Member Info for stokey12

I have done a quick skim of the RNS and from what I can see it is not as bad as it could have been. There has been a good handle on costs. The costs of sales is up by only circa £500k but revenues is up 50%. The management and administrative expenses is up significantly. An operational update is needed.

On the new financing it is notable that HARL aparantly managed to pass an audit by Grant Thornton on behalf of UKEF. I also I note the reference to private investors so it looks like the £200m will be from a syndicate of lenders.

Boomtree ref 12.36 post In fact all the shipyards are 'owned' by thier own companies.Iam not sure how many subsidiaries HARL has.

Kaeren ref 11.17 post There are two different rules. Under the AIM rules annualreport and accounts have to be filed within six months of the end of the accounting period which would be today. Under the Companies Act the Accounts have to be filed with Companies House within nine months from the end of the accounting reference date which is the September date.

This from Ben Murray's LinkedIn feed https://www.linkedin.com/feed/update/urn:li:activity:7080267507277668352/?origin=SHARED_BY_YOUR_NETWORK. The text says 'Really good to welcome South Belfast MP, Claire Hanna and MLA Matthew O'Toole to Harland & Wolff to discuss how the Fleet Solid Support (FSS) contract is helping to reindustrialise the site, offering high-quality employment opportunities across Belfast and NI.'

In the annualreport we will have forward looking statements. I am doubtful that the share price will rise much based on these statements. I have two reasons for saying this. Firstly, on previous even where the share price has gone up on forward looking statements it has not held the rise. The second reason is that HARL does not have a good trackrecord of delivering on such statements. The markets are as a result likely not going to accept the statements as statements of what is going to happen.

AmatuerInvestotref 18.53 post We will either get the FY22 results or as with I believe last year an extension will be obtained. I am inclined to the view that we will see the results tomorrow as it would impact on tenders they may have put in.

Kaeren ref 17.10 post something we can agree on. I note that on 1 June 2023 in response to a post from RichardMcV on the Corporate Governance thread I said 'RichardMcV ref 09.32 post I am expecting them on the 30 June.'

SYN00GOLD ref 12.51 post I am not sure you are correct. If I am not mistaken the environment is a devolved matter so anything to do with coal or gas exploration would be for the NI Executive. Also the judge deciding the JR will apply the law and will not take into consideration anything any minister says.

Bubble2021 ref 10.25 post In relation to the new company it is a wholly owned subsidiary of Harland & Wolff Limited so is part of HARL.

Caravan ref 06.55 post I agree that is a possibility. Also it maybe that there is a delay with some of the export related contracts which is causing issues with the Export Credit Facility.

ThisTimeNextYeer Have you heard anything about what is happening at Belfast. Looking at Belfast Harbour website dockings seemabit on the quiet side. I was wondering if the workers have been moved onto the barges to get them done.

Dawski37 ref 15.20 post as far as RFA Argus is concerned I note that when the person who posted wasaskedtoconfirm where he got the paragraph fromhe was unable to. I suspect that it was a false rumour especially as A&P Falmouth holds the current maintenance contract. This rumour showswhy you should not believe everything on the internet.

LSE03 ref 18.48 post True but you have to remember that the model articles of association was used so they were designed for all types of limited companies. In this case any remuneration will be reflected in the group accounts.

LSE03 ref 18.09 HARL's remuneration committee has no say in relation as far as I am aware in relation to the pay of the directors of the new company. The reason for this is they are two separate but linked companies. While HARL may guarantee debts of the new company they are not I believe HARL's debts. I think the reason for the structure that HARL is using is for debt to be raised at the project level without affecting HARL.

It is worth noting that as a limited company the options open to the new company is limited.

Just seen this on the UK Defence Journal twitter feed https://ukdefencejournal.org.uk/not-enough-frigates-says-defence-sub-committee/

Caravan ref 08.07 post I did notice that and it was because of the way one of those people responds to me that I did not answer her question yesterday about the results for FY22. I did not want to be accused of trying to control the narrative.

The official summary of the judgement can be found on this link https://www.judiciary.uk/wp-content/uploads/2023/06/R-Together-Against-Sizewell-C-v-SS-BEIS-summary-220623.pdf

ForrestGump ref 07.44 post I do not believe that is the case. The new company Harland Wolff (Energy)Limited is wholly owned by Harland and Wolff Holdings Limited (HWHL). HWHL is in turn owned by Harland and Wolff Group Holdings PLC (HARL). HWHL is the division that owns the shipyards IslandMagee is owned by IslandMagee Energy Limited. If it was related to IslandMagee then I would expect it to be wholly owned by IslandMagee Energy Limited.

Just before I gointo a day of Teams Meetings just posting this. https://www.linkedin.com/feed/update/urn:li:activity:7076615787699937280/?origin=SHARED_BY_YOUR_NETWORK. There is a nice photo and the text of the post is.

Today, John Wood met with Baroness Vere, Maritime Minister to discuss skills and decarbonisation in maritime, including encouraging girls into maritime and building a cruise centre of excellence in Belfast..

I note what is said about a cruise centre of excellence.

And thisis his Wikipedia page https://en.wikipedia.org/wiki/Anthony_Rimington