Kerry Co-op blocks sale of shares by investor who publicly criticised it

David Scannell has been told by the company board he cannot sell more than €500,000 worth of shares until he apologises for disparaging comments and promises never to rejoin the organisation again

The board of Kerry Co-op has refused to sanction the share transfer unless it receives a written apology from Scannell for previously criticising the co-op leadership in the media,

A shareholder in Kerry Co-op has been told he could not sell more than €500,000-worth of shares unless he apologised to its board and its chief executive Thomas Hunter McGowan for previously criticising the organisation in public.

David Scannell, from Listowel in Co Kerry, had agreed a grey market deal in May through Davy Stockbrokers to sell 895 Kerry Co-op shares to five different buyers for €570 each, which amounted to just over €510,000.

However, ...