Conygar Investment Share Discussion Threads

[topvest] 29/1/2018 19:47

Conygar now have a development bias. They have spent too much for too long getting nowhere on their schemes. Not impressed.

[crooked lawyer] 27/1/2018 10:26

Any idea what is going to happen at the Port at Goodwick.???what are Stenas plans?

[crooked lawyer] 26/1/2018 17:21

Interesting about Freddie and Chris joining...I dont know whether to laugh or cry and Preston leaving...well maybe he is getting out while the going is good. If relationship between Conygar and Stena are now somewhat awkward as they must be...then what will happen to Holyhead Marina Development. Stena have just put in a HRO to the MMO for massive re development at Holyhead Port....

[skyship] 26/1/2018 12:56

...and Preston Rabl giving up on his old chum also not a good sign!

[igbertsponk] 26/1/2018 08:46

Nepotism appointment?

[crooked lawyer] 25/1/2018 18:17

marina abandoned

[crooked lawyer] 25/1/2018 17:08

Conygar has today pulled out of its Marina Development at Fishguard.

Full statement is available to view
FISHGUARD WATERFRONT DEVELOPMENT
RNS Number : 9296C
Conygar Investment Company PLC(The)
25 January 2018


For immediate release

25 January 2018

THE CONYGAR INVESTMENT COMPANY PLC

FISHGUARD WATERFRONT DEVELOPMENT

The Conygar Investment Company PLC ("Conygar") announces that it is unable to progress its proposals for a mixed-use marina development at Fishguard, West Wales.

Outline planning permission for the development was granted in April 2012, subject to the signing of a S106 Agreement by both Conygar and Stena Line Ports Limited ("Stena"), the Fishguard harbour operator. The planning consent gave Conygar permission to construct 253 residential apartments, a publicly-accessible promenade, a public slipway and a visitor centre and Stena to build a substantial platform that would facilitate the potential expansion of the existing port.

Conygar has been informed by Stena that they do not wish to have any further involvement in the proposed marina development and do not wish to proceed with the reclamation works of the harbour. Stena state that they are concerned that the marina development will interfere with the operation of the harbour and their ferry operations. They will also not support the promotion of the Harbour Revision Order, which is necessary to progress the development.

Stena's withdrawal means that the project cannot proceed.

Conygar will therefore write off £2m of incurred costs in the results for the six months ending 31 March 2018. This write off equates to 3 pence per share.

Robert Ware, Chief Executive of Conygar, commented:
 
"We are disappointed that after nearly seven years of working in partnership with Stena, they have decided to withdraw their support for the Fishguard Waterfront Development, making it impossible for us to proceed with the plans.

We firmly believe that the development would have been of significant benefit to the local community and to businesses in and around Fishguard and Goodwick."

Enquiries:

The Conygar Investment Company PLC
Robert Ware / Ross McCaskill: 020 7258 8670

Liberum Capital Limited (Nominated Adviser and Broker)
Richard Bootle / Henry Freeman: 020 3100 2222

[topvest] 12/12/2017 19:41

Results out today. Not impressed. Poor returns for anyone other than the directors who continue to do very nicely. We should get £2 back eventually I guess, but pedestrian pace really.

[davidosh] 04/12/2017 12:32

The final results should be out next week so hopefully much more information given out then

[crooked lawyer] 02/12/2017 14:04

Well the Disposal at Ashby...anyone anythoughts? Good or Bad news?

[crooked lawyer] 19/11/2017 09:23

btw..a recent foi to pcc has confirmed no negotiation regarding the land CIC need are being considered by pcc or the crown estates for the Marina. So any PR plans ie those in the Ocean Lab in Goodwick are worthless.

[lochgarman] 06/6/2017 22:42

700 houses in Haverfordwest!!??....its ridiculous.

[crooked lawyer] 05/6/2017 17:33

I see the Western Telegraph have posted that CIC have pulled out of the Retail and Cinema side of the Slade Development at Haverfordwest. The plan for the 700 plus houses is to continue...subject to a buyer to develop and build them.

[crooked lawyer] 27/5/2017 17:43

I see horizon has decided not to build the worker accommodation on the Rhosgoch site but on the site at Wylfa. 46mill isnt a lot of money in CIC's piggy bank to pay for all the development work...ie 40mill to build the development platform at Fishguard..and with EU money about to dry up...how do you see the future for Conygar?

[crooked lawyer] 30/4/2017 17:19

CIC still has a charge against them...anyone any idea what this relates to?

[crooked lawyer] 13/3/2017 13:02

First they need to get the licence from NRW to dredge. Secondly they need another licence re the archaeology which will be posted as a Public Notice and 6 week consultation process shortly. Thirdly they will need a HRO Harbour Revision Order which they have not yet applied for. They cant apply for a HRO if they havent got a Marina Operator and if they are serious about a Marina and not just a housing estate then they need a HRO. They have asked NRW to leave the Marine Licence in place at Pembroke Dock so that they can sell it off as a going concern. So before they can build anything or put a spade in the ground they need the Marine Licence to dredge and the Marine Licence yet to be applied for relating to the preservation in situ of the wrecks...so we are not exactly about to start work in the immediate future. Back to the wonderful UK and internet access. Comments welcome

[lochgarman] 03/3/2017 21:40

yes..its positive

[strathroyal] 28/2/2017 18:49

Aren't we due some news on the Holyhead project this week, which should also be positive?

[crooked lawyer] 28/2/2017 17:28

well ppl u are quite right...this is what happens when u dont read the fine print...the joys of being somewhere with limited internet access....I stand corrected...totally!!...well, no idea what to make of it...will be interested to see what happens with Regional REIT limited....Question is I suppose is.... Will they invest the money back into the company and develop their Wales projects out or what?. They seem to have only been interested in paying themselves healthy salaries and NOT paying out their shareholders...so...wait n see.

[crooked lawyer] 25/2/2017 15:39

What do you mean NO Debts...they have a net debt of 27 million