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The next instalment on the purchase price for Appledore was due yesterday. As £300K of that instalment was in shares I was expecting an Issue of Equity RNS but I have not seen one yet. Does anyone know what is happening.
Just seen this article https://www.lexology.com/library/detail.aspx?g=49264397-8b8a-4bd8-852c-7e63ab0c6ab8&utm_source=Lexology+Daily+Newsfeed&utm_medium=HTML+email&utm_campaign=Lexology+subscriber+daily+feed&utm_content=Lexology+Daily+Newsfeed+2021-08-26&utm_term= I am not sure if anyone has seen the Call for Evidence but it is interesting in view of the IslandMagee project.
Just seen this which has just been posted on LinkedIn https://www.linkedin.com/posts/harlandwolff_our-appledore-general-manager-tom-hart-has-activity-6836266198141939712-gTxt. The text of the post is '
Our Appledore General Manager, Tom Hart has spent the last few days in Belfast, where he has been learning about the Harland & Wolff business and how things work in our Belfast yard. Our collaborative teams often share best practice and adopt this across the different yards.' This makes sense as the different yards need to work at maximum efficiency.
Chrisatrdg ref 12.17 post As can be seen by this article https://www.scottishconstructionnow.com/article/deep-water-port-design-contract-awarded-by-stornoway-port-authority The Stornoway Port Authority has impressive plans for the area. Of particular note is the new ring road that is proposed for the Arnish Fabrication Yard.
The link below shows a good ariel view of the Arnish Site:
https://energy.scottishports.org.uk/ports/stornoway-arnish
That all makes sense. On IM, I think for sure that Poots is taking the usual pathetic politician's way out, and has seen that he can sit on the fence until the NI energy strategy report is published. If it says gas/hydrogen storage is a "must" he will ok it, and if it doesn't get mentioned, or damned, he will refuse it. Simples.
Given the all time trading low of 16.63p (ish) is now in sight, it is my personal opinion that anyone selling at this level is saying they do not believe the company will survive as a going concern. There continues to be a ready supply of stock, in large volume, which is difficult to fathom unless someone has information not in the public domain. I understand this has been a painful, long journey for many shareholders but to bail out now seems almost pointless. The company has to have an underlying asset value despite its other liabilities. I consider that per share value to be around these levels. I am convinced that if the assets within their portfolio were to be auctioned, significant interest would be shown due to the ever increasing need for fabrication of green assets. Hey ho, just my opinion.
Very interesting Stokey that Micheal seems to be on the ball
1st time JW has answered his questions ….
Assume they need the infrastructure in place to stand any chance with these bids. Good Trouble though Michael !
Evening Jabido although plenty of news could come out soon I can’t see anything coming out on IM until NI energy statedgy is published end of year but only my opinion obviously
I am trying to decipher this comment on LinkedIn by John Wood https://www.linkedin.com/feed/update/urn:li:activity:6835938885185495040?commentUrn=urn%3Ali%3Acomment%3A%28activity%3A6835938885185495040%2C6835949206625107969%29&replyUrn=urn%3Ali%3Acomment%3A%28activity%3A6835938885185495040%2C6835970337734197248%29. The comment reads 'Good observation Michael and a suitable launch area outside also!' This was in response to a comment from that troublemaker Michael Vidal who had posted the following comment 'That looks like a very large fabrication hall. Almost large enough to build a ship in.'
Jaido ref 16.51 post the only RNS I am expecting tomorrow is a Issue of Equity RNS for the next instalment on the purchase price for Appledore. Wonder if we will get a Prime Ministerial visit this year promising contracts.
Looks like that's the placing shares gone through at 12pm and 4.25pm. Wonder if they'll sell asap? If so downward pressure on sp unless we get good news. I've got my fingers crossed for the ML at 7am 2mo :D
They are indeed on the move with th I ,news soon I think gla
Well done Loosegoose you beat me to it.What ever people are thinking INFA is making progress I think we will all be pleasantly surprised soon with positive news.
https://www.linkedin.com/posts/harlandwolff_madeinarnish-activity-6835938885185495040-M5lf
Over the last few months, the Arnish team has been busy...
? Developed an equipment power up plan and a maintenance schedule
? Developed an Approved Vendors List (AVL) of local and national companies to supply and perform site services
? Cleaned up the yard and its surroundings, cleaned up the fabrication halls
? Developed a yard layout and traffic plan
? Put plans in place to upgrade signage and IT infrastructure
Thanks Chris at least we know what they are currently doing on the Victorine
“ Repair and refurbishment work on the ramp also fire suppressant pipes replacement in the engine room at present .
jfk9 ref 14.29 post the main problem is that we have poor visibility on what contracts they have and are left with piece together what is going on. We are due a trading update at the end of September I am not sure how informative it will be.
Fairpoint Stokey, but not sure I entirely agree. Before H&W acquisition they had a very small staff and could have kept an eye on IM, at negligible cost. Yes, they have some sizeable contracts but also large costs and liabilities. The languishing sp infers that investors are skeptical that those contracts will prove profitable enough to deliver a return to shareholders, though of course this is Aim! Time will tell, no point bailing out now!
Harland & Wolff Harland & Wolff 16,542 followers 17h • 17 hours ago
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'Work on the Victorine continues in Belfast, where our very experienced and expert team are delivering a quality service.'
#madeinbelfast
https://www.linkedin.com/feed/update/urn:li:activity:6835648297248681984/
Edit: Great picture plus they have added in the Azura - is that a hint?
The Old Boy Network plays a massive part in this game as ever: with BAe etc involved when did they last build an aircraft, sub or ship without cost/time overruns?
Thanks V much Stokey
NigelHaemoglobin ref 13.40 post If you Google Fleet Support Ship Contract Notice one of the links is for tenders-uk. They have the link to the full contract notice which is 4 pages long. The dates are in there.
jfk9 ref 13.21 post I will not hesitate to call the BoD out if I feel they deserve it. I agree that they may seem to have made some missteps that have contributed to the current share price. That said it is my view that you are wrong to say that they should never have touched shipbuilding is wrong. If they had done and just waited for the IslandMagee project then a) It would of missed out on a minimum of £30m in income. b) Would have ceased to be a going concern and be liquidated.
As things stand with the BoD's strategy we have the £26m Saipem 1 contract with a good chance of getting the £43m Saipem 2 contract. I would also point out that there are additional items of work that is being worked on. Also more fabrication of wind jacket work that would be of higher value than Saipem contract that INFA will win due to the fabrication footprint it has.
Very good research Stokey, how did you find those dates? Fascinating stuff!