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Hopefully he will deliver more than an Easter egg!
John Wood@JohnWoo64494325
Looking forward to catching up with @DonaldLeggatt on Monday it’s been a while #INFA
12:46 PM · Apr 9, 2020·Twitter for iPhone
PS Hopefully this could become good news.
Interesting reminder Loosegoose of the “February Leg Breakers” ‘s terms ....but where would we be now without that working capital and could we achieve any such financing in the current market !! ? Just need some news that there is work in hand for April-May.
Loosegoose,
From the RNS dated 10.2.20:
"Under the terms of the Facility, Harland will drawdown the sum of £2 million immediately and the proceeds will be utilised for working capital purposes. The Facility is for a term of 24 months with the principal amount repayable as a bullet payment at the end of 24 months from the date of first drawdown. The Facility carries a coupon of 13.2% per annum, payable in equal monthly instalments in arrears. The Lender of the Facility has a first charge over all the assets of Harland. At the end of the 24-month tenure of the Facility, there will be an exit fee of 4% payable to the lender. Belfast-based Whiterock Capital Partners LLP advised Harland on the structuring of this Facility."
Blairpeach,
I should have been clearer.
I meant your comment did not seem quite right.
Anyway, time will tell.
Loosegoose,
I couldn't agree more...
Doesn’t quite seem right to me.
Loosegoose,
All the assets of H&W are already hocked to the February leg-breakers!
My reply today on LinkedIn:
'Welcome post look forward to seeing the ships docking soon.H&W still operating should be a main news item as it shows what can be achieved under these stressful times.Posted by a long term INFA investor.'
Would it not be possible to use the H&W assets as collateral for the 1m debt?
The only way to take advantage is via debt. It would show the market how serious you really were, not just snippets of positivity. I cannot see why someone has not bid for the company. At this rate they could get it for a song.
I have to say this share is beginning to look rock bottom and I believe will not move significantly until much later this year. Yes that snippet was slightly encouraging but in reality did not really say anything!
It's clear that H & W are not busy presently and the IM project is on hold until the ML is awarded. Therefore I do not see any positives here for a few months, maybe into Q3 at the earliest. I'm a little concerned about the current debt levels also regarding H & W, since we purchased it have we been informed of one major single contract award, say worth £5M or even 2/3M ? as far as I know we have not. The grants etc in respect of the IM project that JW held back for, will they now be available any time soon? I can't see it? the economy although it will pick up very quickly imo, will be the primary focus of the Government and new projects will be on the back burner initially until things have returned to normal, even then there will be a huge government budget deficit?
I am very sorry but I cannot see any short term positives here currently, I do think JW should have took the funding available at the time for the IM project if indeed it was there, at least some progress would have been made.
As for long term holders here I wouldn't like to make any suggestions as to what they should do, sit tight I suppose with fingers crossed that Infa will come through all of this in one piece and the plans etc all come to fruition.
For the record I reluctantly took my losses the other day and invested in AA as I see that as a safer investment at it's current level for the time being. I will be keeping a sharp eye on INFA and should there be the slightest glimmer I will be back in here.
Good luck
Mr T
Given the depressed state of the companies market cap, I would love to see a bold and decisive move by the board. I know cash flow is very strained but if they really believe that H &W can be a stand alone business and the ML is assured, then raise another £1m in debt and start buying their own shares. Ok, the interest rate might me expensive but if they can generate profits of just £8m a year, that buy back would look inspired raising the yield significantly.
Good find Humpalumps - full details below:
John WoodJohn Wood • 3rd+CEO at InfraStrata Plc. H&W (Belfast) Ltd19h • Edited • 19 hours ago
What a time to acquire a shipyard !
If I had a crystal ball would we have acquired the assets of Harland and Wolff back in December 2019 ?. Whilst COVID-19 is having a devastating effect around the world, I can see light at the end of the tunnel, so the answer is a definite yes!
We have made a good start undertaking numerous dockings in a short period of time, building new relationships and are earning a reputation for delivering quality projects within time and budget, whilst earning our forecasted margin.
With 70% of drydocking’s being affected globally, early indications are that shipyards are in for a very busy Q4 and 2021. We have seen a substantial increase in requests for docking dates particularly across Cruise & Ferry along with the offshore market.
We continue to review the yard footprint, thus ensuring we have the optimal set up to get the maximum flow through the yard, opportunities continue to pick up in the Defence and Renewable Sectors.
Our facilities remain open, vessels continue to arrive and depart. We have enhanced protection measures in place for our staff and clients alike, we like you are looking forward to returning to some kind of normality in the coming weeks.
I did exactly the same, Si
.. could you a heart attack, jeeze.
Got home and checked how things were and whoa! .285p, 2 RNS's, 1 News and 18 posts.
Checked the posts, no, still mine from last night, Checked RNS's nope. Checked trades and they are from Febuary. ???
WT blinking F, LSE. :)
As Rick would've said,
"If this ship leaves the dock and you're not on it, you'll regret it. Maybe not today. Maybe not tomorrow, but soon and for the rest of your life."
https://uk.investing.com/news/stock-market-news/ferry-firm-stena-line-to-furlough-600-employees-in-uk-and-ireland-2090357
Not sure if this means there will more ships to work on, as they are not being used as much. So a good time for repairs and maintainace. Or, due to less income, they may hold off. The tendrils of this virus are widespread and far reaching.
Time to start building my bunker and storing essentials. ;)
Hello Lottie123,
Are you sure that you weren't right the first time?!
Hi lottie I suspect with the market picking up the sellers are looking for better opportunities. I haven't got the gonads to sell in the hope of returning at same level in time for an rns from infa, so I'm sticking here. Its pretty gutting seeing other shares rise when infa isn't!!
How very amusing...I meant to say...a jobber and a broker but it came out robber..
Hey ho
Call me old fashioned but selling a company at 0.0020p when a positive decision could see an increases of multiple 100s% smacks of two things...this following 30 years as a robber and broker...either sellers are stupid or...they know something. For a meagre gain selling now vs potential upside, it just seems very odd..
There has been an update on the EU website saying there had been an update in April 2020 saying 'Last Modified' April 2020 so maybe we will see another RNS on the subject.At todays SP if all goes well a Buy is a bargain.
https://ec.europa.eu/inea/en/connecting-europe-facility/cef-energy/5.1.3-0036-uk-s-m-15
Detailed below is all that has been published on the 'Marine License' & gives a good overview of what is in the public domain.
Others can make up their minds as to whether we will be awarded it but at least all the facts are there to see.
Islandmagee Gas Storage Project December 2019 Consultation ML 28_12, Consultation Now Closed
https://www.daera-ni.gov.uk/consultations/islandmagee-gas-storage-project-december-2019-consultation-ml-2812
Thanks dawski37 look forward to the new news !!!!!