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ed to tor.! been prepared by UBS Raga Sen S p A South Melee: UBS SOAP Alnca ffotyl Locke tRecastrinn No 19950)1114507) is a manta ce bh JSE Larded to South Moan F Vturn (whoops ard the Bad Exchange ol Soffit Affro UBS South Woe (Ply) Lamed n an wahonsed Finannal Senates Provider Bends of ne postal aid ph
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— Now for the finale you have been waiting for — cash flow. The only substantial cash income that Landmark can achieve in the short run is sales in South Padre and fees from Barbados. Under the bank agreement in Barbados, we cannot declare a dividend until after the bank is fully repaid. So, in short
for the finale you have been waiting for — cash flow. The only substantial cash income that Landmark can achieve in the short run is sales in South Padre and fees from Barbados. Under the bank agreement in Barbados, we cannot declare a dividend until after the bank is fully repaid. So, in short, Landm
s, etc., it had approximately=$4 million net remaining. In 2004 we purchased South Pad=e Island, our joint venture with the Lloyd Bentsen family in South Texa=, from the fund run by Lewie Ranieri, and on a friendly basis, separate= our relationship with Lewie. In 2006 we invested $4 milli=n to purchas
greatest fina=cial crisis in my lifetime. Therefore, I made the decision=20 not to cut management back to what was necessary for Barbados and Sou=h Padre, but to use it to look for new opportunities and to be prepared=to become a major player when the market foreclosed on what I knew would=be billions
Entities connected to both South and Padre

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