Tirlán has confirmed it has sold 12 million shares in Glanbia plc, following its announcement yesterday (Thursday, June 11) that it intended to make the sale.

The sale of shares took place by way of an Equity Placement and Share Buyback at a price of €21.47 per share.

The sale resulted in proceeds of €257.6 million, Tirlán said.

Following the transaction, Tirlán holds 31.5 million shares in Glanbia, or approximately 13.2% of the issued share capital (including the related cancellation of shares).

Tirlán chairperson Ger O'Brien said that the transaction represented a step in the co-op's "longer-term journey" to have a more diversified investment portfolio, in line with the approval obtained from members at a special general meeting (SGM) in October 2024.

"It's the board's intention to re-invest the funds raised, over time, in the longer term best interests of the co-op," O'Brien said.

He added: "Importantly, we retain strong confidence in Glanbia plc's performance and future outlook, and we remain its largest shareholder.

Goodbody Stockbrokers and Rabobank, in cooperation with financial services company Kepler Cheuvreux, acted as joint global coordinators and joint bookrunners in the equity placement, which was confined to institutional investors.

Tirlán dividends

In other Tirlán news, the co-operative announced earlier this month that it has paid a total of €2.3 million to its members through a combination of share interest (dividends) and additional payments from its member distribution reserve.

More than 10,000 co-op members received the payments, representing a total return of 8.4c per co-op share.

On average, a Tirlán milk supplier shareholder will receive €244 from the combined payments.

This includes:

€1.4 million paid as an annual share interest (dividend) of 5c per share, which was approved by members at the Tirlán AGM on May 6, 2026;
A further €0.9 million, equivalent to around 3.4c per share, paid from the co-op’s member distribution reserve for shares held in 2025.

The member distribution reserve, established with member approval in December 2021, is used "at the board’s discretion" to support milk and grain prices.