Member Info for stokey12

ThisTimeNextYeer In relation to your 17.25 post why do they need a third crane I did not think there was the work to justify it.

Just seen this on Twitter seems like Appledore might get some work soon hopefully. BJ will need to deliver on his promises soon so a condition of a loan to use Appledore will make everyone happy even the unions. https://twitter.com/MattRobertsGMB/status/1400444661039349760. Has H&W done work for the Isle of Scilly before?

ThisTimeNextYeer In relation to your 15.46 post in the RNS of 11 May it says ' is pleased to announce that it has won a contract award from a globally recognised ferry company for the repairs of two of its ferries at Harland & Wolff (Belfast).

The two-vessel deal is valued at approximately £1.60 million and the completion of the repair works on both vessels is expected by mid-June 2021. The works are being carried out at the Group's repair dock at its Harland & Wolff (Belfast) site. '

It was an assumption by the people on this board that it was the two European Ships. This was due to the short completion times. I am not sure of anywhere online where it says when the certification surveys were last done.

The Dublin Swift is scheduled to arrive tomorrow and leave on the 10 June. This raises two questions is Irish Ferries the company with whom INFA has the £1.6m two ship contract? The second question is will Irish Ferries booking in further ships for their annual classification surveys?

ThisTimeNextYeer In relation to your 16.03 post If you look at my post under Dublin Swift from yesterday you will see the Dublin Swift was always due into the Building Dock. I am not sure what is happening with the Stena Europe as it has had its departure date changed a couple of times and has been in for emergency repairs fora couple of weeks.

Si_Derman In relation to your 15.38 post he has form for making offensive posts. On two occasions he had a shot at me for my tendency to start posts in relation to. He did apologise afterwards I think because other posters had a go at him.

ThisTimeNextYeer In relation to your 12.32 post I am inclined to the view that the slide that showed business opportunities over the next 18 months is one of the slides they did not want to put in the public domain. Also they were a bit more forthcoming in answering questions submitted in advance than was possibly wise.

Saw this on the H&W LinkedIn feed https://www.linkedin.com/feed/update/urn:li:activity:6805781756533448704/ Careers day at Methil.

Si_Derman In relation to your 18.43 post You are right about Tilly's point but you have to remember that JW has a personal connection with H&W so is unlikely to accept a takeover offer at anything less than what he determines is fair value even if he was offered a place on the board.

According to the Belfast Harbour website The Irish Ferries owned Dublin Swift is scheduled into the Building Dock on the 5 June. I will update when I have more info on length of visit which will not be before 5 June.

Nobby31 In relation to your 10.54 a lowball takeover of 20p a share would be a significant undervalue. The current MCap is £35m. In the half year report for the period ending January 31 the net assets was circa £20m. The following post ending events need to be added to this figure the placing raised £10.3m The Open Offer raised £1.77m plus the current order book is circa £26m. So assets totalling circa £38m need to be added to the net assets so on the basis of assets a realistic valuation would be circa £58m on the basis of assets only. On this basis I do not see a hostile takeover succeeding at less than 50p a share. This is way below what I would consider a fair price.

BlairPeach In relation to your 13.09 post I am not sure what Pokerchips reasoning was for his 10.37 post. I would, however, point you to my post of 11.04 which points to some differences between the situation that Sirius was in and the current position of INFA. Also I observe that the last two placings raised over £9m which would seem to show that the market is happy to back the BoD. There is at present no indication that INFA would be unable to raise necessary finance.

Just read this article https://www.bbc.co.uk/news/uk-northern-ireland-57314045 with Mr Poots looking to shape his Ministerial Team this week. As well as agreement on the posts of First Minister and Deputy First Minister to be reached I do not see anyone rushing to make a decision on the ML soon.

Tilly2015 In relation to your 10.05 I was invested in Sirius but sold out when they had problems with the stage 2 finance. Personally I think the BoD made the raising of the finance more complicated than it needed to be. They probably could have raised a fair chunk of the finance needed by issuing shares as part of the move to the main market. The other issue Sirius had which does not apply here is that Sirius did not have any income.

With INFA they should have sufficient funds to keep them solvent until more substantial contracts come in. Monthly payments on the Saipem contract start from August these payments plus the ship repair contract work should cover the overheads.

Looking at the FSS Competition and the new British Flagship announcement it would seem that HMG are expecting each ship to take three years to build. My question is three years to build a ship normal?

Si_Derman In relation to your 15.09 post Stena Europe is scheduled to depart on the 3 June. However, this can change and is based on the current information on the Belfast Harbour website.

Chrisatrdg In relation to your 14.39 post Belfast Harbour webpage is showing European Causeway as having left port. This is confirmed by vesselfinder which is showing it as underway.

oldtramp In relation to your 14.33 post I did notice that a lot of the people commenting where offering their services.

Chitta123 In relation to your 15.55 post if there is news this week I do not believe that it will be connected with Islandmagee as Mr Poots seems to have other things on his mind. However one of the faint slides during the presentation if I recall showed possible contracts over the next 18 months so I would expect news in that area.

Si_Derman In relation to your 13.01 post I think the question is how essential to the long term future of INFA is Islandmagee. This is something that there is a difference of opinion on this board. In the last week we have had news of potential tenders that INFA might participate in with a value of circa £1.8bn. Allowing for shares to other bid parties this might bring in revenues of circa £700m. In addition the the Scotwind auction of leases for wind farms by the Crown Estate Scotland together with the previous leases by the Crown Estate means that there is going to be a long term need for the fabricating of wind jackets for off shore wind farms. In relation to both Scotwind and the Crown Estate leases there are minimum local content requirements. It is to be noted that the refreshed National Shipbuilding Strategy is due later this summer which will tell us the sovereign vessel requirement for the next 30 years.

So there is a lot of work in the sectors being targetted that I am not sure that Islandmagee remains essential for the future of INFA especially as the fabricating work might actually bring in as much income as the caverns would have.