THE first of two crucial special meetings which will decide the outcome of the proposed merger between Avonmore Co-op and Waterford Co-op will be held by each group on Friday, July 11th. Both meetings will be held simultaneously, beginning at noon.

Given the number of shareholders involved - Waterford has 5,500 and Avonmore 13,000 - special venues have been arranged for the meetings.

Avonmore is holding its meeting at the O'Loughlin Gaels GAA Club premises on Hebron Road in Kilkenny, while Waterford will meet at the IDA Advance Premises at Cork Road in Waterford. Both meetings will require 75 per cent approval from shareholders who attend on the day and who vote. If there is 75 per cent approval, confirmatory meetings will be held by both co-ops on July 25th.

Failure to get 75 per cent approval will mean that the merger proposal will collapse.

The chairmen of both co-ops - Mr John Duggan of Avonmore and Mr John Dowley of Waterford - have once again urged co-op members to support the merger proposal.

There is still, however, a substantial groundswell among Waterford shareholders against the merger proposal, and sources in Waterford believe the 75 per cent vote required is balanced on a knife-edge.

Avonmore shareholders are expected to enthusiastically support the merger.

"Creating a farmer-controlled organisation capable of competing in local and international markets is essential to ensure above-average returns to our farmers into the next century," the two chairmen said in a joint statement.