Intermediate Capital Share Discussion Threads

[lbo] 17/11/2009 08:28

One big pump and dump!

Goodbody to sell Carroll's ICG shares at €12

[lbo] 10/11/2009 14:17

Sterling weakness remains an issue for ICG

[lbo] 10/11/2009 10:48

ICG revenues slide further

[lbo] 10/11/2009 10:46

Irish Continental profits hit by freight



A sharp fall in roll-on roll-off and container freight added to the weakness of the British pound sent revenues and profits sharply lower at Irish Continental Group (ICG) in the nine months to the end of September, its latest statement shows.

[lbo] 02/11/2009 13:56

Taxpayer may have to foot the bill for ICG misadventure

[lbo] 30/10/2009 21:37

Moonduster writes down investment in Irish Continental Group by €30m

[lbo] 29/8/2009 21:04

ICG calls for 10% cut in Dublin Port fee as profits fall

[lbo] 31/7/2009 15:11

Carroll firms' examiner bid fails


Six companies controlled by one of the country's largest property developers, Liam Carroll, have lost their bid to have an examiner appointed to them by the High Court.

At the Commercial Court this afternoon, Mr Justice Peter Kelly said he was refusing the application on the basis he was not convinced that the companies had proven that they met the legal test of having a reasonable prospect of survival.

[lbo] 17/7/2009 19:26

Six companies controlled by one of the country's biggest property developers, Liam Carroll, have told the High Court of their intention to apply to go into examinership.

[lbo] 01/7/2009 11:53

Dublin port tonnage fell 5.65pc in 08

[lbo] 25/6/2009 13:34

INBS pursuit of mega developer prompts a pre-NAMA drama
Carroll is first big developer to be pursued for personal guarantees

[lbo] 25/6/2009 13:05

ICG's AGM trading statemnet highlights the challenges facing ferry companies in Ireland. Revenue declines of 25% seen during the first four months of 2009 have continued into early summer, with RoRo volumes down 23% and container volumes back 27-29%. Passenger(-9.7%) and car (-5%) declines are more muted.

[lbo] 24/6/2009 15:37

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 11:44

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 14:08

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 18:16

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 14:01

Falling freight figures highlight decline in trade

[lbo] 22/5/2009 08:39

Port traffic down sharply in Q1

[lbo] 15/5/2009 09:39

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 14:56

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 17:30

Losses mount as ICG bid collapses

[lbo] 29/4/2009 11:46

Moonduster drops ICG offer bid

[lbo] 24/4/2009 12:25

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