IAWS Group chief executive Mr Philip Lynch who was last night given Business & Finance Business Person of the Year award, has realised £1.35 million (€1.7 million) after exercising options over IAWS shares and then selling them into the market.

Mr Lynch has informed the stock exchange that on Wednesday, he exercised options over 300,000 IAWS shares at £2.30 (€2.90) each and then sold the shares into the market at €7.40 each. The timing of the sale was opportune as IAWS shares fell sharply yesterday after the confirmation of foot-and-mouth disease in Co Louth.