Member Info for Si_Derman

I know it's akin to turkeys writing about Christmas, so have to expect the anti-British rhetoric. But did you also read the previous article, Stokey?

https://agendamalvinas.com.ar/noticia/tierra-del-fuego-intimo-al-astillero-harland-and-wolff-por-la-construccion-de-un-puerto-en-malvinas

Wouldn't be surprised if it wasn't an AI generated report, Stokey. Lacks any detail of the company and what's going on with it. It's just comparing stats with industry norms. Sure you could do the same with any company. Just replace the cut and paste name and grab the data relating to whatever indicator you choose. IMO

I note from reading the comments it says that they were done In Blackburn. Thought the guy in the Vila Vie video said they were being done in Norway. Unless the stock shafts were from Norway and the machining was done in Lancashire.

Helluva big though, Impressive.

Okay, thanks. Don't know why, but I was expecting to arrive by sea from Norway. Not by road. Thanks for posting.

Do you mean the Odessey?

"remuneration packages" reminds me. Wonder what the chances of acheiving this years Long Term Incentive Plan (LTIP).

Remember that old thing? Back in the day it was very often used as a "nailed on" priced target to bash the unbelievers with. Well, we only need an increase of 436% before the first week of October. Easy, eh? Oh, and then keep the vwap above 46.88 pence per share until the end of the year. But wait, what's this in the RNS...

"The formal grant of options pursuant to the LTIP is expected to take place over the coming weeks and a further announcement will be made in due course once documentation has been finalised."

Hmmm, phrases such as, "coming weeks , further announcement and due course", or similar, come up so often in RNS's that I'm begining to think they must use some sort of standard template. Change the heading, fill in a few blanks to cover the subject matter and pop the date on it. Sorted. Although, I think I might send them some post-it notes as they keep forgetting to do the subsequent updates. Tsk tsk. :)

And the targets are :-

o 2023: 37.50 pence per share. Not quite. Try again.

o 2024: 46.88 pence per share. Getting there?

o 2025: 58.60 pence per share. Nailed on.

I liked the message at the end from Malcolm Groat, then Non-Executive Chairman.

"We are making solid progress with all aspects of preparing the Company for the voyage ahead. The Executives have worked tirelessly since 2018, when they first joined the Board, and have transformed the Company and its prospects. It is Remco's desire to retain the Executives during the next, demanding phase of growth, leading the Company on to become an exemplary success story. The LTIP is designed to incentivise delivery of outstanding results for all stakeholders and to build, in particular, a firm alignment of interest with shareholders. ."

Well, the results are certainly outstanding. Just the wrong sort of outstanding.

But are you all feeling aligned with? ;)

Although, bailout is not a word used anywhere that I could see in the UKEF's 2024-29 Business Plan. It mentions helping UK companies "win over £12.5 billion in new contracts by 2029, as well as unlocking £5 billion of investment into their UK operations. " But no bailouts. Funny that., eh?

https://www.gov.uk/government/news/ukef-unveils-plans-to-help-exporters-win-125-billion-in-new-business-by-2029

Forgot about the three week rule. Thanks Stokey.

You don't think results Monday, AGM at the end of the month then? :)

Last year the AGM was on the 25th July followed by London South East April IR Webinar at 6pm.

All the usual suspects were there with a couple of exceptions. ;) One was Stokey. JW noted his absence but he did put questions to JW later at the webinar.

Nice bit of news for the Belfast neighbours and good for them as they have been inovating hard on this tech.

"Able to reach top speeds of 36 knots with a foiling range of up to 70 nautical miles, the design could reduce fuel consumption by up to 85% compared to conventional high-speed ferries powered by conventional fuels."

Recall this vessel being mentioned during the PM's vist a while back. So, I wonder who else is adopting them?

"Red Funnel is joining two other ferry operators adopting the technology to decarbonise their operations."

Interesting. Maybe wasn't quite ready and was rushed to get it into service just to out do the SCC when it was announced at the scrutiny committee meeting. Assumed it would of had a thorough overhaul beforehand at Appledore. Wonder how long before the current Naomi Jennifer is ready to act as a replacement? So, no sign of the Valonia doing island runs either and the Terramare up in Newport, no freight service at all? No wonder there has not been so much posting by Julian.

The SSC's Gugh seemed to be going back and forth between the various Islands yesterday. Could it being used as a local delivery vessel for freight off of the two other larger vessels?

Something to watch while we are in suspenders, hey. ;)

Think they have been told to turn their trackers off so we can't see what they are doing. Or not doing. :)

The only one showing up is the Terramare and that is definitely still over in Newport doing civil engineering job. The Valonia was last showing in dock at Penznace. a month ago. I saw the Puffin out of the water and on the Pantent Slip in Appledore a week or so ago, But that has since left but gone off the radar. Same with the Samson (Jenna) that was also in Penzance 10 days ago. The latest, as yet re-named, so still the Namoi Jennifer was having is new livery done at Appledore last week.

Have I missed any? :)

Well it must be taking the scenic route as it up around The Rumps off Pentire Head atm. Marine traffic still saying Pad/Pad.

Is there maybe some mix up somewhere here with the names? The original RIB that was used by H&W was called "Offshore" Endeavour and not "Coastal" Endeavour. Didn't they then change it to The Atlantic Express or something?

BT, you sure it's heading to Penznace? Seems to be heading North and says Padstow to Padstow on the descriscription. Looking at the past track from yesterday on Marine Traffic it seems to have gone back to trolling around the coast from down around Padstow lifeboat station up to Port Isaac and back. Is doing coastal trips around the bay another new endeavour from JW, or has it gone back to it's previous owners?

This whole sorry episode smacks of JW just "showing off" because he didn't get his way. Because the big boys wouldn't play nice and give him the loan guarantee he's effectively threatening to take his ball home so they can't finish the game.

It's basic brinkmanship. Seeking advantage by creating a disasterous situation. But he's playing with other peoples lives and their money. Isn't this how we ended up with an "almost" ferry business? Because someone told him that he didn't win the build contract. Obviously he will deny that is the reason and that it was part of the plan all along. Yeah, okay. :)

BTW, niether do I subscribe. I just searched "telegraph" and looked in the business section. :)

Absolutely nothing new in the article, Stokey. Just the same old news and extracts from the recent RNS.

https://www.telegraph.co.uk/business/2024/07/01/titanic-shipbuilder-suspends-shares-amid-row-with-auditors/

Hmm, considering two of the companies he is chairman of have both been suspended in as many days speaks for itself, imo.

"Notwithstanding the anticipated temporary suspension of trading in the Company's ordinary shares, the Company will continue to make announcements as and when there are any developments that require announcement in accordance with its obligations under the AIM Rules."

This paragraph was taken from another company also suspended today. So seems to be standard copy for the situation and would suggest that there is no hidden meaning.

"Boeing agrees to buy Spirit Aerosystems in $4.7bn deal"

https://www.belfasttelegraph.co.uk/business/northern-ireland/boeing-agrees-to-buy-spirit-aerosystems-in-47bn-deal/a1069727406.html

I'll be in the shed, making torches and sharpening the pitchfork. :)