Positive RNS9 Nov 2022 07:44
I interpret this mornings RNS as being a positive RNS & sets the scene for the next phase of the Companies future & in John Woods comments it says what we want to hear.I believe this RNS sets us up for that substantial expected win & others & is the basis for the proposed new financing also the timing is significant.
John Wood Chief Executive Officer commented:
"We are delighted to be entering into this new facility and partnership with Astra. The enhanced financing will be incredibly useful to meet our capital expenditure and working capital obligations towards some key and large contracts that we have been negotiating over the last 18 months, due to come to fruition in the next couple of quarters.
As a UK based private debt lender, Astra are intimately aware of local dynamics of shipbuilding, levelling-up and energy security and we look forward to closing this transaction with Astra within the agreed timescales."