Member Info for BlairPeach

Lottie123,

I am not the one who claimed to have had a stellar career in investment banking...

Lottie123,

I expected them to announce an attempted raise at 10p after hours on Friday last, looks like I was a few days out. Not sure they will hit 10p now and I reckon there's a good chance it will fail.

As I have been saying since before Christmas, how else are they going to pay off the leg-breakers next week, as there sure as hell isn't any cash left and those yards aren't generating any? Plus Appledore???

oldtramp,

That is a hypothetical question, which I cannot answer.

I remember well the bluster over IM when JW came in, the project was "shovel-ready" and the projections impressive. Turns out that was all BS too, whether by design or incompetence we will probably never know. Either way, the project could have been wrapped in cotton-wool, with a skeleton staff doing the job they were appointed to do, get the gas storage project over the line. Investors would have been frustrated at the delay, but would have accepted an occasional, small, cash-raise to keep the lights on, as long as the staff were performing. That is what we invested for in the first place.

But where would have been the savings (in the directors' bank accounts) in that strategy?

oldtramp,

The only thing the CEO has saved is a million quid in his bank account.

stokey12,

Those ridiculous bonuses will have raised more than a few eyebrows in Westminster. No government official or civil servant is going to hand out wads of public cash to a company that then siphons it off into the directors' pockets.

That's why the yards are screwed.

stokey12,

Why bother with a takeover? Just wait for the inevitable collapse and the vultures can pick over the bones for buttons. Not that there is anything (aside IM) worth picking over.

If it happens, expect the chief vulture to be someone we all know and love...

Pokerchips,

What utter, utter guff...

Speedy_Gonzalez,

I have written off my circa £35k "investment" in this sham of a company, that does not mean that I am not angry and frustrated at the actions of our lying and cheating directorate. I have posted consistently in support of IM and consistently in opposition to anything to do with those infernal yards, which were only ever taken on to give leverage and time for the director to fill their pockets.

Perhaps you can come up with a positive reason why the end of year trading update has not been released, or why the final payment (be it in shares, or cash) for Appledore has not been confirmed?

Chrisatrdg,

They can't put out the promised trading update, as it would finish the company.

Nobby31,

There simply is no news. We still haven't been told whether Appledore has been paid for, I can only conclude that it has not and that the company is in default. The leg-breakers have to be paid next week - where is the cash going to come from, as the funds from the last raise will have been burned through by now? Will Belfast be in new hands next month? Mind you, I wouldn't have accepted that huge white elephant as collateral for a tuppence debt.

Nobby31,

I wish I could trouser some of JW's wedge; after all, he's already trousered a fair chunk of mine...

Now 12%...

Some reaction to those "investor visits"...

Even if the yards were binned (best place for them, not that anyone would want them, even if free) and IM was sold for £45m and funds returned to shareholders, we still wouldn't see 30p, which would mean almost everyone would have to eat a loss.

Some focus on shareholder value there.

Someone call the RNLI! Oh, wait...

There aren't enough lifeboats!

roly12,

I continue to hold approximately 56,000 shares in this company, as I have done since 2018.

How many shares has Arun bought at these giveaway prices?

Big difference between £30m and £200m.

Surely at least one of those fabled 100 prospective contracts would have struck by now?

There's enough material in that puff-piece to fill an entire volume of BP's Big Book of BS.

oldtramp,

How many people do you think HARL recruited from the so-called roadshows?

A million quid won't even keep the lights on.