BUCKLEY WITHDRAWS FROM AIRONE - Businessman Leslie Buckley has withdrawn as an investor in the fledgling Caribbean low-cost airline Airone Ventures, which is backed by a number of Irish entrepreneurs, according to the Irish Times.
A spokesman for Mr Buckley confirmed yesterday that the Cork-born executive has exited from Airone. It is not clear how much Mr Buckley invested in the project or what the level of his shareholding was.
Airone is seeking a licence to launch services from Barbados and hopes to begin flying in the spring of 2009. Earlier this year, the airline failed to secure a licence to operate from Jamaica. It had hoped to begin flying from the island in May.
It is understood Mr Buckley decided to back out of the Airone consortium after it failed to secure a licence from the Jamaican government. Jamaica has a population of 2.8 million, while about 280,000 people live in Barbados.
BOI HQ PLANS REJECTED BY COUNCIL - The Irish Independent is reporting that plans to redevelop the Bank of Ireland HQ which would see two storeys added to one of Dublin’s most iconic buildings have been shot down.
Dublin City Council has refused planning permission for the development saying that any changes to the protected structure on Baggot Street would have a 'significant undesirable impact' on the integrity of the complex and 'seriously detract' from the area.
Architects HKR had proposed adding two extra storeys in 'glass boxes' to two of the three blocks, and covering much of the courtyard with a glazed atrium.
Designed by Scott, Tallon, Walker, the building was erected between 1968 and the late 1970s and is described as being 'one of the finest buildings of its era'.
It was bought by a consortium including businessman Paddy Shovlin and financier Derek Quinlan for €200m in 2006.
ONE51 DIRECTORS OWN MILLIONS OF SHARES - Directors and other investors in One51 now hold shares in the group worth millions of euro in many cases, according to the Irish Examiner.
Chief executive Philip Lynch and founder of the group holds over 3.4 million ordinary shares, which are worth close to €16m, based on yesterday's price on the grey market of €4.65 a share.
Lynch also holds three tranches of deferred convertible shares, adding significantly to the potential worth of his holding.
He also has options on a further 630,000 shares at a price of €5.06, to be exercised by the end of the group's 2014 financial year.
Details of the share allocations are contained in the 2007 annual accounts which have been filed by the group.
Non-executive chairman Denis Buckley holds 122,800 ordinary shares, worth close to €480,000, while executive director Michael Long’s 936,800 shares are worth over €4.3m at yesterday’s price.
PAGE ENDS ADECCO TALKS - The Times reports that recruitment specialist Michael Page announced this morning that it has halted talks with Adecco, the Swiss-based recruiter, over a £1.3 billion bid for the company.
The management of Britain's second largest recruitment agency said today that two separate bids from Adecco undervalued the company.
Adecco said it was considering its position with regards to the bid and that there is scope for a combination with Michael Page which is to the benefit of both companies and their respective shareholders.
It also stated that it thought it was important to retain senior management of Michael Page in the event that an offer is successful.
The world's largest recruitment initially approached the British agency in June.