Providence Resources - Re: PVR Stream Log - Actually the article is a...

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22:06 22/01/2018

Actually the article is a long profile of Nick Furlong, and there is just a passing mention as to why Nick Furlong has invested in Providence and INM. It mentions that despite his reluctance to talk to the press, Furlong won't be slow to make his opinions known if things do not turn around for these two companies. The article tells us that Nick Furlong grew up in Dun Loaghaire in the 1950s, and qualified as an accountant in the 1970s, though he never professionally practised. After a brief spell in Britain, in the 1980s, he established his own business installing cable television feeds around Dublin. Brough Xtravision in 1993, and sold it in 1997 for a reported 20 million. He also set up a company called the Pilton group, making profits of 70 million by 2005. Sold Pilton group to DCC for 42 million. After that set up Pageant. Sold his stake in One51 in 2015 for 36 million. He lost money on Zamano. But he stepped in twice with money to keep things going in this company. He is also active in the property game through his investment vehicle Melcorpo. The article mentions that he is not afraid to get involved in companies if he feels that things are not going right. So after all this, people are now wondering why he is getting involved in two of Ireland's most troubled companies.