Irish Continental Group — Net Asset Value 2019

Apr 11, 2019

National Storage Mechanism | Additional information

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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 €28.9 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 (€7.7 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