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Manx government sells half its Pinewood shares

 

The Manx government has sold almost half its shares in Pinewood film studios, for fifty per cent more than it paid for them.

The deal, which makes a net profit of £2.5 million, was announced on the London Stock Exchange this morning (31 March).

It reduces the government's holding in Pinewood plc from just under ten per cent to almost five per cent.

The government still holds shares valued at around £10.7m and Pinewood's management of the Island's Media Development Fund is unaffected by the sale.

Treasury Minister Eddie Teare says return on an investment is welcome news:

 

 

 

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