE"

kerry cow

Like I said stan had to listen to alot of crap that he doesn't need to hear from farmers .its his job to buy cheap and sell dear and drive on share price .
Unfortunately it's the farmer that will be rolled over here .
Not surprised he walked out and in killarney I felt he couldn't wait to get his bot on a seat to the US and as far away from ky as possible .The horse has long bolted and it time to move on .
There is a air of romance out there that the farmers feel like the plc owes them .
The co op needs to cash it's chips and the farmers need to represent themselves on milk .end of

fepper

Thats good to hear from a milk supplier that Kerry coop don't represent farmers anymore,music to my ears,at least reality is at long last is in motion, and is laughable for those farmers to believe a investment holding company are fighting for better milk price,come on!.....

fepper

Did you ask that question to Mundy last night?.... And why do you think the limerick meeting is so important to ask this question

fepper

We asked last year at AGM and it was the other shareholders that didn't want it so not always boards fault,get all shareholders on board for conversion and we have some chance

fepper

Are The limerick shareholders more militant up there than some of our sheep down here,banner might head over and show the teeth!..... For the Clare freedom fighters

marno21

What time is the meeting later & is it for all coop shareholders or just milk suppliers?

kerry cow

It's for co op and plc share holders .its 8pm in South court. Worth a visit .
Might go myself at the end to hear the opinion .

fepper

Open to all really,I think its 8pm

fepper

The coop board seem to doing a lot of worrying for us lately with the 701 last year and now telling us don't be reading unfavorable articles about them in the papers ,they mustn't like the spotlight on them lately as their cushy little positions on the board are now more transparent!....

fepper

i know him personally alrite but to be honest have not talked to him for years just a nod and hello whenever we see each other,nothing against the man, im sure all board members want to keep kerry coop going as as extra income but will find it increasingly hard to justify their purpose fron now on

fepper

They must be all waiting for the AGM in a few months to really vent their anger and demand action on conversion

fepper

Any one with €1000000 worth of Kerry coop shares is probably already v wealthy,average is €200-400000 id say which is phenomenal really!...

marno21

Yes there was a lot of (deserved) love shown to Stan last night. Mandy got a very different reaction.

There wasn't as much chatter about conversion but a lot of talk about the future of milk pricing, mainly for JOC. Mundy didn't have much to say

fepper

That's really what the meeting wes for as it was organised by plc to discuss its business which includes milk

kerry cow

In killarney stan was bombed .
In listowel stan walked .
In limerick stan was a hero
Some differences

marno21

kerry cow wrote: »

In killarney stan was bombed .
In listowel stan walked .
In limerick stan was a hero
Some differences

I wasn't at the first two meetings, what was the issue with Stan at them?

kerry cow

As stan was the head of kerry co op at the time of the last spin out he never applied for the 701 cert from revenue which would cover all other conversion regardless of the percentage of milk supplier which allows the charge of tax at sale and not at point of spin out .so stan stumped it .
With milk price and the 13th payment he more or less told the farmers take a jump and that they seem to have no interest in the future of the plc and would have been best if some of the audience stayed at home .
From that point things went down hill with stan keeping his face in his hands and waiting to bolt for the door .he got about 3 clap and it sounded terrible .
In end everyone just got up and walked away .Shock .
In listowel I believe the kerry 2016 was well represented and voiced loudly their opinion .is the talk of North kerry I believe .

fepper

kerry cow wrote: »

As stan was the head of kerry co op at the time of the last spin out he never applied for the 701 cert from revenue which would cover all other conversion regardless of the percentage of milk supplier which allows the charge of tax at sale and not at point of spin out .so stan stumped it .
With milk price and the 13th payment he more or less told the farmers take a jump and that they seem to have no interest in the future of the plc and would have been best if some of the audience stayed at home .
From that point things went down hill with stan keeping his face in his hands and waiting to bolt for the door .he got about 3 clap and it sounded terrible .
In end everyone just got up and walked away .Shock .
In listowel I believe the kerry 2016 was well represented and voiced loudly their opinion .is the talk of North kerry I believe .

Wouldn't the chairman and board have been responsible to make sure 701 in place as I'm sure Stan was more than busy with the plc also,another cop out by the board,isn't that their job

kerry cow

The crowd rounded on stan and made out he was captain of the boat and the buck stops with him .Stan replied every one makes mistakes and that's life .
Crowd didn't like it and asked some one should pay for it ,stan told them take a jump , basically and then the spats continued with mundy and James jibing at him and the" plc ".
Dry holders didn't get a look in

fepper

kerry cow wrote: »

The crowd rounded on stan and made out he was captain of the boat and the buck stops with him .Stan replied every one makes mistakes and that's life .
Crowd didn't like it and asked some one should pay for it ,stan told them take a jump , basically and then the spats continued with mundy and James jibing at him and the" plc ".
Dry holders didn't get a look in

Dry holders are as affected as the suppliers though but I suppose milk price was also big issue there

kerry cow

Reading back on the posts .looks like someone and comments have disappeared

Upthekingdom2

fepper wrote: »

Dry holders are as affected as the suppliers though but I suppose milk price was also big issue there

Looks as if the Kerry share saga willbe dragging on for quite a few years yet.
Its a pity it has ended so badly considering the great legacy of a great company