Jump to content

Firm closing


finlo
 Share

Recommended Posts

Who actually owns the Laxey Mills?. I notice our Minister states that the Gov is not a shareholder, yet I thought it was wholly owned by our Government,  Is the Lady being deceptive

Clare Barber, she say---: ‘However, the role for my department is a tricky one in this situation. Our aim is to support the wheat producers, but we are not shareholders, or involved with the strategic direction or operations of Laxey Glen Mill.

Link to comment
Share on other sites

21 minutes ago, mollag said:

Who actually owns the Laxey Mills?. I notice our Minister states that the Gov is not a shareholder, yet I thought it was wholly owned by our Government,  Is the Lady being deceptive

Clare Barber, she say---: ‘However, the role for my department is a tricky one in this situation. Our aim is to support the wheat producers, but we are not shareholders, or involved with the strategic direction or operations of Laxey Glen Mill.

Farmers cooperative (I think)

Link to comment
Share on other sites

31 minutes ago, 0bserver said:

Farmers cooperative (I think)

No.  According to the accounts:

14  The Isle of Man Government is the ultimate controlling party, by ownership of 100% of shares and the ability to appoint the board.

In actual fact, as we keep on being told that the IOMG isn't a single legal entity, I suspect this actually means that the shares are owned and controlled by the Treasury.

  • Like 2
  • Thanks 1
Link to comment
Share on other sites

1 minute ago, Roger Mexico said:

No.  According to the accounts:

14  The Isle of Man Government is the ultimate controlling party, by ownership of 100% of shares and the ability to appoint the board.

In actual fact, as we keep on being told that the IOMG isn't a single legal entity, I suspect this actually means that the shares are owned and controlled by the Treasury.

Thanks for that. 

Link to comment
Share on other sites

31 minutes ago, Roger Mexico said:

No.  According to the accounts:

14  The Isle of Man Government is the ultimate controlling party, by ownership of 100% of shares and the ability to appoint the board.

In actual fact, as we keep on being told that the IOMG isn't a single legal entity, I suspect this actually means that the shares are owned and controlled by the Treasury.

Sounds very Boris   "but we are not shareholders, or involved with the strategic direction or operations of Laxey Glen Mill." this seems at odds with, " The Isle of Man Government is the ultimate controlling party, by ownership of 100% of shares and the ability to appoint the board."

Why the mis-direction I wonder?

  • Like 2
Link to comment
Share on other sites

21 minutes ago, mollag said:

Sounds very Boris   "but we are not shareholders, or involved with the strategic direction or operations of Laxey Glen Mill." this seems at odds with, " The Isle of Man Government is the ultimate controlling party, by ownership of 100% of shares and the ability to appoint the board."

Why the mis-direction I wonder?

Trying to distance themselves for when it goes tits up!

Link to comment
Share on other sites

32 minutes ago, mollag said:

Sounds very Boris   "but we are not shareholders, or involved with the strategic direction or operations of Laxey Glen Mill." this seems at odds with, " The Isle of Man Government is the ultimate controlling party, by ownership of 100% of shares and the ability to appoint the board."

Why the mis-direction I wonder?

I think she's speaking on behalf of DEFA and indicating that that Department doesn't control LGM or appoint its Directors or whatever.  There's also the complication that: 

Flour sales include a subsidy totalling £41,000 (2020: £41,000) from the Treasury Division of Isle of Man Government which is the ultimate beneficial owner and controlling party of the company. At the balance sheet date £Nil remained due (2020: £Nil). Rent was received during the year from the Department of Environment Food and Agriculture in respect of the Salmon Hatchery in the sum of £10,502.

(Note 13 of Accounts)

  • Thanks 1
Link to comment
Share on other sites

17 minutes ago, Passing Time said:

It'll never happen - either the commissioners will object or the usual rabble of shopkeepers will...

Are there enough shopkeepers in Laxey to form a rabble...? 😂

  • Like 1
  • Haha 1
Link to comment
Share on other sites

22 minutes ago, Passing Time said:

It'll never happen - either the commissioners will object or the usual rabble of shopkeepers will...


Commissioners won't object where jobs are being created (or at least saved)

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
 Share

  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...