Dunloe Ewart plc

Wednesday, 30 October 2002


 Dunloe Ewart plc (“Dunloe”)

The Panel has considered a request from Dunloe to investigate whether Mr. Liam Carroll, Mr. Dermot Desmond and Mr. Philip Monahan are acting in concert in relation to their respective shareholdings in Dunloe.  Dunloe had expressed the view to the Panel that the aforementioned individuals are acting in concert.

Mr. Carroll, Mr. Desmond and Mr. Monahan hold or have an interest in 28.9%, 7.9% and 6.7% respectively of the ordinary shares of Dunloe. 

The Panel has carefully considered the submissions from the relevant parties and has ruled, on the basis of the information currently available to it, that no evidence has been adduced that justifies a finding that Mr. Carroll, Mr. Desmond and Mr. Monahan are acting in concert.  Furthermore, no factual information has been provided to the Panel which may justify a Panel hearing on this matter.

30 October, 2002