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Treasury Minister reaffirms confidence in Pinewood deal

The Treasury Minister remains convinced that the investment in Pinewood was a shrewd move.

Eddie Teare has been challenged about it again in the House of Keys this week.

South Douglas MHK Kate Beecroft wanted to know the reasons for a dip in share value since the start of May.

But Mr Teare told her, that while they had gone down, on news of Pinewood's expansion plans, they had risen to £4.80 a share.

They were bought at a cost of £2.50 a share two years ago.

Mr Teare believes turning a £12.5 million pound investment into £23 million, makes good business sense.

 

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