The family interests of Athlone Extrusions' late managing director, Mr Pat Ryan, will have an £11.5 million holding when shares in the plastics company begin trading next week.

The family interests are the biggest shareholder in Athlone with a stake of 27.4 per cent after the placing of the new shares. They also sold £1 million worth of shares in the flotation.

Chief executive, Mr Jimmy McGee, will have a stake of 7.7 per cent, worth just more than £3 million at the placing price. He also raised £690,000 ahead of the flotation when he sold 757,692 shares at the 91p placing price to five members of the Athlone senior management. Mr McGee has options over 2.2 million Athlone shares, exercisable at 39.3p each.

Mr McGee, together with the rest of the senior management, has given a commitment not to sell any more shares ahead of the publication of the financial results for the year ending September 1998.

The flotation document shows that Mr McGee is on an annual salary of £96,000 but also received dividend payments last year of more than £89,000 from a subsidiary company, Athlone Extrusions ABS, which holds the group's patents.

The third biggest individual shareholder is former Athlone chairman and Riada Stockbroker's managing director, Mr Pat Plunkett, whose 6.3 per cent of the company is worth £2.6 million at the placing price.

Mr Plunkett resigned as chairman ahead of the flotation and has been succeeded by former CRH director, Mr Jack Hayes. Mr Hayes receives a fee of £15,000 as well an emolument of £50,000 a year.

One senior manager, Mr Denis Collins, has sold 722,000 shares in the flotation to realise £657,000 and reduce his stake to 1.6 per cent while Mr Michael Cawley sold 343,000 shares and raised £312,000 although he retains a 2.4 per cent stake in the company.

While the placing brought 13 new institutions and three market-makers onto the share register, some of the institutions which supported the 1990 management buyout sold shares into the placing. Irish Life sold 600,000 shares but still retains an 8.3 per cent stake in the company. New Ireland, however, sold 1.2 million shares which means that its stake in Athlone has fallen from 3.8 per cent to less than 1 per cent.