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Friday's meeting...Some one needs to ask JW if there will be another fund raise next year....as this is worrying shareholders and currently supressing the share price.....any answer than a 'NO'...will be suspect.
Roly, I'm noticing a striking similarity in the MO and recent consequences of JW and BJ the PM. Perhaps JW acquired BJ's skills when he visited Appledore?
Once trust is lost only a huge effort or contract can possibly salvage anything for the once loyal followers!
I really do hope that the larger institutional shareholders hold this BoD to account at the AGM, that they are properly challenged to explain performance and apply a healthy cynicism to tweets released.
Well the mezzanine deck had to be fabricated for the Entsha. So that counts.
Then there is the Black Sea project, the jackets and the pontoon.
But just bare in mind where this info is coming from and the timing. Anything at all posative, which it is, JW is going to be push out before the GM. So a bit of creative license is to be expected.
Afternoon Stokey i am guessing it is referring to shipwork at Belfast and Entsha as a fabrication contract.
oldtramp ref 15.10 post query what is the fabrication contract at Belfast. The post says 'That's all four of our sites delivering on commercial projects.' I do not recall anything being said about any fabrication contracts at Belfast. Unless the commercial project at Belfast is just referring to ship repair work.
The 5th fabrication contract ?
From linkedin text reads
We are pleased to share photos of first sparks flying in Arnish as they get to work on some boat landing offshore platforms. That's all four of our sites delivering on commercial projects.
https://www.linkedin.com/feed/update/urn:li:activity:6874342733901914112/
Stokey12, My own current opinion is that I have lost faith in the board for a few reasons, 1 Outright lies re not another fundraise for 12 months, and the RNLI rns, furthermore the CEO & CFO current salaries as per last reported accounts show that between them they earn about 8% of the current MKT CAP p.a. this is unheard of, you will struggle to find a better paid duo, those type of financial packages are reserved for fellows running main market companies that are producing profits, dividends and therefore shareholders value.,
Stokey , totally agree there am not supporting them when am holding a significant loss due to constant fund raises,lesson learnt here imho
I would like to know how they intend to pay off the leg- breakers in February.
Chrisatrdg ref 10.48 I am not going to support the Board regardless. These continual placings mean that most shareholders who have held shares for more than 12 months are likely to be holding significant losses. The practice of only issuing contract RNSs when a placing is planned is not going to help in getting the share price moving towards a price that properly reflects fair value. If the Board wants shareholders support it has to be earned. As far as I am concerned that is a work in progress.
Hi ban4118 - Because of the new covid strain I have decided not to go to the meeting which means that my vote is lost as I elected to cast my vote in person.
I am with ii & was contacted by them a week or so ago by e-mail invited to vote electronically (closes today I believe) or in person for which I received in the post letters authorising me to vote & speak at the meeting detailing the number of shares I have with them.
I would ask that all those that are on this board support all the motions however much you feel aggrieved by the current SP.
Onwards & upwards.
Perfect - those were similar to mine. I have heard the placing was necessary to secure a better level of credit as part of the debt facility, so understanding that would be helpful. Anything on IM and their plans for how they are approaching the market would be useful. That would be a great update, so we can see their strategy behind it.
ban4118 ref 10.17 post I will consider it depends on the question. I was going to ask how the board are going to regain the trust of shareholders after saying at investor events that there will not be a placing then having a placing or something along those lines. I am also thinking of asking if they had a terms sheet for a debt credit facility why was a placing necessary. Is there anything else you want asked.
Oh dear, never a good thing when JW starts posting....
Stokey, Chris, you guys seem to be the only ones going on the 10th. Are you happy to ask some collective questions of the BoD from investors on the board?
oldtramp ref 09.48 post what are the two at Appledore you are thinking of. There is the pontoon for the RNLI. I would not count the Entsha as a fabrication contract as it is more a conversion project with parts having to be fabricated at Appledore. If I am right that is two unknown fabrication contracts.
LinkedIn post from JW
Spark’s are flying with fabrication works now moving at pace across the yards with five separate fabrication contracts underway. Pictures enclosed are from our Methil facility.
https://www.linkedin.com/feed/update/activity:6874223689706041344
I can think of 4 fabrication contracts
1x Arnish
1x Methil
2x Appledore
Anyone any idea on the other ?
Lottie123 ref 09.25 post here you are Notice of the General Meeting to be held at 11.00 a.m. on 10 December 2021 at the offices of Fieldfisher LLP, Riverbank House, 2 Swan Lane, London EC4R 3TT is set out at the end of this Document. You may need to arrange to attend the General Meeting with the trading platform unless the shares are in your name.
Has anyone got details of the meeting in London Friday? It is not on the website and I am a holder via a trading platform and I do not get comms .