Kerry Group plc is pleased to announce that Phase 1 of its disposal of Kerry Dairy Holdings (Ireland) Limited (“Kerry Dairy Ireland”) to Kerry Co-Operative Creameries Limited (the “Co-Op”) completed on 31 December 2024. Commenting on the completion, Edmond Scanlon, Chief Executive Officer of Kerry Group said: “today marks a significant step in Kerry’s history, becoming a pure play global business to business taste and nutrition company, with sustainable nutrition at its core, while also supporting our financial objectives of continued market outperformance, strong margin progression, and delivering greater returns for our shareholders. I would like to recognise the Kerry Dairy Ireland employees for their contribution to Kerry over the years and wish them the very best in the future.”
Phase 1 Completion Details
Arising from the implementation of the steps described in the circular sent to shareholders on 25 November 2024 (the “Circular”), the Company, on 31 December 2024, redeemed and cancelled the Co-Op’s entire shareholding of 19,045,396 A Ordinary Shares and the Company issued a total of 16,187,024 A Ordinary Shares (the “New Shares”) to the Co-Op Members and to satisfy fractional share entitlements.
As a result, the Company’s issued share capital reduced by 2,858,372 shares, to a total of 166,440,652 A Ordinary Shares as at 31 December 2024. The Company has no treasury shares in issue. Therefore, the total number of voting rights in the Company is 166,440,652.
This total voting rights figure may be used by shareholders as the denominator for calculating whether they are required to notify their interest in, or a change to their interest in, Kerry Group plc under the Transparency (Directive 2004/109/EC) Regulations 2007 (as amended) and the Central Bank (Investment Market Conduct) Rules.
An application has been made to Euronext Dublin, the FCA and the London Stock Exchange for the New Shares to be: (i) admitted to listing on the Official List of Euronext Dublin and the equity shares (commercial companies) segment of the Official List of the FCA and (ii) admitted to trading on the regulated market of Euronext Dublin and the London Stock Exchange’s main market for listed securities. The New Shares will rank pari passu in all respects with the Company’s existing A Ordinary Shares. It is expected that admission will become effective and dealings will commence in the New Shares on 3 January 2025.
