Glanbia PLC GLB Circ re. Joint Venture

  Glanbia PLC (GLB) - Circ re. Joint Venture

RNS Number : 2269Q
Glanbia PLC
02 November 2012




  Glanbia plc

Circular to Shareholders



Glanbia plc

2 November 2012





Glanbia plc





2 November 2012



  Proposed dairy processing joint venture with Glanbia Co-operative Society
                                   Limited

   - Publication of Circular and convening of Extraordinary General Meeting





On 23 October 2012, the board of Glanbia plc ("Glanbia") announced that it had
signed contracts with Glanbia Co-operative Society Limited (the "Society")  to 
enter into  a joint  venture in  respect of  Dairy Ingredients  Ireland,  (the 
"Transaction"), subject to approvals.



Under the Listing  Rules, the  Transaction is  classified as  a related  party 
transaction (as  the Society  holds a  Glanbia shareholding  of  approximately 
54.4%). As such, the transaction requires the approval of Glanbia shareholders
(other  than  the  Society  or  persons  connected  to  the  Society)  at   an 
Extraordinary General Meeting ("EGM").



A circular  is,  today, being  sent  to Glanbia  shareholders.  This  document 
provides details  of the  Transaction and  contains  a notice  of the  EGM  to 
approve the Transaction.



The EGM will be held at Lyrath Estate Hotel, Old Dublin Road (R712), Kilkenny,
Ireland at 11.00 a.m. on 20 November 2012.



The circular will  shortly be available  at www.glanbia.com/egm. To  download 
please   go   to:   http://www.glanbia.com/download/pdf/egm_circular_2012.pdf. 
Glanbia is also submitting the circular  and related notice and proxy form  to 
the UK National Storage Mechanism.  This document will therefore be  available 
for inspection at  www.morningstar.co.uk/uk/NSM. A  copy of  the circular  and 
related notice  and proxy  form is  also being  forwarded to  the Irish  Stock 
Exchange  and  will  shortly  be  available  for  inspection  at  the  Company 
Announcements Office,  Irish Stock  Exchange, 28  Anglesea Street,  Dublin  2, 
Ireland.



If the Joint Venture Transaction is approved, the Society will convene General
Meetings to approve  the reduction  of the Society's  Glanbia shareholding  to 
41.4% through a spin-out  and further sale of  Glanbia shares. These  meetings 
are to be held on 28 November 2012 and 12 December 2012.





ENDS





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