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Steam Packet to be sold

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19 minutes ago, b4mbi said:

It won't. 

Trams/trains/busses/iris /mea/pensions /education /health service etc beg to differ.

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Just now, finlo said:

So they had no fluidly of funds then?

Liquidity. Businesses don't hold £5m in an instant access current account. They hold sufficient liquidity to meet their working capital requirements, the rest of spare cash will be put on deposit to try and achieve a better return. 

It was just a cash management issue, not a shortage of cash!

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6 minutes ago, b4mbi said:

It won't. 

Post recorded for posterity. Just in case. :D

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If you go back and read the thread, you’ll find, contrary to the stuff being spouted here, recently.

The accounts are available because they have to be filed in UK.

The Park and Braemar reports.

The analyses of these by Phil Dearden who, I think is now. a SPCo director 

That the company had cash of £12 million at signing of the agreement

The amount owed by SPCo to its holding company and vice versa

Net assets value

Annual profits and turnover

The amount of pension debt, which was set off against total assets to  give net assets.

Edited by John Wright

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2 minutes ago, Non-Believer said:

Post recorded for posterity. Just in case. :D

Depends how you define "tits up"!!! :D

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18 minutes ago, John Wright said:

If you go back and read the thread, you’ll find, contrary to the stuff being spouted here, recently.

The accounts are available because they have to be filed in UK.

The Park and Braemar reports.

The analyses of these by Phil Dearden who, I think is now. a SPCo director 

That the company had cash of £12 million at signing of the agreement

The amount owed by SPCo to its holding company

Net assets value

Annual profits and turnover

The amount of pension debt, which was set off against total assets to  give net assets.

Well i hope to Christ your view of the situation trumps mine!

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3 minutes ago, finlo said:

Well i hope to Christ your view of the situation trumps mine!

That’s not a view, those are facts.

What the new owners do with it is another question altogether.

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18 minutes ago, John Wright said:

That’s not a view, those are facts.

What the new owners do with it is another question altogether.

Going on past performance the whole thing inspires little confidence in me.

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12 hours ago, finlo said:

Going on past performance the whole thing inspires little confidence in me.

That is the point everyone is making

Past performance is VERY GOOD!

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1 hour ago, NoTail said:

That is the point everyone is making

Past performance is VERY GOOD!

You may be confusing the past performance of the Steam Packet with the past performance of IoMG which is what I think Finlo is talking about.

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If there was a sweetener of reduced prices or a couple of free crossings or whatever like Eurotunnel I would certainly chip in.

But then the Eurotunnel flotation was in 1987 and it took them over 20 years to pay out their first divvy!

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Before Seacontainers bought it out there was a shareholder deal, the number depended on the size of shareholding. I’d certainly buy a few.

The executive club deal isn’t very good either. EasyJet plus gets you free seat allocation and extra cabin bags free. Pays for itself in 5 Returns. Brittany Ferries Club Voyage card gives 30% off standard fares and free breakfasts. Pays for itself on one return to Bilbao or Santander.

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