I hold 1,284 Barlo shares, bought when Barlo went public many moons ago. I think I paid £850 for 1,000 shares. I knew Barlo was taken over last year but was not completely aware of details. I waited for some correspondence from someone but none came.

I recently contacted Computershare Investor Services regarding the position of Barlo shares. It informed me that Barlo was taken over by Sarcon and that it was necessary for me to accept the offer as Barlo shares are no longer tradable. It informed me I was on a dissenters' register pending acceptance of the offer of €0.48 per share. I am sure all of the information from Computershare is correct.

However, a number of questions arise vis-a-vis small shareholders like me who, over the years, have seemingly foolishly invested sums of monies in Irish companies.

I was never informed of the Sarcon takeover. I was never told I was a dissenter.

Is this another con like the sale of Eircom to Valentia/ Vodafone where the small shareholder has no choice?

Are there any Stock Exchange controls/safeguards to ensure that small investors' rights are protected?

I held my Barlo shares for at least 15 years as an investment in Irish industry just to be hoodwinked by some crowd called Sarcon, whoever they might be. Could Government legislation be changed to stop this practice?

Mr P.B., Waterford

While, as a general rule, I have great sympathy for small shareholders who are more often seen by the companies as a hindrance rather than a valued investor, it is also true that shareholders do have a responsibility to manage their portfolio of stocks and keep an eye on the companies in which they are investing.

As you say, the takeover of Barlo was hardly a surreptitious exercise. Chief executive Dr Tony Mullins had spent close to a year fussing over a management buyout.

When it did come, the management offer was quickly seen as being on the low side. The battle for the company quickly gained headline attention with entrepreneur Dermot Desmond and subsequently Seán Quinn, head of the sprawling Quinn Group, getting involved.

Last March, Dr Mullins conceded defeat and Mr Quinn walked away with the spoils.

All this was very public knowledge. More importantly, none of it could take place without shareholders being explicitly informed.

In the first place, details of Dr Mullins offer would have been circulated to all shareholders. The subsequent offer by Mr Quinn's Sarcon vehicle would also have been circulated.

Everyone on the share register, including yourself, would have had a copy of the offers sent to the address on the share register - the address you gave at the time you bought the shares.

Of course, if you changed address since then, there is no way the company registrar, who maintains the share register, could know unless you informed them.

If you didn't hear from the company, it's because it doesn't have your current details. For the same reason, you would not have heard that you were now deemed to be a "dissenter".

Is this a con? Absolutely not - nor for that matter was the Eircom/Valentia deal. Companies get bought and sold just like their shares. The price paid reflects the circumstances at the time. The 48-cent-a-share offer, while leaving you at a loss, was 20 per cent ahead of the 40 cent a share the company's management wanted to pay.

As to whether the shareholder has a choice, the answer is yes - up to a point. The shareholder has the right to accept or reject any offer. These are the stock exchange protections for small shareholders you talk about.

However, when a bidder acquires 80 per cent of the shares of the company, there is a provision that allows them to compulsorily acquire the rest of the shares.

This happened here. While there are always shareholders who feel victimised in such situations, it is really a measure designed to ensure that the new owners are not forced to contend with a rebellious rump of investors that could frustrate their development of the company.

There is no question of hoodwinking. If anything, Sarcon ensured that shareholders got a better deal than the company's own management was prepared to offer.

You can, if you wish, refuse to tender your shares for sale but you are really only hurting yourself. The shares cannot be traded and you are currently 48-cent-a-share poorer by failing to take up the Sarcon offer.

Vodafone

I have a small number of Vodafone shares that I would like to sell. My father had Vodafone shares which he sold last year after reading your article in The Irish Times. He did not keep the paper cutting which had the address in the UK that one can send their shares to be sold. Would you still have this address?

Mr D.H., email

The company's registrar, Computershare Investor Services, operates a postal share-dealing service, available only to those people holding less than 1,000 shares and looking to sell the entire holding. It costs £12.50 or €19.

It runs from Computershare in Bristol. The address is: Computershare Investor Services plc, PO Box 82, The Pavilions, Bridgwater Road, Bristol, BS99 7NH, England.

Phone them first on 0044 870 7020198 to check on the documentation required.

The sale proceeds can be paid to you in euro or sterling.

Please send your queries to Dominic Coyle, Q&A, The Irish Times, D'Olier Street, Dublin 2 or e-mail to dcoyle@irish-times.ie. No personal correspondence will be entered into.