Dáil Éireann Debate, Thursday - 8 March 2007
81 Mr. Stanton asked the Minister for Agriculture and Food if she will use her golden share in Greencore; the circumstances under which she would use such powers; and if she will make a statement on the matter. [8816/07]
Amharc ar fhreagraAs Minister I hold a Special Share in Greencore plc. That share has the same monetary value as any other share in the company but has conditions attached which prevent the company from engaging in a number of activities without the prior written consent of the Minister. In summary, the Special Share prevents the disposal of the controlling interest in Irish Sugar Ltd, or the sale, transfer or disposal of more than 20% of specified assets, including lands and properties, of Irish Sugar Ltd in Carlow and in Mallow used in the production of sugar. It also prevents a single shareholder or group of shareholders from gaining control of Greencore plc. The Special Share does not empower me to get involved in operational matters or normal business decisions made by the company. I have had no basis for invoking the provisions attached to that Special Share to date.
