Director of Cavan-based construction company Kingspan Mr Brendan Murtagh has increased his stake in the electronic payments company Alphyra to 3.4 per cent.
Between yesterday and today, Mr Murtagh bought 245,900 shares in the electronic payments company in two lots of 220,000 and 25,900.
He is understood to have paid €2.68 per share for the stock.
In today's Irish Timesit was reported Alphyra management faces further opposition to its attempt to take the company private.
It is understood that a group of shareholders with sufficient strength to block any eventual deal is working with Dublin stockbroker NCB to examine ways to encourage a higher offer for the company. A spokesman for NCB last night refused to comment.
Funds with money invested in Alphyra indicated that the NCB group could control up to 30 per cent of the stock - enough to stop the management buyout team securing the 80 per cent it needs to win outright control of the group.
