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Two resolutions for Kerry Co-op SGM

Oct 27, 2021 17:10 By radiokerrynews
Two resolutions for Kerry Co-op SGM Two resolutions for Kerry Co-op SGM
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Two resolutions are to be put forward to shareholders at a Special General Meeting of Kerry Co-Op.

However, a date for that meeting has not yet been set.

The first resolution is to add the Share Redemption Scheme to the Kerry Co-op rule book; it means Kerry Group plc shares held by the co-op will be ringfenced for redemption through this or future schemes. These shares will be used to fund the redemption scheme.

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The second proposed change relates to milk suppliers. The resolution, if passed, would reinstate 'A' category status of these shareholders, who supply milk through a company.

The majority of Kerry Co-op Advisory Committee members want the Special General Meeting to consider these resolutions to be held in person.

As Kerry Group plc employees are returning to the office on a phased basis due to the pandemic, sufficient staff numbers are not available to facilitate registration and verification at the SGM.

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As a result, no fixed date has been set, which Kerry Co-op Chief Executive, Thomas Hunter McGowan said is disappointing; he added they will await further guidance from the Government on the return to office protocol and update shareholders then.

 

 

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