The current trading scheme for shares in Farmer Business Developments, which opened on 10 July, is set to close on 10 September. For shareholders wishing to take part in the sale, that deadline is now quite tight as the sales are not taking place on a normal stock market.

In order to sell shares, shareholders must have their share certificates and send them to the dedicated broker. Missing share certificates can be replaced by the company’s share registrar, MUFG, based in Dublin. Those certificates must be with the broker, based on the Isle of Man, in time for the trading event on 10 September. Those wishing to sell shares must say how many shares they wish to sell, and what is the minimum price they are willing to accept.

Anyone wishing to buy shares at that event must be an approved farmer investor. A notice published on the Farmer Business Developments website says that to be approved, applicants must be both farming members of the IFA and farming customers of FBD Insurance plc for a minimum of three years in each case at the time of application.

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Once approved, a new farmer investor can both buy shares privately and take part in any share trading scheme. Applications to become a farmer investor can be downloaded from the Farmer Business Developments plc website, and could be turned around in time for the current trading event if they are lodged in the coming days.

Those wishing to purchase shares will have to lodge their bid, with the number of shares they want to purchase and the maximum price they will pay with the Isle of Man based broker. Any unused funds in the wake of the trading event can be returned to the investor.

Depending on the number of shares offered for sale, and the number of offers to buy, participants may not get all the shares they want, or may not sell all the shares they wish. The Irish Farmers Journal understands that there has been considerably more interest from buyers than sellers at the trading event so far. There are approximately three shares wanted for every two offered for sale to date.

If this trend continues, it should give a lift to the price that the shares will eventually trade at when the event closes on 10 September. That price is currently guiding around €2.82 per share.

Farmer Business Developments owns of the FBD Hotels and Resorts group as well as an almost 24% stake in FBD Insurance plc and other property and financial investments. The current share trading scheme is the first undertaken by the company since 2023.

The Irish Farmers Journal understands that if the current event is deemed a success, then it could potentially become an annual fixture for trading the company’s shares.