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by Isle of Man Crimestoppers

Calls to Isle of Man Crimestoppers helped police investigating six incidents during the last quarter of 2011, according to figures released by the charity. The information supplied related to a wide range of both criminal and motoring offences, enabling the police to take direct action to address concerns raised by the public in a number of cases. Between October and December information provided via Crimestoppers resulted in two arrests leading to court appearances, and one person being summonsed to court.

The positive impact that Crimestoppers is having in combating crime continued into the New Year as calls resulted in one arrest and a further detected crime in January 2012.
Stuart McCudden, Chair of Isle of Man Crimestoppers, said:

“These figures show that information provided to Isle of Man Crimestoppers has a real impact in helping police to investigate crimes and in ensuring that offenders are brought to justice.”

Isle of Man Crimestoppers provides a way for all members of the community to pass on information about crime anonymously by ringing the Crimestoppers hotline 0800 555111. All calls are handled by the UK Crimestoppers Call Centre, so Isle of Man callers can therefore be assured of their complete anonymity.

Isle of Man Crimestoppers is part of the UK Crimestoppers 'family' and is an independent Manx charity dedicated to fighting crime across the Island. The charity focuses on local issues that are important to the community - improving crime detection, enhancing quality of life, and giving residents and visitors alike 'Freedom to Flourish'.

The charity is always looking at new ways to encourage the community to play an active role in the fight against crime, and in 2011 announced its support for the ‘Fearless’ campaign 
aimed at showing young people how they can help to solve crimes by providing information anonymously.
The Fearless website - http://www.fearless.org - includes details of the Crimestoppers hotline but also includes options to pass on information online via a secure web page.

- ENDS -

In Other Isle of Man News

If you'd like to send any information or news releases to us then please feel free to do so and we would be more than happy to consider sharing your news with the Isle of Man!

Send your Isle of Man news to:webmaster@manx.net

© Manx Telecom Ltd 2012

Manx Telecom Ltd, Isle of Man Business Park, Cooil Road, Braddan, Isle of Man IM99 1HX
Registered in the Isle of Man Reg no.5629V Vat Reg no GB 003-2919-12

Read more here:
Crimestoppers’ Figures Show How Anonymous calls are Helping Police

by Department of Economic Development

ISLE of Man based Collins Stewart Wealth Management has been named ‘UK Offshore Investment Management Company of the Year’ at the Citywealth Offshore Awards ceremony at the Landmark Hotel in London.
 
The annual awards cover a range of offshore sectors and services and they are voted for by an independent panel of industry experts and clients of the businesses.
 
Minister for the Department of Economic Development, John Shimmin MHK, commented:
 
‘We are pleased to see Isle of Man companies such as Collins Stewart Wealth Management being recognised at such events as the Citywealth Offshore Awards. Winning this award once again demonstrates that companies in the Isle of Man are being recognised as outstanding in their sectors.
 
Dermot Hamill, Head of Wealth Management on the Isle of Man, commented:
 
‘We are very proud to receive this accolade not least because it was, in part, voted for by our clients.  This is a great way to start the year and comes soon after being named Asset Manager of the Year and Best Advisory Stockbroker by Spear’s and Shares Magazine respectively.’

 
-ENDS-

In Other Isle of Man News

If you'd like to send any information or news releases to us then please feel free to do so and we would be more than happy to consider sharing your news with the Isle of Man!

Send your Isle of Man news to:webmaster@manx.net

© Manx Telecom Ltd 2012

Manx Telecom Ltd, Isle of Man Business Park, Cooil Road, Braddan, Isle of Man IM99 1HX
Registered in the Isle of Man Reg no.5629V Vat Reg no GB 003-2919-12

View original post here:
Isle of Man Company Named UK Offshore Investment Management Company of the Year

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Increasingly high electricity rates on Cyprus are causing serious financial difficulties for expats

Statistics released earlier this month revealed that medium-sized households in Cyprus paid an average electricity price of 0.1731 euros per kilowatt-hour in 2011 the highest rate in the European Union, and around 26 per cent more than the EU average.

That price, however, is believed to have been calculated before an additional 6.96 per cent levy which was introduced to compensate for the effects of an explosion which destroyed the island's main power station at Vasiliko in July, and further increases including a two per cent hike in VAT to 17 per cent in March have been announced this year.

Expats who moved to the island in search of a cheaper life under the sun say they are increasingly struggling to pay their bills, a situation made worse by the worldwide economic slowdown. Although Cyprus has weathered the storm better than many European economies, the island's unemployment rate is at around 9.3 per cent, with those expats who depend on a sterling income, such as pensioners, having been severely hit by poor exchange rates over the past few years.

Two Facebook groups set up against the growing tariffs have attracted over 7,000 members, and are filled with expats and locals alike sharing stories of how they have been forced to stop using virtually all their appliances to avoid going into the red.

Briton Penelope Hearns, who works for the news portal CyprusExpat , says she knows of several couples, living in one-bedroom apartments, who have been handed bills of €560-plus for just one month and bad feeling, she says, she is mounting.

“Expats and local Cypriots are coming together, and exchanging information via Facebook, and have asked the EU to look into the matter. Soon protests will be staged. Consumers feel they are being ripped off, and have had enough,” she said.

Anger is being chiefly directed towards main electricity provider the Electricity Authority of Cyprus (EAC), which is accused by many of essentially operating a monopoly.

“The semi-government owned EAC is the sole supplier of electricity to the people of Cyprus, and as such are in a position to effectively hold the people to ransom,” said Jas James, who set up the Facebook group One Voice Facebook Group Against the Electricity Authority of Cyprus with two fellow expats. "The EAC can charge whatever they want, they can apply any extra charges they want to without fear of losing business, so the people must either pay what is dictated to them or simply get cut off. This is not acceptable.”

Another Briton with a home in Cyprus, who did not want to be named, said that it was time for action to be taken. “In my view electricity is not a luxury but a basic commodity for everyday life. I think the current levy issued after the Vasiliko disaster should be removed immediately, since the problem was not caused by consumers…and the government should immediately remove VAT altogether from electricity bills, or at least reduce VAT charges to the lowest possible band, which is currently five per cent.

"Finally the Cypriot government should investigate and deal with the many different ways in which consumers' money is being wasted by the EAC, and commence a competitive tendering process to open up the electricity supply market.”

The EAC claims that electric power generation on Cyprus is more expensive due to the island's small size (meaning a lack of economies of sale) geographical isolation from other grids, and because it is dependent on petroleum rather than alternatives like natural gas.

Petroleum is not only more expensive but, because it is less environmentally-friendly, can result in large fines being imposed from the EU which are then passed onto consumers.

In an explanatory leaflet which it provided for Telegraph Expat when asked for a comment, the EAC said that describing it as a monopoly was unfair, because "the fact that EAC has no competition is most likely due to the fact that natural gas is not yet available for power" something which, it added, was "not the fault of EAC, but the state".

Read the original post:
Expats struggle with high cost of electricity in Cyprus

ENGLEWOOD, Colo.--(BUSINESS WIRE)--

Liberty Interactive Corporation (Nasdaq: LINTA, LINTB) (“Liberty”) today announced that its board of directors has approved the recapitalization of its common stock into shares of the corresponding series of two new tracking stocks, Liberty Interactive and Liberty Ventures.

“We are pleased to announce the Board’s approval to recapitalize Liberty into two tracking stocks,” said Greg Maffei, President and CEO of Liberty. “We expect this recapitalization to highlight each tracking stock’s operations and financial aspects of the attributed assets, provide greater investor choice, and raise capital while maintaining an optimal capital and tax efficient structure for Liberty.”

The Liberty Interactive tracking stock group initially will have attributed to it QVC, the eCommerce companies, a 34% stake in HSN, approximately $500 million of cash, $2 billion principal amount of QVC’s bonds, QVC’s $2 billion bank credit facility and approximately $1.1 billion principal amount of Liberty’s publicly traded senior notes and debentures. Cash to be attributed to Liberty Interactive and Liberty Ventures will come from various sources including cash on hand, cash from operations and proceeds from QVC’s bank credit facility with an expected balance at closing of $1.3-1.5 billion.

The Liberty Ventures tracking stock group initially will have attributed to it Liberty’s interests in Expedia, TripAdvisor, Time Warner, Time Warner Cable, AOL, Interval Leisure Group, Tree.com and Liberty’s green-energy investments, approximately $1.25 billion of cash, additional cash raised from the exercise of Liberty Ventures subscription rights, and approximately $3 billion principal amount of Liberty’s publicly traded exchangeable debentures.

In the recapitalization, Liberty stockholders will receive one share of the corresponding series of Liberty Interactive group tracking stock for each share of series A or series B Liberty common stock they own and one share of the corresponding series of Liberty Ventures group tracking stock for every 20 shares of series A or series B Liberty common stock they own. In addition, stockholders will also receive a subscription right to acquire one additional series A or series B share for every three shares of series A or three shares of series B Liberty Ventures tracking stock they receive in the recapitalization.

The subscription rights are being issued to raise capital for general corporate purposes of the Liberty Ventures tracking stock group, including investment in new business opportunities to be attributed to that group. The subscription rights will:

Enable the holders to acquire shares of the applicable series of Liberty Ventures common stock at a 20% discount to the 20 trading day volume weighted average trading price of the Liberty Ventures tracking stock following the closing of the recapitalization Become publicly traded, once the exercise price has been established Expire forty trading days following the closing of the recapitalization

The proposed recapitalization is intended to be tax-free to stockholders and its completion will be subject to various conditions, including the affirmative vote of a majority of the voting power of Liberty’s outstanding shares present in person or by proxy at the stockholder meeting, voting together as a single class, and the receipt of a tax opinion from counsel. Subject to the satisfaction of the conditions to closing, the recapitalization is currently expected to occur this summer.

This announcement and Liberty’s fourth quarter and year end 2011 earnings will be discussed on a conference call today at 11:00 a.m. (ET).

Please call Premiere Conferencing at (888) 452-4034 or (719) 325-2145 at least 10 minutes prior to the call. Callers will need to be on a touch-tone telephone to ask questions. The conference administrator will provide instructions on how to use the polling feature.

Replays of the conference call can be accessed through 2:00 p.m. (ET) on March 1st, by dialing (888) 203-1112 or (719) 457-0820 plus the passcode 1032754#.

In addition, the conference call will be broadcast live via the Internet. All interested participants should visit the Liberty Interactive Corporation website at http://www.libertyinteractive.com/events to register for the web cast. Links to the press release and replays of the call will also be available on the Liberty Interactive website. The conference call and related materials will be archived on the website for one year.

About Liberty Interactive Corporation

Liberty (Nasdaq: LINTA, LINTB) owns interests in a broad range video and online commerce businesses including QVC, Provide Commerce, Backcountry.com, Celebrate Interactive, Bodybuilding.com, Evite, and Expedia.

Forward-Looking Statements

This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about the proposed recapitalization of Liberty’s common stock, a related rights offering and other matters that are not historical facts. These forward-looking statements involve many risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements, including, without limitation, the satisfaction of conditions to the proposed recapitalization. These forward looking statements speak only as of the date of this press release, and Liberty expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in Liberty's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Please refer to the publicly filed documents of Liberty, including the most recent Form 10-K, for additional information about Liberty and about the risks and uncertainties related to Liberty's business which may affect the statements made in this press release.

Additional Information

Nothing in this press release shall constitute a solicitation to buy or an offer to sell shares of Liberty’s proposed new tracking stock or Liberty’s existing common stock. The offer and sale of shares of the proposed tracking stock will only be made pursuant to an effective registration statement. Liberty stockholders and other investors are urged to read the registration statement to be filed with the SEC, including the proxy statement/prospectus to be contained therein, because they will contain important information about the issuance of shares of the proposed tracking stock. Copies of Liberty’s SEC filings are available free of charge at the SEC’s website (http://www.sec.gov). Copies of the filings together with the materials incorporated by reference therein will also be available, without charge, by directing a request to Liberty Interactive Corporation, 12300 Liberty Boulevard, Englewood, Colorado 80112, Attention: Investor Relations, Telephone: (720) 875-5408.

Participants in a Solicitation

The directors and executive officers of Liberty and other persons may be deemed to be participants in the solicitation of proxies in respect of proposals relating to the approval of the issuance of the new tracking stock. Information regarding the directors and executive officers of Liberty and other participants in the proxy solicitation and a description of their respective direct and indirect interests, by
security holdings or otherwise, will be available in the proxy materials to be filed with the SEC.

Link:
Liberty Interactive Corporation Announces Plan to Recapitalize into Two Tracking Stocks