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Arun has posted a very long defence of HARL on LinkedIn. I have commented that he should do a similar article for one of the nationals. Unfortunately the post is too long for me to do a cut and paste I also have to get back to my Teams meeting. The link is https://www.linkedin.com/feed/update/urn:li:activity:7198250183770406912/
3rd post in 7 years.
Strikes of desperateion.
Wow, now that's some poetic license gone mad, that is. Not quite how I recall it all happening, tbh. lol
But the story is larger than two men. It is about:
· Shareholders and lenders; Over £200 million invested;
· Investments & returns; £100 million planned & aiming for annualised EBITDA break even end of FY24;
· Innovation and technological change; robotic welding panel lines, plasma cutters, transporters and cutting-edge IT systems;
· Suppliers who keep the supply chain moving; Over 1,300 suppliers across the UK;
· Clients who contract with the company and pay fair value; Over 150 vessels in 4 years, from zero revenues in 2019 to c£200 million in 2024 & a £1 billion contracted revenue backlog;
· Governments that expect the company to generate large scale employment, increase per capita incomes, & be at the forefront of creating long-term social value;
· The National Shipbuilding Strategy to rejuvenate UK’s shipbuilding legacy & for the UK to become a key player in the global shipbuilding and heavy fabrication economy;
· Apprentices on whose young but broad shoulders the future of British shipbuilding and heavy engineering rest; Over 120 apprentices training every day and set to double in the next 18 months;
· The workforce of this company; now 1,500 in strength and set to double over the course of the next 24 months.
jw is the same, not a class way to run a company or keep shareholders updated. don't forget these guys are on a salary of £0.5m per annum, yes that's correct £500,000 absolutely scandalous. fleecing shareholders & merrily skipping down the road with *** abandon whilst the share price plummets and no doubt a whole raft of losses when the 2023 accounts are released. hope they are on time this year!!
don't worry though, the scilly ferry money is ring-fenced, these two can sail away scot free while the shareholders are scrambling for the lifeboats.
He has been watching too many TV adverts ...he sounds like an advertising agency pitching for a marketing campaign !!
still, a reasonably romantic attempt at putting forward his case
Poetic license gone mad….. seriously? This is the CFO? Where’s he been living? Show us the money and stop dreaming!
Just communicated with Bod , they are have meetings scheduled with Gov today and tomorrow. Absolutely zero truth in media articles that J. HUNT will not sign off. Conversations ongoing.
Kaeren - Is it acceptable for the CFO to be posting on social media when talks are scheduled for today & tomorrow? The talks could make or break the company and the CFO has come over all 'flowery farts'. Something not right here.
Hebridean , my preference would be zero posting on Facebook, same for 'flowery missives '
However, I daresay frustration is high at the inaccurate reports in the media with regards to J.Hunts decision.
A lot of buys coming in this morning after the drop first thing , someone building a very nice stake imho
What I don't quite get is why would JW and Arun care all that much if the reports really are inaccurate and they are close to agreeing finance? Why such a dramatic post like I've just read on linkedin? The share price is, in a sense, an irrelevance in the intervening period if all the funding is coming via UKEF ?
Honestly, the two of them pitch it like they turned up out of the blue just to save H&W and Britsh shipbuilding in general. The truth, afaicr, was that they were both brought in by Adrian Pocoçk for consultancy work on the Islandmagee gas storge project. JW on the FEED and AW with his history in gas storgae. Read there bios from the time. After organising the coup that ousted the previous useless BoD I don't think AP and his mate Peter Wale actually knew what to with it so just kind of handed it off like a hot potato and moved on to their next project. JW and AR were obviously in the right place at the right time and thought, yeah, okay, we'll give it a go if you don't have anyone else. Don't recall there was any clear cut plan already in place other than to get IM up and running. It certainly didn't included shipyards at the time. Yes, I'm glad they struck out and away from just IM and started doing something else as we wouldn't be here right now, imo. But that divergence was promoted as being part of the IM plan and not the main goal. And there was absolutely no mention of opperating a bl**dy ferry service.
No idea why the post HC , save frustration at media. However would you elect to book your drydocking , sign off on contracts etc with all this uncertainty in the media re future survival of the company. I suspect like somewhere else we know about, that they have an NDA in place and cannot comment to anyone in any detail the exact status of the ongoing conversations. Bottom line they care because the whole future of the company is headline news against them trying to conduct BAU. Just imo.
Clearly a lot of shareholders are worried right now following the reports in the media. The social media posts are an effort to steady the ship in my view and calm the situation. Talks are still ongoing so they can't tell people what they want to hear on the finance deal yet, so this is the next best thing. If they said nothing people would be moaning about that too.
SiD13:05 You may be correct but if you can understand that early stage growth companies have a habit of morphing into other things than what they originally started out! Your ideology would have Henry Ford still building tractors.
Or even better ,Nokia making car tyres.
Yes, Scaff, I understand that a company needs to adapt to changing circumstances and trends. And even though the reason for doing so might have changed I'm glad they made the original move on the Belfast Yard and subsequently, Appledore. A new direction into an area that i would have never have seen myself invested let alone be interested in, tbh. And also, because of that decision, in a company that now has a local connection that effects people related to people that I care about. That's not the issue I have with the pair. It's they way that they make it out that it was all part of some master plan that, firstly, we were all privy to and secondly, that we had much choice in any new direction they chose fit to take us in. JW sat there in front of that scrutiny comittee and stated that running a ferry service had always been the goal when taking over H&W. Or words to that effect. Was it?
Anyway, like it or not, we are where we are and if I don't like it I know what I can do.
(no response required on that last bit) ;)
Ha ha that made me smile, I keep a copy of my CL share certificate on my office wall to remind me don’t count on Government; I was convinced they wouldn’t let it fail… that didn’t end well!
From a linkedin post knocking HARL Now who on this BB says Ha Ha a lot Answers on a Prayer book. Hallelujah.
You just cant make this stuff up.
SiD I would agree and I'd say communication from the board will be a major talking point at the a.g.m. I personally don't really care much for cruise ship refurb's / ferries t.b.h.-not my thing and some shareholders seem to be here for IM only. The bod can only be held accountable "after" any strategies they have taken have failed and not before. For me, I hope their focus will be on heavy Eng. whether its shipbuilding, barges, docks - anything that gets that expensive machinery operating 24:7 and hope that they get their strategies right.!
I have just responded to Tim Kempster's post on LinkedIn on this thread. It counters the bunch of horse manure he posted.
Karen, if that was the case why didn't that very high level message not come out to the wider audience in official comms as opposed to a rather cringeworthy post by Arun, smacks of desperation.....
Tim Kempster and Kevin Taylor are both writers from the same short blog (name is censored on here!). They seem to be on a mission today. They generally post negativity on ADVFN but I have never seen them post directly om JW/Arun's LinkedIn or even on this board. Smells of desperation.