Voting on a series of related resolutions will take place at an online special general meeting (SGM) of Glanbia Co-op on Friday 17 December at 2pm.

The first two resolutions detail the intention to acquire the 40% plc share in Glanbia Ireland and to set up a member distribution reserve. Both need over 50% to pass.

The third and fourth resolutions require over two-thirds majority and detail the extent to which the shareholding in the plc goes down to permit the board to proceed with the spin-out, the investment fund and the permission to sell 4% of plc shares to fund the purchase.

If any one of the first five resolutions are rejected, then the overall transaction is rejected

The fifth resolution is a governance rules update.

If any one of the first five resolutions are rejected, then the overall transaction is rejected.

The sixth resolution is to obtain permission to pay interim share interest dividends.

We have no detail on the exact reasoning behind the Murphy resignation

The deadline to register for voting is 14 December, before the vote on 17 December

In advance of the vote, the Irish Farmers Journal understands that one member of the Glanbia council and west Waterford advisory committee, Anthony Murphy, has tendered his resignation with others said to be considering their positions.

We have no detail on the exact reasoning behind the Murphy resignation, but believe some of the reason is his unhappiness with governance issues within the organisation ahead of the proposed Glanbia deal.

It is understood Murphy has tendered his resignation in writing.

Murphy has been an active and strong Glanbia Co-op supporter down through the years.

IFA meeting

The IFA will host a webinar on the proposed Glanbia deal on Monday 13 December at 8pm, four days before the ?vote.

Jim Bergin, CEO of Glanbia Co-op, and Seán Molloy, chief agribusiness growth officer, will address the meeting.