Ardagh investors get 900% return on investments

Investors who still have their shares in the old Ardagh can expect a 900% increase in the value of their investment in just four years.
The shares in South Wharf, the company selling the site, have r…

Investors who still have their shares in the old Ardagh can expect a 900% increase in the value of their investment in just four years. The shares in South Wharf, the company selling the site, have risen substantially due to industry speculation that the glass bottle plant in Ringsend will be sold for almost EUR 500 million. The shares reached EUR 8 each the third week of October 2006, valuing the deal at EUR 430 million. An analysis of the pay-outs to Ardagh shareholders who took shares in the Paul Coulson-controlled Ardagh Glass when the company was split in 2003, reveals a considerable return on the investment. A further analysis shows that an investor with 10,000 Ardagh shares, worth EUR 13,500 in December 2002, would have received EUR 40,000 from Coulson“s investment vehicle as they sold their shares in Ardagh Glass to the financier. Their original 10,000 shares in Ardagh, now called South Wharf, were valued at EUR 80,000 during the fourth week of October 2006. This means that investors with an Ardagh shareholding worth EUR 13,500 in December 2002 now have EUR 120,000.