The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Xenor - I agree with your post I believe the decision in principle has been agreed the banks are not at risk it is a matter of the paperwork & working with 9.00 to 5.00 civil servants & having worked within a civil service framework there is no thing as overtime. I am expecting an announcement within the next two weeks if not an update at the end of March to confirm it is in progress then expect deal shortly.The announcement likely to be accompanied by a trading update & if positive I see this going to circa 20p.
I cannot believe that we will not get an update soon to correct a very clumsy RNS issued yesterday & to those ends I have made a further top up of 700 shares.Time will tell.GLA. PS Our saving grace is that I believe that the science is sound & having worked in Biotech I have some understanding of the challenges that exist.
Following various posts on here re the new finance deal ,expected this month. I would like to add that my understanding from what I have read is that it can be used for working capital for both export and domestic contracts, capex etc. The whole purpose of the exercise is for them to get rid of the current expensive deal which will be good all round but for it not to be restrictive. As I said before if there was some form of hold up we would have been informed by now.I am expecting a rerate this month to hopefully 20p provided we have an equally positive trading update.Regards to all.
Hi All - Made a small top up this morning of 315 shares to bring my average to 68p. My total number of shares is not that high more of a gamble for a few years down the line.SAR has great potential & I am banking on a multiply of the current SP as I said in a few years time.I cannot believe that the current directors have made the decisions they have without due consideration particularly when they must be thinking of their future retirements.Selling the company maybe an option they are considering.
Hi dawski37 - I support your post & have every confidence that the finance deal with be completed successfully & likely in Qtr 1 2024.If H&W were not on the cusp of settling the deal by the end of Qtr 1 2024, at this late stage, H&W would have had to have updated the market.I am now showing 'Strong Buy'.
Throwing caution to the wind I think it is time to be positive maybe todays current SP increase means maybe the worm is turning.I have just checked the http://onlineservices.justice-ni.gov.uk/publiccourtlists/SearchScreen.aspx & there is no listing for the hearing relating to the IM JR appeal up to Friday 22nd March which then leaves 4 days the following week before Easter.My expectation is a hearing in April.Enjoy the rugby for those that follow.
I thought it might assist to know where H&W are with this potential contract award below is the definition of 'Preferred Bidder' & shows how close they are to this contract award pity the current SP does not reflect the significance of todays RNS.
'PREFERRED BIDDER is the bidder who is selected by the vendor, usually to some predetermined criteria, as being the party to whom it intends to sell the business, or award a contract, subject to the completion of negotiations and legal arrangements.'
PS Confirmation of todays RNS & the finance deal should take us to 20p.
Hi Kaeren Totally agree with your comments. I have to admit although final contract award is required they would not be announcing this RNS this morning which is clearly price sensitive unless confident award will be made.We now need the finance deal & we are then holding onto shares that will climb in value over the years. Totally unexpected with the news.Well done JW & his team.
Alexander Nairn
Alexander NairnAlexander Nairn • 2nd • 2nd
Senior Vice President - Major Projects at Cenovus EnergySenior Vice President - Major Projects at Cenovus Energy 5d • 5d •
'Stunning picture of Cenovus’s SeaRose FPSO in the H&W Drydock in Belfast. Good luck to Neil Martin and our project team that are managing the repairs and upgrades!'
http://www.linkedin.com/feed/update/urn:li:activity:7169211909286604800/
LSE03 - Thanks for that post & underscores what I have been hearing from my source that things are on the up & the article that you showed the link for is proof of that.Thanks again.
PS A bit disappointed that there was no RNS business update this morning maybe next Monday 4th March.
PPS I am showing Hold which reflects what I am doing but if I had a spare few thousand pounds I would be Buying.
Hi All - As previously mentioned I note that we had a 'Business Update and Outlook' on 1st March 2023 I wonder if this will be repeated Thursday this week or do we have to wait till we have the finance deal confirmed.
PS: Let's hope we have reached the bottom of the SP drop.
PPS : Not sure I would want to bet a £5 on having the recent IM Appeal squashed.
Hi Bubble2021 The problem with topping up is when to do so as the SP is still falling. I am tempted to add another 3,000 & hopefully double my money in 1 month. But do I see a pig flying by. Regards to all.
Under 10p to Sell.
Hi Lottie123 - Thanks for your post this morning. As someone who has attended the last two AGM’s I am very disappointed for the SP to be below 10p. As a long term shareholder even I am becoming despondent at the lack of news & have made an approach to H&W for at least an interim update but no answer. Once we have the finance news the mood will change but some will wonder how & earth H&W were awarded that MOD subcontract starting next year.Moan over.
The Annual Reports & Accounts Yr 31.12.23 now published but showing they do not have a 12 month cash runway hence a 28.5% reduction in the SP.All very depressing as they are totally reliant on Duggan digging deep but at 79 how many more years will he want to continue to invest.The following is the note re cash runway:
'Updated Cash Guidance
With the extension of the $100.0 million note, we updated our cash guidance such that we now have sufficient cash to operate into the first quarter of 2025. Our prior cash guidance was to have sufficient funds going into September 2024.'
It is difficult as to what to do but the SP has not been able to go above $5 my son is still invested but Holding.
Extract from Seeking Alpha
'Shares of Summit Therapeutics (NASDAQ:SMMT) plunged 28% in afternoon trading Tuesday after the company released its Q4 earnings report, filed a mixed shelf registration, and disclosed it had extended its cash runway.
Earlier Tuesday, Summit reported a narrowed Q4 adjusted loss of $0.04 per share with no revenue.
The company added that the maturity date for a $100M note from its chairman and CEO, Robert Duggan, had been extended from Sept. 6 to April 1, 2025, thereby extending its cash runway from September 2024 into Q1 2025.
Summit also filed a mixed shelf registration for the potential sale of up to $450M of its securities.'
Hi Kaeren - Your post is spot on & for me I am just waiting for the finance deal news which I am expecting by the end of Qtr 1 2024.After the news all else will follow & we can then look forward to 2025 & of course the IM JR in the next month or two.Regards CM.
PS I am now showing Hold due to the continuing drop in SP.
Hi All - I have just read the Edison report & I am amazed at the current SP.I believe that there are not many Biotechs with Sareum's potential at the current SP.My small investment is for future years when I hope that it will turn out to be a multi bagger.However for some the current SP is hurting a lot & I really feel for them & it happened for me with Summit but finally got out with a break even position.
Hi wyndrum - Thanks for your post but we are all frustrated however H&W has too much now & planned for the future to fail. I believe in JW & his team to deliver for us all.As for time I am expecting news in March. Regards CM
Hi RichardMcV - Thanks for the link - below is the accompanying message:
Harland & Wolff@HarlandWolffplc
'Across the Irish Sea they go…
Specialist parts manufactured in our Arnish yard are on their way to its sister yard in Belfast for use as part of the refit of the FPSO SeaRose, which arrived at our historic dry dock this weekend.
These test pieces were delivered to a very tight deadline, with the team at Arnish, on the Isle of Lewis in North West Scotland, working 24 hours a day to complete these buoy seal test plates to schedule.
Harland & Wolff’s multi-site business model allows it to drive capacity and capability to serve client requirements where it is needed.
The yard at Arnish currently has a 150-strong workforce and a thriving apprenticeship programme.
You can find out more about Arnish and the highly skilled work it delivers here:
http://harland-wolff.com/facilities/arnish/