Member Info for dawski37

Stokey, dear friend, your “understandings’” are usually worthy of taking note !

Now the question is whether it is 80% of the debt or 80% of the guarantee ..probably the former as you say. JW will no doubt be beavering away trying to sort the best deal now in an improving “debt” market but the next 7 working days are crucial as we all need matters in place by 21st December of course !! The Scilly Season not Christmas is upon us. So now really is the time early next week to fill your bags ——-do not miss out as you have waited so long !!! Noel ,Noel Just think if we achieve 100% !!…………

Yes ,Chris, nail hit right on the head and an excellent informative post.

Yet again I concur with Lotties’ invaluable and incisive “rant” as we are all so frustrated by this bu**er of an investment but two recent saving graces apart form the huge contracts that we have in the bag are :

1. No Nomad would have allowed the “ Scilly Proposal “ RNS the other day (with funding being sourced internally) if we were about to go “belly up “ and

2. There were some significant “buys” after 4p.m. So tomorrow’s opener should be an interesting start to the new month in the “last chance saloon ‘ yet again !!

this post is designed for this dogfarter chap who remains unknown to many of us except for his or her unfathomable diatribes against colleagues.

the luf money is by no means in the bag so any discussion is premature so kindly stick to the arguments projected today which give you the basic answer ,stop ****ging off all the honourable posters here ( which is your daily and only attribute?) ,only post what may reasonably be considered useful open ( not confidential ) information that may be mutually beneficial to us shareholders in this high risk current 5 year term venture with soon to be announced great potential …and just “b***er orf this board and stop bothering folk ! be gone ! never known such unnecessary vitriol ! will have you banned ..for good !

Dog --???? I have to say that I have never understood your rather pathetic and seemingly endless personal diatribe posts But suffice it to say here that I agree with Kaeren and others about the direction of travel ..which is to await and let HARL overcome the hurdle of UKEF this quarter and the JR next Spring and we shall be on our way --Scilly Isles is a potential distraction but necessary for the reasons outlined ----Do not kindly respond to me on this post !

£48m of LUF ( or whatever the precise figure is ) becomes a very attractive amount for any “chancer” ?

Maybe at the worst JW and team are just miffed at losing out to the Vietnam mob or at the least just want to secure a steady future workload for Appledore after the Lithuanian Minesweeper departs and before we are ready to sub contact with Australasian aluminium hulls ?

Whatever we should be concentrating on building ships and not running a ferry company let alone an airline —it’s pure business tactics to force the hand of IOSSC !

Broomtree ..much appreciated x2 —-as Kaeren says this is one to watch as it develops —all very intriguing and tactics will dictate the outcome —will be an interesting example for future Business Studies students etc !

Thanks too, Kaeren, for your input as always here and to you and Stokey for referencing the F.T article about there being no surprise that IOSSC would rebuff “unequivocally” an approach by a loss making Aim listed Co.

Also to Stokey for revealing the somewhat convoluted shareholder set up with IOSSC.

It is worthy of note to tell you that one Lord Berkeley ( a Scillonian of quite some repute ) has been quite vocal in the Lords and elsewhere about there not being competition on the routes and this is probably why the offer of LUF was conditional upon such being allowed and why IOSSC had to go down the route of private finance.

I understand that Lord B is aghast at the impact on the cost of fares by use of Lombard Finance by IOSSC and that we do have in him a highly useful lobbyist with the Council .

If we can sort the UKEF issue out in say the next 3 weeks then Harl will present itself as a far more sound AIM bidder ..OK we remain loss making but what then a future !!

Thank you,Si-D —most helpful and also to Mayanya —very interesting scenario now developing.

JW has been described as a bit of a “chancer” as we all know.

Just look how he moved INFA away from the “one trick pony” that I.M had become in 2000 and “ chanced” upon Belfast supposedly than as a fabrication centre for I.M. Belfast had never made a profit for years and the workforce were due to the scrap heap.

Look at its prospects now ! He then chanced upon Methil and Arnish where a sizeable investment had been made by the Scottish Gov. O.K Saipem did not work out supposedly through no fault of or workforce there ( duff steel from Indonesia and Saipem’s own problems were sighted as the cause) but it remains strategically situated on the Scottish East Coast.

Arnish has been amazingly successful to date as has been Appledore with an ever increasing workforce .

So our “Scilly” adventure may not be so silly after all and may well be a chanced and successful diversification …as long as we may not be involved in Skybus ….after all am not aware that either JW or AR have pilot licences !! ???

K , Do you happen to know if IOSSG has actually finalised and contracted with the French company ( Piriou) to have its proposed replacement ferry built in Vietnam --that is a reasonably important issue just at this critical moment ?

TTNY tipped me off yesterday to the now well publicised news that this beauty actually suffered some minor damage on its recent journey to be laid up at SRQ during the winter whilst work takes place on the King Edward V111 pier at Douglas.

Apparently the ship may now have to enter the Building Dock for minor repairs...am sure that the true nature of the cause of the damage will soon be revealed but it's a bit more unexpected bonus work for the lads in Belfast after W.B. Yeats leaves next week .

Just hoping that it will not be contagious ! I would have thought that our lads especially in Belfast are only too thankful for a virtually guaranteed flow of steady work backed by significant investment in their future. Subject of course to U.K. Export Credit Finance being sorted !!

"Sea Rose" of course --my apologies !

Well, they are not likely to award significant contracts to a Company about to go bust are they now ? .. JW will have used his inestimable persuasive powers to convince the Sear Rose and Cory barge folk that all will be Hunky D. Am surprised that the SP has not really moved today .....I guess it will later xx

I am told that “she” is being laid up for the winter —cheaper in Belfast than Birkenhead !!

I must have upset Microsoft —they have taken my capitals away ..but ,hey ho ,the message is clear —-we are coming to the end of the voyage with land in sight and the grass is very luscious green !!

Kaeren of course —was it Microsoft or me ? !! Apologies —you know me well enough. !!

just too right ,kieran…

we have had a torrid 4-5 year voyage at least for those that invested in im ( that ble**ing hole in the ground near ballylumford ). i for one first invested in 2010 and saw mr po**** come and go and jw and ar arriving on the scene.

it did not take both of them to see that i.m. was then a “one trick pony” and jw “chanced” on h&w ,methil and arnish , appledore and much more ( scillies !!) in order to diversify .

high risk in view of the huge finance costs but with searose secured and refinance due very soon we can at last see land ahead.

i retired from legal practice some years ago now but i always remember that in difficult appeal cases it was best to achieve security for costs at the earliest stage and i understand that we and the department have this in hand .

i am not an expert on litigation but there well may be claims for malicious and vexatious litigation over 3-4 years causing h&w highly significant losses .we shall see.

there is talk about that the appellants are using further delaying tactics just waiting for us to keel over during the current economic troubles …but but we have team resolute and navantia with us ,the current and future !! governments on side ,actual sizeable profitable contacts and transfer of much needed high technology, a dedicated and experienced workforce , 250+ apprentices and sufficient expected dockings throughout the winter ..lots to look forward to.

i expected the sp to rise rather more on friday . sea rose is a cracker after all. as and when refinance is confirmed ,well as k says you will then be singing jw and ar’s praises for “ putting the one trick pony out to the field “ xx

without jw and ar we would still be stuck with that ble**ing hole !! …and the pony !

I thought that this meant to be a constructive family friendly board ..until about 9 months ago that is —great news today and nothing to worry about over at Larne IMHO !!

Forrest ..we need guidance by RNS or otherwise as to the likely timetable ahead in view of the confusion over the last few months ,not just over this last episode. Surely the lawyers can help guide the BOD here ...and quick !!?

Great to hear ..we all thought for one scintilla of a moment that "you were a goner "!!!