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Irish Continental (ICGC)

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Friday 27 April, 2018

Irish Continental

Irish Continental Group plc : Completion of Vessel Sale (Jonathan Swift)

Irish Continental Group plc : Completion of Vessel Sale (Jonathan Swift)

Completion of Vessel Sale

27 April 2018

Irish Continental Group plc ("the Company") is pleased to announce that, further to the announcement issued on 30th January 2018, the vessel "Jonathan Swift" has been delivered to buyers Balearia Eurolineas Maritimas S.A.

The agreed consideration of €15.5 million less brokers commission, payable in cash, has been received in full and will be utilised for general corporate purposes.

The "Jonathan Swift" was delivered to the group in 1999 at a cost of €38.8 million. The disposal has generated a book profit for ICG of approximately €14.0 million.

The vessel will be replaced by the "Dublin Swift" (formerly Westpac Express). She has completed her extensive refurbishment programme and entered service today on the company's Dublin - Holyhead route. The "Dublin Swift" was built in 2001 and will provide an increase in capacity and a significant improvement in the interior fitout with new dining options for our customers.

END

 

Enquiries:

Irish Continental Group plc

Eamonn Rothwell, CEO:            +353 1 607 5628

David Ledwidge, CFO:               +353 1 607 5628

 




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Source: Irish Continental Group plc via Globenewswire


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