Member Info for Chrisatrdg

something should be put forward to try & save h&w the following is a suggestion -

with imagination i am sure a way round can be found to rescue h&w.i wonder how many shareholders would support a consortium of companies willing to invest in the company on the following basis -

1)the current capitalisation of h&w, as at the last close is £14.49m, at a sp of 8.75p with potential tax losses worth circa £25m & islandmagee, if sold for hydrogen storage, valued at circa £25m.

2) a fund raise at 20p would raise £35m (gross).

3) riverstone to defer repayment to 2025 or concede settlement at 75% of current debt..

4) funding from uk government at 80% on original offer of £200m - £160m part ring fenced for working capital & part to settle agreed riverstone's debt in 2024 or 2025 (see above).

the basis above should enable h&w to issue accounts on a going concern basis & allow the markets to judge the package.

these are rough back of *** packet calculations but something like this should be considered rather than watch h&w fail.

My reply to Russel Down -

Russell Downs

Senior adviser2h

Well done Aimee! 👏

1 Comment on Russell Downs’ comment

Chris Xxxxxx

Accounting Professional 1s

'Russell Downs Glad you have seen this Russell my post is above.There is much to support for H&W & as a long term investor in the company I hope you will share my enthusiasm.I know it will be tough but you can turn around the company to become a 'Going Concern'. Please e-mail me - chrisatrdg@aol.com

For those wanting to message those below in support of H&W detailed below are the players who need to be contacted their twitter details for all to see - I have just supported the tweet.

Regards to all.

PS Still all to play for.

Cointreau

@covid_rocky

#SaveHarlandandWolff

@saveharlan76340

@hilarybennmp

@Ben_HandW

@ChrisChrisatrdg

@PaulJSweeney

@RachelReevesMP

@UKDefJournal

@HarlandWolffplc

@UKEF

Quote

Cointreau

@covid_rocky·

Aug 11

@PaulJSweeney well said 👏👏👏@Kier_Starmer_PM @RachelReevesMP @proactive_UK @CliveFPalmer what a criminal state of affairs allowing the demise of 🇬🇧 shipbuilding whilst we uk taxpayers fund £600 million to Chinese Jingye (@BritishSteelUK owner) #Harl x.com/PaulJSweeney/s…

The following has just been posted on LinkedIn the patient is still alive but still in intensive care.Still all to play for.

Harland & Wolff Marine Services LtdHarland & Wolff Marine Services Ltd 1,001 followers1,001 followers 58m • Edited • 58 minutes ago

𝗛&𝗪 𝗦𝗔𝗠𝗦𝗢𝗡 , she is now fully mobbed using a Associated British Ports of Barrow-In-Furness and now on station creating a working platform on the River Levens in Cumbria.

Currently working between tides for GPS Marine and Civil Services Ltd and 🚄 Network Rail's 🌉 Leven viaduct near Ulverston, this project is very complex and needed a lot of pre-planning, working some extreme tidal flows of up to 6knts on springs, with that she is using her spud legs and also secured using a 5 point mooring spread, laid with the assistance of Scaffloat and Carmet Tug Company .

The crew on-board have managed to capture some great photos while working 📷

If hashtag#HWMS can help with your projects big or small please get in touch at 📧 marine.services@harland-wolff.com

hashtag#landingcraft hashtag#busybusy hashtag#workboat hashtag#projects hashtag#Civils hashtag#Networkrail hashtag#Excavators hashtag#Viaduct hashtag#Bridge

Detailed below are the details & link for yesterday's appointment of Mr Alan James Fort - You just need to look at the 123 appointments to realise what his purpose in life is the majority are companies that have now been Dissolved.

12 Aug 2024 Appointment of Mr Alan James Fort as a director on 12 August 2024

View PDF Appointment of Mr Alan James Fort as a director on 12 August 2024 - link opens in a new window - 2 pages (2 pages)

http://find-and-update.company-information.service.gov.uk/company/06409712/filing-history

Hi stokey12 - If one were to apply logic to the situation I would agree with you 100% but we all need to also look at the flip side.

Last night I checked out Companies House & found the following under H&W Group Holdings PLC -

Registration of charge 064097120006, created on 1 August 2024

View PDF Registration of charge 064097120006, created on 1 August 2024 - link opens in a new window - 70 pages (70 pages)

It is a 70 page registration of charge in the form of a 'Debenture' see title page & link.It is a depressing read & shows that Riverstone mean business.In summary if in the 'Event of Default' there will be "the presentation of an application to the court for the making of an administration order in relation to any Chargor; or etc etc

Those that read the document note the witness to the signatory signed on behalf of the company to make people realise the pressures a certain CFO has been under he clearly was working from home & must have been a sad moment for him.

Lets hope we have positive news this week or next if what stokey12 is putting forth is in the mind of this new Government.

Bracewell

Debenture

dated 1 August 2024

Between

THE CHARGORS

and

THE ADMINISTRATIVE AGENT

Link below -

http://find-and-update.company-information.service.gov.uk/company/06409712/filing-history

Hi dawski37 - I support your comments my only concern with the EGM is that it might unsettle prospective Buyers & is why I have not openly supported it so far however your analogy of 'but with our very own "Alan Bates "' I fully understand & he has certainly put a lot of energy into our cause.

Lets see what happens next week, to see if it is true that, now JW has gone & the ferry service has been terminated that the Government are re-considering supporting H&W.

Still all to play for.

Consuela I have you blocked when I register to post a comment but see you when I switch my i Phone on in the morning so then see your posts.

Following an earlier post detailing some of your posts it does beg the question what is your purpose in life by being on this board.

As a non shareholder you clearly have a grudge not with H&W but someone who did run it ie JW so what is it in the dark past that drives you to stay on this board.

This board is for investors in H&W not an agony board.

Your actual identity is known by some & I can only guess you have some common path withJW.

It might help us understand your anger by letting us know what did happen with JW in the distant pass.

Stokey12 - Interesting points including what is his motivation.

Hi stokey12 - Adding words to your link -

1) 'The call for the company and board of directors to hold an extraordinary meeting came in a letter delivered yesterday.The letter states that the “purpose of the meeting is to call for the appointment of a Non-Executive Director to sit with the Board of Directors to represent the interests of shareholders.The letter is signed by Mr Philip Hyde, the Michael Dawe Family Trust, Tom Dobell (on behalf of Sankofa Investment Partners) and Dominic Pemberton (on behalf of Credo Group Holdings).

2) A spokesman for Harland & Wolff said: “We have had interest from many parties, all of which are commercially sensitive. “We will not be in a position to comment on any of them until such a time as Rothschild has completed its review process.”

Hi stokey12 - Would not a shortcut for Clive Palmer be to agree with Riverstone that they assign the loan to his company on the basis of force majeure for Riverstone & he take's over the current process. Just a thought.

Hi BearleyCalls - I have plenty of imagination but you must not be blinded by what can be achieved at a EGM.There will need to be resolutions proposed by those calling the EGM & they will be voted on it is not for chit chat.They can be no confrontation it is a legal procedure & rules need to be followed.In addition those bringing the EGM must have people they wish to take over the running of the Board of Directors who will need to be respected by our industry & the City.Finally I held the position of Finance Manager, Financial Accountant & Financial Controller & had on many occasions to think outside the box in a number of trouble shooting roles.

Hi Bubble2021 - The business has to continue & while they are allowed to trade they will be able to recruit however once the company has no expectation of succeeding then they cannot be allowed to recruit.

Not sure what happened to the caps but hopefully you will get the gist of what I am saying.

hi folks - well we still wait for the next rns to update us on what is happening next but while we wait the following is my take on the current situation -

at present rothschilds are putting a' book' together in order to sell the business to the highest bidder which likely will be by the end of august possible early september.

the recent cash injection is to allow the company to continue trading while rothschilds seek a new investor but time is not on their side as there is a limit to how much longer the current directors or their replacements feel they have reasonable expectations that funding into next year can be found.

on the basis it is unlikely that a 12 month cash runway can be forecast without a deal i am not expecting accounts to be published until there is a deal.

with regards palmer he will have to join the queue of bidders who will be responding to the 'book' that rothschilds will be issuing & seek to get on the bidders list.

with regards an egm i cannot see its purpose except to seek revenge on the remaining directors unless the egm will result in a new team of directors who have the respect of our industry & the city.

however once the 'book' is issued & a buyer is found & prepared to fund the business shareholder approval will be needed & once given the accounts can be issued & trading can start again.

it is a chicken & egg situation no 12 month cash runway & directors will be unable to approve the accounts as a going concern & so util a deal ,which will have a robust business plan , no funds.

there is however another scenario in that the government will now realise that they dropped the proverbial you know what & may seek to reengage with h&w now that jw has gone & the ferry service.any funds however would need to be ringed fenced & used to provide working capital to support new contracts such as the falklands but this means that riverstone would need to defer repayment of their loan unless the consideration for the business from the buyer includes paying riverstone off.

in considering what a willing 'buyer' is prepared to pay for the business he will be aware that there are substantial tax losses that will crystallise once there are pre-tax profits which based on my back of *** packet calculations amount to circa £30m in addition there is im value at best £30m provided there is not a fire sale.

i think that is enough for now but on reflection it is still all to play for but my wife & i have accepted that we have likely lost a significant amount of money & have now cancelled our health club memberships as a starter.

the next two months will tell if all is lost or maybe some form of redemption.

Hi stokey12 - I was invested in Summit now trading on the NASDAQ (SMMT) & Bob Duggan took control of the business after it had failed on its DMD drug.Bob was a billionaire having made his money on launching a new drug which went to market.It is because of his deep pockets that in the last year the SP has gone from $1 to now $10 because he was able to buy into a new drug from China.Sometimes deep pockets are needed but I am not sure Palmer has interests outside of Belfast but he should & yes there are complications being a foreign investor.All to play for I hope.

In all fairness to JW some needed to have attended the last two AGM's & last years investors meeting in London to be able to fully judge JW. I have posted the following on LinkedIn in response to JW's post.

'Thank you John for your efforts which sadly have come to an abrupt end.I am not sure what happened during the transition between Governments but I think that the political optics played a part.I just hope that Riverstone hold back and defer to next year to allow the business to to gain momentum again & maybe the current Government may have second thoughts & provided the additional funding to support future contracts.I know from your comments at last years AGM that up to then those years had been a challenge on you & your family.Regards a concerned shareholder.'

HARLAND & WOLFF GROUP HOLDINGS PLC - Officers.

BAND, Jonathon, Sir

Correspondence address

Fieldfisher, Riverbank House, 2 Swan Lane, London, United Kingdom, EC4R 3TT

Role ACTIVE

Director

Date of birth February 1950

Appointed on 1 September 2021

Nationality British

Country of residence United Kingdom

Occupation Director

GROAT, Maurice James Malcolm

Correspondence address

Fieldfisher, Riverbank House, 2 Swan Lane, London, United Kingdom, EC4R 3TT

Role ACTIVE

Director

Date of birth February 1961

Appointed on 22 March 2019

Nationality British

Country of residence United Kingdom

Occupation Director

RAMAN, Arun Suri

Correspondence address

Fieldfisher, Riverbank House, 2 Swan Lane, London, United Kingdom, EC4R 3TT

Role ACTIVE

Director

Date of birth October 1977

Appointed on 25 July 2018

Nationality British

Country of residence England

Occupation Director

ZOTOVA, Ekaterina Nikolaevna

Correspondence address

Fieldfisher, Riverbank House, 2 Swan Lane, London, United Kingdom, EC4R 3TT

Role ACTIVE

Director

Date of birth April 1978

Appointed on 1 September 2022

Nationality Dutch

Country of residence England

Occupation Director

Edit: I only see John Wood not on the board the others remain.

Just to say my son has just Sold & recovered his original costs with a small profit.

I would like to add as someone who was acting FC back in the day I wish you all good fortune & take care EP.

Hi All - There is now a SP break away my son is up £381 today & SP is rising.Sell or Buy or Hold ?????

PS I am now saying Hold.