Patrick

Dear Kate The Public Accounts Committee discussed your letter at its meeting yesterday. The Committee has decided not to undertake an investigation at this stage. However, if you have any further evidence to submit which might alter the priority given to this topic, you may submit it at any time. "At this stage", interesting.

Press Release 2 February 2013 LibVan Anticipates Positive PAC Decision Liberal Vannin MHKs, Peter Karran and Kate Beecroft, wrote to the Public Accounts Committee on 8th January requesting that they investigate the investment into Pinewood Shepperton plc and the appointment of Pinewood Film Advisors LLP as investment manager for the Media Development Fund. The Committee will be making their decision on Wednesday, 6th February. The Public Accounts Committee prioritises referrals by taking into account the following:  the significance or potential significance of the matter for the reputation of Tynwald or the Island more generally;  the credibility of any allegations the Committee has been asked to investigate;  quantum; the sum of public money involved;  levels of public concern; and  whether the issue could be referred to a Policy Review Committee or another existing Standing or Select Committee or the Branches. Peter Karran and Kate Beecroft believe that the referral satisfies all of the criteria and the Public Accounts Committee have no grounds for refusing this request. LibVan are therefore confident that the decision on 6th February will be favourable. Once accepted by the Committee, standing orders require that no further questions are to be asked by MHKs in the House of Keys or Tynwald. LibVan believe that this is a small price to pay if it means that these matters will be fully investigated by the Public Accounts Committee. “ENDS” Roy Redmayne Chairman Liberal Vannin Party T: 824361 M: 309694 royredmayne@manx.net Note to Editors: Letter of 8th January to the PAC attached Word Count: 218

If they are wanting to build these houses, which will be glorified back drops, where is IOMs positiion as a location shoot? Purely an investment then, what is Christian and the film fund's purpose?

Posted earlier in this thread, 10000 shares. Steve Christian acquired 10,000 Ordinary Shares at a price of 275 pence per Ordinary Share and, following this announcement, Steve Christian's beneficial holding of Ordinary Shares is 10,000, representing 0.02 per cent. of the issued share capital.

14.12.10 Minister Bell We have had a number of financial successes and artistic successes over the years. We have been very lucky, but what we must not lose sight of, and it has been a fairly static statistic for quite some time, 90% of all British-related independent films lose money. A very, very few films actually make money in their own right. So finding a winner out of the vast array of scripts that pass through Isle of Man Film’s office periodically is an exceptionally difficult thing, and when Mr Karran talks about needing guarantees, there is no such thing as a guarantee in the film industry. It is one of the most volatile, unpredictable industries that you could possibly imagine. We get $100 million films which lose money. You get $½ million dollar films which make hundreds of millions of dollars. (Mr Lowey: Billy Elliot.) It is not an exact science that you can guarantee that you will get results on. Sounds like 'high risk' to even the tangerine emperor

The air in the mountains is pretty thin at times so maybe he is feeling a bit light headed.

The managing company are charging us to manage, The agents charge a fee, where am I wrong? Read it properly before you come out with another smart arse comment as I didn't mention shares anywhere.

Profit made in UK pays tax in UK Managing company is UK, Agents are UK, Basically wev'e given the money to the UK.

You would be welcome at any time.

Strange she would not speak about it in the cab because "it's a manx taxi driver", unlikely but worrying she was worried.

The kind of low level 'investigative journalism' we are used to here. Nothing new or informative with a dig at the old boys network we would expect. Must have been a slow news day when they commissioned that. Cringle was interviewed and a fireman, no spokesman from the government or corporation, maybe they weren't asked.

The piece or Summerland itself?

As the lady said about the 'memorial', pathetic.