Kerry Co-op chair says special general meeting will be held

The chair of Kerry Co-op says he expects that the organisation will hold a special general meeting in June.

A number of shareholders, who have concerns over the co-op’s plans for a joint venture with Kerry Group, want a vote on a share redemption scheme.

Co-op chair Denis Carroll, has written to shareholders stating that he envisages that a special general meeting, relating to the scheme, will be held in conjunction with Kerry Co-op’s AGM on June 21st.

He says the co-op’s legal advisors and the Irish Co-operative Society are working on a proposed resolution to address the matter.

Mr Carroll says the board won’t make any fundamental decisions without the prior approval of shareholders.