Brilliant post dawski37 we live in hope. Regards CM
Hi Lottie123 - I attended the AGM last year & this year also attended the investors meeting earlier this year which we both attended.I concur with your numbers & I too was expecting this years target to be broken expecting that JW did not want to be caught short again with FCST turnover figures.In addition we are still waiting for the refinance RNS which I had expected in November but there is still 3 trading weeks left before Christmas & will be concerned if it moves into next year.I however still believe in H&W but it can be very frustrating watching on the sidelines.
With regards determining what is the basis of arriving at a companies turnover there are plenty of accounting standards that determine the basis of their calculation it is something that is not new.Booking turnover on the basis of receiving funds in advance of a contract starting does not count.The link below takes you to the notes to the accounts for Yr 31st December 2022.In summary there should be no circumstances in which it is not clear when to book income for work done based on a signed contract so I am surprised at todays RNS.
http://www.harland-wolff.com/annual-report-2022/#annual-report-2022/64/
John Wood speaking at 11.35 this morning at the Mello conference - funding announcement I wonder?
Calculation of offer by H&W:
Shares issued by Isles of Scilly Steamship Co Ltd per details filed at Companies House - 1,455,438 at 395 p per share X 80% = £4,599,184 these figures tie into the offer letter from H&W.
Link to Companies House - Accounts 31st March 2023 due by 31st December 2023.
http://find-and-update.company-information.service.gov.uk/company/00165746/officers
Edit: Accounts Year to 31st March 2023 are detailed by drilling down from earlier looks posted also their interim accounts 6 months ended 30th September 2023.
Hi stokey12 - Detailed below is the link where I have got the detail posted earlier I hope that helps.What I will check is that the 'Group Accounts' I am referring to is the one H&W have offered to take over. Having read the letter per link below I believe I have the right company so my earlier comments remain the same.Regards CM.
http://www.londonstockexchange.com/news-article/market-news/statement-re-recent-speculation/16226648
Edit: By drilling down you will get to the letter that H&W issued to Isles of Scilly Steamship Co Ltd dated 17th November
http://www.islesofscilly-travel.co.uk/wp-content/uploads/2023/11/HW-Approach-17-November-2023.pdf
Hi Si_Derman - The figures I quoted are from the interim accounts quoted on the Isles of Scilly Steamships Co Ltd website found by going through the links per last nights late RNS issued by the Isles of Scilly Steamship Co Ltd.
Furthermore:
See below new company formed in Singapore by Isles of Scilly Company
http://find-and-update.company-information.service.gov.uk/company/OE029122
Http://www.islesofscilly-travel.co.uk/shares-annual-reports/
Drill down to the following showing net assets at £23m
Isles of Scilly Steamship Company Limited:
http://www.islesofscilly-travel.co.uk/wp-content/uploads/2023/11/Interim-Accounts-2023-Combined_updated.pdf
Edit: The recent accounts would suggest a value in excess of the H&W Offer.
Thanks for the post Kaeren - Just looked up the link looks like the new person has many people congratulating her clearly has many contacts looks good for H&W.
Dawski37 - Great posts totally agree with your comments hopefully JW & his team will deliver the goods in the final month of 2013 on a finance deal which will be a great way of ending a much improved year.
Hi All,
Below is the link but I for one will not be going having looked at who the speakers are.
http://melloevents.com/mltickets/
Clearly today’s RNS indicates that a funding deal is around the corner but clearly not yet. Onwards & upwards.
Hi wyndrum - I agree with you. Regards CM
Hi Wyndrum - I also am thinking that there will be a re-rate once we have the new finance package & I am hoping that we will go beyond 19p at best for now 25p. Certainly 25p & above after a positive JR result next year. Regards to all.
Hi thewonderer - I have already mentioned refinancing today & posted it in reply to Ben Murray.
Hi Lottie123 - As someone who also attended the investment meeting earlier this year & this years AGM I note your comment this morning 'A little more patience needed.' I was wondering what your views are with regards the awaited 'finance deal' as to if it will be this year or do you see H&W missing another deadline on this matter & completion early next year.Regards CM.
Hi Kaeren - Good synopsis of the current situation with regards the anticipated finance package news - dotting of the I's & the crossing of the t's sounds like a good place that they maybe at.Fingers crossed.
PS: The only problem for me is that on many occasions during my many years of investing in H&W I have been disappointed when deadlines have not been met hopefully not this time.
Hi Kaeren,
The question raised about when the deal would be completed by & could it go into next year came from me & I asked it to deliberate entice JW or Arun to say if it could be carry forward into next year as opposed to being certain it will be completed by the end of Qtr4 Yr 2013.My reading of the situation is that there may not be a deal by 31st December 2013 for many reasons.Fingers crossed.
further details:
@bab****plc
' has paused the dispute resolution process with the mod over inflation-induced cost increases (c£50-100m) to the type 31 frigate programme.
now pursuing "a collaborative solution that will ensure the profitability of the contract".
bab**** are also finalising design activities including integration of mk 41 vls.'