Among the interested observers of the outcome of the Kingspan AGM in Cavan at the start of this weekend will have been British housing minister Michael Gove.
Among his other responsibilities, the minister for “levelling up” has been trenchant in his dealings with companies about their attitudes towards remediating costs for the terrible Grenfell tragedy of 2017, when 72 people were killed and another 74 injured, 20 of them seriously.
Kingspan, a global leader in insulation and building solutions, has acknowledged some of its K15 product was used in the 24-storey apartment block in North Kensington, but maintains it was used incorrectly and without its knowledge.
The company has agreed to meet with Mr Gove’s officials after he wrote seeking an urgent discussion on proposals for contributing to the cost of cladding repairs following the company’s “record profits”.
Kingspan has said it would pay its share of remediation costs “in circumstances where we have responsibility for the inappropriate use of K15 in buildings, and its safe retention cannot be supported by testing”.
The British will have noticed the trading update that the group’s liquidity is “very strong with in excess of €1.5bn in cash and undrawn committed facilities”.
Equally impossible to miss is Kingspan’s decision to delist from the London Stock Exchange because share trading there is a small percentage of its overall activity.
While this might seem to be a good moment to introduce some perceptual distance from Britain, the nettle of the Grenfell settlement will have to be grasped later in 2023.