2 January 2025
LEI: 635400TLVVBNXLFHWC59
KERRY GROUP
Completion of Kerry Dairy Ireland
Transaction
Kerry Group plc ("Kerry" or the "Company") 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.
Unless otherwise defined, all capitalised terms
in this announcement have the same meaning as in the Circular sent
to shareholders on 25 November 2024.
