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Good morning we need some good news let's hope 🙏 our CEO can get the bank loan done soon. ✔️
The possibly paid Derampers will likely do their worst for another week or three, but the bought-and-paid-for negative news stories have likely reached their end.
It should be positive RNSs taking the share price all the way up to 60p over the next few months!
Who are you going to listen too, the Doom Monsters or the BOOM monsters?!?
The UK government are not handing anyone money. Yes they are risking it, that's what a loan guarantee is. But to claim the UK government are "bailing out" or handing over money to anyone is a downright lie.
Hebredian9. Does anybody care what the illegal migrant taxi service thinks?
There was a tongue in cheek post over the weekend regarding JW posting on the Scilly Isles Facebook page whilst eating his cornflakes - We have known for many years he is a 'cereal liar'. The RNLI will vouch for that.
If the government reverted to backing 80% of the loan could the 20% balance be underwritten by AN Other? Is that a feasible plan B albeit the 20% at a higher rate ?
If this weren't a Mother-Of-All Tree Shakes the share price would be sub 6p by now.
Well it isn't, ergo we'll IMO see 60p by 1st October 2024.
I going to spend my time watching and waiting!!
GLA
If HARL gets bailed out by the government the only one really getting bailed out are the two billionaire founders of Riverstone. One of them put his NY house on the market last year for $72.5m. That would make good headline that the gov are giving these guys free money. https://www.curbed.com/2023/05/gilded-age-mansion-973-fifth-avenue-for-sale.html
I don't think for one minute the UK public want to see the NHS deprived of funding to bail out US billionaires.
Before you all tell me that the gov is only backing loans and not risking any money that's obviously not true. The cost of debt for HARL should they be able to get it would be far far higher without government support because the company's balance sheet is so weak. Backing a 200m loan would be extremely risky. For this reason unless HMG and its advisors at UKEF have gone soft they won't back the loan.
Compoundinterest - No point in taking more cash from Riverstone, HARL cannot afford the current deal.
I think we have to accept that there is a material risk the financing don’t come off and that is being priced in. What will happen to Harl if it is rejected?
Well its not a good look this morning with a further reduction in the SP so far today the money men clearly do not believe John. Very sad.
PS No listing for IM this morning.
JW and Arun needs to swiftly find plan B finance deal and announce to the market even at slightly higher interest rates.
Low hanging fruit is agreeing with RiverStone to extend the 200m facility at the current rates for the next 5 years. If UKEF deal goes ahead then it terminates plan B.
This type of deal will reaffirm the market and lenders that we will be a going concern regardless.
Will buy back in after I see some confidence that a deal will go ahead, even if it means I pay more.
dyor, imo.
The price is edging towards my stop loss, I may soon be gone:((
However, I can buy back in if it slides enough towards the abyss. I’m left wondering if it will challenge the low just before the FFS contract was announced!
If I have to opt for the nuclear option I would like to offer my best to all who’ve made journey more palatable.
Bit of an old report!
Scilly Isles Ferries company now successfully ringfenced. A great finance deal next and then push to £500mper year turnover and a seat on the main FTSE. The SP is simply far too low.
Bubble2021 ref 06.06 post I am sure he said a few weeks. I am expecting something to time with the accounts being published at the end of June.
June I was thinking but after JW stated a couple of weeks it could come sooner your right
Hi Folks - The issue of forming companies that would allow ring fencing of funding is not new.Although the company will have an ultimate holding company i.e. Harland & Wolff Group Holdings PLC it can have separate funding ring fenced to that specific company.The only complications would be if the ultimate holding company had to guarantee the loan but provided funds were not passed down by the parent company I do not see any conflict with the £200m loan.
I am expecting news next week as the current saga cannot continue.
Thanks Si_D 👍
LSE, I beleive you maybe looking at the Costa Atlantica RB1 which maybe one of it's launches. The ship has several and I spotted tehm before whilst it was in dock. They obviously haven't changed the AIS data for the launches to match the new name of the main vessel.
Most stupid posts
Consuela
Posts: 1,179
Price: 9.60
No Opinion
RE: JW to IOS Air & Sea FB18 May 2024 23:22
Nope.... I'm most certainly not the daft one here... by a god given mile... 😂😂
Probably number 2
I disagree L . Without doubt it is the responsibilty of the CFO to have contingency plans in place for every possoble scenario. Inclusive of, but not limited to, alternative finance options , possible objections and from what quarter and why.
The IOSSG would perhaps have been high on any such contingency list.
Just because they were aware it might happen , is not the same as being offically informed.
The Steamship group conversing with the papers is the first time this has reared its head , very late in the day. The questions asked by Kevan were a precursor to the news yesterday and it was pretty clear what was coming next imo.
The fact that Harl again outpaced them , took legal advice and ringfenced any spend is super.
As the UKEF loan is not yet granted, they have plenty of time to ensure no comingling of funds.
With regards to informing us more about the financial loan , we can clearly see that all responses to questions asked in Parliament basically say , can't answer commercially sensitive. Harl cannot comment on it.
In light of yesterdays news , i'm pleased they have said nothing pertaining to their business plans for Scilly , less said the better.
Bottom line, Harl don't need the Scilly route to survive, Scilly group need Harl to fail for them to survive longterm. 'Much ado about nothing'
Stokey get your pen out , next one has to be about Shipbuilding , main protagonists very colourful charachters , you have the enemies within and the rowdy bunch at the back.
I hope to have official news soon, current state of play is farcical .
Fab post Lottie !
Let's look at the facts.
a) the company is on target to achieve revenue growth in excess of 100% vs previous year, which in itself was in excess of 100% vs previous year.
b) £200m of revenue brings the company close to eliminating cash burn.
c) the four production facilities have been(being) refurbished with new state of the art machinery...with a value(cost) in excess of £125m
c) Appledore purchase of freehold completed.
d) order book of £1bn
e) defence spending undoubtedly has to rise and the navy, according to numerous knowledgeable opinions, is way below conflict fighting strength
f) other major shipyards have significant order backlogs
h) the government are committed to peace and prosperity in NI
i) the government have championed shipbuilding as part of levelling up as it directly impacts high unemployment communities
j) the company has an existing, if expensive debt facility until end 2024
k) the government cannot be happy with ISSG for awarding a contract to France
l) significant advanced work on the FSS ships build has been made
Sometimes, it good to see the wood for the trees. Clear the air.
Whilst the BoD have not covered themselves in glory on this. Have not updated shareholders on the business model for a ferry business...For the life of me, I cannot see why so called balanced journalism did not paint a full picture about the rebirth of this once great shipbuilder in a once great industry. It suggests to me a specific intent to focus on a particular negative, all be it an important one, ignoring the ramifications for so many young people who have finally found a future...and a damn good one at that.
If you want peace, as the saying goes, prepare for war! On that alone, we need HW and we need these young people to be able to build ships.
Certainly number 1