ICG says ‘clear majority’ of investors support €1.2bn deal as it delays vote
Deal had not secured vital 75 per cent shareholder backing before egm was adjourned
Deal had not secured vital 75 per cent shareholder backing before egm was adjourned
Directors of ferries group are blaming an overly tight voting window that was entirely of their own making for deferral of vote on MBO
Independent board delays vote on €1.2bn takeover by management team that had been facing defeat for two weeks
Ferries operator says it is aware of at least one instance where a shareholder has changed their mind and now intends to back the deal
Nick Furlong’s Pageant Investments, Eamon Waters’ Sretaw and London-based Sand Grove increase their stakes
The best news, analysis and comment from The Irish Times business desk
Based on early proxy votes cast, the €1.2 billion offer by Rothwell and other managers looks set to be rejected
Early proxy votes indicate management-led offer for ferry operator could be turned down
Results come against backdrop of €1.2bn MBO led by chief executive Eamonn Rothwell that would see shareholders paid €8 per share
ICG management group, led by CEO Eamonn Rothwell, has offered €8 per share to buy the business
Statement comes as a number of shareholders say the offer undervalues the ferry business
Irish Ferries operator is the subject of a management-led buyout, which some stakeholders oppose
Dissenting institutional investors claim debt and earnings picture underpinning bid multiple are misleading
Share buy-backs and stock awards to chief executive Eamonn Rothwell among factors that have limited market liquidity
Chairman of Irish Ferries owner has been on the board for 38 years. Is he really that independent?
Board faces collision course with some top investors who see deal as undervaluing the company
Shares spike above €8 offer price, to €8.08, after weight of buyers delays start of trading
Three Irish public companies are now subject to takeover proposals
Roll-on, roll-off freight unit traffic rose 5.2% on same period last year, but car volumes were down 2.9% and container freight 3.8% weaker
Irish Ferries parent group defends decision to continue departure from public company governance codes
Share buybacks have seen Eamonn Rothwell’s stake in the business jump 50% but, at 71, what is his end game?
ICG has reduced sailings on Dover-Calais route to redeploy capacity to Ireland-France route
Chief executive of 33 years now owns just over 20% of parent of Irish Ferries
Passenger revenues rise despite Holyhead disruption after winter storm damage and reduction in sailings on Dover-Calais route
Proxy adviser ISS remains concerned over lack of detail on how bonus of long-time chief executive Eamonn Rothwell is assessed
The median chief executive compensation packag was €2 million last year.
Proxy adviser ISS urges shareholders to reject company’s remuneration report at forthcoming agm
Irish Continental Group chief executive Eamonn Rothwell receives €1m in share payments and another €1.5m in options at current values
Company’s behaviour is reprehensible but it was merely following well-worn industry path
Revenues last year rose by 21% to €334.5m as number of cars carried increased to 203,600
Concern over lack of impairment charges as ferries left idle during pandemic shutdown
Irish Ferries owner has prioritised route between England and France
Median CEO compensation package falls almost 36 per cent to €1.2 million however
Advisory firms to big corporate companies critical of top-level remuneration ahead of agms
Cars down 67%, offset partly by increase in lorries carrying goods
Irish Continental Group has seen passenger numbers fall 60% but freight volumes robust
Last government committed at start of April to provide up to €15m of PSO subventions
After WB Yeats debacle, Irish Ferries owner facing Covid-19 and Brexit uncertainty
ICG chief Eamonn Rothwell says rule will put Common Travel Area at risk post-Brexit
Ferry company’s owner, Irish Continental Group, has cancelled an order with German shipmaker FSG for a new vessel
Seen & Heard: Car Trawler raising funds, Rothwell’s €3m pay, and Glenveagh apartments sale on hold
Slew of Dublin-listed companies scrap multimillion-euro dividend payment plans
ICG meeting pushed back from May 12th, with vote on final dividend of 2019 deferred
CEOs have secured collective pay rise of 13% while employee salaries rise just 1.5%
Irish Continental Group said UK bookings fell in run-up to March 29th withdrawal date
Shareholders’ adviser presses ferry operator to replace long-serving John B McGuckian
Funds being used to finance two ships, one of which entered service on Tuesday
Market Beat: Irish Continental Group continues to find itself in choppy waters
The average salary of Iseq 20 boss has risen to €1.88m, according to new figures
Ship will carry 1,800 passengers and crew and 330 containers on Dublin-Holyhead route
Duty-free drink may be 60 per cent cheaper for Irish passengers coming home from UK
Over 90% of shareholders approve remuneration levels of the ferries operator
Shareholder groups increasingly active in opposing higher pay at Irish PLCs
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