Plastics and recycling company One51 has decided not to go ahead with its planned shareholder meeting next week at which it was expected a possible flotation would be discussed.

One51 will seek support for a dual IPO, in Dublin and London, from its shareholders next month.

A leading analyst yesterday said he would be surprised if One51 were to be bought out around its current share price of €1.85 and believes that the plastics, waste management, and NTR stake-owning group led by chief executive Alan Walsh remains intent on bringing the firm to market in an initial public offering sometime in the future.

Millions of euro in compensation is set to be paid to suppliers adversely affected by the recent move into receivership of leading bakery firm, Irish Pride.

Around 80 jobs are expected to be lost at Irish Pride — one of the country’s leading bakery businesses — despite it being rescued.

One51 — the investment firm which is owned by, among others, 50 agricultural co-ops around the country — has received an approach from private equity fund CapVest of €1.80 per share, it has been confirmed.

One51 — one of three warring shareholding blocs in the shrinking NTR conglomerate that covers wind farms, water treatment and roads investments – last night hinted at a significant looming event in the long-running battle over the future of NTR.

NTR – the wind farm, water treatment and roads investment conglomerate — has said it is still on course for another tens of million-euro payout to its warring shareholders later this year —after completing the sale of wind turbines in the US.

Irish Pride Bakeries, one of the largest bakeries in Ireland, has gone into receivership.

NTR will sell its US wind energy assets and buy out the interests of One51 and Pageant Holdings.

HSBC has joined Dublin-based niche investment group One51’s banking syndicate, adding another €25m to the company’s existing loan facility and boosting it to €90m.

NTR has come under increasing pressure to sell its US-based wind farm assets and cease plans for its €50m European wind investment initiative.

Niche investment group One51 is to embark on a significant capital raising round in the coming weeks, in order to finance acquisition-led growth in its key plastics and hazardous waste divisions.

Renewables and waste-focused investment firm, One51 is expected to conclude a deal to acquire British waste management firm Straight plc in the coming weeks.

Niche investment firm One51 closed 2013 with its lowest net debt levels for more than six years, after slashing its borrowings by nearly €50m.

One51 says it is likely to suffer further “significant” losses this year, adding that its recovery will be “a multi-year turnaround” programme.

Philip Lynch pocketed over €2.51m in payments last year from One51, the investment firm which sacked him last summer.

THE chairman of investment group, One51 has told shareholders that continued debt reduction remains a priority of the board and that recent trading has been positive, given market conditions.

ANALYSTS are awaiting the next installment at investment group One51.

PHILIP Lynch has been sacked as chief executive of investment group One51, with the board moving quickly to appoint financial officer Alan Walsh as his interim replacement.

One Fifty One announced today that it has reached agreement with its existing syndicate of six banks to extend a €200m banking facility to the Group out to June 30, 2013.

The Cork-based Doyle shipping group has sold its share holding in the Irish Continental Group (ICG), which operates Irish Ferries, for €47m.

A FORMER senior AIB banker said he is “sceptical” how anyone could have concluded the final terms of an AIB €25 million loan to businessman Philip Lynch, his family and developer Gerry Conlan to buy development lands did not involve full recourse to all borrowers.

AIB has told the Commercial Court it is not contending that businessman Philip Lynch and his family are liable for all of the AIB debts of developer Gerry Conlan arising from a mortgage related to a €25 million land deal in Waterford.

AN action by One51 investment group chief executive Philip Lynch and his family aimed at preventing AIB pursuing them over a €25 million loan to buy development lands has been adjourned to next week.

A DAUGHTER of Philip Lynch has denied AIB would not have sought a net-worth statement for Mr Lynch, which showed he had assets of more than €48 million in 2007, if a €25m loan to buy lands for development involved no recourse to the One51 investment group chief executive or his family.

LEADING business figures and former politicians including Sean O’Driscoll of Glen Dimplex and telecom tycoon Denis O’Brien have drafted an economic recovery plan that urges the Government to slash 30,000 jobs from the public sector.

IN times of economic uncertainty the ability of some firms to buck the trend is always reassuring.

ONE of the more strident sayings in our period of construction mania between 2004 and 2007 was “build it and they will come”.

AN update on the design of the new national children’s hospital at the controversial Mater Hospital site in Dublin will be given today by those charged with its development.

THE head of the controversial National Paediatric Hospital Development Board, Philip Lynch, has resigned his position.

INVESTMENT group One51 has the capacity to more than double its share value and could either float or sell its environmental services division in the next couple of years, according to one stockbroking firm.

UNDER scrutiny One51 chief executive Philip Lynch has eased the mounting pressure on his leadership of the investment group, by securing the backing of former dissident John Hegarty.

GERRY Killen’s challenge to the board of One51 yesterday failed to unseat any of the directors.

DISSIDENT shareholders in the investment company One51 could ask the Office of the Director of Corporate Enforcement (ODCE) to investigate the company.

ONE51 boss Philip Lynch will attempt to silence his critics at tomorrow’s AGM by giving detailed answers to all the concerns they have raised about his handling of the group.

ONE51, the investment group headed up by former IAWS chief Philip Lynch, has reported a 14% year-on-year increase in first half earnings before interest, tax, depreciation and amortisation (EBITDA) to €26 million.

DISSIDENT shareholders in One51 have stepped up the pressure on beleaguered chief executive Philip Lynch ahead of the AGM at the end of the month.

THE investment holding company One51 led by businessman Philip Lynch has cut its level of borrowing and carried out two acquisitions.

BIDS for NTR’s Greenstar waste management business are set to close today with up to three or more bids in prospect.

BORD na Móna and the Philip Lynch-led One51 have been tipped as the two strongest contenders in the race to buy Greenstar, the waste management arm of NTR.