Member Info for LSE03

Https://www.petroc.ac.uk/events/marine-futures/

Https://www.northdevongazette.co.uk/news/home/1233384/marine-futures-promise-new-opportunities-for-our-next-generation.html

Https://www.northdevongazette.co.uk/news/home/1234215/north-devon-our-marine-future-looks-bright-tim-jones.html

Https://www.offshore-energy.biz/dutch-national-hydrogen-network-project-gains-ground/

"The national hydrogen network, which is estimated to cost around €1.5 billion, will connect major industrial regions in the Netherlands and surrounding countries, such as Germany and Belgium, from 2030 onwards.

In addition, the network will have connections to import terminals at seaports, domestic hydrogen production and large-scale hydrogen storage facilities.

According to Gasunie, the network will eventually be 1,200 kilometers long and largely consist of existing natural gas pipelines. Rotterdam will act as a gateway for hydrogen to northwest Europe."

Feels like H&W could be a player in delivering similar for NI and wider.

Https://asia.nikkei.com/Politics/International-relations/Indo-Pacific/U.S.-turns-to-private-Japan-shipyards-for-faster-warship-repairs

Also turning to Japan

Https://www.realcleardefense.com/2023/06/27/us_navy_finalizes_ship_repair_agreement_with_indian_shipyard_943312.html

Maybe there is the potential for UK to strike a similiar agreement that could benefit H&W.

No need to apologise at all :)

Https://www.naval-technology.com/news/cost-royal-navy-frigate-iron-duke-refit-revealed/

Https://www.smart-energy.com/renewable-energy/portugals-ren-readies-network-for-10-hydrogen-this-year/

Https://splash247.com/hydrogen-plant-on-the-cards-for-europes-largest-inland-port/

Presumably Belfast could do this too

Https://www.woodplc.com/news/latest-press-releases/2023/wood-and-centrica-storage-explore-low-carbon-hydrogen-production-hub

The cynic in me says that Hebridean9 has said that in a past life they have worked for Storengy and so has the potential to have a very good understanding of what it takes to develop and commercialise the operation of a storage facility and so the potential value of IM.

Storengy's core business is storage site development of caverns for gas and hydrogen storage operation in energy markets. https://www.storengy.com/en

I take comfort that Storengy UK remain as a key player in the UK energy market and indeed could be a well placed party to support the development of IM.

https://www.storengy.com/en

Makes sense Stokey, that's what I've assumed is happening.

I'm impressed by the high quality of recruits into senior positions in the business which is already and will provide a wider voice out there on H&W capabilities and how they are developing. It would be interesting to understand how the capex spend for site development is progressing and if it can be sensibly fast tracked. Developments in Russia look volatile so should further focus minds on energy security and defence capabilities. Seems like UK needs to have a bit more urgency to step change things to move forward.

Thanks Stokey, it's good to hear that these are boilerplate.

Thanks Stokey, still seems very generous wording to me which seems to say I can get paid whatever I like through this company?.

Clause 19.2 says

" Directors are entitled to such remuneration as the directors determine:

a) for their services to the company as directors; and

b) for any other service which they undertake for the company."

and Clause 19.5 says

"Unless the directors decide otherwise directors are not accountable to the company for any remuneration which they receive as directors or other officers or employees of the company's subsidiaries or of any other body corporate in which the company is interested."

I'm trying to be clear / comfortable what the checks / balances are here with remuneration committee, governance controls to link a Directors remuneration to performance. It just seems quite generous but appreciate I may not be seeing the whole picture.

These clauses seem very open ended to me.

Well I'm still struggling to get comfortable with the Articles of Association in the new company which under Director Remuneration seems to say Directors can pay themselves what they decide for remuneration. If that is the case (hope not) it could be unfairly exploited.

Https://www.bbc.com/news/uk-england-suffolk-65985711