Anyone who will be away on holidays this month and wants to subscribe to buy shares in Telecom Eireann should consider granting power of attorney to a relative or friend to complete the share purchase order.

By nominating someone else to act on their behalf, investors can ensure they will not miss their chance to buy the shares. The registrars handling the flotation will only accept a properly drafted power of attorney notification.

To assign power of attorney, investors should instruct either a solicitor, commissioner for oaths or notary public of their wishes. The process should be a relatively simple and inexpensive one.

The power of attorney can be granted for just the specific purpose of dealing with your share purchase order and will expire after the specified date.

Those who have registered their interest in purchasing the shares will shortly receive details of the price at which the shares will be issued and the minimum and maximum amount that can be purchased. The shares are expected to begin trading in July.

Meanwhile, Telecom Eireann pensioners and their families received good news from the Government this week. The 8,000 or so will be eligible to subscribe for a special allocation of shares ahead of the flotation which will be made available at the issue price if they wish to take them up. They can purchase a maximum of £3,000 worth of shares in addition to the allocation they are already entitled to as citizens of the State.