Irish Continental Statement Re Completion Of Vessel Sale

 
TIDMICGC 
 
 
   COMPANY ANNOUNCEMENT 
 
   Sale of M. V. Oscar Wilde 
 
   Irish Continental Group plc ("ICG") announces that it has entered into a 
bareboat hire purchase agreement for the sale of the cruise ferry "Oscar 
Wilde" to MSC Mediterranean Shipping Company SA. 
 
   The total gross consideration for the sale is EUR28.9 million, payable 
in instalments over 6 years, up to 2025. Delivery to the buyer is 
expected to take place during April 2019. 
 
   The "Oscar Wilde", built in 1987, was acquired by ICG in 2007 and was 
operated by its subsidiary Irish Ferries on the Ireland -- France route. 
The proceeds less the net book value of the Oscar Wilde (EUR7.7 million) 
and related disposal costs will result in a profit on disposal which 
will be reported as part of the 2019 financial results of ICG. 
 
   END 
 
   11 April 2019 
 
   Enquiries: 
 
   Eamonn Rothwell, CEO                  Tel +353 1 607 5628 
 
   David Ledwidge, CFO                     Tel +353 1 607 5628 
 
   Q4 Public Relations                         Tel +353 1 475 1444

(END) Dow Jones Newswires

April 11, 2019 02:00 ET (06:00 GMT)

Irish Continental (LSE:ICGC)
Historical Stock Chart
From Jun 2024 to Jul 2024