MR Ray McLoughlin, chief executive of James Crean, has a two year service agreement which entitles him to an annual salary of £200,000, plus health insurance, pension contribution and the provision of a vehicle.

This is revealed in the group's offer document containing details of the bid for the remaining minority shares in Inishtech.

His employment could be terminated at short notice "in certain circumstances on a change of control of Crean" but he would then be entitled to compensation.