date:Dec 03, 2012
Ireland-based Glanbia Co-op Society's shareholders have approved a proposal to reduce its holding in nutritional products and cheese company Glanbia to below 50% in the first of two votes that would increase the group's free float significantly.
The holding will be reduced in the company from the current 51.4% to 41.4%.
Around 82% of the shareholders voted in favour of the proposal that was announced in August this year.
Another round of voting is, however, required for the proposal to take o