Member Info for Citizenlane

Wasn't it rather that the levelling up funding comes with certain caveats? ie have to use UK yard for build, can't cross subsidise air business etc. And Harl wouldn't be in the same position as the SSC precisely because it would be building the ferries itself and not borrowing funds to do so but being subsidised by the govt. It has always sounded like a win win to me - not least to keep Appledore busy and skilled up priorate FSS No?

Note from Hilary Benn also: Hilary Benn

@hilarybennmp

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1h

It was a great pleasure to visit you today. I was so impressed by your vision for the future of the shipyard and the company, and to hear about your plans for the three new Fleet Solid Support ships for the MOD.

@HarlandWolffplc

is definitely on the up.

Interesting response to that anniversary announcement from Paul Sweeney MSP, mooting the idea of H&W "returning to the Clyde for the first time since 1963" - any idea what that's about? Also 1000 employees, is that rounding up from 800 or are there that many new hires? That finance surely can't be far off...

Couple of very chunky buys there - perhaps the sound of a finance deal falling into place this week

Assuming they are sticking to the Q4 deadline for finance (slightly big if - though the delay through the highest interest rate period in modern times has been entirely justified imho) there are four weeks to go ie any day now. No doubt there will be some plusses and minuses in the deal, but the security it will provide as Harl gears up toward FSS and beyond will be massive. At £20m this is still priced for risk and failure. Be very interesting to see what the prospect of proper solidity and growth is worth. I stick by my belief that there is a £250m company hiding in plain sight behind the current unease. DYOR

to me it just feels like the amount that bab**** or bae would think of stumping up for a takeover bid in a year or so at the point harl really starts to fly

Fact remains that if Harl has a £250m+ mcap at the time the FSS work begins the valuation will feel about right...

Crowdfunder still stalled at a tenner - not exactly a ringing endorsement for the appeal - but at least enough to buy the lawyer a couple of frappuccinos

Still only a tenner on the crowdfunder

The crowdfunder has got off to a storming start - so far it has raised £10. Looking at the basis of appeal, both grounds were thoroughly addressed and comprehensively dismissed in August. Isn't the definition of insanity doing the same thing and expecting a different result? Be interesting to see how many people are willing to chuck more of their hard-earned into the lawyers pockets... 29 days to go

Shouldn't be a big issue. There are caveats to visa costs involving seconded workers and training providers on high value contracts, see here: https://www.mites.gob.es/es/mundo/consejerias/reinoUnido/portalempleo/es/PDF/Guide_to_the_posting_of_workers.pdf

Broomtree we could do without Putin shills on this board. History doesn't look favourably on appeasing tyrants.

Probably Gary Newbon, he heard it from Richard Keys

Hadn't heard it until you make it up

Or, indeed, a monopoly on the route... certainly blows a hole in their £90-fares based business case

Https://www.itv.com/news/westcountry/2023-09-26/new-rival-ferry-service-pledges-to-slash-journey-times-and-fares

they seem to have the council - and therefore compelling access to levelling up funds - well on board

They only said they would curtail drilling activity to concentrate on the cash position, which they have done. Obviously with winter prices that will improve from the current challenging situation. If they can negotiate past the end of this month - my hunch is they likely can - there will be one or two more options to improve that dwindling cash pile. The RNS was required to inform of Nailsworth etc, other than that told us little we did not know at 2.5p a share except the shutdown went to plan. . Time will tell on this but six months of gas at £1.40 would change their fortunes imho, particularly if they can squeeze some life out of Blythe 1.

700 - 800m govt contract in the context of a £20m mcap company sounds quite impressive to me Broomtree. Is there any AIM comparator with similar numbers?

DF, Consuela, you sound increasingly obsessed with each other, like some old married couple, why not just get a room?

Important exchange for Harl in the commons - sounds very much like the UKEF guarantees are in place, which makes the new finance package close to a no-brainer. It seems crucial that with an election on the horizon the government continues to make H&W the poster company for its industrial regeneration plans. It will have all the critical backing (and perhaps contract sweeteners) it needs in 2024 through to FSS imho. There are plenty of votes in a revived shipbuilding sector across multiple former 'red wall' and levelling up battlegrounds dyor