Key Developments: Glanbia PLC (GLAPF.PK)
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20 Nov 2012
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Latest Key Developments (Source: Significant Developments)
Glanbia PLC Announces Senior Management Changes
Glanbia PLC announced that John Moloney, Group Managing Director, has notified the Board that he wishes to retire from this role and from the Board by the end of 2013, having been due to retire in 2014. Siobhán Talbot, Group Finance Director, has been appointed as John Moloney's successor. She will become Group Managing Director Designate from June 1, 2013 to ensure a smooth transition of the leadership of the Group. Glanbia will announce the appointment of a new Group Finance Director in due course. Full Article
Glanbia PLC Recommends Final Dividend
Glanbia PLC announced that the Board has recommended a final dividend of 5.43 cents per share, bringing the total dividend for the year to 9.09 cents per share, representing an increase of 10%. Full Article
Glanbia PLC Announces New Irish Dairy Processing Joint Venture With Glanbia Co-operative Society Limited
Glanbia PLC announced that a non-binding Memorandum of Understanding has been signed with its majority shareholder, Glanbia Co-operative Society Limited, subject to contract and approvals, to enter into a 40%:60% joint venture in respect of Dairy Ingredients Ireland. Separately, but related to the joint venture, the Society has announced that it intends to seek Society member approval to reduce its shareholding in Glanbia to 41.4%. The proposed joint venture incorporates the business and assets of Dairy Ingredients Ireland (DII), a business unit of the Dairy Ireland division of Glanbia, including its 45% share of the Corman Miloko Ireland JV and its 23% shareholding in the Irish Dairy Board. Under the proposed transaction, the new joint venture, to be known as Glanbia Ingredients Ireland (GII) will be 60% owned by the Society and 40% owned by Glanbia. The business, net fixed assets, working capital and liabilities of DII will be transferred to the joint venture, which will also assume the relevant pension obligations of DII. Separately, but related to the joint venture transaction, the Society has announced that it is seeking approval from its members to reduce its shareholding in Glanbia to below 51%. Subject to approval, the Society will dispose of shares equal to 3% of the issued share capital of Glanbia and distribute a further 7% of the share capital to Society members. This will result in a reduction in the Society's shareholding in Glanbia from 51.4% to 41.4%. Full Article
Glanbia PLC Recommends Half Year Dividend
Glanbia PLC announced that the board is recommending a half year dividend of 3.66 cents per share (HY 2011: 3.33 cents per share) an increase of 10%. Dividends will be paid on October 19, 2012 to shareholders on the register of members as at September 7, 2012. Full Article
Glanbia PLC Raises FY 2012 EPS Guidance
Glanbia plc reiterated its fiscal 2012, it expects adjusted earnings per share (EPS) growth forecast of 8% to 10%, on a constant currency basis. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report EPS of $0.21 for fiscal 2012. Full Article
Glanbia PLC Acquires Aseptic Solutions Inc For $60 Million
Glanbia PLC announced that it has acquired Aseptic Solutions Inc USA, for a total consideration of [$60 million] (Euro50 million). ASI was founded in 2004 and is a manufacturer and co-packer of nutritional and dietary beverages including vitamin shots, protein shakes and 100% natural fruit juices. Full Article
Glanbia plc Recommends Dividend; Raises FY 2011 Adjusted EPS Guidance
Glanbia plc announced that the Board is recommending a half year dividend of EUR0.0333 per share (HY2010: EUR0.0303 per share), an increase of 10%. Dividends will be paid on October 14, 2011, to shareholders on the register of members as at September 2, 2011. Glanbia plc also announced that fiscal 2011 outlook upgraded to 18% to 20% expected growth in adjusted earnings per share. . Full Article
Glanbia plc Comments On H1 2011 Guidance; Reaffirms FY 2011 Adjusted EPS Guidance
Glanbia plc announced that it expects to deliver a strong overall first half for 2011, and restates the fiscal 2011 adjusted EPS guidance of 11%-13% growth, on a constant currency basis. Full Article
Glanbia appoints finance chief as new CEO
DUBLIN, May 21 - The chief executive of Irish foods group Glanbia John Moloney is to retire after 12 years, a year earlier than planned, and will be replaced by finance director Siobhan Talbot, the company said on Tuesday.
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