JEFFERSON Smurfit director Mr Dermot Smurfit (below) has raised £825,000 after selling 500,000 Smurfit shares in the market at 165p each. The sale reduces Mr Smurfit's stake in the company to 5.3 million shares or 0.49

per cent of the total equity.

In another disclosure to the Stock Exchange, chairman Dr Michael Smurfit has given 4,000 shares as a "gift" to an undisclosed person, while Mr Alan Smurfit has bought 10,000 shares at 172p each to bring his stake to 4.6 million shares or 0.43 per cent.

Another director, Mr Paddy Wright, bought 21,174 shares at 175p each to bring his stake to 1.06 million shares or 0.1 per cent, Mr David Austin acquired 18,332 shares to take his stake to 569,738 shares while finance director Mr Ray Curran acquired, 17,848 shares to bring his stake to 47,278 shares.