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Shareholders seek explanation for failed €7.2 million Clare FM/Radio Kerry deal

This article is from page 1 of the 2008-04-01 edition of The Clare People. OCR mistakes are to be expected so download the original SWF or the rendered page 1 JPG

CLARE FM = shareholders have called on the board to make a state- ment in relation to the collapsed sale of the station to Radio Kerry.

Their call coincides with confir- mation that the Diocese of Killaloe, which owns 2.5 per cent of the En- nis-based radio station, decided not to sell its shares to Radio Kerry.

Hundreds of shareholders across the county stood to make a small

windfall on the sale and one of those, Clare county councillor Christy Curtin, said yesterday that the board must make a statement to clarify the situation. He stood to make €2,000 from the sale of the shares.

“I didn’t buy shares as a speculator but because I believed that having a local station was a vital service.

“The board or management should now make a clear statement on what is happening at the company. It is right and proper that this should hap-

pen and remove the uncertainty,” he Sr AKOe

Former Mayor of Ennis, Cllr Frankie Neylon confessed yesterday that he had already spent his antici- pated share windfall – estimated to be around €4,000.

“I don’t know what the secrecy and the cloak and dagger stuff is about. We were told that the sale was due to be completed in March. That hasn’t happened and we have heard noth- ing since. The board should tell the

people and the shareholders what is Jaks} 0) olen 0 0 ba ycaua

Former Clare TD, Dr Mooajee Bhamjee was set to earn €3,000 from the windfall and he said that people expected the sale to go through and some of them would have made plans with the money that was expected. He said the board should release a statement to ease the concerns of the shareholders.

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