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COMPANIES

AN O^G U^ CHLASU CUiO^ACH , W

B1 Submission Number: 6800315

B1 - Annual Return - 356183 Company details
Date return made up to 30 September 2009

Company details
Company number Company name Registered Office 356183 Dundalk Port Company Limited Harbour Office, Quay Street Dundalk Co Louth Ireland 1 January 2008 31 December 2008

Financial year from Financial year to

Secretary details
Secretary
Type of entity Individual Resident within EEA

Individual details
Surname Forename Address Murphy Freda Elizabeth Courtbane, Hackballscross Dundalk Co Louth Ireland

Page 1 of 12

COMPANIES
AN O ^ G U^ CHLASU CUiO^ACH

, W

B1 Submission Number: 6800315

Directors
Directors

Frank Allen ( 1 )
1 Director
Individual Resident within EEA

Type of entity

Individual details
Surname Forename Country of nationality Date of birth Business occupation Address Allen Frank IRELAND 15 November 1956 Director Helm Park Dundalk Co Louth Ireland EEA resident

Seamus Belton ( 2)
2 Director
Individual Resident within EEA

Type of entity

Individual details
Surname Forename Country of nationality Date of birth Business occupation Address Belton Seamus IRELAND 5 February 1962 Director 29 Castle Park Dundalk Co Louth Ireland EEA resident

Page 2 of 12

COMPANIES
AN O ^ G U^ CHLASU CUiO^ACH

, W

B1 Submission Number: 6800315

James Cousins ( 3)
3 Director
Individual Resident within EEA

Type of entity

Individual details
Surname Forename Country of nationality Date of birth Business occupation Address Cousins James IRELAND 4 December 1937 Director 140 Aid Esmuinn Dundalk Co Louth Ireland EEA resident

Seamus Keelan ( 4 )
4 Director
Individual Resident within EEA

Type of entity

Individual details
Surname Forename Country of nationality Date of birth Business occupation Address Keelan Seamus IRELAND 30 March 1944 Director Newry Road Dundalk Co Louth Ireland EEA resident

Page 3 of 12

COMPANIES
AN O ^ G U^ CHLASU CUiO^ACH

, W

B1 Submission Number: 6800315

NiallKehoe ( 5 )
5 Director
Individual Resident within EEA

Type of entity

Individual details
Surname Forename Country of nationality Date of birth Business occupation Address Kehoe Niall IRELAND 6 November 1957 Director Maxwell Row Dundalk Co Louth Ireland EEA resident

Noel Leniioii ( 6)
6 Director
Individual Resident within EEA

Type of entity

Individual details
Surname Forename Country of nationality Date of birth Business occupation Address Lennon Noel IRELAND 26 December 1942 Director Shore Road Dundalk Co Louth Ireland EEA resident

Page 4 of 12

/ " / V S V ^ l

j&GgHjAjiO^ OFFKI an o^iTu^'aiIKocOiB^AoTrA?

^

B1 Submission Number: 6800315

MichaelMcCabe ( 7 )
7 Director
Individual Resident within EEA

Type of entity

Individual details
Surname Forename Country of nationality Date of birth Business occupation Address McCabe Michael IRELAND 5 September 1957 Director The Shires, St Alphonsus Road Dundalk Co Louth Ireland EEA resident

LeoMcCauley ( 8 )
8 Director
Individual Resident within EEA

Type of entity

Individual details
Surname Forename Country of nationality Date of birth Business occupation Address McCauley Leo IRELAND 10 April 1945 Director Orchardvill, Rock Road East Blackrock, Dundalk Co Louth Ireland EEA resident

Page 5 of 12

COMPANIES GS'SATlO* OFFICE , | f AN OIRG UM CHLASU GMACH TA: - W

B1 Submission Number: 6800315

Kevin Meenan (9 )
9 Director
Individual Resident within EEA

Type of entity

Individual details
Surname Forename Country of nationality Date of birth Business occupation Address Meenan Kevin IRELAND 27 August 1972 Director 5 Cottage View, Farm Road Annagassan, Dundalk Co Louth Ireland EEA resident

Pearse O'Hanrahan (10)
10 Director
Individual Resident within EEA

Type of entity

Individual details
Surname Forename Country of nationality Date of birth Business occupation Address O'Hanrahan Pearse IRELAND 21 May 1939 Director St Alphonsus Close, St Alphonsus Road Dundalk Co Louth Ireland EEA resident

Page 6 of 12

COMPANIES SEGS'SATlO* OFFICE , | f AN OIRG Ultf CHLASU GMACH TA: - W

B1 Submission Number: 6800315

Frances Rocks (11)
11 Director
Individual Resident within EEA

Type of entity

Individual details
Surname Forename Country of nationality Date of birth Business occupation Address Rocks Frances IRELAND 11 February 1952 Director "Roc-Ard", Mullaharlin Road Dundalk Co Louth Ireland EEA resident

List of past and present members
List of past and present members
Total number shares held 1507333

John Lumsden ( 1 )
1 Shareholder
Lumsden John Marine and Natural Resources, Lesson Lane Dublin 2 Ireland LUMSDEN-JOHN

Surname / Company Name Forename (if person) Address

Folio number

Shareholding
1

Numbers held Share Class

1

Ordinary

Page 7 of 12

COMPANIES GS'SATlO* OFFICE , | f AN OIRG UM CHLASU GMACH TA: - W

B1 Submission Number: 6800315

Minister for Finance ( 2 )
2 Shareholder
Finance Minister for Government Buildings, Upper Merrion st Dublin 2 Ireland MINIS TER4FIN

Surname / Company Name Forename (if person) Address

Folio number

Shareholding
1

Numbers held Share Class

1507331 Ordinary

Fintan O'Brien ( 3 )
3 Shareholder
O'Brien Fintan Marine and Natural Resources, Lesson Lane Dublin 2 Ireland OB RIEN-FINT A

Surname / Company Name Forename (if person) Address

Folio number

Shareholding
1

Numbers held Share Class

1

Ordinary

Page 8 of 12

/ " / V S

j&GSTJAjiO^ OFFKI

B1 Submission Number: 6800315

Authorised Share Capital
Authorised Share Capital
1

Currency Total

EUR 1940705.00

Made up as follows:

-i
1
Currency Class Number of Shares Nominal value per share EUR Ordinary 1552564 1.250000

Issued Share Capital
Issued Share Capital 1
Currency Total EUR 1884166.25

Made up as follows:
Paid up on shares issued for cash Considered paid on other shares Total calls unpaid (E) Total not yet paid (F) Total standing to credit of Capital Conversion Reserve Fund 1884166.25 0.00 0.00 0.00 0.00

Shares issued
Consideration - all cash
Total Number of shares issued - (A) 1507333

Totals 1
Currency Total amount paid (C) EUR 1884166.25

Made up as follows:
1
Page 9 of 12

B1 Submission Number: 6800315

Currency Class Number of Shares Total nominal value Total premium paid Total amount paid

EUR Ordinary 1507333 1884166.25
0.00

1884166.25

Consideration - not all cash
Total Number of shares issued -(B)
1

0

Currency Total amount considered paid (D)

EUR 0.00

Totals
Totals
Total number of shares issued (A) + (B) 1507333

Totals
1

Currency EUR Total paid and unpaid and considered 1884166.25 paid (C) + (D) + (E) + (F)

Particulars of persons verifying the contents of the form
Type of Signature Type of entity Signature as Agent Business name registered in Ireland

Electronic Filing Agent
Company name Type of entity O'Hare Finnegan McGahon Individual Resident within EEA

Individual details
Surname Forename Gorham Catriona

Page 10 of 12

/ " / V S

j&GgHjAjiO^ OFFKI

B1 Submission Number: 6800315

Particulars of the presenter
Reference
Reference Number 1091

Presenter details
Type of entity Name Address Irish registered Company O'Hare Finnegan McGahon First Floor, Block 1 Quayside Business Park Dundalk, Co Louth Ireland bronagh@oharelinnegan.com 042 9331637 042 9334639

Care Of Name E-mail address Telephone number Fax number

Attachments
Attachments
Balance sheet S128 Companies Act 1963 [CA 63]; S7 and S18 Companies (Amendment) Act 1986 [CAA 86]

Notes to the Accounts Schedule of CAA 86

Directors Report S.128 CA 63; S.7 and S.18 CAA 86

Auditors Report S.128 CA 63; S.7 and S.18 CA 86

List of shareholders

Page 11 of 12

COMPANIES GS'SATlO* OFFICE , | f AN OIRG U^ CHLASU GMACH TA: -W

B1 Submission Number: 6800315

Legal references
Collective Citation: Companies Acts, 1963 to 2009 Legal Function Performed: Annual Return to the registrar of companies Act: Companies Act, 1963 Section: 125, 127, 128 Act: Companies (Ammendment) Act 1986 Section: 7 Act: Electoral Act 1997 Section: 26 Act: Companies (Ammendment)(No. 2) Act 1999 Section: 43 and 44 Act: Companies Act, 1990 Section: 249A

Page 12 of 12

4241006
Company Registration No. 356183(Eire)

DUNDALK PORT COMPANY LIMITED AUDITED ABRIDGED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2008

DUNDALK PORT COMPANY LIMITED

CONTENTS

Page

Directors and other information

1

Statement of directors' responsibilities

2

Independent Auditors' reprot to the shareholders

3

Independent Auditors' report to the Shareholders

4-5

Abridged balance sheet

6

Notes to the abridged financial statements including Statement of Accounting Policies

7-12

DUNDALK PORT COMPANY LIMITED DIRECTORS AND OTHER INFORMATION

Shareholders

Minister for Finance Fintan O'Brien John Lumsden Minister of CMNR Minister of Transport Pearse O'Hanrahan Leo McCauley Seamus Keelan Noel Lennon Michael McCabe James Cousins Kevin Meenan Frank Allen Rosemary Farrell Niall Kehoe Frances Rock Seamus Belton

Directors

Secretary Chief Executive Officer Company number Registered Office

Freda Murphy » Frank Allen 356183 Harbour Office Quay Street Dundalk; Co Louth O'Hare Finnegan McGahon Chartered Accountants & Registered Auditors First Floor, Block 1 Quayside Business Park Mill Street Dundalk; Co Louth Quay Street Dundalk; Co Louth Bank of Ireland Clanbrassil Street Dundalk; Co Louth Ulster Bank Clanbrassil Street Dundalk; Co Louth

Auditors

Business Address

Bankers

Solicitors

Esther McGahon, McGuinness & Company Kilgar House; Jocelyn Street Dundalk; Co Louth

DUNDALK PORT COMPANY LIMITED STATEMENT OF DIRECTORS' RESPONSIBILITIES FOR THE SHAREHOLDERS FINANCIAL STATEMENTS The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable Irish law and Generally Accepted Accounting Practice in Ireland including the accounting standards issued by the Accounting Standards Board and published by

the Auditing Practices Board in the UK and Ireland. Irish company law requires the directors to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing those financial statements, the directors are required to: - select suitable accounting policies and then apply them consistently - make judgements and estimates that are reasonable and prudent - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors confirm that they have complied with the above requirements in preparing the financial statements. The directors are responsible for keeping proper books of account which disclose with reasonable accuracy at any time thefinancial position of the company and to enable them to ensure the financial statements are prepared in accordance with accounting standards generally accepted in Ireland and with Irish statute comprising the Companies Acts 1963 to 2006 and all Regulations to be construed as one with those Acts. They are responsible for ensuring that the company otherwise complies with the provisions of those Acts relating to financial statements in so far as they are applicable to the company. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Where financial statements are to be published on the web, the directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. In so far as the directors are aware: - there is no relevant audit information (information needed by the company's auditors in connection with preparing their report) of which the company's auditors are unaware, and - the directors have taken all the steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. On behalf of the board on 16th April 2009

Pearse O'Hanrahan

-2-

DUNDALK PORT COMPANY LIMITED AUDITORS' REPORT TO THE COMPANY PURSUANT TO SECTION 18(3) OF THE COMPANIES (AMENDMENT) ACT. 1986

To the directors of Dundalk Port Company Limited. The following are copies of our report dated 17th April 2009 under section 18(4) Companies (Amendment) Act 1986 to the directors of Dundalk Port Company and our report dated 17th April 2009under section 193 Companies Act 1990 to the members of that company for its financial year ended 31 December 2008. Report of the auditors under section 18(4) Companies (Amendment) Act 1986 We have examined the abridged accounts on pages 6 to12, together with the financial statements of the company for the year ended 31 December 2008 to be laid before the Annual General Meeting, which form the basis for those abridged accounts. Respective responsibilities of directors and auditors The directors are responsible for preparing abridged accounts in accordance with Sections 10 and 12 of the Companies (Amendment) Act 1986. It is our responsibility to form an independent opinion as to the company's entitlement to the exemptions claimed in the director's statement and whether the abridged accounts have been properly prepared in accordance with those sections. Basis of opinion We have carried out the procedures we considered necessary to confirm, by reference to the audited financial statements, that the directors are entitled to annex abridged accounts to the annual return and the abridged accounts have been properly prepared from those financial statements. The scope of our work for the purpose of this report does not include examining or dealing with events after the date of our report on the full financial statements. Opinion In our opinon the directors are entitled under Section 18 of the Companies (Amendment) Act 1986 to annex to the annual return of the company abridged accounts in respect of the year ended 31 December 2008, and those abridged accounts have been properly prepared to the provisions of Sections 10 and 12 of that Act. Other information On 17th April 2009 we reported, as auditors of the company, to the shareholders on the financial statements for the year ended 31 December 2008, and the full text of our audit report is reproduced on pages 4 to 5 of these financial statements.

O'Hare Finnegan McGahon Chartered Accountants & Registered Auditors Date: 17th April 2009

First Floor, Block 1 Quayside Business Park Mill Street Dundlak Co Louth

INDEPENDENT AUDITORS' REPORT TO THE SHAREHOLDERS OF DUNDALK PORT COMPANY FOR THE YEAR ENDED 31 DECEMBER 2008 We have audited the financial statements of Dundalk Port Company Limited for the year ended 31 December 2008 which comprise the profit and loss account, the balance sheet, the cash flow statement, the statement of total recognised gains and losses and the related notes. These financial statements have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and the accounting policies set out therein. This report is made solely to the company's shareholders, as a body, in accordance with Section 193 of the Companies Act, 1990. Our audit work has been undertaken so that we might state to the company's shareholders those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's shareholders as a body, for our audit work, for this report, or for the opinions we have formed. Respective responsibilities of directors and auditors As described in the statement of directors' responsibilities the company's directors are responsible for the preparation of the financial statements in accordance with applicable law and Irish Accounting Standards published by the Auditing Practices Board in the UK and Ireland. Our responsibility is to audit the financial statements in accordance with relevant legal and regulatory requirements and Auditing Standards promulgated by the Auditing Practices Board (UK and Ireland) and International Standards on Auditing (UK and Ireland). We report to you our opinion as to whether the financial statements give a true and fair view in accordance with Generally Accepted Accounting Practice in Ireland and are properly prepared in accordance with the Companies Acts 1963 to 2006. We also report to you whether in our opinion: proper books of account have been kept by the company; whether, at the balance sheet date, there exists a financial situation requiring the convening of an Extraordinary General Meeting of the company: and whether the information given in the Directors' Report is consistent with the financial statements. In addition, we state whether we have obtained all the information and explanations necessary for the purposes of our audit and whether the company's balance sheet and its profit and loss account are agreement with the books of account. We also report, to the shareholders if, in our opinion, any information specified by law regarding directors' remuneration and directors' transactions is not disclosed and, where practicable, include such information in our report. We report to you whether in our opinion the information given in the directors' report is consistent with the financial statemtns. The information given in the directors' report includes that specific information presented in the Operating and Financial Review that is cross referred from the Business Review section of the directors' report. We are required by statute to report on whether the requirement of the Prompt Payments Act 1997 have been met.

-4-

AUDITORS' REPORT TO THE COMPANY PURSUANT TO SECTION 18(3) OF THE COMPANIES (AMENDMENT) ACT, 1986 (CONTINUED)

Basis of Opinion We conducted our audit in accordance with International Standards on Auditing (UK and Ireland) issued by the Auditing Practices Board. An audit includes examination, on a test basis, of evidence relevant to the amounts and disclosures in the financial statements. It also includes an assessment of the significant estimates and judgements made by the directors in the preparation of the financial statements, and of whether the accounting policies are appropriate to the company's circumstances, consistently applied and adequately disclosed. We planned and performed our audit so as to obtain all the information and explanations which we considered necessary in order to provide us with sufficient evidence to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or other irregularity or error. In forming our opinion we also evaluated the overall adequacy of the presentation of information in the financial statements. We have undertaken the audit in accordance with the requirement of the APB Ethical Standards Provisions Available for Small Entities, in the circumstances set out in the notes to the financial statements. Opinion In our opinion the financial statements: - give a true and fair view, in accordance with Generally Accepted Accounting Practice in Ireland, of the state of the company's affairs as at 31 December 2008 and of its loss and cash flows for the year then ended; and - have been properly prepared in accordance with Companies Acts 1963 to 2006 We have obtained all the information and explanations we consider necessary for the purposes of our audit. In our opinion the company has kept proper books of account. The financial statements are in agreement with the books of account. In our opinion the information given in the directors' report is consistent with the financial statements. In our opinion the company has been in breach of the requirements of the Prompt Payments Act 1997. The net assets of the company, as stated in the Balance Sheet, are more than half the amount of its called up share capital, and in our opinion, on that basis there did not exist at 31 December 2008 a financial situation which under Section 40 (1) of the Companies ( Amendment) Act, 1983 would require the convening of an extraordinary general meeting of the company. C v t w (^w* ^ First Floor, Block 1 Quayside Business Park Mill Street Dundalk Co Louth

O'Hare Finnegan McGahon Chartered Accountants & Registered Auditors Dated: 17 April 2009 This is certified a true copy. On behalf of the board

Pearse O'Hanrahan/Director Date: 17 April 2009

Frank >

DUNDALK PORT COMPANY LIMITED BALANCE SHEET AS AT 31 DECEMBER 200E, Year ended 31-Dec 2008 Year ended 31-Dec 2007

Notes Fixed Assets Tangible assets 3

€ 5,478,565

€ 3,013,830

Current Assets Debtors and prepayments Cash at bank and in Hand

347,382 1,265,546 1,612,928

471,193 1,072,748 1,543,941

Creditors: amounts falling due within one year Net current assets

4 (257,813) 1,355,115

(240,813) 1,303,128

Total assets less current liabilities Creditors: amounts falling due after more than one year

6,833,680

4,316,958

(1,126,969)

(901,146)

5,706,711

3,415,813

Capital and reserves Called up share capital Revaluation reserve Other reserves Profit and loss account

1,884,166 4,325,834 73,204 (576,493)

1,287,010 2,015,445 73,204 40,154

Shareholders' funds - equity interests

5,706,711

3,415,813

The directors have taken advantage of the abridged disclosure exemptions conferred by Section 10 and 12 of the Companies (Amendment) Act, 1986 on the grounds that the company is entitled to the benefit of those exemptions as a small company. The abridged accounts were approved by the Board and authorised for issue on 16 April 2009 and signed on itsjsehalf by

Frank All Director

P.O'Hanrahan Chairman Director

DUNDALK PORT COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2008 Note 1 - Accounting Policies Basic of Preparation of Financial Statements The financial statements have been prepared in accordance with accounting standards generally accepted in Ireland and Irish statute comprising the Companies Acts, 1963 to 2006. The financial statements have been prepared in accordance with accounting standards [S.205A(2) of the Companies Act 1990 (inserted by S.41 Companies (Auditing & Accounting) Act 2003)}. Accounting convention The financial Statements are prepared under the Historical Cost Convention. Turnover Policy This comprises revenue from charges to port users, dredging and from rents. Tangible fixed assets and depreciation Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost or valuation, less residual value, of each asset systematically over its expected useful life, as follows: Quays Warehouse Buildings Pilot Boats Plant Office Furniture Office Equipment Warehousing Equipment Dredger & Equipment Not Depreciated 2% Straight Line 4% Straight Line 12.5% Straight Line 12.5% Straight Line 12.5% Straight Line 12.5% Straight Line 12.5% Straight Line 12.5% Straight Line

In the case of pilot boats, plant and office furniture and equipment, the rate of depreciation is that estimated to reduce the value, net of depreciation, to nil at the end of their useful life. In the case of land or buildings, the rate is that chosen to write off the expenditure or the amount of the revaluation over an acceptable period. The tangible fixed assets were revalued at €5,534,000 on 4 March 2008 and are included in the accounts at the revalued amount. The valuation was carried out by an independent valuer, Laurence Gunne of Clanbrassil Street, Dundalk, Co Louth.

DUNDALK PORT COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS(CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2008 Financial Assets Investments held as current assets are stated at the lower of cost and net realisable value.

Foreign Currencies The accounts are expressed in Euro. Transactions during the year have been translated at the rate of exchange ruling at the date of the transaction. Assets and liabilities denominated in foreign currencies are translated into Euro at the rates of exchange ruling at the balance sheet date. The resulting profits or losses are dealt with in the profit and loss account.

Pension Costs Provision is made for liability for pensions payable to former or dependants of employees of Dundalk Harbour Commissioners. Three employees who have had service with Dundalk Harbour Commissioners before the formation of Dundalk Port Company do not make Superannuation contributions. Arrangements for the establishment of a pension fund for these employees are under discussion with the Department and will be expected to include provision for the proportion of pensions arising from service to the commissioners prior to the formation of Dundalk Port Company. Amounts provided out of profits of previous years which may be surplus to the requirement to fund pensions to retired former employees are retained as part funding for liabilities which may arise in the future for present employees. Employees where service dates from after the formation of the company may contribute to P.R.S.A.s. Government Grants Capital grants received are credited to issued shares. Grants towards revenue expenditure are released to the Profit and Loss account as the related expenditure is written off.

Deferred Taxation Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more, tax with the following exceptions: Provision is made for tax on gains arising form the revaluation ( and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold; Provision is made for deferred tax that would arise on remittance of the retained earnings of overseas subsidiaries, associates and joint ventures only to the extent that, at the balance sheet date, dividends have been accrued as receivable;

DUNDALK PORT COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS(CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2008 Deferred Taxation continued deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deffered tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Dredging The cost of routine or maintenance dredging projects is charged to the profit and loss account as incurred. Other dredging expenditure is capitalised and written off over its useful economic life.

DUNDALK PORT COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS ( CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2008 Note 2 - Directors and their interests The directors who served during the period and their interests in the company are as stated below: Pearse O'Hanrahan Leo McCauley Seamus Keelen Noel Lennon Michael McCabe Frank Allen James Cousins Kevin Meenan Rosemary Farrell Niall Kehoe Frances Rock Seamus Belton

The sharesholders in the company are as follows:Ordinary shares 31/12/08 01/01/08 John Lumsden 1 1 Fintan O'Brien (Dept. of Marine) 1 1 Michael Guilfoyle 1 1 Minister for CMNR 870,363 870,363 Minister for Transport 636,967 159242 The directors retire from the board by rotation in accordance with the Articles of Association and, being eligible, offer themselves for re-election.

Note 3 - Fixed Assets

Tangible fixed assets € 3,618,773 325,121 1,970,585 (89,192) 5,825,287

Cost Additions Revlauations Disposables At 31 December 2008

DEPRECIATION At 01 January 2008 Revaluations On disposals Charge for the year At 31 December 2008 NET BOOK VALUE At 31 December 2008 , 5,478,565 604,943 (359,989) (56,380) 158,148 346,722

-10-

DUNDALK PORT COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS(CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2008 Note 4 - Creditors: Amounts falling due within one year 2008 € Current Account Visa Account Loan Accounts Trade Creditors Creditors (Warehousing) Creditors (Dredger) Expenses Creditors Taxation Tenders returnable PRSA Non-Contributory Pension fund 5,688 70,088 13,711 35,717 31,774 53,202 (2,219) 830 49,022 257,813 2007 € 36,479 106 29,070 12,005 46,263 20,748 46,259 2,386 1,181 1,093 45,223 240,813

Note 5 - Creditors: Amounts falling due after more than one year

Year ended 2008 € 956,786 170,183 1,126,969

Year ended 2007 € 701,007 200,139 901,146

Pension Fund Bank Loans

Note 6 - Share Capital 2008 € Authorised 1,552,564 Ordinary shares of €1.25 each 1,940,705 2007 € 1,315,705

The company increased its authorised share capital during the year by 500,000 Ordinary shares @ €1.25. Allotted, called up and fully paid 1,029,608 Ordinary shares of €1.25 each 477,725 Ordinary shares of €1.25 each

1,287,010 597,156 1,884,166

1,287,010 ^ 1,287,010

DUNDALK PORT COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2008 Note 7 - APB Ethical Standard- Provisions for Small Entities In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the Revenue Commissioners and assist with the preparation of the financial statements. Note 8 - Accounting Periods The current accounts are for a full year. The comparative accounts are for a full year. Note 9 - Approval of financial statements The financial statements were approved and authorised for issue by the board on the 16 April 2009.

-12-

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