Tulloch Construction, a company whose major shareholder is Tulloch Ltd, has been sold to Rok with Tulloch directors running the Rok business in Scotland. Tulloch Homes, which operated as a seperate company is retained. The main shareholders of Tulloch Homes being Tulloch Ltd. The monies gained from the sale have allowed Tulloch Ltd to purchase a significant shareholding in Rok. So to recap, Tulloch Ltd is now a major shareholder of Tulloch Homes and RoK plc so, in effect, Tullochs have been given monies from Rok Plc to purchase Rok Plc.
What I see from all this is a merger of two major construction companies, only its been carried out in such a way as not to involve the Monopolies and Mergers Commission.
Incidently, its David Sutherland that has the main shareholding of ICT though Tulloch Ltd also has an interest.