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Nothing to suggest IM would not get over the line
Speedy
I don’t think that there would be too many shareholders completely shocked if H&W was a change of direction, yes it’s not why we originally invested but if JW can not get IM over the line then it’s good that we have other avenues to pursue as bod could easily have sat back and kept IM on the long finger for an eternity, as a typical aim lifestyle company.
I agree 100% that he should keep shareholders informed with what is going on, as always it’s all guesswork on our end.
GLA
The dust is now settling post the Harland acquisition. It has now been formally completed and the first set of revenues have now been announced. This is fantastic news and it completely validates the acquisition. The fact that JW and team are determined to turn this company around into a revenue generating entity gets my complete respect and support. The markets are extremely treacherous and liquidity is at an all time low. To have raised this sum of money and closed a significant transaction relative to the company's size is an incredible achievement.
What has happened this year is simple: a company that was effectively going nowhere has been radically transformed to the point of generating maiden revenues and with a much larger portfolio of revenue streams to play for. The ultimate ambition of all shareholders is to earn a sizeable return on our investment. JW and his team are also shareholders and are completely aligned to all of us. I can see a very bright future going forward.
Let us pause for a moment and give due credit to the management team - they have earned it.
The grant money is it coming or not ,it's so far overdue we are in doubt?
Mean of to the races gla
Has put us in good stead employing the locals who thought there life was over not quite but you know what I mean . I feel a lot of things will be sweeter for us now once we get funding update we are of to the faces
That H&W are open for buisness
https://www.maritime-executive.com/article/harland-and-wolff-wins-first-post-bankruptcy-contract
JW did say that until they had the keys no contracts could be signed!
Exciting times imo
Why did you buy 600k through primary bid if you dont thrust them then?
Yes but based on Corbyn or Johnson calculators!? Maths is one thing cash is another thing entirely.......?
I'm sure he has done the maths....
You wags...see my correction....£300k a month is reasonable for 90 staff, probably an underestimate inc pension and ers..
Doubt they will all be on £1000 a week either !!
£3m a month for 80 staff ? They all on £10000 a week ?? ... no wonder they went bust...surely infa has lowered this wage !!!
£300k monthly soz...same anxiety applies
The H & W monthly wage bill must be circa £3m (or are they on reduced hours currently?), so unless the frigate contracts drop and pay quickly I'm struggling to see how this stays afloat!? I'm see sawing between opti and pessi constantly..
Interesting currently have over 74 million in cash and last five years year on year cash has grown loads . Be lovely if this all works out with stenna line Remember this was over 0.6o not so long a go ! Good nite all
Was wondering who the mystery company might be and found this from H&W's website from earlier in the year.
http://www.harland-wolff.com/News/Stena-fleet-maintenance-complete.aspx
and previously from a few years back.
http://news.stenaline.co.uk/pressreleases/stena-line-confirms-ps7m-irish-sea-fleet-refit-contract-1626336
Obviously it's all just huge, unfounded speculation on my part but Stena do have history with H&W. ;)
Anyhoo, have a great weekend one and all.
Si
Now that you mention it, I recall someone saying that. Think it was from a GM attendee.
Im sure I read somewhere there were six that took up the placing, so atleast 1 more, if it is riverfort I can understand the lack of report :-)
Yes Tango, you are correct. I've been logging them on my infa spreadsheet and I make it 928m reported and 1.071 bln left to go. Though there may be some, individualy, that don't reach the percentage needed to report. The one from Harwood was only 0.47% but was lumped in with Oryx's 2.8% on the same RNS.
circa 918 mill reported so far
Am I correct in thinking there is still another 1 billion of holdings to be communicated via RNS?
Not often but I agree with you Blair- Johnson will make a point of helping H&W and shout it from the roof tops, He is in a position where he needs to show NI he is helping them secure the future. With the power of government backed contracts things will get very exciting. As for salt cavens- awaiting DEARA ball is in their court. IMHO
As I have stated (positively!) before, there must be a serious plan for H & W, given the political significance of the rescue. Hopefully politics will trump any funding concerns.
I still want to know what's happening with my bloody salt caverns though...
Hi spud - I have just looked at the tweet & it is quite something to get the Northern Island Minister at last nights celebrations one up for JW.