EX-99.1 2 efc6-2643_ex991.txt EXHIBIT 99.1 Sea Containers Ltd, Sea Containers Services Ltd and Sea Containers Carribean Inc Consolidated cash flow forecast Monthly summary ($ in millions)
------------------------------------------------------------------------------------- Forecast ------------------------------------------------------------------------------------- Oct-06 Nov-06 Dec-06 Jan-07 Feb-07 Mar-07 Apr-07 May-07 dates-> 16 Oct to 28 Oct to 2 Dec to 30 Dec to 27 Jan to 3 Mar to 31 Mar to 28 Apr to 27 Oct 1 Dec 29 Dec 26 Jan 2 Mar 30 Mar 27 Apr 1 Jun Receipts Accounts receivable 0.1 2.0 8.9 3.8 2.5 2.7 1.9 0.8 ------------------------------------------------------------------------------------- Total receipts 0.1 2.0 8.9 3.8 2.5 2.7 1.9 0.8 ------------------------------------------------------------------------------------- Disbursements Net payroll costs 0.2 (0.8) (0.9) (0.1) (1.4) (1.7) (0.5) (0.5) Payroll taxes - - (0.3) (0.3) (0.3) (0.3) (0.3) (0.2) Property rental costs (0.1) (0.1) (1.7) (0.1) - (1.6) (0.1) (0.1) Insurance costs - (0.4) (0.2) (0.1) (0.4) (0.2) (0.1) (1.0) Other administrative & selling (0.1) (0.4) (1.5) (1.8) (1.5) (1.8) (1.3) (1.0) Capital expenditure - (0.2) - (0.1) - - - - Professional fees (0.6) (0.9) (2.8) (2.8) (3.1) (3.0) (3.0) (2.7) U.S. Trustee fees - - - (0.02) - - (0.02) - ------------------------------------------------------------------------------------- Total disbursements (0.6) (2.9) (7.4) (5.4) (6.7) (8.4) (5.3) (5.5) ------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------- Net cashflow (0.5) (0.9) 1.5 (1.6) (4.2) (5.8) (3.5) (4.8) Opening cash 49.7 49.1 48.2 49.8 48.1 43.9 38.2 34.7 ------------------------------------------------------------------------------------- Closing cash 49.1 48.2 49.8 48.1 43.9 38.2 34.7 29.9 ===================================================================================== ---------------------------------------------------- Forecast ---------------------------------------------------- Jun-07 Jul-07 Aug-07 Sep-07 Oct-07 dates-> 2 Jun to 30 Jun to 28 Jul to 1 Sep to 29 Sep to 29 Jun 27 Jul 31 Aug 28 Sep 2 Nov Receipts Accounts receivable 0.3 0.4 0.2 0.8 0.4 ---------------------------------------------------- Total receipts 0.3 0.4 0.2 0.8 0.4 ---------------------------------------------------- Disbursements Net payroll costs (0.6) (0.1) (1.0) (1.5) (0.9) Payroll taxes (0.2) (0.2) (0.2) (0.2) (0.2) Property rental costs (1.7) (0.1) (0.1) (1.7) (0.1) Insurance costs - (0.1) (0.1) (0.2) (0.1) Other administrative & selling (1.0) (0.9) (1.0) (1.0) (1.0) Capital expenditure - - - - - Professional fees (2.6) (9.4) (0.9) (0.7) (0.7) U.S. Trustee fees - (0.02) - - (0.02) ---------------------------------------------------- Total disbursements (6.1) (10.8) (3.2) (5.2) (3.0) ---------------------------------------------------- ---------------------------------------------------- Net cashflow (5.8) (10.5) (3.0) (4.4) (2.6) Opening cash 29.9 24.1 13.6 10.6 6.2 ---------------------------------------------------- Closing cash 24.1 13.6 10.6 6.2 3.6 ====================================================
Notes 1. Certain assets of the Debtors and their non-debtor subsidiaries may be sold during the next twelve months which may result in additional available cash for the Debtors. The sale of these assets are not included in the above cashflow due to the uncertainty of both timing and value of sale. The Debtors' current estimate of the net realisable value of these assets, after repayment of any secured debt and payment of any transaction costs, that may be realised over this time period is approximately $70m to $140m. This valuation is subject to change and it is not clear at this stage whether these proceeds will be available to the Debtors. 2. No funding for subsidiary operations is included, on the basis that this will require further court approval. 3. The Creditors' Committee's professionals have not yet been retained, however, the cashflow includes anticipated fees in relation to these professionals. 4. Material changes to the cashflow statement are likely should the restructuring process continue for longer than anticipated.