Kerry Co-op agree change to transfer a 25% shareholding to Kerry Group

MEMBERS of Kerry Co-op have approved a change in shareholder regulations which is now likely to lead to the transfer of 25% of their shareholding to Kerry Group PLC.

With Kerry Group scheduled to host its quarterly shareholder meeting in Dublin this morning, stockbrokers are also predicting a lift in share price for the PLC.

At a meeting yesterday in the Brandon Hotel, Tralee, the co-op’s members effectively rubber-stamped a vote of a few weeks ago by members allowing for the regulatory changes. The vote allows the co-op’s board to lower its prior regulatory shareholding bottom threshold in the plc from 20% to 10%.