Tirlán approves spin-out of 15 million Glanbia shares worth €173m to members

Tirlán said the spin-out will be worth €16,804 to their average member

Tirlán Co-op will remain the largest individual shareholder in Glanbia with 23.7% of the issued share capital.

The board of dairy co-operative Tirlán have announced that the company has decided to spin-out 15 million shares it owns in Glanbia to its members valued at €173m.

In a statement, the board of the co-op said the decision was “overwhelmingly approved by members” at a Special General Meeting held on October 4 last year. Following the completion of the spin-out, Tirlán Co-op will remain the largest individual shareholder in Glanbia with 23.7% of the issued share capital.