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Author Gavster-NBC     View Profile     Add to favourites     Ignore
Date posted 2009-03-06 15:23
Subject Email back from Mecom 
Votes for this Posting Voted UP 1 time.
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Well, the news is not as I thought this morning.

Here is my email back. We call all now rightly assume that the earnings before tax
EBITDA will be less than my fag pack style calc of 114.

A bit disappointing really.

Here's the email.

Thank you for your mail below.

I must say I have some sympathy with you on the wording which does become a bit legalistic given the various ongoing items. It is unavoidable and has taken quite some time to draft.

I will try to simplify - the disposals in their own right will not solve the covenant issues but will help in negotiations with the banks and VSS and the directors remain confident that the company will be able to reach an agreement with the lending banks and VSS.

Hope this helps.

Kind regards

Jonathan

[email protected]

-----Original Message-----
From: Gavin King [mailto:[email protected]]
Sent: 06 March 2009 11:39
To: info
Subject: The recent news item - letter to shareholders



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