Member Info for Kaeren

Well bin off my latest missive.

If the CFO pulls off the Riverstone deal and the govt issue a guarantee / viable working deal, then it was the correct call to suspend the shares.

I say if because, quite frankly, if the share was still being traded, it would be worth very little. The constant leaks have been beyond belief.

If Riverstone advance further monies it must be in the belief that it will enable them to recoup their outstanding loan. They won't be able to secure against existing assets. If JW's demise is part of the package being negotiated/ has been negotiated, then I think perhaps that is what the govt have insisted upon. If loan extension is a bridging loan to tide the company over until a guarantee is issued ( then Riverstone recoup all monies) why would they give two hoots who is CEO. I could be totally wrong and perhaps the CFO has persuaded Riverstone they stand a fighting chance with additional funds , but that seems unlikely as the amt is just too low.

Monday it is then and here's hoping the share comes out of suspension & everyone can decide to stick or flee.

Going out for the day as this is more than frustrating. Too many rumours and nothing official. If true then who will be interim CEO ?

I think we... will get some answers very soon.

Red dot expected imminently. 😐

These articles never mention why they are so in debt. If they had not had to hire in advance as stipulated in the FSS contract , over 1000 extra staff , the debt would be manageable. The risk identified in the contract was finding staff with the right skills etc , how the hell did they expect them to pay for that. Sounds like they have been strung along by the govt for 18 months.

What a shambles , whilst we offer support globally in very unstable areas where there is a very high chance the tax payers will indeed end up paying for it.

I think we

My abacus Is in a time capsule in Blue Peters garden Mary.

Just in so far that it tells the market some form of financing incoming ,

Actually just given my head a wobble.

Would be clever to leak that.

Thx

What a bloody joke.

Now inside leaks supposedly.

Must feel great you can't trust your directors.

Without a financial package agreed, I don't see how auditors can leave their comments as 'material risk ' their comments are not about the 2023 accounts , they will relate to Harls future ability to pay its bills! Hence my belief a financial package & accounts are inextricably linked.

Regarding the latest FT article and the supposed removal of JW ...

1. A load of nonescence

2. Government want a scapegoat to appease detractors prior to granting UKEF guarantee. Qa

3. Riverstone request... but how would that benefit them in any way.

Back to sleep 😴

You're dreaming , days of dilutive placings history.

Commercial loan at decent rates from banks not loan sharks if required.

8 mill more shares bought than sold and they drop the price. Blue finish.

Maybe LSE03 has the table of issues that the council produced . I'm not on Facebook so can't access but was posted on here( think it originated from Facebook)

Err 👎 they were offered the LUF. They declined citing reasons that the Isle of Scilly council claimed were not just unfounded but untrue.

So zero sympathy from this quarter re pursuing a commercial loan.

So long as it's not Harl being sold, "Frankly I don't give a damn" ;)

Yes Si_D must be awful !

Interesting to note that none of the 'big hires' have abandoned ship AFAIK

Think we need to come out of suspension with a guaranteed loan and get some tenders in, be awful to see more ferries awarded to yards in Vietnam ( IOSSC celebrating this today on linked in)

https://x.com/geoallison/status/1813190062445662657?t=wWuT2uoodQDutlS5yWxqlA&s=19

So is the tiny boat called the SeaRose.

It's the point where they play games to let the big boys enter. 11 million more bought than sold and a couple of % up. Really ?

I think a nice collage of all the govt ministers who have visited the yards in the last 18 months would be nice to see in the Telegraph.

Accompanied by all the positive overtures they have made whilst availing of the iconic backdrop.

Central could be JW looking into BDD exclaiming "no money tree here "

Everyone knew that with having to employ 1500 staff in advance of the contract commencing would incur massive debt , suprise suprise it has.

Did they think when awarding, that Harl would reach breakeven the next day ?

This is all farcical and should be straightforward.

If JW has screwed UKEF financing because of Scilly then Jettison the ferry. It's hardly complex.

If the debt level is a concern then some explanations need to be given and fast as to how this differed from expectations , inclusive but not limited to how we've been strung along by govt for 18 months , even confirming they'd support 100 % guarenteed loan at Christmas.

Now 80 % , standard , no diff to what any Tom Dick and Harry get scattered in far flung corners of the globe. Perhaps National security doesn't matter or perhaps the duopoly have mates in high places. Personally don't believe it's the Scilly isles involvement causing issues, that is easily resolved.

Make nice coffee though LSE😋

Oh FG the UK government offers assistance all over the place, hospitals in Iraq , Turkish railways and numerous endeavours in Ethiopia , all AAA rated I'm sure. UKEF umm