MAJOR PROBLEM Kerry Group Old Shares

Kerry2016

Would I be right in thinking that we're getting paid the worst milk price in the country for our milk now? What more proof do people need that the Co Op board are a pack of waster parasites, all they do is leach off us. They can't even run their own farms. It's laughable that some people are still rambling on about keeping the Co Op board there to safeguard the farmers. Stan should drop the milk price to about 20c/L to show everyone once and for all what power the Co Op board have over milk price.

BannerBarry

Kerry Group upped the August price to 25 cent aligning with the market price.
I hope they do not crucify any milk suppliers with lower pricing.
There are surely better ways to let suppliers know they are spending €1 million per year on Admin for a holding company.
Surely the media need to be corrected when they refer to Kerry Co Op paying 25 cent per litre. They need to be informed the Co op is an investment holding company for us and not an active purchaser of liquid milk.

kerry cow

So to set me straight .The plc purchases the milk from the farmer .The co op is a stake holder in the plc . There are to be 2 Co op men on the plc board .The co op pays it's share of profits to the a b c share holders .
What is local committee members and Co op directors purpose. ? What have they to do with milk contracts or milk pricing??
Are they representing active milk suppliers?
If not who is ?

BannerBarry

kerry cow wrote: »

So to set me straight .The plc purchases the milk from the farmer .The co op is a stake holder in the plc . There are to be 2 Co op men on the plc board .The co op pays it's share of profits to the a b c share holders .
What is local committee members and Co op directors purpose. ? What have they to do with milk contracts or milk pricing??
Are they representing active milk suppliers?
If not who is ?

Correct on most.
The Advisory committee members most recent task I'm aware was to ask the suppliers to sign a form to allow Kerry CoOp Directors to negotiate on the suppliers behalf with Kerry Group on leading milk price for 2015.
The Co Op Directors advise on what divided to pay you and I after taking 1 million for salaries and costs for 2015.
The co op directors also approve share trades between shareholders and historically did share conversions.

They meet with Kerry Group on milk price but have no say we now know on how much you get as a milk supplier.
Kerry Group decide milk price only.
The Co-Op function as is today appears meaningless... and all at a very high cost to us shareholders.

Are you happy this structure is costing 1 million per annum?

kerry cow

Sounds like a lot of money for a job that could be done by one plus a secretary for the time been .The local committee sounds like a load of cap and the Co op directors on plc board are representing a b c holders ? .do c share holders have a plc director ?

Kerry2016

I think I should try make something clear here, I set up this thread to discuss Kerry Group shares and future share conversions and to try open people's eyes to the way the Kerry Co Op board members are robbing us our shares and our share dividends. This thread isn't here for people to discuss the milk price being paid by Kerry Group PLC, if anyone wants to talk about that rubbish they can set up a new thread. And for the last ****ing time it's Kerry Group PLC that pay us for our milk, I can't believe some idiots still think that it's Kerry Co Op that pay us for our milk.

Has anyone heard anything lately about share conversions or what's going on in the board? It was great to see this week that there will only be 2 fellas from the Co Op on the PLC's board from now on. We're slowly but surely squeezing them out of the picture.

Anyone who's going to comment back to me going on about the Kerry Co Op boards important influence on the milk price we get paid can shut up and stop embarrassing themselves.

fepper

I think the coop board and area committees are being exposed as being not fit for purpose thanks to this thread only,even I didn't question their roles but learned a lot since and I'm sure lots of people have read on this and think the same,a lot of questioning of their roles also at AGM so you certainly opened up a great debate!!

Kerry2016

Now that Kerry Group are no longer going to be paying the secatarial and other general administration expenses of Kerry Co Op the Co Op's board are going to be taking another €2,000,000 (two million euro) out of our share dividends to be paying for all that - the Co Op board are the absolute lowest of the low. Look at this disastrous year for dairy farmers, awful milk prices along with poor weather all year long have combined to create probably the worst year ever for dairy farmers, very few people are even breaking even in a year like this and all the while Kerry Co Op have €2 billion euro worth of our shares that they're holding ransom

The chairman of the Co Op board is a total fool, he's been totally going against everything Kerry Group have wanted to do over the last few years, it's his fault over Stan McCarthy having nothing to do with Kerry Co Op anymore, now that chairman is absolutely desperate to get on the PLC's board because he'll get more money that way. (He's a better chance of winning the lotto than he does of being picked by the PLC to be one of the farmers on their board) That chairman bought a farm below in Limerick for a few million euro back during the boom, he's gone clean broke and the only reason he's so dead against a full share conversion is because the Co Op would be gone then, he'd lose whatever bit of money he gets paid for being their chairman, he threw away his own Co Op shares to buy that farm below in Limerick so he's bitter about how much of a failure he is, he has a son farming himself and that's why he wanted to give our shares to young farmers - he didn't want to help young farmers, he just wanted to help himself.

That chairman doesn't give one **** about any of us and I don't think that out of the 3,300 milk supplies to Kerry Group PLC that we could have a worse representative than that fool of a man, walking around the place like Mr. T from the A Team with all the gold jewellery he'd have hanging off himself

fepper

In fairness Kerry2016 all the coop board members have a duty of care to its members shareholdings not just the chairman who was voted in by them on behalf of us,collective responsibility on all board members ,again we ask what are they all needed for,you certainly wouldn't bring out a esb crew to change a light bulb but they'd charge you well for the trip, same carry on here at Kerry coop!! Banner barrys idea of conversion of existing shares to plc asap,Kerry coop still a coop but representing milk suppliers only but those pay set fee irrespective of supply for expenses of coop board ,let them set up board structure as suits them or else wind up Kerry coop,take hit with cgt 33% on shares at least we'd still do better than selling coop shares at half their value and let the milk suppliers do their own negotiations on milk price solo or collectively!!!..........

Ciarrai76

Please keep this thread civil. It has the potential to become liabalous if not careful and if it continues it will be closed. Mod

BannerBarry

Kerry2016 wrote: »

Has anyone heard anything lately about share conversions or what's going on in the board? It was great to see this week that there will only be 2 fellas from the Co Op on the PLC's board from now on. We're slowly but surely squeezing them out.

No word on share conversions that I'm aware of. Pity the secret society was not a PLC and then they would be required to disclose important information that affects the company to ALL the shareholders.
It may also remove any potential for wink and nudge on the co op shares between those that get in the right circles... Chronyism I believe they call it!!

cute geoge

Who authorized the plc to reduce the no. of co op directors in the plc from 4 down to 2 .I can not see any advantage to kerry co op share holders by this move.Kerry plc price down again today to under €74

fepper

It was a goodwill gesture on behalf of plc to its farming background re-presented by Kerry coop, but that love-in relationship seems to in separation status now and divorce is not far away either

BannerBarry

It was part of the vote in September 2011 post the vote on coming under 20% of the PLC.
Kerry Groups share price will rise when it occurs in the day as the institutional investors will see the PLC as less likely to be conflicted with suppliers.
If the Group price rises we win also... We own 13.9% or 24 million shares in Group afterall

fepper

cute geoge wrote: »

Who authorized the plc to reduce the no. of co op directors in the plc from 4 down to 2 .I can not see any advantage to kerry co op share holders by this move.Kerry plc price down again today to under74

The only advantage it was to was the 4 coop board members sitting pretty at plc board meetings and collecting plc paid remuneration!!!........and by all accounts contributing nothing to these meetings

cute geoge

BannerBarry wrote: »

It was part of the vote in September 2011 post the vote on coming under 20% of the PLC.
Kerry Groups share price will rise when it occurs in the day as the institutional investors will see the PLC as less likely to be conflicted with suppliers.
If the Group price rises we win also... We own 13.9% or 24 million shares in Group afterall

As far as this says we voted to reduce from 7 to 4 the no. of co op directors on the plc board
http://www.independent.ie/business/farming/dates-now-set-for-crucial-votes-on-kerry-coop-shareholding-26748878.html

cute geoge

fepper wrote: »

The only advantage it was to was the 4 coop board members sitting pretty at plc board meetings and collecting plc paid remuneration!!!........and by all accounts contributing nothing to these meetings

The new directors will be paid the same anyway and probably contribute even less ,I think ye are taking the eye off the ball here the last time the no of co op directors were reduced from 7 to 4 we all got 25% of our co op shares converted to plc shares .Now the no. of co op directors is being reduced again but what is in it for the co op shareholders!!!

fepper

cute geoge wrote: »

The new directors will be paid the same anyway and probably contribute even less ,I think ye are taking the eye off the ball here the last time the no of co op directors were reduced from 7 to 4 we all got 25% of our co op shares converted to plc shares .Now the no. of co op directors is being reduced again but what is in it for the co op shareholders!!!

the difference here is that the two directors from coop have to be approved by plc management and plc shareholders before sitting down and you can be sure they will have to be up to their standards,im sure they know who they want on their board,its up to the coop to convert shares not the plc

BannerBarry

cute geoge wrote: »

The new directors will be paid the same anyway and probably contribute even less ,I think ye are taking the eye off the ball here the last time the no of co op directors were reduced from 7 to 4 we all got 25% of our co op shares converted to plc shares .Now the no. of co op directors is being reduced again but what is in it for the co op shareholders!!!

In 2011 in August I believe the shareholder vote was 1st on coming under 20% of the shares in the Group to allow the 2011 25% conversion.

In September/October 2011 there was a subsequent and separate vote to reduce the number of directors from 7 to 4. The conversion was already a done deal at that point...
I agree with you though... I would take a 50% conversion this year for the corresponding reduction in co op directors.... This is in the co ops hands not the Groups power to do.......I would even take the 26.9% conversion the Directors could do in the morning without having to have a vote to approve from the shareholders..... can you petition your local Kerry co-op Directors to instruct them of our shareholder wishes :-)

Kerry2016

I was awful disappointed yesterday that some "moderator" messaged me about this thread trying to quieten me.

I think this thread is a great way for us shareholders to stay in touch and brainstorm ideas about trying to get our Co Op shares sorted out for once and for all.

BannerBarry

Kerry2016 wrote: »

I was awful disappointed yesterday that some "moderator" messaged me about this thread trying to quieten me.

I think this thread is a great way for us shareholders to stay in touch and brainstorm ideas about trying to get our Co Op shares sorted out for once and for all.

Kerry2016, thank you for starting this thread and the insight and proven facts you brought to our attention in this thread. Most on here do not have any indication of what's happening in our Investment holding company called Kerry co-op.
You have brought some concerning facts of the happenings at Board level to our attention.
The Moderator may not like your "Davy Fitz" style or passion but he/she is not aware of the happenings and lack of information available to C shareholders in particular of Kerry Co-Op.

amadain

Kerry2016 wrote: »

I was awful disappointed yesterday that some "moderator" messaged me about this thread trying to quieten me.

I think this thread is a great way for us shareholders to stay in touch and brainstorm ideas about trying to get our Co Op shares sorted out for once and for all.

GREAT thread indeed

kerry cow

Unfortunately we can all jump up and down on here , but the reality is that it will not make the slightest difference to what kerry plc or co op will do in future except relieve a few guys on here of a bit of hot air .

Kerry2016

kerry cow wrote: »

Unfortunately we can all jump up and down on here , but the reality is that it will not make the slightest difference to what kerry plc or co op will do in future except relieve a few guys on here of a bit of hot air .

If you knew what was actually going on you'd know it has made a difference.

Do you even goto the AGM's this year for the PLC or the Co Op?

Also I think it would be best if you opened up your own thread so you can discuss milk prices there because myself and a few other users have all made numerous attempts to explain the complicated relationship between Kerry Co Op and Kerry Group PLC and you really don't seem to be able to grasp any of it.

Best of luck with your future endeavours

Ciarrai76

There is more than one moderator lads, and it is up to us to ensure that the rules of the board are being adhered to. There have been plenty of reported posts regarding this thread and its Up to us to ensure the thread is kept civil.
I suggest you familiarise yourselves with the board rules. http://www.boards.ie/vbulletin/showthread.php?t=2055167649

Mod

The Hill Billy

Kerry2016 wrote: »

I was awful disappointed yesterday that some "moderator" messaged me about this thread trying to quieten me.

BannerBarry wrote: »

...The Moderator may not like your "Davy Fitz" style or passion but he/she is not aware of the happenings and lack of information available to C shareholders in particular of Kerry Co-Op.

Admin Note: I don't care who Davy Fitz is or what is happening to C Shareholders - our moderators are here to ensure that the rules of this site are adhered to. Commenting on mod action on thread is not permitted. PM the Kerry forum Mods or Region CMods if you have an issue. End of story.

Kerry2016 wrote: »

The chairman of the Co Op board is a total fool...

...he's bitter about how much of a failure he is...

...that fool of a man, walking around the place like Mr. T from the A Team with all the gold jewellery he'd have hanging off himself

Further comments such as the above will not be tolerated in this thread.

@Kerry2016 - If you cannot discuss the topic in a civil fashion & without dishing out insults about private individuals who cannot defend themselves here - your posting privileges will be removed.

tHB

Kerry2016

Point taken moderators, if ye'd millions and millions of euros at stake here I'm sure ye'd be better able to see where I'm coming from. I'm too busy to be reading the rules and all that on yer website but I think my work here is done, I'll let the others do the discussing on this thread from now on since ye find me so offensive

this was one of the few worthwhile threads on yer little website and ye have ruined it, I hope ye are happy with having made yourselves feel important

fepper

You cant leave us now Kerry 2016,your a critical component in the thread and all the viewings are a testament to that fact

The Hill Billy

Get over yourself. It is not about mods 'feeling important'. It is about posters being civil & not posting potentially defamatory comments which could see legal proceedings being taken against you & the owners of this site.

If you can't be bothered to follow a few simple rules & stop posting insults about private individuals - maybe this site isn't for you.

If you have any further comment to make on the moderation of this thread, forum or site - PM me. Do not drag this thread further off topic.

tHB

BannerBarry

Kerry2016 wrote: »

Point taken moderators, if ye'd millions and millions of euros at stake here I'm sure ye'd be better able to see where I'm coming from. I'm too busy to be reading the rules and all that on yer website but I think my work here is done, I'll let the others do the discussing on this thread from now on since ye find me so offensive

this was one of the few worthwhile threads on yer little website and ye have ruined it, I hope ye are happy with having made yourselves feel important

Kerry2016. . Thanks for your crucial feedback...

If you start a twitter account please let us know. We will follow you posts.. I don't have your money to be sued by these lads... I'll modify my post on the Clare Manager just incase my complement on his renowned passion is too complementary that he sues me..