Business Irish

Tuesday 25 June 2019

Larry Goodman one of One51's biggest backers

Top Irish names invest in new share placement

Larry Goodman
Larry Goodman

Nick Webb

BEEF baron Larry Goodman is one of the largest individual backers of Philip Lynch's One51, following a share placing last October.

Goodman's Parma investments owns almost 1.1 million shares, worth more than €5.5m, according to latest company documents. These shares have shed €1.2m in value over the last six months.

Last year the Sunday Independent revealed that some of the country's best-known businessmen and high rollers were shareholders in One51; these included former Bank of Ireland boss Mike Soden, C&C chairman Tony O'Brien, ex- Aer Lingus chief Tom Mulcahy and Eddie Hobbs.

A large number of new names have joined them in backing Philip Lynch's company and for the first time the size of individual shareholdings can be revealed.

Construction mogul Bernard McNamara owns 200,000 shares in the company, worth €1m. Kerry Group chairman Denis Buckley has about €450,000 in shares.

Dublin Port boss Enda Connellan has 30,000 shares, worth around €150,000. Trinity Biotech's Ronan O Caoimh has also emerged as a big shareholder with 400,000 shares valued at about €2m. O Caoimh was revealed to have built up a 2 per cent stake in ICG last year, during One51's takeover battle for the ferry company.

Former Greencore chief Chris Comerford holds €50,000 worth of shares. Ex-Irish Dairy Board head Noel Cawley is also a backer. Irish Nationwide chief executive Michael Fingleton owns €100,000 in shares.

Sunway Travel's Tanya Airey and her family have about €200,000 worth of shares, with the Sunway Travel pension fund also an investor.

Ray Kearns, the founder of the Institute of Education, also has shares valued at €250,000. Tattersall's Philip Myerscough has €250,000 in shares. Former internet jobs chief Maria Mahon has 20,000 shares. Leslie Buckley and Denis O'Brien are also shareholders, as is O'Brien's Sandwich Bar boss Brody Sweeney.

Among the original shareholders, ex-Bank of Ireland chief executive Mike Soden is a major backer with €350,000 worth of shares. Tom Mulcahy, who resigned from Aer Lingus over "tax issues" in 2004 before returning to run the Luas, owns €200,000 in One51 shares. Financier and greyhound owner Paschal Taggart has 30,000 shares, with wealthy property and healthcare magnate Gerald Conlan having €500,000 in shares.

The first list of shareholders published by the Sunday Independent last September, revealed that Bebo backer and technology investor Barry Maloney owned shares, as well as Kingspan's Murtagh family, Spar tycoon John Clohisey, C&C boss and Bank of Scotland chairman Maurice Pratt and estate agent Ken McDonald.

One51 raised €150m from investors last year and began trading on the grey market operated by Davys in October. Dealing opened at €5.75 per share, hitting €6.10. Since then the share price has tumbled back to €5 last week, as global stockmarkets continued to slump. This would value the company at just under €600m.

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