Shareholders vote for mart merger
The purpose is to create a new regional mart structure, Central Auctions, through the merger of both marts and the integration of Roscrea mart, currently part of Glanbia.
A resounding 96% voted for the plan at the Nenagh Mart special general meeting and a strong majority of 72% were in favour at the Birr meeting.
Under the Industrial and Provident Societies Act, a special resolution to amalgamate can be passed at one general meeting of shareholders if a 75% majority or greater is obtained.
Where the majority is less than 75% but greater than 50% at the first meeting, then a second confirmatory meeting is required at which a simple majority is sufficient to pass the resolution.
Accordingly, Birr Co-operative Livestock Sales Ltd will hold this second confirmatory special general meeting of shareholders in the County Arms, Birr on Thursday, November 25 at 8pm.
Respective mart chairmen Des Dempsey (Birr) and John O’Brien (Nenagh) have welcomed the strong yes vote for their merger.
Mr Dempsey said that Birr mart was pleased with the attendance of 167 shareholders at the meeting on November 8, but it is important that every shareholder attends the second meeting as this will determine the outcome of the merger proposal.
He said that central to the proposal is the confirmation that a single management and staff structure will operate the three mart centres on a more cost-effective basis.
Mr Dempsey said the merger proposal would ensure continuity of a quality service to members and farmers and reinforce shareholder value and control for the Birr mart and other shareholders in the new regional mart society.
He said the merger would deliver solid benefits to all shareholders and farmers in Birr, Nenagh and Roscrea mart areas and called upon all members of Birr to support the proposals.
