Glan­bia share dead­line looms

Irish Independent - Farming - - NEWS -

GLAN­BIA CO-OP share­hold­ers wish­ing to avail of the busi­ness’s share trad­ing pro­gramme must have their applications sub­mit­ted by this Fri­day (De­cem­ber 7).

Glan­bia Co-op has writ­ten to mem­bers with de­tails of the vol­un­tary 2018 Share Trad­ing Pro­gramme. Un­der the pro­gramme, co-op shares will be ex­changed at a fixed price of €5 per share.

Only ex­ist­ing A1 mem­bers of Glan­bia Co-op will be en­ti­tled to pur­chase shares. A1 share­hold­ers are mainly milk and grain sup­pli­ers to Glan­bia, or dry­s­tock farmers who are buy­ing sig­nif­i­cant in­puts from the busi­ness.

In the event of over­sub­scrip­tion for the re­dis­tributed shares, Glan­bia has stated that pri­or­ity will be given to those A1 mem­bers with low share­hold­ings.

Glan­bia Co-op is Ire­land’s largest and most valu­able co-op­er­a­tive, with over 11,500 mem­bers and as­sets of ap­prox­i­mately €1.4bn.

The co-op is the largest in­di­vid­ual share­holder in Glan­bia plc, own­ing ap­prox­i­mately 31.5pc of its is­sued share cap­i­tal. The co-op also owns a 60pc share­hold­ing in Glan­bia Ire­land DAC.

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