Greencore clarifies investors' identities

Greencore has clarified the identity of some of its largest shareholders, in an effort to defuse speculation that it is a takeover target.

It follows heavy trading in the share earlier this month, followed by reports last week that Bank of Ireland-related companies increased their stake from 16 per cent to 27 per cent stake in the group in what appeared to be a matter of weeks.

In a statement issued to the Irish Stock Exchange yesterday, Greencore confirmed that Bank of Ireland Securities Services (BOISS) was the holder of 27 per cent of its shares.

It said BOISS did not have a beneficial interest in any of the shares, which are being held for clients under the name of Bank of Ireland Nominees.

Greencore also said that, as of July 8th, Bank of Ireland Asset Management (BIAM) held 15.97 per cent of its shares on behalf of a range of clients.

The food company said it had not been informed of any change in this position since July.

It went on to confirm, however, that the 27 per cent held by BOISS included almost all of the BIAM holding.

It said, of the 15.97 per cent held by BIAM, 15.2 per cent was registered as being held by BOISS.

Greencore went on to confirm that AIB, Fidelity and Standard Life Investments, all of which had various holdings in the company in the past, no longer controlled holdings above 3 per cent.

The company made no comment on Mr Dermot Desmond's IIU Nominees, which owns 22 per cent of Greencore.

Mr Desmond has been an active buyer of the stock, building up his stake from 16 per cent in October.