Member Info for BlairPeach

Just stay off the port! How anyone can drink that is beyond me; diabetes in a bottle...

Oh, go on then.

I have 5.7m.

That's more like it!

Is she trolling us?!

spud,
I have had a few beers, so I am giving you a thumbs up.
Otherwise...

Debt.

Marine82,

Excellent (if brave!) post.

I have long maintained that the ONLY hope for this company is Government support of some kind. I also posted in December that the H&W acquisition, whilst anger-inducing, would increase the likelihood of State funding of some kind.

Mind you, the cash position is making this look a bit DeLorean-esque...

Should have stated Government loans and grants.

whatamess,

Government loans during the COVID crisis are only available to positive trading companies.

That is not to say that INFA won't receive some form of State support, however (indeed, this is probably the company's only hope and they may well get it).

Jabido,

I had assumed that someone would have reminded you of the debt facility taken out in February, at brutal terms. Since no-one has stepped in, I will less gently remind you of same, as well as stating that, if you can't keep on top of a company's debt position, perhaps you shouldn't be investing at all!

Jabido,

Er, really???

Don't forget the debt!

Good post, spud. I hope you are correct.

In the recent interview with LSE, JW did rather pile on the fact that the original marine licence application had been a total fustercluck (hence the departure of the previous chairman?). It seems clear that the last 12+ months of pain can be attributed largely to this. I appreciate the fact that JW has (finally) come clean on this.

With hindsight, it would seem that the setting of milestones was done without a full appreciation of the severity of the marine licence situation, which, whilst naive, does cut JW some slack.

I do wish that we could have more clarity as to H&W's operations.

I thought that JW came across far better in this interview than he did in the last one broadcast. He seems to have matured as a CEO, more modest, less ****sure and no putting out of unrealistic milestones.
Assuming the marine licence is granted, funding for IslandMagee is going to be interesting.
He clearly takes on board the criticism from here (and elsewhere) around the lack of information issued re contracts for H&W, nevertheless I maintain that he should be less elusive in this regard; throwing out impressive-sounding numbers is all well and good, but we need substance, man!

Hopefully he will deliver more than an Easter egg!

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."

Loosegoose,

I couldn't agree more...

Loosegoose,

All the assets of H&W are already hocked to the February leg-breakers!

Hello Lottie123,
Are you sure that you weren't right the first time?!

Careful what you wish for, whatamess...

I think it safe to say that all investors here are, at best, frustrated, at worst, downright angry.

Some choose to direct their anger at the Board of Directors; others turn on their own.