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I’m prepared to support until the end of June, currently. By then I’m expecting a lot of dust to have settled and a new clarity revealed. If a sandstorm still obliterates my view I’ll support any rebellion or simply find a new home for my investment in Harl, including my very slim pickings.
I hope the BoD are enjoying their fat salaries which are only avaliable because shareholders have been patient with them. They have, over the last few years, employed a raft of business focused people but their is little to show. They have spent a few hundred million but still we sit and wait for regular updates on new business. They have ventured into a totally new area of business without any information as to viability to shareholders. I am beginning to think we are close to a shareholder rebellion where either jobs are on the line or sizeable salary cuts are in order.
They cannot keep treating us in this way without recourse. Thoughts please.
"the issue with Navantia is that its government owned within a country which we have a dispute with - Gibraltar"
Who is suggesting that LSE03 ?
Seriously !!150 shares sold at 12p!!,come on mms you can do better than that if you want shares imho
Are people seriously suggesting that a UK govt faced with global threats will choose to spend time, effort and money unwinding a contract with a European ally rather than leveraging the benefits of the contract to enhance the UK's shipbuilding capability (both locationally and skills development) and then push for UK build.
Stokey12 ref 08.35 post. The FSS contract with the MoD will require compliance with certain PM governance & control mechanisms. BAES know these don't work well given ill defined requirements. I hope Navantia (and by implication HARL) are sufficiently savvy to think outside the box. Even BAES are recognising there are different/better ways of doing things.
Harland et loboo ?
My posting was in relation to current government stance regarding Warships , I'm sure I could find a plethora of companies who deal with the MOD , find me any who aren't British who build Warships for us.
Thales don't, nor do Spirit.
Harland y el Lobo. :)
Tired - nor Spirit which is American owned. The requirement in the terms is UK owned design with UK build and integration - the issue with Navantia is that its government owned within a country which we have a dispute with - Gibraltar
Infrastructure going well at Belfast yard , should be seeing some good pictures soon
Tired hands , good point there
Although having a foreign parent doesn't seem to be barrier for Thales UK when it comes to securing UK MOD work.
It is still a subsidiary company, with the parent co being Spanish. The barrier is security and imo will never happen.
Happy to agree to disagree.
Xenor ref 12.03 post you make a fair point especially as both directors and the Person with Significant Control are all Spanish. That said as a legal matter Navantia UK is a separate legal person to the officers and as a result it does not derive its nationality from that of its officers. So as a matter of law it is a British company as it is registered at companies house in London. See this link https://find-and-update.company-information.service.gov.uk/company/14100400
Would hardly call Navantia UK a British company if it's foreign owned. That's like trying to say HARL's office in Florida is an American company.
“All Royal Navy warships will continue to have a UK owned design and will be built and integrated in the UK”
Kaeren ref 11.31 post yes as Navantia UK is registered at Companies House i is a British company.
Meant to add, as far as I am aware.
Would that circumvent the issue ?
Security, only British companies build Warships for the MOD.
Kaeren ref 11.14 post As Navantia has a UK subsidiary so it is possible that they might buy a UK Shipyard so as to contract direct with the MoD.
What would Navantia hope to achieve by doing that ?
It is government policy that no warship will built outside of the UK, for a plethora of reasons, not least security.
No Royal Navy Warship has been built outside of the UK since before World War 2.
Even Scotland is at risk if it were to become independent, of losing contracts.
I think Navantia are fully aware of this and I don't expect to see them try and contract directly with the MOD.
https://ukdefencejournal.org.uk/would-uk-naval-shipbuilding-continue-in-scotland-if-left-the-uk/
https://ukdefencejournal.org.uk/would-uk-naval-shipbuilding-continue-in-scotland-if-left-the-uk/
Just seen this https://jobs.smartrecruiters.com/HarlandWolff/743999982728425-assistant-accountant-marine-services-scilly-ferries .
Can't see what Harl could expect to get from this t.b.h.