From: "John de Jongh, Jr" To: "'jeffrey E."' <[email protected]> Subject: RE: USVI opportunities — AYH Date: Mon, 04 May 2015 09:37:20 +0000 Good morning. Just checking in on this project and anything to be done. John From: jeffrey E. [[email protected]] Sent: Monday, March 23, 2015 8:38 AM To: John de Jongh, Jr Subject: Re: USVI opportunities -- AYH lets pursue On Mon, Mar 23, 2015 at 6:37 AM, John de Jongh, Jr Good morning. Just following up on interest in pursuing AYH and whether Andrew is willing to sell? John From: jeffrey E. [mailto:[email protected]] Sent: Thursday, December 4, 2014 2:40 PM To: John deJongh Subject: Re: USVI opportunities ayh will take time, andrew will not focus until feb wrote: On Thu, Dec 4, 2014 at 12:53 PM, John deJongh < wrote: Good afternoon Jeffrey, Just a quick follow-up on our meeting last week. If you can get Andrew to 'give' on the amount of debt carried by AYH, then I think it is a worthwhile transaction and allows for some new debt to cover the years of deferred maintenance and capital needs. Right now it cannot handle the current debt, management fees and maintenace/capital needs. The approximately $13.2 million on the property is carrying the debt of other IGY entities (the 2007 acquisitions) and this provided the valuation and means to draw out the cash. As we discussed, I think the need is at a minimum $34 million to address the docks and upland and rebranding efforts. I think we can make this work to your benefit and meet EDC requirements. Let me know. The other opportunity represents a local conglomerate with companies in insurance, wholesale beverage distribution and real estate ownership & management; total receipts in the area of $60 million, with net income somewhere are around $3 million (net of depreciation). Each is a strong company in its niche, and there are related party transactions that result in management fees. Each company has strong manager. Not sure if th