TOWN OF MONAGHAN CO-OP SHAREHOLDERS ENDORSE PROPOSED MERGER WITH BALLYRASHANE

2 July 2015 No Comments by The Northern Standard

Michael Fisher

The proposed merger of Town of Monaghan Co-Op and Ballyrashane Co-Op in North Antrim has been strongly endorsed by shareholders of both Societies. There will now be a three weeks cooling-off period before the plans are put before the members again for formal approval. Both chief executives said afterwards there had been very good turnouts at the two shareholder meetings on Tuesday night in Monaghan and Ballyrashane. They said it was clear there was a resounding acceptance of the strategic fit between the two co-ops and that a merger would enable them to do things together that they could not do alone.

This development is one of the most important chapters in the history of the Co-Op since its foundation as the Town of Monaghan Co-operative and Dairy Society Ltd in 1901. Around 350 people packed into the Four Seasons Hotel in Monaghan on Tuesday. Of these, 263 were shareholders eligible to vote on the resolutions at the Special General Meeting.

At the start, the Chief Executive Officer Gabriel D’Arcy, who was appointed to the post last year, outlined his and the Board’s vision for the Co-op as it trades in an international market and following the abolition of EU milk quotas in April. He spoke about the crucial ….

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