Tirlán Member FAQ: How the Glanbia plc Share Spin-Out Affects You
In May 2025, Tirlán Co-operative Society completed the distribution, or “Spin-Out,” of approximately 15 million Glanbia plc shares to over 11,000 eligible Members. This distribution of value, approved by Members at a Special General Meeting in October 2024, reflects the Society’s continued commitment to recognising Member investment and supporting farm families. Each Member received Glanbia plc shares based on their Tirlán Co-op shareholding, while a portion of their Co-op shares were proportionately cancelled to maintain equal ownership levels across the Society. Tirlán has distributed significant value to Co-op members through Glanbia plc share spin outs in 2013, 2015, 2017, 2022 and 2025.
In relation to the 2025 spin-out, Co op Members should receive two letters in May/June:
- Letter from Tirlán Co-operative Society, which includes details of the Member’s allocation of Glanbia plc shares and the number of Co-op shares being cancelled in the spin-out process;
- Letter from Computershare on behalf of Glanbia plc, which will include a Shareholder Reference Number (SRN) and details on how to access the Investor Centre.
To support Members in understanding and managing their new shareholding in Glanbia plc, the following Frequently Asked Questions (FAQ) table provides clear and practical guidance. It covers key details such as how to access your shares via the Computershare Investor Centre, what the Spin-Out means for your Co-op and Glanbia plc shareholdings, taxation considerations, and how to sell shares if you wish.
It is important to note that Tirlán cannot offer investment advice, so Members are encouraged to speak to a qualified professional adviser before making financial decisions.
Frequently Asked Questions
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Question |
Answer |
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What is the Glanbia plc share Spin-Out? |
The Spin-Out is a distribution of approximately 15 million Glanbia plc shares by Tirlán Co-op to its Members. It was approved by Members in October 2024 and completed in May 2025. The shares were allocated based on Members’ Tirlán Co-op shareholdings, with a portion of Co-op shares cancelled on a pro-rata basis. |
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What is the value of the Spin-Out to Members? |
Based on the Glanbia plc closing share price of €11.51 on 9 May 2025, the Spin-Out was worth €173 million in total. For example, Members with 1,000 Co-op shares received Glanbia plc shares valued at approximately €5,156. |
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Was there a change to the percentage shareholding in Tirlán Co-op for Members after the Spin-Out? |
No, the cancellation of Tirlán shares was on a pro-rata basis, so each Member’s percentage ownership of the Co-op remains the same. |
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Why were some of my Tirlán Co-op shares cancelled? |
A proportion of each Member’s Co-op shares was cancelled on 12 May 2025 so that everyone retained the same percentage ownership in the Society. This process was verified independently by PwC. The reason for the cancellation of Co-op shares is that the Spin-Out process (known as a “share for share exchange”) results in you receiving shares in Glanbia plc in return for shares which you held in Tirlán Co-op being cancelled. |
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When will I receive my Glanbia plc shares? |
The Spin-Out is complete. You should have received a letter from the Co-op in May 2025 confirming the transfer. The shares are available to view electronically via the Computershare Investor Centre. |
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How can I access my Glanbia plc shares? |
Your shares are now held electronically. You must register on www.investorcentre.com/ie to view your Glanbia plc shareholding. You'll need your Shareholder Reference Number (SRN), your surname, email address, and to select “Glanbia plc” during sign-up. |
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Where can I find my SRN? |
Your SRN is included in the shareholder pack issued in a letter from Computershare on behalf of Glanbia plc after the Spin-Out. If you've received shares for the first time, this is likely your only SRN. If you've misplaced your pack, you can call Computershare on (01) 247 5349. |
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What if I have more than one SRN? |
You only need one SRN to register. If you hold shares under multiple SRNs, you can later link those accounts within the Investor Centre platform. |
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Are paper share certificates still valid for Glanbia plc? |
While physical certificates are no longer valid as proof of ownership, the number of shares you held in Glanbia plc before the Spin-Out has not changed. |
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What is Dematerialisation and how does it affect me? |
As of 1 January 2025, Glanbia plc no longer issues paper share certificates. Your shares are recorded electronically with Computershare. You must now use an online account or contact Computershare for any shareholding queries. |
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How can shareholders access or manage their Glanbia plc shareholding? |
By registering on Computershare’s Investor Centre at www.investorcentre.com/ie. |
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How do I ensure that any future Glanbia plc dividends are paid into my bank account> |
The Glanbia plc share register is managed and maintained by Computershare Investor Services (Ireland) Limited. It is important you advise Computershare how you want to receive communications, including annual reports, dividend information and shareholder circulars, in the future, by registering online at www.investorcentre.com/ie You can also use Investor Centre to notify Computershare of your bank account to receive any future dividend payments. |
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I’m not tech-savvy or don’t have internet access — what should I do? |
You can contact Computershare directly by phone at (01) 247 5349. They can help confirm your balance and provide further instructions. |
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Do I have to pay tax when I receive my Glanbia plc shares? |
There is no income or capital gains tax due when you receive your Spin-Out shares. However, if you later sell or transfer your shares, a tax liability may arise. You should seek independent tax advice from a qualified professional. |
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Who paid the stamp duty on the share transfer? |
Tirlán paid the stamp duty for all Members. For shareholders receiving over €1,000 worth of shares, the Co-op will recover the cost from the 2025 dividend. No charge applies for an individual who received Glanbia plc shares worth under €1,000. |
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Can I set up my Computershare account over the phone? |
No. The registration must be completed online. However, if you're having difficulties, you can call Computershare for guidance. Once registered, you may receive an activation code by post to complete the setup. |
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Does Tirlán offer a service to sell Glanbia plc shares? |
No |
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Does Tirlán recommend or endorse any particular stockbroker? |
If you wish to sell any shares in any publicly listed company, including Glanbia plc, you must open an account with a registered stockbroker. Tirlán cannot advise which stockbroker you might use and you will need to conduct your own research into various stockbrokers’ services and related fees or commissions. |
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Can I sell my Glanbia plc shares through Computershare? |
No. Computershare records your shareholding but does not facilitate share sales. To sell your shares, you must open an account with a registered stockbroker. |
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Will there be guidance on how to sell shares? |
Tirlán cannot offer investment advice, so Members are encouraged to speak to a qualified professional before making financial decisions. |
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What should I do if I am thinking of selling my Glanbia plc shares? |
Before deciding whether or not to deal in Glanbia plc shares you are strongly recommended to seek independent advice from your stockbroker, lawyer, accountant, tax adviser and/or other professional adviser who is authorised for the purpose of giving such advice. Neither Glanbia plc nor Tirlán Co-operative Society Limited is making any recommendation or giving any advice as to whether you should deal in your Glanbia plc shares. Should you decide to sell your Glanbia plc shares, you may do so through a regulated stockbroker. Any stockbroker regulated by the Central Bank of Ireland and/or the UK Financial Conduct Authority should have the capability to trade in Glanbia plc shares on your behalf once you have opened an account with them. |
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What do I need once I have set up an account with a Stockbroker? |
Please note that you will require a statement of your holding to sell your shares. If for any reason you are unable to register with the Investor Centre, you may contact Computershare to obtain a confirmation of your up-to-date share balance. |
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What if a stockbroker contacts me? |
It is important to check the regulatory status of any broker before engaging with them. You can verify if a firm is authorized by the Central Bank of Ireland through their website or by contacting them directly. Please exercise extreme caution if you receive an unsolicited call from a person claiming to be offering a service for trading in Glanbia plc shares. |
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Where can I get further help? |
For queries in relation to Glanbia plc shares, contact Computershare on (01) 247 5349. For questions related to the Spin-Out and Co-op Shareholding queries, contact the Tirlán Society Shares Office at (058) 44444. You can also read more https://www.glanbia.com/investors/shareholder-centre/manage-your-shareholding |