From: "Jeffrey E." <[email protected]> To: "John de Jongh, Jr" Subject: Re: USVI opportunities -- AYH Date: Mon, 23 Mar 2015 12:38:20 +0000 lets pursue On Mon, Mar 23, 2015 at 6:37 AM, John de Jongh, Jr c 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 EFTA00861611