Why theatre sought additional revenue
The article refers to the chairman of Cork Opera House calling on the city council to convert payable loans totalling €2.79m into shares and non-payable grants. The city council passed a resolution at a meeting in May 2004 to convert €507,895 of loans to non-repayable grants and €1,428,454 of loans to share capital.
The article made no reference to this decision. Cork Opera House and Cork city council are currently in talks to progress this resolution.
