CURRENT ACCOUNT: John Teeling is one of corporate Ireland's more colourful characters, and his latest sally into underperforming Norish shares will revive memories of some of his most famous raids on the likes of Alliance & Dublin Consumers Gas Company, Irish Oil & Cake Mills and Conroy Resources.

For the past few years, Teeling has had to take on the role of full-time manager at Cooley Distillery, while still dabbling in minerals and oil and gas exploration in Bolivia, Zimbabwe and Ireland.

Maybe he has got itchy feet, but the move into Norish by himself, Tom Cunningham and a raft of Goodbody's private clients has all the hallmarks of a Teeling break-up bid. Trading at a 60 per cent plus discount to book value, Norish is a tasty morsel for a corporate raider like John Teeling.