Member Info for juyamah

The facts are the company with a current market cap of 15 million has a debt of 100 million that needs financed, clutching at straws such as the Gas Caverns is pointless for the obvious reasons, it may be an asset but its value as is, is negligible ( as pointed out by Consuela), the idea of a billionaire coming along and pumping £200 million into HARL is a great idea but what will that leave us current shareholders with??? I doubt it will be some grand philanthropist gesture...so please does anyone see a feasible short to medium term solution to HARL's Debt situation other than a government Bail out? Everything else looks to me like clutching at straws.

To be honest I think there is little or no chance of HARL coming back from Suspension, the debt is simply too high.

I think there will be a deal to keep Harland and Wolff alive but that will be without the current shareholders.

I hope I'm wrong..

Forrestgump

I too have no issues with Arabs, I worked there for 6 years based for 3 years in Juyamah hence my name.

I found the vast majority of the people friendly and generous, however they did not easily accept any contraventions of there religious laws, their religious police the Mutawa once spray painted a teenage western girls lower legs black as they thought her below knee skirt was still too short, and a coworker of mine was taken and held overnight in jail for eating a banana in a Saudi street during day light hours in Ramadan, you have to obey the rules of country you are in..well in some countries you do.

ForrestGump

If he really wanted a replica of Titanic he would have had one years ago....built in Korea at a lot less than being built in Belfast...it's all publicity and smoke and mirrors...he won't invest in Belfast if you ask me....our only chance is getting the Wood legacy dispatched to the waste bin and a BOD concentrating on preparation for the fleet support contract...all the other spending on fantasy projects need paid for so that's the stumbling block.....time will tell and I accept your views so let's both keep our fingers crossed as we do both have the same end game...

ForrestGump

Ok you are set in your position, probably best to leave it at thet, but you didn't answer my question about their ability to build Titanic II as that seems to be the only thing that can save the company if not a government guarantee...

ForrestGump

It was the recklessness of the CEO in his scattergun approach to running the company that's caused the issue with the government guarantee, if the new board can get HARL through this trouble and back on to concentrating on the Fleet Support contact then there may be a chance of Government Support...you need to look at the bigger picture and accept how this company looks from the outside...it may be called Harland and Wolff but it's as far from the original Harland and Wolff as a Rolling stones tribute band is to the original....could they even come close to building Titanic II ? They are struggling to build Thames Barges ..

ForrestGump.

We all make mistakes...my biggest mistake was way back in the early 90s with Trafalgar House who looked too big to fail but did....it was a hard lesson and like you I knew it was wrong to stick with it but I didn't want to take the loss...the lesson learnt is don't get emotionally involved and don't invest too much in any one company, I've made good money this year on a couple of companies to more than cover this loss ( if it comes to that)...

Just moved back into profit on MCG, that's the first time I can say that in many a long year.

ForrestGump

"Hi Bubble. My money has been on Serco being given HARL for a $1 for about 18 months now!"

If you really thought that, why did you stay invested ?

Well here we are another AIM share going the way of so many others, build up a company on borrowed money, then sink under the debt, at least we were spared the constant dilution by new share issues.

I can't see anyway that we as shareholders will recoup any of our cash..

As with all shares you buy and hope, but the AIM market is a whole different level of risk..

The really surprising thing is it's not a AIM listed stock it's on the main market....but everything else you said is pretty much spot on.,....£32 million market cap at listing and not yet produced enough product to fill a single roll up.

`I'm in agreement that all potential sources of new finance should be thoroughly explored, at least to the point that we know what Mr Parmer would want in return for the cash injection of £200 milllion, I think it might be much more than mates rates on the building of Titanic II, which I doubt the H&W of today could economically build anyway.

With a current market cap of 15 million and debts of 100 million, I cannot see how any deal would be especially good for us current share holders other than the obvious of keeping us afloat, either way I cant see the £1 party on the horizon anytime soon.

Discussing... the action or process of talking about something in order to reach a decision or to exchange ideas:

Bickering... petty and petulant quarrelling especially when prolonged or habitual.

Yes, thought so, Definitely much more bickering than discussion on these boards.

Https://www.youtube.com/watch?v=p79GmLNLMrY

Forrestgump

But might God be on our side?

really?...I hope we don't need to bank on divine intervention .

This Aussie does seem to be a bit of a colourful character, but when you need a straw to clutch at anything will do, I hope he's still showing interest when (and if ) we come out of suspension, we might just be able to exit without losing it all.

Many times over the last couple of years did we hear the former CEO tell us that there was deals on the table but it was about getting the best deal whilst he was spending money like a drunken sailor.

I guess he must have thought the government guarantee was a certainty.

I posted back last year that this company was getting more like the typical AIM listed company, Plenty of Rainbows with no pots of gold. I sold half my holding back then but kept 16,000 shares, I should have sold the lot .

ForrestGump

Looks like you are having a bit of confirmation bias going on there..

I think he very much did anticipate this outcome, and found a nice harbour of his own to sit it out.

It looks very much like the press have been been on the right track all along.

His scattergun approach to starting project rather than growing the core business was what led us to where we are now,

The saying a Jack of all trades and a master of none springs to my mind .