Glanbia spinout 2021/2

Lads need to vote it down, if only to get the plc to lower the asking price, after their messing with the peak supply issues, and the fact I wouldn't believe for a second they will return a better milk price, way to much bloat and high paid lads doing sweet f**k-all throughout the co-op, pension liabilities going forward are more then likely eye-watering aswell, that the plc will be glad to wash their hands off.....

What's the scenario where the new plant if it goes ahead re funding it and ownership, the share spinout is buttons to be honest at 10k, will buy you 10 ton of urea at present if you could source it, it really isn't enough of a carrot

All that lads need to remember is that it's mostly the same board members that championed the joint-venture are again pushing this, the only thing is this time, the few prominent cheerleaders that gave great speeches at the last vote have now waken-up and realised they where had, the sheer economics of glanbia been 1-2 cent behind on milk price yearly compared to other co-ops has left alot of us down 6 figure sums of cash when it's all added up since the joint venture started, 11k spinout is buttons in the grand scheme of things

Plc want rid of the low margin capital intensive part of the business namely the milk processing. Value has been extracted? Is now in the form of the plc and its this generation of farmers left with what remains

If this went thru and farmers don't sell whatever remaining plc shares they have after conversion how much of the plc would farmers own?

was against the original spin out and im against this one two, it overvalued and it wouldnt make any difference to milk/grain price

danone had to write down 50% of nigerian exglanbia arm due to overpaying glanbia due to crazy valuation

the whole management team and board took their eye off the ball and made a mess of supply issues as a result of poor planning for new cheese factory, it seems they seem to spend to much time worrying about how to extract as much cash for them selves instead of concentrating on running the business

with current high prices we have mountains in stores i couldnt figure out how they were returning such a good price but it makes sense now....butter me up more please

the coop want to take out a loan to purchase 50% of glanbia ireland....why would we do this??? interest rates going to go up!!!

if were about to stand still re milk growth due to enviromental and processing issues...ie no growth....and plc is expecting 8-12% expected growth on a consistant basis YEARLY then why not hold plc shares into the future and buy back irish processing when glanbia hit the 25-30 a share....whats the hurry,

Sale price looks to be at circa. 10 times earning for the PLC's 40% share. GII have being paying farmers roughly €0.01c/l less than other coops, On 3 billion litres that adds up to €30 million Euro, 40% (PLC share) of this is €12 million and multiply this x 10 (Sale price is roughly 10 times earnings) gives €120 million. So is the sales price over inflated to the tune of €120 million?

Talking to a few farmers locally over past few days and not one of them intend to vote yes. They see absolutely no benefit in this.

think the co op might have underestimated this one

the coop has a good asset in glanbia plc shares, good dividend, our grandfathers worked hard to create this model where in bad years we have an alternative source of income for farmers on the ground, why is it being destroyed?

do they see no further growth prospects for glabia plc? if so sell it all.....but thats hardly the case siobhan is staying on in plc:)

if glanbia plc want rid of the business then why not let a european dairy come in as our 40% sharholder if they have route to eu market which we dont seem to currently have half our product is sold outside the block, but they will come in as a 40% shareholder and we have 60% so we have control no matter what happens were now used to giving out a share of profits and have one of the highest ebita in europe so we'd be an excellent partner, lets keep the shares in glanbia clear the coop debt

how long before glanbia plc leaves ireland is now the question, enjoy those nice jobs in kilkenny

unlock value = pure greed

a big question will be how many farmers borrowed to buy coop shares i know of one who did and i really annoy him with my talk of holding all coop shares in plc and never selling, hes sweating buckets, dangerous gambling on the grey market but if it goes through hell be farming in an italian suit

Listening in on the virtual meeting,it's a sheer waste of time, questions been asked like future pension liabilities which are simply been fobbed off as been taken account of, and no figures our numbers been put on it, I wouldn't trust anyone in the panel to remotely have the farmers best interests at heart, its simply impossible given the conflict of interests that the top lads very much walk to Siobhans tune

Didn't they row back from selling shares to fund the deal?

When is the vote happening?

the whole thing is very confusing and seems very rushed with very little detail esp for a 300million deal

why was the original purchase not based on a multiple of PAT??

its a 2billion business with no in house finance or IT, they want to use the plc's going forward?? sounds like mickey mouse stuff

they can sell whey to anyone just no one in US.....if we have no conncetion to the plc why would we agree to that

they will have no inhouse finance team but they want an investment fund of 148m to go investing if something pops up...seriously lads....we want to have the next warren buffet at the top table able to size these things up....!!!

no idea of marketing cost of change of name??? jesus wept!!

if plc is expected to grow at 8% a year, and we are going to grow at 3% at a push with enviro and processing constraints going forward why would we sell now??? whats the rush.....

one minute they are out in the press saying the coop will buy GI without shares if need be and in the form it has it if we dont pass the sale of shares none of it goes through....do they know what they are at??

im a no to selling the plc shares so i suppose im a no to it all even though i agree to independant directors, a lot of support for it around, prefer to see a strong coop with a good plc dividend, that was aim off coop originally these share spin outs have messed up the coop ethos in glanbia

elephant in the room is only half the members of coop active, need to address this before they sell all the shares in plc otherwise dry sharholders will get a few more spin outs and then nothing further ever to spin out

belview has been a disaster in terms of baby production, a cheese factory should have been built....i hope 148m is not given to same management team for future investment, the second project they have undertaken isnt going to plan either....poor track record....id like to see those two projects prove themselves first

Maybe their hoping with the ads that it will get dormant suppliers to vote

Cannot see any benefits to the proposal.

why would you sell shares in the profitable growth part of the business and take ownership of the low margin business.

one question what can the co op do if the deal goes through that they can’t do today.

I have yet to hear one thing of substance that they can do if they are a 100% co op

no the plc own that .....dont ask me how

Absolute madness if the coop will have its hands tied regarding where or to whom it can sell its product..

If the co-op suddenly finds itself saddled with financing the buyout from borrowings and then the aware palnt aswell, if it goes through, that's circa 300 odd million of fresh debt, that's going to be paid by the cow, another sidebar re fertiliser prices etc, would it not be prudent to keep any rainy day money to get suppliers over the spring, extend credit etc then financing this deal....

Cheap money is going to be a thing of the past very shortly if china implodes like is been flagged, if the co-op can lock in fixed rates well and good, but if its variable, the sh**t will hit the fan...

its udder madness

we cant sell whey protein in america (96%of ingredients is our whey they add in 4% minerals and charge a whopping premium) or we cant sell our own butter in america as the PLC owns the truley grass fed brand and we cant compete with a customer.....how our management team allowed this is beyond me..suppose to be a clean break but its like a divorse with a heap of conditions....there is a good reson we get paid such a poor milk price and its been dirty antics like this out of the PLC....hope the pension funds take note

jim doesnt seem to be able to stand up for us in these senarios....or doesnt have the vision to create the truley grass fed instead of giving the plc the huge margin and riding the suppliers, he is not the man who should be running both our coop and GI

its a bit of a dirty one siobhan and jim pulled on oranua......its not us the coop or GI selling the truley grass fed brand its the plc so nothing to do with us "they are a customer just like oranua", they think they are smarter than the rest....but they are peddling the bike backwards with annoncement the coop will buy GI without shares...now they will do share buyback.....chairman thinks time is right to sell.....not good for future prospect of plc if he thinks we should sell now....hope is time is up if this fails

White lies re not using shares for purchase on latest information meeting they'll either be sold next year our used as collateral for borrowings, he's lying through his teeth trying to get this over the line, just look at how they hoodwinked liquid milk suppliers who took up the scheme to exit, and didn't receive anything like what was talked about compensation wise, the share buy scheme is serious messing to, and now you realise they had this all mapped out years ago before they announced the split up