Member Info for stokey12

Hebridean9 ref 23.50 post and Iamsailing ref 23.58 post you both seem not to understand the HARL business strategy. To be fair BlairPeach does not either. I agree having had a look at the Cammell Laird's last set of filed accounts that relying on shipbuilding alone might not allow HARL to show a profit. However, the strategy is to do a mix of work shipbuilding , ship repair and Fabrication for the renewables industry. It is this blend of work that will convert the turnover eventually into profits. On the shipbuilding point as will be seen from this page https://en.wikipedia.org/wiki/L%C3%89_George_Bernard_Shaw_(P64) Appledore has a more recent history of building whole ships so within the group as a whole there is recent experience of shipbuilding. Also it is because of this lack of recent shipbuilding experience that the tie up with Navantia is important and should not in my view be overlooked.

Chrisatrdg ref 13.36 post This is a tricky one until this week I would have said that if HARL was to get a tender award in December then the share price may be in the mid thirties or higher. However now I would not expect a favourable uplift if there is a successful tender so I am going to go for a share price of 15 - 17p.

dawski37 ref 10.43 post you suggest contacting the company as none of my last five emails to the company have been either acknowledged or responded to I have absolutely no confidence that any contact would get a response.

dawski37 ref 09.49 post If this was the first where a RNS was issued within a month of a placing that the contents have subsequently questioned then I certainly would not have written in the terms I did in my 05.48 post. We had the Triumph Subsea Services RNS where a LOI was referred to only for it to be subsequently cancelled. If it was only the usual anti JW crowd that was calling for his removal then I would say you may have a point but it is not. Myself and others who are normally supportive are calling for his removal which is indicative of a loss confidence in JW.

In your 09.49 post you state '.The Company is not going to fail and all of us (and that includes most of the II’s ) will soon start to recover losses…losses being the cause of such emotive postings of late .' That is a statement not supported by evidence. As JW only appears to issue a contract RNS when he is preparing a placing I do not see how the share price will move far as the market will always be expecting a placing after a contract RNS. It is worth noting that Seena Shah posted on LinkedIn that HARL will be doing a recruitment roadshow. When asked whether there was anything that could be shred about the contracts mentioned in the post JW responded with a flat No. I would have thought that if there are contracts which require a recruitment roadshow then a RNS would be justified but apparently not. On the basis of all the information I am aware of I do not see how the share price would improve to the extent that losses are recovered while JW is in charge.

Si_Derman ref 20.05 I am willing to be corrected but my understanding is that it is too late to add a vote of no confidence at the 10 December General Meeting as you need to have the resolution in the Notice of Meeting which has already gone out. To get a general meeting would need shareholders who together have 5% of the shares to requisition one.

Having seen the posts with regards to the RNLI RNS and after this week's placing there are two questions that need addressing. The answers are depending on your viewpoint not necessarily the same.

Firstly, the question has to be asked is the current strategy of having two divisions, one IMSL responsible for pursuing the development of the IslandMagee cavern storage project. The other H&W running shipyards that apart from ship repair handles fabrication projects for the renewables sector, still an appropriate strategy. My view is that the answer is yes. After two years the strategy is starting to bear fruit. In addition if you look at the location of the four sites in relation to the location of offshore wind farms they are all well placed to exploit the growing wind energy market. This is also helped by the local content requirements in the various wind farm leases being issued by The Crown Estate and Crown Estate Scotland. It would seem inappropriate to exit this business at this time.

The second question that has to be answered is whether JW remains the best person to lead HARL going forward. My view is no. After the events of this week I do not believe that he retains the respect and confidence of a significant proportion of the private investors. He has made a number of missteps that have significantly undermined shareholder value. I would suspect that a number of private investors including myself are suffering from significant losses. JW seems to be intent on following a policy of only issuing an RNS in order to prepare for a placing. Such a policy is in my view unlikely to cause the share price to rise to anywhere that resembles fair value. In addition there appears to be a lack of attention to administrative matters that could reflect badly on the company. As an example the list of significant shareholders was in breach of the AIM rules not updated for almost a year. While JW is probably not directly responsible for this it indicates a lack of attention to detail.

I think in order to ensure that shareholder value is protected and improved we should explore how we can gather support to block JW's reappointment as a director when it comes up for a vote at the AGM. However, this should only be done in my view if there is a suitable candidate to replace him with a view to a possible move to the main market in 2023.

oldtramp ref 18.26 post I would expect it to be announced in Parliament first then for the select committee to hold an inquiry on it. Do you have a link to the notice about the closed meeting.

Seena Shah has posted this on LinkedIn https://www.linkedin.com/posts/seenashah_harland-wolff-activity-6870016537517023232-KUQ3 The text of the post is

Working in Plymouth or Southampton? Want to work for Harland & Wolff? Pop into our careers' evenings!
Harland & Wolff
Harland & Wolff 18,628 followers 28m • Edited •
28 minutes ago
We are pleased to announce that we are going on a recruitment roadshow! the first ports of call are Plymouth and Southampton.

Find full details here:
https://lnkd.in/gKCK_vVv

Can’t make it? Send your CV and get in touch by emailing recruitment@harland-wolff.com
Interesting that they are going on a recruitment roadshow and the first two stops are Plymouth and Southampton.

Tapp ref 09.33 post HARL appears to have two out three of those.

JW has said that six ships will come through Belfast in December. Due to the number of shareholders who check on vessels going through Belfast this is not something that JW can lie about. This means that in Q4 fifteen vessels would have gone through Belfast which is I believe the most that have gone through in any quarter during the last two years. With the work from the other sites business looks like it is picking up. I am still expecting that the £30m earnings for the 17 months period to December 2021 will be met.

The only negative is the share price which remains lower than it should be. JW is largely responsible for this. When HARL issues an RNS for a contract win it is light on information to show how much will be made from it so there is only a small uptick in the share price. This is compounded by the gaps between contract RNSs causing the share price to drift down. So what action is needed to get the share price moving? Firstly, I would argue that more financial information should be given. As an example with the RNLI RNS it would have been helpful to have said how many years the framework agreement was for not just said a number of years. I only recall a value was given on two contract RNSs on both occasions within a month a placing was announced. Secondly, we need contract RNSs other than as a prelude to a placing as otherwise the market would hold the share price back as it will expect a placing.

roly12 ref 11.27 post I would advise against holding your breath for a reply to any letter the only emails that I get a response seem to be around events anything else is ignored. As far as the presentation is concerned I believe that it was the May 12 presentation.

Is anyone planning a meet up after the 10 December General Meeting?

oldtramp ref 18.03 post noted I will take your advice. Looks like the Scillonian i not imminent if they are talking about business cases.

oldtramp at the general meeting on the 10 December I am considering whether to do something similar to what I did at TPG. Do you think that would be justified?

CharlieSays ref 19.21 post when I say call against it is that the framework agreement gives the principal terms of a contract like the type of work to be done. Then when work is needed under the framework agreement an agreement for the work that is needed is entered into. It is this agreement to do the work that I was referring to as you make a call against the framework agreement to do the work under it.

What I found most interesting about the Cenkos note was not what was in it but what was not in it. There was no mention of the RNLI Framework Agreement. I am assuming that there will be a call against it. Also the recent fabrication contract to fabricate the pontoon which will run into next year. I am therefore not sure if the financials in the report are accurate.

Chrisatrdg ref 12.44 post I thought that I had posted a comment but it seems to have disappeared. I wonder if it not agreeing with the narrative has anything to do with it.

I see from the Belfast Harbour website that the Seatruck Power is due to arrive in BDD at 18.15 on 25 November and is scheduled to leave 00.00 30 November. Which would mean that there will be three vessels in BDD and one in SRQ.

Pokerchips ref 15.5o post Unfortunately it was made at an online investors event and I suspect it was the one that was not uploaded to the website due to a technical problem so it is down to people's memories.

Just seen this on YouTube https://www.youtube.com/watch?v=nNp21zTeCDc