This article is from page 7 of the 2008-03-25 edition of The Clare People. OCR mistakes are to be expected so download the original SWF or the rendered page 7 JPG
THERE was mounting speculation yesterday that the proposed €7.2 million sale of Clare FM to Radio Kerry had fallen through.
The rumoured collapse of the sale will disappoint hundreds of share- holders across the county who were set for small windfalls as a result of investing in the station in the early Les
The shareholders last had contact from the station’s board in Decem- ber when they were told that the sta- tion had decided to accept a €20 per share offer from Radio Kerry.
In a letter to shareholders, the chair- man of Clare Community Radio Holdings plc, Michael Evans, stated that the sale was conditional on 95 per cent shareholder approval.
Mr Evans stated that the sale should be completed by the end of March mau eres
However, there has been no further communication from the board to shareholders since then.
One major shareholder said yes- terday, “I understand that the deal has fallen through and this has been communicated to the Clare FM board, though we have heard nothing official as yet.”
Both sides are declining to com- ment. The Clare FM chief executive, Liam O’Shea, failed to respond to
e-mailed queries on the matter last Thursday and Friday, while Radio Kerry also failed to return a phone query.
However, even if the deal has col- lapsed, it will alert others in the marketplace that the station is up for grabs. It is believed that Radio Kerry was not the only station interested in purchasing Clare FM.
If the deal has fallen through, the station’s senior management and the CPIM SDrmeE-DesveAAmny some;