Member Info for ForrestGump

Onshore Wind Farms might yet be a boon for us!!!

I foresee huge problems ahead if we don't secure debt financing, and fast.

The Labour party are about to go on a Netflix Zero crusade. Now that will be great if the money goes on Wind Farms but where's the money coming from?

The UK doesn't have the World's Reserve Currency. Without it, massive interest rates loom!

GLA

Conseula. There are over one thousand workers, and apprentices, that are glad of one man's BS. Some might call it by another name - vision.

That said, this Isles of Scilly business might yet sink him, the workforce, and people like me!

Let's hope not!!!

ATB, FG

Sinterklaase. I was thinking along the same lines. I'm in POW and have dipped my toe back in KAT. Rick Ruke would be a Godsend for us!

Sometimes truth is stranger than fiction!!!

Steveiom. Max's problem is that he appears to feel compelled to comment. Maybe he's on someone's payroll or maybe he's just addicted to commenting on a share he's better house on. We'll never know.

Might the share price drop even lower without the comments made on this message board? My guess would be yes.

So, maybe we should let Max, and Chris2, comment to their hearts content?!?

However, our problem is whether, or not, the BoD are capable of getting someone to build a little road, hire a few diggers and haulage trucks before we all lose our shirts.

Do they have the capability, commitment, and cajones, to get the job done? I have to admit that it's looking less, and less, likely!!!

Normbeef. It's not over, until it's over!

Chris2 can't be allowed to beat us!

There's no rhyme or reason for it - its just got to be that way!!!

Hi Stokey. Well if you are right,and it wouldn't surprise me if you were, then the UK Civil Servants don't know how to interpret or apply UK legislation.

Which might make sense if one were to assume that they seem to try to override UK Law, superseding it with pro-globalist Brussels Law, whenever they can!

It does look very much like John Wood has thrown away HARL's Export Credit Guarantee because we didn't secure a lucrative ship building contract.

Common sense dictates that no government will guarantee our finances in order that we are able to bankrupt the Steamship Group. Even if the Steamship Group did a deal that likely intends to squeeze massive profits from the locked-in inhabitants of the Isle of Scilly.

Therefore, Messrs Wood and Raman need to IMO either:

- throw in the towel with Scilly Ferries

- provide shareholders with a credible alternative, improved, financing package.

Methinks we will get neither.

Tough times ahead, but Steamship Group are toast if we make it.

GLA

Sir John appears to have expected to have secured the order to build the Isle of Scilly ferries. His strategy IMO is to bankrupt the Steamship Group, as the terms of their financial deal are way, way, worse than HARL's.

It makes great business sense - if we win!

Here's the last half of the article:

Harland was plunged into turmoil in May when it was revealed ministers were withholding approval for the £200m loan guarantee promised to the company back in December.

The crisis triggered concerns about the company’s finances, as well as the £1.6bn Navy contract it is expected to deliver.

Harland has applied for the loan guarantee via UK Export Finance, which is aimed at freeing up money for its expansion plans by moving debts onto a lower rate of interest.

Currently, the company is paying double-digit rates reported to be as high as 14pc.

The new £200m loan would be provided by four commercial banks but underwritten in full by taxpayers.

Talks between the company and Whitehall officials are still ongoing despite the general election campaign.

However, they have recently stalled amid concerns the support package risks falling foul of state aid rules.

That is partly because of Harland’s plan to launch a new ferry service in the Isles of Scilly after a local rival warned officials that a 100pc loan guarantee would breach competition laws, as revealed by The Telegraph.

Go easy on the Chowmein and Vodka!!!

An extra £30 Million for Searose. Can't beat it.

Hi Conseula. It's clear your sentiments lie with the Beijing/Moscow axis, explaining a liking for Vodka and Chowmein!

As for HARL. We can thank our lucky stars for the SeaRose FPSO contract, with its increase to the initial scope of work to be undertaken by Harland and Wolff on this contract and significant increase of over 50% from the base contract value of £61 million.

There'll be little for LTHs to see here for at least a few days. I can think of better ways of spending my time than watching the Haters Hate.

ATB, FG

Fair and impartial - that's the BBC for you!

Opening line of an impartial news article:

"The Belfast-based shipbuilder Harland and Wolff lost another £43m last year, its latest financial statement shows."

However, the BBC are likely one of the many mouthpieces of Sir Keir Starmer and the Labour Party. Therefore, methinks, that unless Reform UK smash it on 4th July the funding guarantee might well be in jeopardy.

Let's hope that Sir John has a good Plan B, that won't smash the company on the rocks!

I think I won't comment again until the next RNS.

GLA

JFK. What, they needed one week as a liferaft after just agreeing to an inflation busting pay rise for workers, plus funding the Isles of Scilly ferry service?!? Really?!?

Next year the FSS works comes online, added to which will be revenue, during the summer, from our Isles of Scilly ferry service (which by then might have bankrupted the Steamship Co.).

Other contracts, such as Falklands Floating Dock, plus possibly something to do with Wind Farms should be on the cards.

Basically, we making to May 2025 and it will be plain sailing to the £1 Party and Dividend Heaven!

Might we be dealing with Nigel Farage? It definitely won't be Sunak or the Tories!

Just to add that Conseula will likely soon join us, after a late night on the Vodka and Chowmein. She/he is likely to be most disappointed at the very "temporary" suspension!

This looks very much like a pre-planned kick in the balls to the Tories. There's no way the accounts couldn't have been agreed before last Friday.

The shares will be back trading in about a week and the next major contract win will likely include a line about the UKEF guarantee being good to have, but not essentially for the company as an ongoing concern!

Bubble. Methinks all looking good for us. In hindsight it seems obvious that Sir John has kicked the Tories, where it hurts. And likely scored bonus points with Kevan Jones and the Labour Perty in the process!