Mr Brendan Murtagh , the former director of Cavan-based building products group, Kingspan, has made a capital profit of £23,850 sterling (£26,800) from the sale of 30,000 shares in Hewetson plc. The shares were purchased last February, well before Kingspan, planned to make its bid for Hewetson, according to Kingspan.

Mr Murtagh resigned as a director of Kingspan but remains in an executive position with responsibility for group marketing following revelations of possible insider share dealings in Hewetson, by people connected with him. He purchased the Hewetson shares on February 5th at 116p sterling per share. He sold them on December 16th, the day the revelations were announced by Kingspan, at 195.5p per share. Kingspan's cash offer of 200p sterling per share is being recommended by the board of the British company. Mr Murtagh's sons, Alan and Fergal, are being "suspended" from their junior management positions with Kingspan, effective from January 1st, for their role in the separate purchase of 33,000 shares in Hewetson.

Mr Brendan Murtagh resigned because he may have inadvertently disclosed confidential information to his sons, the company has said.