Kerry Co-op meetings to discuss equity redemption scheme

Meetings to discuss plans by Kerry Co-op to allow shareholders cash in their shares are taking place tonight and tomorrow.

The co-op board approved an equity redemption scheme for members.

Kerry Co-op is holding a meeting in the South Court Hotel, Limerick tonight at 8 o’clock and a second meeting will take place in the Ballyroe Heights Hotel, Tralee tomorrow night.

The Kerry Co-op Suppliers’ and Shareholders’ Alliance says the redemption scheme would result in high tax bills for members.

Shareholders with voting rights are due to vote on the scheme on June 19th.