Share transfers for Kerry deal
Published 17/08/2010 | 05:00
DESCENDENTS of around 180 deceased Newmarket Co-op shareholders have rushed to have their shares transferred ahead of a crucial vote on the €33m Kerry buyout.
Access to a shareholder information meeting, scheduled for August 25 at Meelin, Co Cork, and voting rights at the special general meeting on September 2 will be strictly limited to shareholders only.
It is believed ownership of some shares has not transferred since the 1940s and 1950s.
It is understood that the majority of Newmarket shareholders have reacted positively to the Kerry offer, which equates to an average shareholder windfall of €40,000. Around 150 active milk suppliers are to receive additional shares amounting to €2.4m based on milk supply in the 2009/2010 quota year.
Martin Ryan and