Murtagh sells €6m of Kingspan stake

KINGSPAN co-founder Brendan Murtagh has sold part of his stake in the Cavan-based building materials firm for €6 million.

Mr Murtagh exercised 714,689 share options in the company. The options cost Mr Murtagh just over €2.2m, meaning he netted a profit on the share sale (at €8.50 a share) of nearly €4m.

According to a filing with the Irish Stock Exchange, Mr Murtagh retains a stake of 2.99% in Kingspan, worth about €45m.