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Glacial Lakes Corn Processors


Trading Status: Active
Web Site: www.glaciallakesenergy.com
SEC Filing: No
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Glacial Lakes Corn Processors Logo
Current Postings for GLCP (Original)
Match History for for GLCP (Original)
Current Postings for GLCP (New Share)
Match History for for GLCP (New Share)
Current Postings for GLCP (Commercial)
Match History for for GLCP (Commercial)

Glacial Lakes Corn Processors (GLCP) is a South Dakota cooperative comprised of over 4,100 members. Through its wholly-owned subsidiaries Glacial Lakes Energy, LLC and Aberdeen Energy, LLC, GLCP owns and operates 200+ mgy of ethanol production in South Dakota, as well as investments in Granite Falls Energy in Granite Falls, Minnesota, and Redfield Energy in Redfield, South Dakota.

Glacial Lakes Energy, LLC (GLE) constructed an original 40 mgy nameplate ethanol production facility in Watertown, South Dakota that underwent an expansion in 2007, and is currently operating at 100+ mgy of annual production. Glacial Lakes Energy was formed in May 2001 as a joint venture between GLCP and Glacial Lakes Capital (GLC) to own and operate the Watertown facility. In July 2004, GLE purchased the ownership held by GLC, and GLCP became the sole owner of GLE following the transaction.

GLE holds a 15% ownership investment in Granite Falls Energy, LLC, a 50 mgy ethanol production facility located near Granite Falls, Minnesota, and an 8% ownership investment and a board seat in Redfield Energy, LLC, a 50 mgy ethanol production facility located near Redfield, SD.

GLCP is also the sole owner of Aberdeen Energy, LLC (doing business as "Glacial Lakes Energy - Mina"), which owns and operates a 100 mgy ethanol production facility near Mina, SD. The Mina production facility began operations in June of 2008.

GLCP and its Subsidiaries have continuously operated its facilities at or above nameplate capacity since 2002, and now purchase and process approximately 70 million bushels of locally grown corn annually, providing economic impact to the local agriculture industry and communities in which it serves, and to its member shareholders.

Important Notices to Investors
  • As part of your ownership in Glacial Lakes Corn Processors, a South Dakota cooperative, you are required to deliver corn to supply our ethanol production facilities with a sufficient amount to maintain production. We do this through our membership corn commitment (“call”).
  • Therefore, we have issued a corn call of 0.46 bushel per share owned for the 2013-2014 Fiscal Year (example: if you own 5,000 shares, your 2013-2014 corn commitment is 2,300 bushels). Your corn commitment has remained the same from last year. The call will be effective for deliveries made from September 1, 2013 to August 31, 2014. The annual open delivery system shall remain unchanged and again if you do not have access to corn, we will purchase the corn for you and in return, you will be assessed the pool fee.
  • The Pool Fee for the 2013-2014 Fiscal Year will be $0.004 per bushel (i.e.: you own 5,000 shares for a commitment of 2,300 bushels your cost to use the pool system is $9.20) Pool fees will be assessed on undelivered committed bushels at the end of the fiscal year, August 31, 2014. If you do not intend to deliver any corn or deliver only a portion of your commitment, you do not need to notify us or send payment. We will automatically bill you for the undelivered committed bushels after the end of the fiscal year, August 31, 2014. Please do not mail your payment in until you are invoiced.
  • Freight incentives will be paid on actual deliveries of your corn commitment.Freight rates for the fiscal year September 1, 2013 to August 31, 2014. Only members who actually deliver on their commitment are eligible for these rates. The revised rates are:
  • 0-10 miles $0.045
  • 11-20 miles $0.065
  • 21-30 miles $0.085
  • 31-40 miles $0.105
  • 41-50 miles $0.125
  • 51-60 miles $0.135
  • 61-70 miles $0.155
  • 71-80 miles $0.175
  • 81-90 miles $0.195
  • 91-100 miles $0.215
  • 101+ miles $0.235
  • Again this year, as a member, you have the opportunity to deliver your commitment to any of our facilities; Watertown, Mina, Rogers Brothers (north of Miller), whichever is most convenient for you.
  • If you have any questions, please contact Jessi Eidson or Marcy Kohl at 605-882-8480. Thank you!

Original Shares and New Shares
  • GLCP's original shares of common stock were issued at $2.00 per share in 2001. Following original issuance, GLCP had approximately 7,738,314 shares outstanding. In 2004, GLCP declared a 2-for-1 stock split. In the summer of 2006, GLCP declared a 9-for-1 stock split, resulting in approximately 139,289,650 original shares of common stock outstanding in 2006, with contributed capital on the original shares of approximately $0.11 per share.
  • In the fall of 2006, GLCP issued approximately 47,500,000 of "new" shares of common stock at a price of $2.00 per share to help finance its expansion plans.
  • The original shares carry an additional $0.05 per share retained earnings from FY2006. All retained earnings on all shares are eligible for payout at the discretion of the Board of Directors. The original shares also may have additional taxable gain associated with them in the event of a taxable sale of assets or the subsidiary companies by GLCP, due to the difference of the $0.11 per share of contributed capital on the original shares and the $2.00 per share of contributed capital on the new shares (meaning the first $1.89 per original share of taxable gain on such a sale or disposition would be allocated to the original shares).
  • As of August 31, 2009, GLCP has 185,553,652 total shares of common stock outstanding.
  • Employee Shares: These shares are listed under “new” shares since they were not part of GLCP’s original issue in 2001; however, the shares were not issued at $2.00 as part of GLCP’s 2006 stock offering of new shares. Instead, the shares were issued to employees pursuant to the GLE’s Stock Bonus Plan at the then current value of shares at the time of issuance. To the extent the shares were issued at less than $2.00 per share value, the shares will be subject to GLCP’s share revaluation preference provision in its Bylaws, and will be allocated more taxable gain on the sale of the company than new shares issued at $2.00. For more information on the share revaluation preference and the difference between new shares and original shares, please visit our website.
  • The Board of Directors (“Board”) of Glacial Lakes Corn Processors (“GLCP” or the “Company”) has established a Disclosure of Information and Insider Trading Policy pursuant to authority granted under the Company’s Articles of Incorporation and Bylaws.  Please see “GLCP Support Documents” for a complete copy of the policy.



GLCP Support Documents

»  
GLCP Articles of Incorporation
»  GLCP Bylaws
»  GLCP Membership Application
»  GLCP Uniform Marketing Agreement
»  GLCP Ownership Designation Form 
NOTE: Displayed postings/pricings may change. According to your browser functionality, this page will automatically refresh for up-to-the-minute bid pricing. All postings are time stamped using our Web Server clock.
Matching Occurs Daily @ 5:00:00 PM Central Time
GLCP (Original)
Share Type: Common Stock View Sample Buyer's Contract
Share Class: Original View Sample Seller's Contract
View Match History

  • Minimum Ownership: 2,500 shares
  • Minimum Sale or Purchase: 2,500 shares
  • Incremental Sale or Purchase: 2,500 shares
  • The Seller will be required to pay Variable Investment Advisors, Inc. a fee of (2%) of the gross sales price or a minimum fee per transaction being ($150.00), to be paid out of the Sellers proceeds at the time of closing.
  • ***New features**** Maximum buyers bidding price and extended bidding time.


Offers to Buy Original

# Shares Price/Share Expiration Post Date & Time
20,000 $1.50 07/30/2014 07/10/2014 - 04:52:37 PM
5,000 $1.45 07/24/2014 07/10/2014 - 04:49:47 PM
2,500 $1.30 08/30/2014 07/01/2014 - 08:41:02 AM
20,000 $1.21 12/31/2014 07/10/2014 - 02:55:23 PM
Offers to Sell Original

# Shares Price/Share Delivery Matchable Transferable Expiration Post Date & Time
12,500 $1.30 Yes 07/24/2014 N/A 09/24/2014 07/10/2014 - 01:48:12 PM
20,000 $1.45 Yes 07/24/2014 N/A 10/23/2014 07/10/2014 - 03:39:51 PM
20,000 $1.42 Yes 07/24/2014 N/A 10/23/2014 07/10/2014 - 04:31:28 PM
30,000 $1.50 Yes 07/30/2014 N/A 11/12/2014 07/15/2014 - 09:31:29 PM
45,000 $1.85 Yes 07/30/2014 N/A 11/12/2014 07/16/2014 - 03:03:36 PM
20,000 $1.50 Yes 07/30/2014 N/A 11/12/2014 07/16/2014 - 04:27:48 PM
20,000 $1.60 Yes 07/30/2014 N/A 11/12/2014 07/16/2014 - 04:28:45 PM
20,000 $1.70 Yes 07/30/2014 N/A 11/12/2014 07/16/2014 - 04:29:07 PM
20,000 $1.90 Yes 07/30/2014 N/A 11/12/2014 07/16/2014 - 04:29:33 PM
5,000 $1.55 Yes 07/31/2014 N/A 11/12/2014 07/16/2014 - 09:52:07 PM
5,000 $1.65 Yes 07/31/2014 N/A 11/12/2014 07/16/2014 - 09:54:12 PM
20,000 $1.60 Yes 08/01/2014 N/A 11/14/2014 07/18/2014 - 04:57:16 PM
20,000 $1.50 Yes 08/02/2014 N/A 11/14/2014 07/18/2014 - 05:08:12 PM
GLCP (New Share)
Share Type: Common Stock View Sample Buyer's Contract
Share Class: New Share View Sample Seller's Contract
View Match History

  • Minimum Ownership: 2,500 shares
  • Minimum Sale or Purchase: 2,500 shares
  • Incremental Sale or Purchase: 2,500 shares
  • The Seller will be required to pay  Variable Investment Advisors, Inc. a fee of (2%) of the gross sales price or a minimum fee per transaction being ($150.00), to be paid out of the Sellers proceeds at the time of closing.
  • ***New features**** Maximum buyers bidding price and extended bidding time.


Offers to Buy New Share

# Shares Price/Share Expiration Post Date & Time
52,500 $1.12 08/01/2014 07/21/2014 - 09:59:54 PM
5,000 $1.11 07/31/2014 06/30/2014 - 04:56:21 PM
20,000 $0.64 12/31/2014 06/04/2014 - 11:09:46 AM
10,000 $0.60 12/30/2014 04/04/2014 - 10:01:12 AM
Offers to Sell New Share

# Shares Price/Share Delivery Matchable Transferable Expiration Post Date & Time
5,000 $1.29 Yes 07/29/2014 N/A 11/11/2014 07/15/2014 - 04:33:33 PM
5,000 $1.29 Yes 07/29/2014 N/A 11/11/2014 07/15/2014 - 04:45:38 PM
5,000 $1.56 Yes 07/30/2014 N/A 07/31/2014 07/16/2014 - 11:40:05 AM
60,000 $1.80 Yes 07/30/2014 N/A 11/12/2014 07/16/2014 - 03:04:33 PM
10,000 $1.50 Yes 07/31/2014 N/A 11/05/2014 07/16/2014 - 08:25:38 PM
GLCP (Commercial)
Share Type: Common Stock View Sample Buyer's Contract
Share Class: Commercial View Sample Seller's Contract
View Match History

  • Minimum Ownership: 50,000 shares
  • Minimum Sale or Purchase: 50,000 shares
  • Incremental Sale or Purchase: 50,000 shares
  • The Seller will be required to pay  Variable Investment Advisors, Inc. fee of (2%) of the gross sales price or a minimum fee per transaction being ($150.00), to be paid out of the Sellers proceeds at the time of closing.
 
  • commercial level investment

    Commercial Investment Level. If Member purchased 50,000 shares or more of Common Stock in GLCP’s initial Offering of Common Stock, GLCP will pay Member within 30 days following the close of each fiscal year a $0.03/per committed bushel volume incentive on such original shares (excluding any shares received therefore in any stock split or combination following the issue date of the original shares), whether delivered by or on behalf of such Member, with a floor for purposes of the volume incentive payment hereunder of 50,000 bushels.

    Commercial level members who choose to sell their shares must sell them in their respective block otherwise if the shares are split apart the commercial level incentive is lost and can never be regained. 

    ***New features**** Maximum buyers bidding price and extended bidding time.



Offers to Buy Commercial

Currently no Offers to Buy
Offers to Sell Commercial

Currently no Offers to Sell
 
 
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