The battle for control of Dunloe Ewart intensified today with the disclosure that Mr Dermot Desmond and Mr Liam Carroll have added to their holdings in the company.
A notice to the stock exchange today disclosed that Mr Desmond bought 18.7 million shares on Friday bringing his total holding in the property group to 14.47 per cent. Mr Desmond paid between 43 and 45 cent for the shares.
Mr Carroll bought 3.9 million shares at 45 cent per share bringing his shareholding to just under 30 per cent.
Mr Noel Smyth, Dunloe's executive chairman purchased 50,000 shares increasing his shareholding to 26.13 per cent of the company. On October 25th Mr Smyth announced a €167 million offer for the company.
The offer, which is pitched at 42.5 cents cash per share, has been recommended by Dunloe's independent directors but opposed by a group of shareholders including Mr Desmond and Mr Carroll.