Vote on Glanbia Co-Op to go ahead

Tuesday 11 December 2012 17.18
Some questions were raised about how a previous vote was managed
Some questions were raised about how a previous vote was managed

Food and milk company Glanbia has said tomorrow’s vote to conclude the reorganisation of the Glanbia Co-Op will go ahead as planned.

Questions were raised over the past few days regarding how a vote two weeks ago was managed, and also who was eligible to vote.

The vote at the Glanbia Special General Meeting in Gowran Park on 28 November was conducted by the Irish Co-Op Society or ICOS, who say every effort was made to ensure an accurate procedure.

A spokesperson said consideration was given by the Returning Officer and the scrutineers for some degree of human error and minor differences from one stage to the next are not unusual.

A total of 4,681 ballots were cast of which 2,866 were "milk shareholder" votes.

There was a difference between the number of admission cards registered and the number of ballots counted.

In the case of the overall vote, ICOS said this amounted to 32 additional ballots; while in the case of the "milk shareholders vote" this amounted to 20 additional ballots.

ICOS said in the case of the closer of the two votes, the "milk shareholders" vote, even if the "worst case" assumption was made that all 20 ballots were Yes votes and were deducted from the count, the difference would still have had to have been at least three times greater than it was to have had any impact on the vote outcome.

Twelve independently appointed scrutineers were present at all stages of the balloting and counting process and the matter of the discrepancy was explained to them in the presence of solicitors.

Provided a proper, secure system has been established and observed for the process as a whole, and the Returning Officer and scrutineers are satisfied that the count itself was properly and accurately carried out, the result, ICOS said, is valid.

The group added that the Returning Officer and all of the scrutineers were satisfied that the count itself was properly carried out and that the result was valid.

On the second issue of who was entitled to vote, ICOS said that is a matter for Glanbia.

A spokesperson for Glanbia told RTÉ this afternoon that in relation to questions posed regarding the rules and what are known as "A2 members", Glanbia says that in the vote a fortnight ago the members voted validly in favour of the Share Spin Out and Sale Resolution, adding that they are urging all members to turn out to vote again tomorrow.

Keywords: glanbia