Glanbia Co-op’s recent share trading scheme was the most significant to date. A total of 735,000 shares were traded, at a price of €2.88 – the largest volume of shares in any trading scheme. The price reflects the ongoing strong performance of Glanbia plc, in which the co-op holds a 40% shareholding.

Glanbia has around 16,000 shareholders in total, although only 6,400 are classed as active A1 shareholders.

Meanwhile, farmers supplying Glanbia through a group of smaller production co-ops are seeking access to the share trading scheme. As things stand, they will not receive the 0.5c/litre bonus for signing a milk supply agreement, as it is limited to Glanbia Co-op members. These farmers supply co-ops such as Oldcastle, Poles and Kill. Likewise, new entrant dairy suppliers are seeking clarification on what they need to do to qualify for the payment.

The position of Wexford Creamery is unknown, although a significant number of Wexford suppliers have Glanbia Co-op shares and may receive the payment. The issue is sure to feature at the round of Glanbia supplier meetings that commenced on Wednesday evening in Kilkenny.

Pat O’Toole