Having had a change of heart and deciding he would consider selling Sark Electricity Ltd to Chief Pleas, its owner now says he has four potential buyers interested.
Alan Witney-Price said earlier this week that he would “consider an approach” from Chief Pleas if Sark’s government genuinely wants to negotiate a purchase price.
But he also said that he would not alter course on his legal action against Chief Pleas, the Electricity Price Commissioner, and other parties in Sark, regarding the ongoing challenges that his business and he personally has faced.
Mr Witney-Price has repeatedly stated that he fears for the future of Sark’s electricity supply if Chief Pleas takes over it. He’s also previously given examples of how he has been thwarted in his attempts to maintain the island’s electricity infrastructure that he owns.
Now, having been advised by a Sark resident that he does not personally need to hold any responsibility for what happens in the island, Mr Witney-Price has decided that he will sell SEL. However, he has not said that he will sell it to Chief Pleas.
Despite the States of Guernsey agreeing to lend Chief Pleas £1.5million so it can buy SEL, Mr Witney-Price has only said he will consider an approach from Sark’s government.
He has also encouraged anyone else who may want to buy Sark’s only power provider to get in touch with him.
“Sark Electricity Limited is pleased to be able to confirm that there are now four expressions of interest in the acquisition of the business. If there are any other interested parties; this is the time to make such interest known,” he said.
While Mr Witney-Price has not said who the interested parties are, he added: “Of the now four expressions of interest, I personally consider only three of them as legitimate bidders able, under acceptable terms to the parties, to complete the purchase of SEL in a timely manner.”
Mr Witney-Price also confirmed he is contact with Chief Pleas, through Conseiller John Guille who is the Chairman of Sark’s Policy and Finance Committee.
“(I have) given Conseiller John Guille my personal assurance that any bid made in good faith by Chief Pleas will be genuinely considered based upon it merits. My sole focus is to ensure that the successful bidder has, not only, the funds to complete the transaction but also has the skills and access to the significant capital that will be required to deliver the change programme that Sark deserves in a timely fashion. These works have been delayed for too long and this approach is in the best interest of Sark and its residents.”
