Intermediate Capital Share Discussion Threads

[lbo] 24/6/2009 14:37

Irish Continental Group shares slipped 3 per cent to €9.20 after it said passenger numbers fell 9.7 per cent during the first 25 weeks of the year.

[lbo] 24/6/2009 10:44

AIB SHARES came under pressure yesterday due to investor fears over the bank's exposure to troubled property developer Liam Carroll. The stock finished down 5 per cent at €1.65.

It emerged on Monday that Mr Carroll is being personally sued for €60 million by Irish Nationwide Building Society. AIB is understood to have one of the largest exposures arising from his developments.

Indeed, brokers noted that any stocks with which Mr Carroll is connected suffered steep falls yesterday. For example, ferry operator Irish Continental Group (in which he has a 29.2 per cent stake) lost almost 10 per cent – or €1 – to close at €9.50, while Greencore (of which he owns 29.9 per cent) fell by just under 7 per cent to €1.22

[lbo] 23/6/2009 13:08

A statement of affairs for Mr Carroll and his wife Róisín on October 31st, 2008, supplied to INBS had shown assets of €259.5 million, bank debt of some €149 million, annual rental income of €9.85 million and annual interest of €7.9 million.

[lbo] 22/6/2009 17:16

Developer sued by Irish Nationwide



One of the country's largest developers, Liam Carroll, is being personally sued for €60 million by Irish Nationwide Building Society arising from guarantees over loans made to his company Aifca Ltd.

[lbo] 23/5/2009 13:01

Falling freight figures highlight decline in trade

[lbo] 22/5/2009 07:39

Port traffic down sharply in Q1

[lbo] 15/5/2009 08:39

AFTER SPEAKING to Irish Continental Group's (ICG) long-serving chief executive Eamonn Rothwell yesterday about results in the year to date (see page 2), it's clear that he hasn't given up hope that a successful bid for the ferry company might be just over the horizon.

Three weeks ago, Rothwell and Philip Lynch's Moonduster group conceded defeat in their plan to make an offer for ICG, much to the disappointment of all involved. They couldn't secure the necessary finance in the current economic climate and there were also differences with the independent directors over the valuation of the business.

ICG has been the subject of a takeover saga for the past two years, with property developer Liam Carroll, who owns just over 29 per cent, the third interested party in all of this.

At one point in 2007, ICG shares were changing hands at €24 each, but they now bob around the €10 mark follow the collapse of the Rothwell/Moonduster bid.

Strictly speaking, Rothwell and Moonduster are precluded from making a fresh offer for ICG for 12 months, although the Irish Takeover Panel has the power to waive this derogation if it sees fit

[lbo] 14/5/2009 13:56

ICG: Revenues down 25pc in four months





MSCI announced after close last night the results of the scheduled May 2009 semiannual index review. In total, 78 securities will be added to and 99 securities
deleted from the MSCI global standard indices. There are no Irish changes to the
standard series. There are, however, three deletes from our European construction
and materials universe: HeidelbergCement, Italcementi and Wienerberger. There
are no Irish additions to the small-cap series, but Irish Continental Group and
McInerney Holdings are to lose their places. All changes are effective as of the
close of Friday May 29th.



revenues for the first four months tumbled 25pc to €76.2m as freight and passenger numbers declined. effect of the decline was partly offset as the ferry operator slashed 24pc off its cost base to €68.2m on the back of lower costs. EBITDA in a seasonally slow start of the year came to €8m, down from €12m for the same period in 2008. net debt has fallen sharply from €43.7m at the end of December to €38m," said Bloxham Stockbrokers. "For full-year 2009, we now expect EBITDA to exceed €50m."
.

[lbo] 04/5/2009 16:30

Losses mount as ICG bid collapses

[lbo] 29/4/2009 10:46

Moonduster drops ICG offer bid

[lbo] 24/4/2009 11:25

New deadline for €14 bid at ICG



Irish Continental Group boss Eamonn Rothwell and the Philip Lynch-led Moonduster consortium.who own 41pc of the company between them. Mr Carroll who owns a further 29.8pc stake spent an average of €24 a share two years ago amassing his stake, with financing from Allied Irish Banks. €14 a share or about €350m. This stands at a discount to yesterday's closing price of €14.50 and the €18 level that the independent directors are understood to have outlined as a starting point. Last year ICG reported revenue of €343m, down 3.6pc on 2007, while earnings before interest, tax, depreciation and amortisation fell 17.7pc to €66m.

AIB seeks to guide ICG bid through troubled waters

[lbo] 16/4/2009 23:49

Bidders told to make an offer by Monday for ferry company or wait for another 12 months

[lbo] 03/12/2008 17:02

Six-figure judgment against Liam Carroll-controlled firm

[lbo] 23/10/2008 10:04

Liam Carroll settles €140,000 Danniger debt

[lbo] 26/6/2008 11:39

Irish Continental Group is looking ripe for a re-rating

[hybrasil] 05/10/2006 08:05

It upsets me to see how long for that I have been spouting rubbish on these boards.
However having sold out in 1994, I bought back in 2 weeks ago and am already up.
I have to confess my 2003 logic is the only reason for buying back in

[hybrasil] 03/3/2003 08:28

The results are out shortly. All this talk of war is helping nobody but I expect these results will be good and I expect a substantial dividend jump.

[hybrasil] 13/2/2003 10:32

Have a look at this. The Irish Independent ran an article saying that the likely buy out price was in the 10-12 Euro range ( ie they were the sort of numbers that the companies income would easily justify.). The share price is currently 6.85 Euro. The company has bought back a ton of shares at prices up to 7.10 Euro. The MD has made serious,serious share purchases. I now believe he holds nearly 8%.
They have constantly been touted in the Irish Papers as a likely buy out target. They give a dividend yield of 2.6%. Results are due out in a few weeks time.