€60m for Eason shareholders from property sale

The book and stationery retailer, Eason, is seeking court approval for a demerger of companies within the group which could lead to some €60m being available for distribution to shareholders from sales from its property portfolio.

Eason Holdings plc wants the Commercial Court to confirm a decision, following an extraordinary general meeting (EGM) last September, to reduce the company's share premium account by €47.2million and reduce its capital by the cancellation of 20 million ordinary shares valued at €15m in total.