RE: Telegraph Article 05/06/246 Jun 2024 03:25
I read that totally differently Broomtree. JW is beyond frustrated about the length of time it is taking and the incessant BS in the papers. He may have been told that the Telegraph were going to write an article again and he could contribute or they'd fly solo anyway. Who knows.
Whilst this drags on , he has a business to run , deals to close ( Falklands for example)
Just reiterating as he said a year ago, other options. He can't discuss the exact state of play of the UKEF deal and the Telegraph article didn't make sense.
"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 risked falling foul of state aid rules. " Well are they ongoing or have they stalled , two very different statements in the same paragraph. I would suggest that the Telegraph don't know the state of play......
" Despite this , MR Wood said he expected a decision imminently and suggested alternative options were being considered to get the deal over the line, such as a guarentee covering 80 % of the loans value.
Well that's no different to any other UKEF guarentee , so I can't envisage an issue with that as the gov were prepared to offer 100 % initially.
No doubt extra work , negotiations , as that would mean Harl would have to source the other 20% .. 40 million.
Again the Telegraph err as they talk of a 200m loan and JW says 80% on the table , do the Telegraph not comprehend that an 80 % guarantee means 160mm guaranteed. Its all a load of cobbled together nonsense again.
Quite frankly why the interviews were given is beyond my comprehension, unless JW wanted to inform about the current change in negotiations 100 % to 80 and reiterate Scottish yards not at risk. Another day , another dollar !
https://www.telegraph.co.uk/business/2024/06/05/wont-let-titanic-shipyard-sink-vows-harland-wolff-chief/