The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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On the contrary, I was listening intently and the CFO picked up the question. He could not have been clearer. The 1m pay was a combination of salary, bonuses, accrued salaries of the past and remuneration all agreed as part of a three year deal from 2018 to 31 Dec 2021. If you cared to read the annual report, it states exactly the same in black and white.
While shareholders might have different views on this, and each shareholder is fully entitled to have one, the CFO was very clear and there was no waffle around it.
Read the annual report, it might be useful.
droderick, droderick, so good he posted twice.
Whilst my experience really is none of your business, I will state that I have worked with shipyards. Guess what? There was no money in them.
Don't listen to me, listen to the esteemed Mr. Chant.
Sadly Blair, you come across as someone who has never ever run a business. Your naivety and sheer foolishness is masked pathetically by dripping sarcasm.
But I apologise that your demand for civility is nowhere matched by your own words and actions.
Perhaps if you are so knowledgeable about gas storage you can help all of us understand how the economics for both natural gas and hydrogen works. That would certainly give this inept BoD some clues to commercialising the project and not be concerned about immediate revenue generation that seems to be the least of your concerns.
Lottie,next week am hoping
Sadly Blair, you come across as someone who has never ever run a business. Your naivety and sheer foolishness is masked pathetically by dripping sarcasm.
But I apologise that your demand for civility is nowhere matched by your own words and actions.
Perhaps if you are so knowledgeable about gas storage you can help all of us understand how the economics for both natural gas and hydrogen works. That would certainly give this inept BoD some clues to commercialising the project and not be concerned about immediate revenue generation that seems to be the least of your concerns.
More Old news than Breaking News. TBH
Has to be reason he's diggin all that up at this time.
And not just to sell a few more subs?
The one issue that requires addressing with this is storage.
Okay building arrays of offshore turbines and similar renewable energy systems for electrifying transport and general use, but if it isn't there when demand requires it... well.
Storage at source, stratgegic hubs, locally or even per household would be required. IMO
The big two, Korea and China, have order books bulging at the seems. Prices are rising and delivery dates lengthening dramatically. It could well be the demand will filter down the food chain to little old H & W.
https://www.tradewindsnews.com/shipyards/vlcc-prices-breach-100m-mark-on-steel-plate-rises-and-shipyard-berth-dearth/2-1-1009882
You may well be right,Mr S and fair comment ..BUT IMHO whilst JW & Co have at times been called "maverick chancers " it is agreed I think that the comment made last eve------ that we would not be having any discussions about Infa now had they not arrived in 2018, shaken up the old BOD ,bought H&W on a whim,likewise with AP Methil and Arnish and moved us away from the then One Trick Pony that was I.M.---- is 100% correct.
Despite the rather lack lustre performance last eve ( which I put down to sheer fatigue and heavy workload for such a small team with grand designs and big issues) we do need to support JW going forward .
I.M. will happen and the Building Dock will have a visitor or two before long .The O.O. is heavily discounted at 30p to attract the earlier Placement last week which remember was fully successful.
We need to look forward to break even or more by year end ...NOT to dwell upon past possible vents/indiscretions,personal or otherwise !!
The Heavy Lift Vessel "Pugnax" is still there ..just off Groomsport !! Happy Evening all !!
Anyone else notice Mr Graham lyon commenting at the end of yesterday's presentation.Our ex chairman clearly at infastrata to negotiate the deal to supply gas to the gas caverns and most likely from Africa.The gas caverns are the reason the old board were cleared out in my view and will eventually be part of something significant with the shipbuilding the focus for infrastrata.Perhaps that was the deal .Government and co get the extremely important gas /hydrogen storage and the trade off being contracts from defence the trade off with another large concern taking over the gas project with infastrata picking up a very good pay off to ensure capex funding for the expected significant flow of work into infrastrata order book.
panda1 In relation to your 16.06 post I do not subscribe to ************* so can not provide a link. But if it is anything like previous articles from them it is unlikely to be flattering to the company. I would also observe that there is a possiblity of a link between companies he bad mouths and companies who refuse to subscribe to his services.
Careful here !!!
Would anyone with access mind sharing today's article in full:
BREAKING: Infrastrata – The CEO History the Company Forgot to Mention: its a share price killer omission!
By PETER BRAILEY
Back in October 2019, I commented about Infrastrata (INFA) making the apparently bizarre move to acquire the Harland & Wolff shipyard in Belfast. I could not understand why the company made that move as it made no sense to me at all. However the full background of the CEO perhaps provides the explanation
Wouldn’t rely on Boris for anything but hope I am proved wrong.
Press release gov.ie
Government publishes framework for Ireland’s Offshore Electricity Transmission System to facilitate huge growth in renewable energy
From Department of the Environment, Climate and Communications
Published on 13 May 2021
Speaking today, Minister Eamon Ryan TD said:
"Meeting the ambitious goal of 70% renewable electricity by 2030 will require development of significant offshore renewable energy over the coming decade. What’s really important is that this policy is a further step towards building that renewable sustainable resource right here in Ireland. It will give us energy security, and it will also help us to reduce our carbon emissions. Over the next decade we will be electrifying our transport and other systems and we will need electric power from sustainable resources to do that. Offshore wind is a win-win for local communities and for Ireland."
After last night, would you entrust your new-build vessel instruction to that pair of turkeys?
stokey12,
Silence is the hiding place of the coward.
I did not say that INFA would be going down, either!
Unfortunately I could not attend. Was there any mention of progress on the marine license?
RazorShultz In relation to your 08.33 post that would not be much fun though.
Stokey I wish you would filter trolls as I do instead of simply replying to them, blairpeach is one of the dedicated derampers on this board
BlairPeach In relation to your 08.12 post as I do not accept the premise of your question so I will refrain from answering it directly. I would observe that from August in addition to income from ship repair work INFA will be receiving £2.6m in monthly payments on the Saipem contract so I do not see INFA going down.
stokey12,
How effective do you believe claw-back clauses to be in reality, once a company has gone down? Notice there was no mention of the quantum either...
BlairPeach In relation to your 07.58 post I note you made no mention of the fact that it was also said there was a clawback provision in the deal. But then you only make negative posts as opposed to balanced posts.
When confronting the thorny issue of remuneration, there was a lot of waffle, concluding in the fact that the directors' packages had been agreed on a 3 year basis, ending on 31st December 2021.
Another cheeky million each for this Christmas, then?
Chitta123 In relation to your 07.22 post a fair summary. The only thing I would add is if I heard correctly JW said that he would not expect to come back with another fundraise for 12 months. Whether people believe that is a matter of personal choice. I wuld observe that he is in possession of more information than we are and on the basis of that information he seemed confident to be recorded as saying that.