Member Info for Kaeren

As a lot of readers of the board like to reference historical events, here is a little light reading.

Former chairman of the Isles of Scilly Steamship Company slams current ... https://www.cornwalllive.com/news/former-chairman-isles-scilly-steamship-2403516.amp

Went back this a.m to reread something that caught my eye a while back.

Chairman's statement, page 2 , third para from bottom. IOSSC Company's house.

'Cash of course is king and given that the funding in prospect from government requires a 10 % match from the group.......

Is one to assume any/all applications will require this 10 % match ?

To be pursuing so avidly, JW must be very confident funding incoming.

Of course it will initially. That's not the point of the exercise. It is futile to pursue private financing and the resultant fares when a monopoly is removed by the introduction of an additional ( H&W) ferry. It is basic economics , the only way IOSCC can service the debt would be to increase fares further and it would only result in a further decline in bookings.

No shares traded via assest match hence my post about what will shareholders do.

We have no idea if that is a typo by the individual ( Harl ? Or IOSSC ) who posted it.

Anyway it isn't the most interesting thing I'd focus in on. I've only been sent an extract.

In it H&W say the offer is 20% below current share price.. as they will have a fast service in place from Spring 2024 and this will impact the revenues of IOSSC and potentially have a significant impact on the SP. .. so the offer is attractive.

Now I wonder how many shareholders will read that and think how very dare they, or blow this for a game of cards I'm out out!

Also ...

You maintaining confidentiality of this initial proposal & entering into an NDA .... no announcents until closing.

Fun and games indeed.

Haven't written exactly ..

but it is in public domain.

#Who dunnit?🙄

#Smoothoperatoressentialinchoppywaters

See news article to left of share chat above. 'Friday '

The game of chess continues , it is imo definitely designed & timed to ensure maximum doubt raised about feasibility of ability to repay a commercial loan without a monopoly, prior to take up such loan. Additionally prior to pulling the trigger and signing the contract for the new vessel.

Distracts from the real issue, right now that is the finance deal over the line.

How very odd that SHORTly after the RNS , new freinds appear.

Must be very difficult to make an offer if you have no cash !

Although why the hell we would want to pursue this is beyond my logic.

The current inflated fares subsidise the airline.. why would we want anything to do with that !!!

Just been watching pics of Beijing Airport. Nobody!

Yeah agree HC she's been priming herself for a move , higher lows..... bodes well .

China 🇨🇳 hospital admittances .. kids .. off the chart . 100 % the reason for today's rise.

I'm 100 % behind the introduction of a company wide share scheme. Would also assist in retention of staff . Recognise the 'grafters'.

Contract wins.

https://www.navalnews.com/event-news/indo-pacific-2023/2023/11/austal-birdon-secure-australian-landing-craft-contract/

Yep Si & I won't be here whining if I haven't.

* Arun has definitely been in an extended closed period with the SeaRose negotiations, 3rd Cory barge contract and forever imminent finance deal. However, this hasn't been the case indefinitely & I would most certainly like to see him purchasing a chunk. It is entirely his personal choice though and I have seen directors buys to pump sp's , meet LTIP's and precluding a raise , so overall I don't get to excited by them , nor broker notes.

Aim rules section one no 21 then go to glossary and read closed period & diff ruled.

AIM Rules for Companies | London Stock Exchange https://docs.londonstockexchange.com/sites/default/files/documents/aim-rules-for-companies.pdf

Chrisatrdg , like most things in life timing is important. The Bod know the finance deal is severely impacting the SP, they know some will sell up , others will wait it out. It cannot have escaped their notice that the level of frustration amongst shareholders is extremely high. I believe it is incoming and want to be holding when the news drops. Others may try their luck elsewhere and buy back in. I think JW & Arun are at least as keen as us to see it get over the line and preferably in 2023 !

Makes no difference to my long term strategy with my holding . I believe that we are down to dotting the I's and crossing the T's.

Time will tell.

Evening Halfpenny re the ships currently at H&W Belfast Yard, I posted the inf at 12.13 and subsequently you kindly typed it out. However, it would appear that the Ben- My- Chree won't be having the planned sabbatical. Off to the dry dock will be the order of the day.

We mere mortals know not why , unlike our 'Unicorn ' posters who specialise in board pollution.

https://www.bbc.com/news/world-europe-isle-of-man-67488682

Something going on in China , hospitals can't cope with no of children with pneumonia , spreading across Asia , Vietnam badly impacted. Away from office , can't research. Don't know if it's the new JN covid or something totally unrelated.

Without reading up , couldn't agree/disagree just read about it once a while ago when venturing into a VCT.

Should read any form of Mass share dilution .