THE chairman of the Granada hotels and leisure group, Donegal born Mr Gerry Robinson, has raised over £525,000 after selling Granada shares in the market. Mr Robinson has told the Stock Exchange that he sold 57,500 Granada shares at 914p each last Friday. Mr Robinson retains just over 300,000 Granada shares, worth over £2.7 million at the current market price.

A spokesman for Granada said that the sale of the shares was to raise cash for the restoration of Mr Robinson's house in Ireland. The Granada chief executive has a holiday home in Rossnowlagh, Donegal which he visits regularly throughout the year.