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😉
Would appear documentation progressing well.
Let's be having it !!
https://www.parallelparliament.co.uk/question/20908/harland-and-wolff-export-credit-guarantees
Great Kaeren, like the over 200 million 👏
Fantastic news!!, 200 million plus by the looks of things dated today !! Must be very close to publishing final figure so 200 million secured plus more many thanks Kaeren for posting link big news!!
Re K.. 20:27 . 👍 Is it possible that all the questions being raised by Kevan Jones in relation to HARL are actually just him as the chair representing the defense select comm. asking these questions on the comm. behalf.? If not, then he def has a personal agenda i.m.o.
Sir Jeremy Quin is Defence Select Committee Chair.
Thankyou very much for sharing Kaeren 👍
That is not how I read it.
I read H & W have over 200 million Euro of contracts that more than qualifies them for the 20 % UK based for export . So we meet the criteria and docs have been submitted.
Quorn
Searose
Heavy lift
Master serv agreement blah blah .
I hadn't considered that Scaffman, that would be a logical explanation.
Argh I see Kaeran, we await outcome then
Kaeren typo apologies
G8 find Kaeren. Thx for sharing. UKEF funding- looks like a tick then. Super duper.
On politics Xenor, the point I was making is investors should have no worries about a Labour government. And yes, imo this Labour team will be serious about boosting growth. It's going to be in their manifesto- so a massive priority. Clearly a big difference with the Tories I'm afraid. Growth has been crap. Granted there was a pandemic but every other major economy has recovered much faster than us. And I have had a massive dent in my pension because of Truss as has everyone else who has any private pensions, discounting SIPPs. Unlikely SIPP holders will have been immune to the carnage from Truss.
While it’s interesting to see this this confirmed I think care should be taken reading too much into it at this stage
It was a basic requirement of the application that the £40 million (20%) figure was met. I don’t think anyone thought that was an issue. I can’t for the life of me think why he quoted a figure in €?
A lot of people claimed to think it was an issue , the fact we qualify by a multiple of x5 minimum is of note and was obviously something that Kevan feigned ignorance of.
Not long to wait now imo.
This is further evidence that we meet the requirements for the loan backed by UKEF and that the financial closure is only a matter of time.
I think the issue at the time of that conversation was when it was thought it could only be applied to strictly exports and questions being asked if previous M55 payments could be included - we know that no longer be the case.
This was a basic application requirement and they would have made that on Sea Rose alone
I’m not sure there’s any sinister motive for the MP, he’s always been heavily engaged with defence since elected
One thing I noted in the Minister's reply he said 'In this instance, UKEF support has already secured over €200 million of UK content into this project' Assuming that the guarantee and the loan does not relate to any previous work then that would indicate that a major contract is being negotiated. The reason for this assumption is that you would not require a loan to do work related to a past contract. Also it would explain the aproval of a 100% guarantee. I would also observe that in relation to the other contracts including the SeaRose the client could have obtained funding direct from UKEF to pay HARL.
Stokey. Methinks you might have nailed it.
Interest rates are coming down sometime never, so this is the only way that we get refinancing over the line.
The question becomes whether, or not, Sir John waits on the outcome of IM?
Unfortunately, it makes sense to wait a few more weeks for the outcome. But who knows might today (Bad News Friday) be the day?
BT re 18.4. 22:34 I think you will find that Heb repeatedly stated H+W would not qualify for UKEF. along with many other negatives he posted. As H+W have not yet qualified he is at this moment neither right or wrong - "for now".
However, I would still be interested to know what he thinks of the floating dock proposal for Arnish.