Glanbia share deadline looms
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.