MAJOR PROBLEM Kerry Group Old Shares

popa smurf

Jmos22 wrote: »

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?

All gone very quite on here not much information about AGM I am C shareholder myself I get no information what so ever

fepper

Ye will get dividends Friday,that's all to report at the moment

jhncrwly

fepper wrote: »

Ye will get dividends Friday,that's all to report at the moment

Was there any discussion around a vote in the future surrounding any topic or issue that was raised at the meeting. It sounds like it was all very uneventful considering all the media debate around a share exchange being imminent following the AGM.

fepper

Milk price was main talking point at meeting and standoff between plc and coop on this issue,share conversion also well debated,no decisions on that yesterday,strategic review ongoing so hopefully available at next AGM big decisions then id say.

BannerBarry

Crazy lack of knowledge by shareholders (with voting rights) not to realise the theoretical money they are sitting on and not to pursue the "conversion" of this book money to cash in their bank account.
Most at the meeting would head to a mart 50 miles away to get an extra €5 on a fresian bull calf and they won't go to the AGM for their €1.9billion company to ensure its being managed correctly.

fepper

BannerBarry wrote: »

Crazy lack of knowledge by shareholders (with voting rights) not to realise the theoretical money they are sitting on and not to pursue the "conversion" of this book money to cash in their bank account
Most at the meeting would head to a mart 50 miles away to get an extra €5 on a fresian bull calf and they won't go to the AGM for their €1.9billion company to ensure its being managed correctly.

We are lucky in away that that they are just a holding company for our coop/plc shares as the plc company are making a fantastic job of managing/investing the value of these shares, imagine if we just had the one 51 shares only now that our coop board invested in,we were lucky we didn't let them go on spending spree then,its not all bad really!!

BannerBarry

I echo that Fepper.
We owe Kerry Group PLC, it'd employees, it's management and it's visionaries. ... Denis Brosnan and Stan McCarthy everything.

Our shares would be penny shares without these great employees and leaders.
They are the sole reason our co op shares are worth € 200 plus.
Thank you all.

fepper

I'd say you meant to post €500 plus there banner (I'll correct that)!!

BannerBarry

Yes. Each Co Op share is worth €480 plus based on book value but because of the disfunctional structures currently in place trade on the open market at € 200 per share plus.
A crazy devaluation because of uncertainty on the co ops future.
And based on no conversion from yesterday's AGM meeting the loss of value on the shares will continue for longer and punish the existing shareholders pockets for longer.

fepper

Don't sell before any conversion if you can, keep them,they are really stringing it out for sure re conversion but if needs be you'll take big hit but ask high €300-€400

BannerBarry

Nobody should sell below the full value of the shares, not even €300-€400 per share in my opinion

fepper

They are making well over €300 in small batches, supply and demand,doesn't seems to be a lot on sale at any time but ur right keep if you can

popa smurf

So is giving out co op shares to new entrants off the table.

fepper

For now, yes.future,don't know.

Kerry2016

The board got told straight up to their faces that it would be illegal for them to hand out any more patron shares thanks to new company law that got brought in back in 2014. There will be no more patron shares handed out. It's against the law and the Co Op board members as tick, ignorant and downright stupid as they are surely realise they're not above the law of the land.

fepper

I see another Kerry coop in the dealer section of FJ this week,newtownsandes, we are really hogging the limelight down here now

BannerBarry

Kerry2016 wrote: »

The board got told straight up to their faces that it would be illegal for them to hand out any more patron shares thanks to new company law that got brought in back in 2014. There will be no more patron shares handed out. It's against the law and the Co Op board members as tick, ignorant and downright stupid as they are surely realise they're not above the law of the land.

I believe this is the law change.

http://www.arthurcox.com/publications/companies-act-2014-compensation-oppressed/

It's a great reminder of the law to our Directors should they ever try to prioritise the Dairy interests of the A Shareholders over that of all the company members and the implications of same now in company law.
We are majority all farmers just not all dairy farmers now.

fepper

Banner, they must be a budding barrister,solicitor,tax consultant gene running through your blood waiting to be let out and do its stuff well done

BannerBarry

If only. I might be making big money and able to sort out this co op!
I have a tendency to remember things that affect the value of my few shares!

BannerBarry

FRAUD AND THE MINORITY

Minority shareholders may now be awarded compensation by the courts for wrongs suffered at the hands of majority shareholders. This change, brought about by the Companies Act 2014, is a further powerful weapon in the armoury of a wronged shareholder of which both minority and majority shareholders should be mindful.

Section 212 of the Companies Act 2014, which came into force on 1 June 2015, deals with the protection of minority shareholders and provides that if a court is of the opinion that a company’s affairs are being conducted or the directors’ powers are being exercised in a manner oppressive to a member of the company or in disregard of its interests, it may make any order it thinks fit with a view to bringing to an end the matters complained of.

..............
I'm charging Board member rates for this information ;-)

popa smurf

Did ye get dividend today no payment here yet and me away on holidays

BannerBarry

My Dividend isn't in my account either but got the Dividend Slip was in the post.
It might be visible in your account tomorrow morning.
I think last year was similar if I remember correctly.

Some shocks on the stock market today. Crazy stuff happening.

Enjoy the holiday!

mickey joes

Any developments here. Was there an EGM or meeting recently?

mickey joes

Any developments. Was there a co op meeting recently

BannerBarry

Hey. Welcome new member. Good to have you on the Thread.
AGM was on this week as you know.
No good news unfortunately as you can see from the thread.

popa smurf

BannerBarry wrote: »

My Dividend isn't in my account either but got the Dividend Slip was in the post.
It might be visible in your account tomorrow morning.
I think last year was similar if I remember correctly.

Some shocks on the stock market today. Crazy stuff happening.

Enjoy the holiday!

Ya banner I was up at 6 and I see the results and I knew it was goimg to be one of those days I was expecting a 10 percent drop at 8 but we finished strong,, back kerry all the way, not a bad day at all enkoying the evening

BannerBarry

Popa Smurf, the dividend is in the account this morning. Yours should be the same... Enjoy the holiday now :-)

The recovery of Kerry Groups share price on the day from a day of carnage shows how well Kerry Group and it's management and staff are regarded on the stock market.
With Bank of Ireland down over 20% on the day, relief is the word I think for Kerry CoOp and Group shareholders

silchester

Has there been any update on this since Mid May - it's the end of June now

fepper

As banner said,no changes in Kerry coop status from 2015,you should really read all posts up to the present post for updates!!

amadain

GREAT THREAD Boys