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Can the Court of Appeal's decision be released without there being a scheduled sitting in the courts? Or does it have to be handed down "in person"?
Sorry Twib , just read this , although Eng and Wales , may apply to NI. No time to look tonight. Stokey12 might know.
https://www.judiciary.uk/guidance-and-resources/practice-guidance-remote-hand-down-of-judgments-in-the-court-of-appeal-civil-division/
Kaeren Ref 18.53 post It would not apply in Northern Ireland. The Northern Ireland equivalent of Sir Geoffrey Vos would need to make a similar Practice Direction in Northern Ireland.
Thx , knew historically it wasn't remote, saw that & thought maybe NI now followed same procedure, Gawd only knows , any short cuts for inundated Judiciary should be utilised.
"Valued at £450m"
Waiting for that value to be rubber-stamped by the Court of Appeal.
https://energypeople.com/news/story/islandmagee-gas-storage-project-receives-green-light-following-court-ruling#:~:text=The%20Islandmagee%20gas%20storage%20project%2C%20valued%20at%20%C2%A3450%20million,beneath%20Larne%20Lough%2C%20near%20Ballylumford.
Twib ref 11.48 post It would be interesting to know the basis of the valuation. I also note that the article is from August last year so has the value gone up.
That valuation is without merit. It is worth nothing until someone makes a firm offer. If IM was worth anything remotely like that figure , we wouldn't be sitting with the current MCAP , nor going thru hoops to get finance sorted.. or paying extortionate rates to Riverstone.
I'd love to see a 100 % sale after court results , pay down a chunk of the debt and avoid dilution via a raise.
As a newbie I have zero interest in IM , didn't invest because of it and would like shot of it to focus on the core business , which I believe has great potential.
No trades since 10:27, strange …
Twib , some value that for IM
Even without that the £77 million capital investment programme should start reflecting in the market cap surely.
At some stage most definitely, but how much have they spent to date ? I haven't a scooby. Hopefully after the finance deal completes Liberum will supply some answers. If they are going to put a target price on the share, I'd expect some detail as to how they arrived at that figure.
Certainly over the long term I would agree
I seem to remember JW saying in an interview that IM is worth triple digit millions. But that was a year ago and the price of gas has fallen quite a bit since then so I expect IM value will be less now. I would take £50-70m for it and pay down the debt. I would be ok with a JV approach too.
Surely JW has some idea by now as to what he will do with it, he said after the August JR result that he was in talks with several companies. This better not have stopped when the appeal was lodged.
Sell it. Get rid of it. Stick to your knitting.
The basis for any valuation should be properly explained and factor in the hydrogen opportunity. I won't be impressed if value is passed on cheaply for others to benefit from it.
At least £25m of the seemingly neverending £77m was to be spent on a panel building robot, according to JW on one of the intrerviews. That was way before all the construction work that is on-going both at Belfast and to a smaller degree at Appledore. When it was initally announced the £77m was touted as coming from "the consortium", of which I beleive they said, £12m was said to coming for H&W themselves and the bulk from Navantia. Wasn't it also to spread over a couple of years? Not sure if they will give a breakdown in the annual accounts as to the balance but it would be good to know the details, yes.
Si, I may be wrong but I thought it was only 6m coming from us out of the new loan?
Would have to go back and check all the RNS's at the time, tbh, X. For some reason, I've always had £12m stuck in my head. Also, sometimes things said in interviews were never repeated officially in RNS's. Or nowadays, in tweets.
Yeah it's a pain to find all of the information JW has said over time because the stuff in interviews and social media is easily lost or hard to find. Would prefer proper business updates more often.
Correct Si_Derman. Of the £77m for Belfast, £12m was to come from Harl!