Tirlán confirms €173 million share spin-out to 11,000 Members
Over 11,000 Tirlán Co-op Members will benefit from a spin-out of €173 million worth of Glanbia plc shares, the Co-op has confirmed
The Board of Tirlán Co-operative Society Limited (“Tirlán Co-op”), Ireland’s leading food and nutrition co-operative, has today approved the distribution of 15 million Glanbia plc shares to Co-op Members. Based on a Glanbia plc closing share price of €11.51 on Friday 9 May 2025, this will be worth approximately €5,156* for every 1,000 shares that a Member holds in Tirlán Co-op, or over €16,804* to an average active Tirlán Co-op Member.
The spin-out was overwhelmingly approved by Members of Tirlán Co-operative Society Limited (the "Society”) at a Special General Meeting held on 4 October 2024. Following the completion of the spin-out, Tirlán Co-op will remain the largest individual shareholder in Glanbia plc, with 23.7% of the issued share capital.
Tirlán Chairperson John Murphy said that the Co-op Board was pleased to be in a position to return value to Members.
“It is important that we return value to our 11,000 our farm family Members, many of whom have invested in their farm businesses and have built our organisation into the world-class business that it is today. This latest distribution of value brings the total number of shares spun-out to over 63.5 million with a current value of over €731 million*.”
The following are examples of the value of the spin-out to Tirlán Co-op members.
| Number of Tirlán Co-op shares held | 1,000 | 3,000 |
| Glanbia Plc shares received as part of spin-out | 448 | 1,340 |
| Value of plc shares received* | €5,156 | €15,423 |
| Co-op shares cancelled on spin-out | 107 | 320 |
| Co-op shares held post spin-out | 893 | 2,680 |
*Based on the Glanbia plc closing share price of €11.51 on 9 May 2025.
A detailed information pack, including details of individual plc share allocations, will be issued to Co-op Members in the coming weeks. Following a regulatory change, Irish public limited companies, including Glanbia Plc, are no longer issuing physical share certificates. This process, known as “dematerialisation”, means that the shareholding is recorded electronically by Glanbia’s share registrar, Computershare Investor Services (Ireland) Limited, and not by way of a paper certificate. Members will shortly receive a communication from Glanbia and Computershare, which will include guidance on how to access their Glanbia plc shareholder information.
*Based on the Glanbia plc closing share price of €11.51 on 9 May 2025.