Member Info for stokey12

I note that while the Placing was oversubscribed the PrimaryBid offer was not it only raised 0.9m. This would seem to imply that for the second time private investors have sat out in an equity raise. HARL needs to consider why this is happening.

CharlieSays ref 08.47 post I would refer you to his comment in the RNS 'Given the progress that Harland & Wolff has made, the Company is now in a position to have access to debt and has received term sheets for facilities in the range of £30 million to £75 million, which are currently under negotiation. Whilst the level of coupon expected would initially be in the mid-teens, the coupon would be expected to reduce by approximately half as the Company becomes cashflow positive, which the directors expect to occur in the first quarter of 2022. The Company will continue to negotiate for more favourable terms and it is pleasing to note that these facilities could be entered into at short notice. ' So if as it says there are term sheets on the table why not conclude those negotiations rather than inflict more pain on shareholders.

I wonder if any dissent will be permitted to be voiced at the general meeting on the 10 December to authorise the issue of shares above that already permitted. I am currently minded to abstain. My main issue, apart from having said there will be no more cash raises for 12 months then to have one, is if they have a team sheet for a revolving credit facility why not conclude the agreement for the credit facility and use that rather than another cash raise. I appreciate that a cash raise is cheaper but that needs to be balanced against the need to preserve shareholder value.

Wiseinvestor23 ref 21.03 post HARL's BoD has a credibility problem which you need to acknowledge. At the last online investors event we were told that there would be no more equity fundraises for 12 months. That was less than 12 months ago so to be faced with another fundraise the second, or third depending how you count them, this year raises questions as to how much confidence can be placed on any financial forecasts from the BoD.

You reference the 37 tenders (15 MoD and 22 Commercial) referred to in the interims. Based on HARL winning a third of those tenders that means they will only win around 12 of those tenders. I also note that in the RNS it says ' The Company operates in a multi-billion pound market and management have identified total revenue opportunities over the next five years of up to £1.49 billion. When applying the Company's recent win ratio, together with the invitations to tender already received, management believes that approximately £800 million of contracts could be secured by 2026** and the Company is targeting annual turnover of £250m turnover within five years. ' This reflects a reduction in the value of the pipeline from previous estimates which in itself raises questions about how realistic previous estimates were.

My concern is if HARL wins either of the two tenders being awarded next month that I know about will this lead to another fundraise.

Jabido ref 19.44 post I have received an email from the Isle of Scilly Council no decision has been made and there is no indication of when a decision when one will be made pn the Scillonian IV. As far as the decision on the National Flagship is concerned that is expected next month.

I will not be participating for two reasons firstly I do not have the spare cash at present. Secondly and more importantly I have questions over the competence of JW and AR at a previous online investor event it was stated that there would not be another fundraise for 12 months. We are still within that 12 months period and we have another fundraise. I therefore have no confidence however many contract wins there are that this will not be the last fundraise regardless what we are told.

oldtramp ref 17.17 post I recall at the time of the Dorset Spirit's visit the original heads up came from a comment on a LinkedIn post on day 2 of DESI2021 from I think it was Mark Lowther. The post was from someone at Lloyds Register who appeared to be an acquaintance of Mark. If that is correct then if things go south HARL might see more ships coming from Canada.

oldtramp ref 16.58 post the old saying it is an ill wind that blows no good comes to mind. If Navantia wants to save business it may have no alternative but to send business to Belfast unless it has other ports that it owns that can be used.

olrtramp ref 16.28 post I have just checked and the Belfast Harbour website is still showing no ships scheduled to dock after the W.B. Yeats leaves port at 2pm on Wednesday. That said last week we had intra day changes to the docking schedule so at present I am not unduly worried as HARL appears to be ahead of schedule on the number of dockings expected in the quarter.

Tapp ref 15.41 post I do not take the HARL board's word at face value. As you will see from my 12.26 post I have demonstrated why I believe that breakeven is a distinct possibility. I note you did not dispute what I stated. HARL's earnings appear to have been backended so looking at the income from the interims would not tell you everything you need to look at what happened since.

I am not sure if anyone near IslandMagee has better information but when I went to look at https://twitter.com/sinfrastrata I got an interesting response seems the twitter page may have been removed. That begs the question is the campaign still ongoing. I note that in the last month the justgiving page see link here https://www.justgiving.com/crowdfunding/nogascaverns has raised £8,204 that might cover their initial costs but it is unlikely to cover DAERA or HARL's costs when they lose.

Tapp ref 12.11 post while I agree that breakeven by end of December 2021 is speculation it is looking more than likely as we approach December. The last set of results showed revenues of £10.8m and a total loss of around circa £16m. Known revenues for the period includes Saipem 1 revenues of circa £15m plus various other contracts so if we add the results in the interim results and the Saipem 1 contract revenues we get to circa £26m. So that would probably cover expenses for the period August - December 2021.

I wonder if there was an connection between BJ's rambling speech to the CBI and the jump in the share price.

Speedy_Gonzalez ref 21.59 post I do not read the advert as solely referring to the tie up with Navantia. I read it as HARL looking at tie ups with possibly other partners who might have other even better processes than Navantia.

oldtramp ref 16.10 post while none from BEIS or HMG are currently down to speak I note that on Monday afternoon the Leader of the Opposition is due to speak. Also speaking is the Welsh Health Minister. This late in the day the absence of a government speaker is unusual.

ivans ref 12.30 post A navy contract could come any time. I do not think that it is essential to HARL's success anymore. My projections for next year sees HARL slipping into profit but does not have any defence contracts factored in.

BlairPeach's question about the 2021 instalment on the purchase price for Appledore and looking up the reply made me think. As part of the agreement to defer payment to later in the year did HARL agree to make an all cash payment instead of the part cash part share payment under the original agreement. We will know by year end as an issue of equity RNS would need to be issued.

Wiseinvestor23 ref 07.09 post thanks for those who do not have linkedin the post which is from JW reads
'I think H&W have broken another record, the first time in the last 82 years that 9 ships have been in our yards. What a team effort, given records are sketchy we might have missed an event - onwards and upwards!'
The nine ship count includes Appledore not sure of the ship count for Appledore as I am not sure if Relentless is still there.

According to the Belfast Harbour website www.belfast-harbour.co.uk as at 06.30 on 20 November 2021 the following vessels will either be in or due to arrive at H&W Belfast

BBD

Polar Onyx Scheduled to depart 16.00 23/11/2021

BDD

Aisling Gabrielle Scheduled to depart 14.30 23/11/2021
W.B.Yeats Scheduled to depart 14.00 24/11/2021

OQ

KMS KARELLE Scheduled to depart 20.00 20/11/2021
KOCIEWIE Scheduled to depart 12.00 22/11/2021

SRQ

Keewhit Scheduled to arrive 18.20 20/11/2021
Keewhit Scheduled to depart 08.00 22/11/2021
Blue Star 1 Scheduled to depart 12.00 23/11/2021
Stella Foreteller Scheduled to shift to VT2 09.00 22/11/2021

Notes
The Keewhit is an Oil Products Tanker so it is not sure if she is delivering supplies or having work done on her.
The Stena Foreteller is scheduled to shift around from VT2 to SRQ at 17.00 20/11/2021.
This information can change and is as I took from the Belfast website.

Does anyone know what the capacity of the Belfast facility is? This weekend there will at one point be seven vessels in but BBD will only have one vessel in it.