Special meeting of Kerry Co-op may be held within two months to discuss spinning out shares

A special general meeting of Kerry Co-Op may held in two months to consider the possible spinning out of shares.

Kerry Co-Op is the largest shareholder in Kerry Group plc with a 13.7% stake worth an estimated 2.2 billion euro; yesterday around 600 people attended the co-op AGM in the Brandon Hotel.

The meeting heard critical views of proposals to transfer share voting rights as well as a plan for the co-op to get into the milk processing and agribusiness markets.

Chairman of the board Mundy Hayes assured the meeting views expressed would be taken on board.

The views of A and B shareholders on the future strategic direction of the co-op will be sought in the coming weeks.

Kerry Co-Op shareholder and farmer Patrick Scanlan said the mood was militant against the board and people expressed how they wanted their shares spun out: