Farm Ireland

Friday 22 September 2017

WMP reject meeting call

Declan O'Brien

Declan O'Brien

An application for a special general meeting (SGM) of Wexford Milk Producers (WMP) has been rejected by the co-op's board.

Close to 60 of the co-op's shareholders had signed a written request for the SGM, exceeding the number required under the rules of WMP.

It is understood that the SGM was to discuss Strathroy's interest in purchasing Wexford Creamery, of which WMP is the controlling shareholder.

However, WMP's board ruled that since co-op had agreed the sale of Wexford Creamery to Glanbia Ingredients Ireland Limited, it would be a 'breach of contract' to enter discussions with another party.

The board also claimed the request for the meeting was not made in a correct manner.

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