Member Info for stokey12

It looks like SAG made some purchases around the 14.45 mark picking up circa 3m shares. RNS in the morning to update on their current holding which should be around the 23% mark now.

Radius ref my 19.05 post that should have read according to the last RNS they have 29.32% of the shares.

Radius ref 19.05 post According to the last post they have 22.9% of the shares.

Just seen this which has just been posted on LinkedIn https://www.linkedin.com/posts/harlandwolff_our-appledore-general-manager-tom-hart-has-activity-6836266198141939712-gTxt. The text of the post is '
Our Appledore General Manager, Tom Hart has spent the last few days in Belfast, where he has been learning about the Harland & Wolff business and how things work in our Belfast yard. Our collaborative teams often share best practice and adopt this across the different yards.' This makes sense as the different yards need to work at maximum efficiency.

Chrisatrdg ref 12.17 post As can be seen by this article https://www.scottishconstructionnow.com/article/deep-water-port-design-contract-awarded-by-stornoway-port-authority The Stornoway Port Authority has impressive plans for the area. Of particular note is the new ring road that is proposed for the Arnish Fabrication Yard.

flotogo ref 11.06 post While not disagreeing with you my point was that the way the BoD is handling this could see them working with a minority shareholder that can cause problems should it to do so by making raising finance difficult.

As things stand SAG only need another 3% and they will be able to prevent any special resolution from passing. This is important as one of the resolutions which are proposed and passed at every AGM to disapply pre emption rights is a special resolution. So if SAG gets another 3% they will not need to takeover TPG as they can hamstring the company by preventing it from passing special resolutions.

oldtramp ref 18.35 post that is why I am only looking for my coat I do not want to be trampled in the rush for the door if/when an offer is made.

fatoomuch ref 17.28 post When you calculate the year on year margin it is even worse the % margin in 2019 was 6.122%. In 2020 the %margin went down to 4.571%. The percentage increase from 2018 to 2019 was less than 1%. I am not out the door yet on this share but I am looking for my coat.

I am trying to decipher this comment on LinkedIn by John Wood https://www.linkedin.com/feed/update/urn:li:activity:6835938885185495040?commentUrn=urn%3Ali%3Acomment%3A%28activity%3A6835938885185495040%2C6835949206625107969%29&replyUrn=urn%3Ali%3Acomment%3A%28activity%3A6835938885185495040%2C6835970337734197248%29. The comment reads 'Good observation Michael and a suitable launch area outside also!' This was in response to a comment from that troublemaker Michael Vidal who had posted the following comment 'That looks like a very large fabrication hall. Almost large enough to build a ship in.'

Jaido ref 16.51 post the only RNS I am expecting tomorrow is a Issue of Equity RNS for the next instalment on the purchase price for Appledore. Wonder if we will get a Prime Ministerial visit this year promising contracts.

jfk9 ref 14.29 post the main problem is that we have poor visibility on what contracts they have and are left with piece together what is going on. We are due a trading update at the end of September I am not sure how informative it will be.

Scrodingerscat ref 14.07 post I have just checked the first RNS from SAG saying they had made an approach was on the 10 August. The RNS giving the Notice of Results was on the 11 August. It would seem to follow that if the BoD wanted to issue the results prior to the deadline for an offer to be made they could have done so.

As far as the holdings RNS is concerned if I recall the takeover rules correctly another 10% and they would be forced to make an offer. If I was the BoD I would start to get worried another 6% and they would have enough shares to block soecial resolutions.

NigelHaemoglobin ref 13.40 post If you Google Fleet Support Ship Contract Notice one of the links is for tenders-uk. They have the link to the full contract notice which is 4 pages long. The dates are in there.

jfk9 ref 13.21 post I will not hesitate to call the BoD out if I feel they deserve it. I agree that they may seem to have made some missteps that have contributed to the current share price. That said it is my view that you are wrong to say that they should never have touched shipbuilding is wrong. If they had done and just waited for the IslandMagee project then a) It would of missed out on a minimum of £30m in income. b) Would have ceased to be a going concern and be liquidated.

As things stand with the BoD's strategy we have the £26m Saipem 1 contract with a good chance of getting the £43m Saipem 2 contract. I would also point out that there are additional items of work that is being worked on. Also more fabrication of wind jacket work that would be of higher value than Saipem contract that INFA will win due to the fabrication footprint it has.

The next instalment on the purchase price is due tomorrow. Part of the instalment is the equivalent of £300K in shares so it looks like around 1.5m shares will be added to the issued share capital tomorrow.

I see that Sir Jeffrey the local MP for H&W (Belfast). Perhaps he could persuade the Cameroon government to buy some ships from H&W.

jellyroll ref 21.31 post As I read it and I will be corrected if I am wrong SAG have not made a formal offer so there is nothing to accept yet. They have indicated what they will offer. If they want too throw in five SAG shares for every TPG share I might listen. This indicative offer would still leave me in the red so sorry need a sweetener.

I am not sure what the BoD is doing there game plan seems to be not too engage so that SAG will not have the information to make a bid before the Interims. SAG have until 7 September to make a formal offer the interims are due on the 14 September. I would not expect another offer from someone after Marine Engineering before the Interims.