The result of the ballot, conducted independently by the Irish Co-operative Organisation Society (ICOS), was announced after 5,931 farmers cast their votes yesterday- representing a historically high 77% turnout.
Completion of the joint venture (Society 60% : plc 40%) which plans to invest €180m in new and enhanced milk processing facilities is conditional on approval by way of an ordinary resolution of Glanbia plc shareholders (excluding the Society,) at an Extraordinary General meeting (EGM) of Glanbia plc scheduled for 20 November.
Subject to approval at the EGM, the joint venture will be operational from 25 November 2012.
Source: Glanbia
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