Property developer Sean Dunne, who owns almost a fifth (18%) of the Jurys Doyle hotel group, will not be allowed to vote on a resolution of shareholders at the company's EGM required to approve the sale of the group’s Ballsbridge site to Padholme, a company Mr Dunne controls.
“By virtue of the size of his shareholding, Sean Dunne is deemed to be a related party of Jurys Doyle under the Listing Rules of the Irish Stock Exchange and the listing rules of the UK Listing Authority,” a Jurys press statement said.
“As a consequence Sean Dunne will be precluded from voting on the resolution of Jurys Doyle shareholders required to approve the transaction.
“Additionally, Sean Dunne is required to take all reasonable steps to ensure that his associates do not vote on the relevant resolution.”