Why I’m voting Yes in the SGM

“I’m voting. I believe that when you are given a vote and a voice you should use it. I feel it’s very important that Co-op Members vote.

“I believe that the rule change is a very good idea. In 2022, when we bought out Glanbia plc, our investment in Glanbia became just that, an investment.

“I firmly believe it is not a good idea to have all your shares in one stock. People who bought bank shares back in the noughties know only too well what I’m talking about.

“If the Board, with the help of experts, can find better places to invest our money that will give higher returns, then I feel they have an obligation to do so. I like to see the Co-op be proactive and progressive on that front. We want to deliver more for our farmers to ensure they receive solid and sustainable incomes.

Next Generation

“Hopefully the dividends and yields from these investments will allow farmers to remain economically viable and maybe convince the next generation that there is a good and solid future for them in farming.

 “We have all been given, inherited or bought our farms from the generation that came before. We want to make sure we have a strong Co-op and sustainable farming livelihoods for the generations to come. My son Cathal is studying in college and helps out on the farm at weekends.

“I don’t have concerns about giving the Board the right to find investment opportunities for us. Tirlan is a 3 billion euro business and we trust them, Board and Management, to run it for us. Since 2022, they’ve had a pot of 150 million to invest if they saw fit, but because of strict financial discipline and proper due diligence have decided not to do so.

“There will always be an element of risk but hopefully it will give a good return to help with milk and grain prices in the future and to make sure that younger farmers have a viable future. We’ve seen it done very successfully with the West Cork Co-op’s.

“I also feel the spin-out is coming at a good time for farmers as it’s been a tough couple of years for all. It’s difficult to find a balance between giving older members value for their work over the years and retaining money in the Co-op for the future. They say, a good compromise leaves nobody happy, but I think they’ve got it pretty right here.”

First Published 1 October 2024