Gone with the wind: Two Gaelectric bosses surrender equity to shareholders

Two of the renewable energy company’s founders move to improve the payout to shareholders

28th January, 2018
4
Gaelectric is selling off its windfarms but there will still be a deficit for its shareholders

Two of the main shareholders in Gaelectric, the Irish renewable energy company that is currently selling off its final assets, have agreed to hand over a portion of their equity to other shareholders and return cash to the business, in an attempt to lessen the pain inflicted on burned rank-and-file shareholders.

The move by Eamonn McGrath and Barrasy Gavin, both of whom held executive positions in Gaelectric, will increase the pressure on the other founder,...

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