Seems like a storm in a teacup to me. Harl have only had the yard for a little more than twelve months. If JW was aware of this issue he will have accrued or allowed for it. If he didn’t know about it then surely that would be a disclosure matter against the Scottish gov. No doubt it’ll all come out in the wash.
An interesting article. The reference to the sp rises for bab and bae draws comparison with Harl’s rise, if we compare to the Feb all time low. Bae are hitting new all time highs though bab are significantly down on their highs of 2014. Hopefully (again) there’s a long way to go for Harl and the sp.
We’ve seen chunks of stock sold in the last few days that would require an RNS had they been disposed of by one significant. It may be a previous SS, now sub 3%, selling off. I really can’t imagine who would wish to divest at this juncture. They must be seeing something I can’t.
Stokey12, it’s quite clear that the organisers thought that it would have been published by now. “ with the refreshed National ship building strategy expected early in the new year, this will be one of the first ( if not the first) major industry events following its publication …….” Isn’t life a b***h
When JW came to his post he used to draft a schedule of actions, such as undertaking FEED by a particular date and he reported regularly on progress with ticks and comments. Even Arun promised that the FID would be announced in the fourth quarter of 2019 with work commencing on IM in early 2020. What do we get from these guys now??? ………………… Nothing but vague suggestions. No notable contracts, no FID, No chair announcement, still no idea if we’re actually breaking even or still bleeding cash and sneaky huge bonus payments made, for what? Now we’ll into March still no idea of the (delayed) year end figures. The jam tomorrow is distinctly mouldy….
Nobby, I don’t necessarily go along with the single big seller theory. During my four year holding there’s has never been a shortage of very willing sellers of Infa and Harl. We did have a time, when news of the ML problems was just surfacing, that the then appointed brokers Allenby were, apparently, advising clients to dump Infa, leading to a bust up with JW and their subsequent replacement with Cenkos. This had made it pretty clear where the sellers had been coming from at that time. Recently we have divestment by Allianz and others involving millions of shares. Then, on top of that we have the PIs. There are very few posters left from 2018, who, at the time had been raging bulls of the stock. This prevails even today, for reference see Speedy’s recent posts. What we really need is for some of the business threads to come together. Transparency from Harl and actual realisation of a few of the many, many promises made since JW took control. Political pressure may, sadly, aid our cause and spur all facets of the business along. A visible and secure future sight line will, Imho, bring buyers back. In the meantime my largest fear is the ever increasing risk of a cheap buyout.