Payment for shares will be flexible, says Co-Op

Dairygold Co-Op’s board will give due consideration to any individuals who are struggling to share-up, that part of their revolving fund contributions could be viewed as a payment towards shares, says the Co-Op’s chairman Bertie O’Leary.

He says around 1,200 of the Co-Op’s 3,100 suppliers will have to buy shares to bring their holding in line with their milk output.

“If a young farmer comes in to Jim Woulfe and says he cannot share up this year, Jim will bring it to the board, who will use their common sense,” said Mr O’Leary. “They may extend the period in which he has to share up. If the supplier can’t pay this year because he has a genuine case, then he can pay using year one of the revolving fund.