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How Much Did Sean Pay For His Shares In Steorn?

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Mon Apr 30, 2007 1:28 pm PostPost subject: How Much Did Sean Pay For His Shares In Steorn?
Thicket
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Topic: How Much Did Sean Pay For His Shares In Steorn?

In the early days of Steorn, there were 4 ‘original’ investors. I’ve posted this info before, but they were Sean McCarthy (Steorn Director), Michael Daly (Steorn Director), Shaun Menzies (Steorn employee) and Francis Hackett.

The original four bought a total of 100,000 shares of Steorn at 0.01 Euro per share for a total cost of 1,000 Euros. Sean McCarthy’s portion was 37,500 shares for which he paid 375 Euros.

As of September 30, 2006, the original four retained 88,238 shares of Steorn. Of this, Sean McCarthy owned 37,193 shares. Michael Daly, the other Steorn director, owned 37,802 shares. Together, the two directors owned 60.6% of Steorn shares.

35,421 shares (28.6%) were owned by investors other than the original four. These investors paid a premium of 5,895,325 Euros for those shares.
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