Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Realise that, OT. But thanks for making it clearerer. Think I lost that bit in the edit. :)
SI it does also state in the RNLI article "The agreement is also to carry out some local repairs within the southwest region should they arise" so it is not just Appledore
I have been going through RNLI accounts and covid has caused quite a problems financially also maintenence wise so maybe they are look at cost savings via maintenence hubs around the UK but did not wish it to become public knowledge so soon.Jamie Chestnutt has only been in the job for 3 months so it could well be a misunderstanding.
However like everyone else i would like to hear HARLs side.
RNLI. "the framework agreement with Harland & Wolff Appledore Ltd shipyard for the six-monthly haul outs of Appledore’s all weather lifeboat"
Article. "Harland & Wolff have also agreed to maintain the village's lifeboat for free as part of the deal"
Without all the stuff they are now not doing, that's a cracking deal.
Could have been as simple as, we get a contract to build a pontoon for the RNLI and we'll do your local boat for free. And if you have any others in the area of any of our yards maybe we could get some repeat business in the future.
But no, had to big it up.
Would seriously advise any company using Devonlive or any of the 240 sites owned by Reach Plc for company news to proof read the article before it goes to print.
The newspaper articles are pretty much just quoting the RNS. Let’s just hope we get past this debacle and theres a major contract announcement prior to AGM
"A major deal has been struck which will see Appledore Shipyard repair, maintain and refurbish more than 400 Royal National Lifeboat Institution (RNLI) lifeboats."
https://www.devonlive.com/news/devon-news/appledore-shipyard-rnli-sign-deal-6175150
well....clearly others interpreted things the same way ..( I think stokey12 posted this link at the time of the RNS )
Brilliant dawski37 - I could not agree more with your comments & yes we need to remain positive & hopefully the current SP will soon be something of the past.Regards.
dawski37 ref 09.49 post If this was the first where a RNS was issued within a month of a placing that the contents have subsequently questioned then I certainly would not have written in the terms I did in my 05.48 post. We had the Triumph Subsea Services RNS where a LOI was referred to only for it to be subsequently cancelled. If it was only the usual anti JW crowd that was calling for his removal then I would say you may have a point but it is not. Myself and others who are normally supportive are calling for his removal which is indicative of a loss confidence in JW.
In your 09.49 post you state '.The Company is not going to fail and all of us (and that includes most of the II’s ) will soon start to recover losses…losses being the cause of such emotive postings of late .' That is a statement not supported by evidence. As JW only appears to issue a contract RNS when he is preparing a placing I do not see how the share price will move far as the market will always be expecting a placing after a contract RNS. It is worth noting that Seena Shah posted on LinkedIn that HARL will be doing a recruitment roadshow. When asked whether there was anything that could be shred about the contracts mentioned in the post JW responded with a flat No. I would have thought that if there are contracts which require a recruitment roadshow then a RNS would be justified but apparently not. On the basis of all the information I am aware of I do not see how the share price would improve to the extent that losses are recovered while JW is in charge.
MEANWHILE ........
The contract for Appledore ......worth in excess of £2 million by Herbosch-Kiere Marine Contractors Ltd for the the manufacture of the foundation, stairways and handrails of a steel pontoon for the RNLI Tower Lifeboat Station based under Waterloo Bridge
is no doubt under way..... Work is expected to span circa eight months and to be completed in June 2022.
Just been reading through the RNS from 8th November, this probably holds up better than a now deleted tweet.
'Appledore will be responsible for the repairs, maintenance and other works programmes defined by RNLI for its FLEET of lifeboats and other vessels'.
Note FLEET- not just the local lifeboat.
Lets hope the board make a statement on Monday to clear up any confusion.
So much utter pure drivel and tosh today !! As Lottie rightly posts “ this is just another storm in a tea cup “ and the Tweet has been responded to so as to clarify and emphasise that H&W do not and have never claimed exclusivity to RNLI repair work .I am informed that RNLI are happy with this.
More seriously the II’s now hold more than 60% of the voting rights here and are fully on board after recent Investor Events and the full take up of the Placement .
This Company IS “going places with JW and AR”….The Company is not going to fail and all of us (and that includes most of the II’s ) will soon start to recover losses…losses being the cause of such emotive postings of late .
Doomongers….please know and note that Methil is poised .It’s a huge yard..all the steel has been delivered,OK it needs treating for oxidisation after incorrect storage in Indonesia apparently ,but as soon as this is sorted ( not at our expense ) real fabrication starts …and the yard is ready and looking in great refurbished state thanks to JW ,William Duff and his wonderful highly experienced team up there. .Belfast is going to be busy busy in December and vibrant/exciting news is awaited ..so there we are ..do have a great POSITIVE THOUGHT weekend and be assured that the Board do value the small investor in the long term just as much as the big boys !! ..Lottie is the poster to read .He or she often says it spot on !!!!
Stokey, I agree on all counts. The stupid thing is, he didn’t even need to do it as it was released on the same day as the ML licence landed and the SP hardly moved.
We need a new leader, that is abundantly clear.
Having seen the posts with regards to the RNLI RNS and after this week's placing there are two questions that need addressing. The answers are depending on your viewpoint not necessarily the same.
Firstly, the question has to be asked is the current strategy of having two divisions, one IMSL responsible for pursuing the development of the IslandMagee cavern storage project. The other H&W running shipyards that apart from ship repair handles fabrication projects for the renewables sector, still an appropriate strategy. My view is that the answer is yes. After two years the strategy is starting to bear fruit. In addition if you look at the location of the four sites in relation to the location of offshore wind farms they are all well placed to exploit the growing wind energy market. This is also helped by the local content requirements in the various wind farm leases being issued by The Crown Estate and Crown Estate Scotland. It would seem inappropriate to exit this business at this time.
The second question that has to be answered is whether JW remains the best person to lead HARL going forward. My view is no. After the events of this week I do not believe that he retains the respect and confidence of a significant proportion of the private investors. He has made a number of missteps that have significantly undermined shareholder value. I would suspect that a number of private investors including myself are suffering from significant losses. JW seems to be intent on following a policy of only issuing an RNS in order to prepare for a placing. Such a policy is in my view unlikely to cause the share price to rise to anywhere that resembles fair value. In addition there appears to be a lack of attention to administrative matters that could reflect badly on the company. As an example the list of significant shareholders was in breach of the AIM rules not updated for almost a year. While JW is probably not directly responsible for this it indicates a lack of attention to detail.
I think in order to ensure that shareholder value is protected and improved we should explore how we can gather support to block JW's reappointment as a director when it comes up for a vote at the AGM. However, this should only be done in my view if there is a suitable candidate to replace him with a view to a possible move to the main market in 2023.