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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!
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.