Dunloe Ewart will now sell a number of its Irish investment properties, using the proceeds to finance its continuing development programme. Earmarked for sale are: two shopping centres; five retail units; nine industrial buildings; five office blocks and one retail warehouse. Also included in the portfolio are 38 acres of development land at Clondalkin, Dublin; 190 acres at Clonburris, Dublin and city centre sites at Sir John Rogerson's Quay, Dublin; Barrow Street, Dublin; Sirocco, Belfast; Fitzwilliam Terrace, Belfast and Wellwood Street, Belfast.

However, the shareholders' refusal to agree to the repurchase of shares at euro 0.55 per share raises a question mark over the whole process. Dunloe Ewart had planned to use part of the sale proceeds to finance the buy-backs as a way of returning value to shareholders.

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