Member Info for stokey12

Citizenlane ref 10.57 post I am not saying you are wrong but can you explain how you come to that valuation. With FSS worth £750m based on the mid point of the range of the contract value that gives a valuation of a third of the FSS contract value. It also does not seem to allow for any other work that HARL may have.

In the 9th November RNS with regards to the Astra Debt Facility it stated 'The new credit facility will be for a period of two years with three annual extension options. As such, when financial close is reached, it is expected that this new facility will be on better economic terms than the existing debt facility but contingent on any further movements of the Bank of England's Base Rate and other market movements prior to financial close.'

If the current deal being negotiated is baased on this then it looks like it is an index linked loan with the potential to reduce finance costs by circa £20m.

After the news on inflation which hopefully will see finance costs for HARL go down. I cannot recall whether the current financing was index linked if it was the drop in costs will be significant. Also I saw this in my morning email https://www.lexology.com/library/detail.aspx?g=dbf7e5bc-758b-47b9-93f7-7ee81889e144&utm_source=Lexology+Daily+Newsfeed&utm_medium=HTML+email&utm_campaign=Lexology+subscriber+daily+feed&utm_content=Lexology+Daily+Newsfeed+2023-11-15&utm_term=

The effect of this is that any projects that were stalled because of a lack of a grid connections can possibly now go forward. Also sites from more recent leasing rounds for onshore and offshore windfarm might see the time to get operatonal cut as the wait for grid connections are shorten. This might bring fabrication work for HARL forward to meet new go live dates for windfarms.

The aggregates carrier AASLI is due into the ships repair quay tommorrow until next week Monday. She is coming from Kilroot. I do not recall such a vessel arriving at Belfast before.

LSE03 ref 14.12 post thanks for this I note that Jim Shannon did not ask for a meeting in his question so it is interesting that he was offered one.

Consuela ref 13.27 post Of course if available HARL should takeadvantage of any loans available. My point is that BAB and BAe would rather the British taxpayer funds their Capex rather than use their own money. I am not sure how much the total Capex is for FSS but I am sure it is more than £77m.

On the question of pipeline I note that the known pipeline for HARL is in excess of £800m not including any contracts which have not been mentioned. Having looked at BAB, BAe and HARL I can detect no difference to the way they work the only difference I can detect is that HARL is not dependent on work from the MoD as BB or BAe are. I would also point out that both BAB and BAe currently have the benefit of a contract that gives them guaranteed work every year. This means that they do not have to competively tender for most of their MoD work which HARL des.

Thomas Rooney posted this on LinkedIn

Thomas RooneyThomas Rooney • 3rd+ • 3rd+ Senior Business Development Manager (Defence & Government) at Harland & WolffSenior Business Development Manager (Defence & Government) at Harland & Wolff 3h •

3h •

A couple of weeks ago we were very pleased to host a delegation of 50 defence attachés to Harland & Wolff Belfast. The visit included a tour of the ship yard where they saw Cory Barges being built, apprentices in training and the preparations underway for FSS due to start cutting steel next year. Of course, no trip to Belfast is complete without a picture with one of the iconic cranes! hashtag#defence hashtag#shipbuilding hashtag#belfast

Interesting grup to have visit hopefully something comes from it.

Consuela ref 08.39 post If BAB and BAe are so good can you explain why they do not invest in their facilities but rely on the UK Goverment to fund improvements. As a diligent investor I am sure you are aware that the new hall that is being built was only built after the MoD added an extra frigate so that the profit can fund the investment.

LSE03 ref 07.48 post Thanks for the link an interesting piece wonder whether anyone listened.

Not questions I ould normally look at but this one caught my eye.

Alexander Stafford (Rother Valley)

What steps his Department is taking to help mitigate the potential impact of

environmental, social and governance practices of financial institutions on levels of

investment in the defence sector. (900042)

It is number 8 on th list so should be reached. As per normal I have no idea what prompted the question but the answer and supplementaries may be interesting.

Chrisatrdg ref 14.20 post In response to a post by porthy I discounted a review as the rules do not require permission. I can ponly presume that the review is in order to determine when the appeal should be listed. Do you have details on if e can listen to the hearing and if so how.

Porthy ref 13.18 post I discounted that as the relevant court rules do not require permission to be obtained which is what would be the position in the situation you suggest.

Kaeren ref 12.34 post you are right in that my original post was for interest for those who are interested in what is going on generally in the shipbuilding sector.

Just saw this article on LinkedIn https://www.linkedin.com/feed/update/urn:li:activity:7129790124015398912/?origin=SHARED_BY_YOUR_PAGES the text of the post is

Recently Helsinki Shipyard was acquired by the Canadian shipyard group Davie. Now the Turkish Tersan Shipyard bought the Norwegian shipyard Havyard Leirvik AS Leirvik.

The transaction is based on a share sale, where Eqva ASA is selling its shares (100%) in Havyard Leirvik Holding AS, where the subsidiaries Havyard Leirvik AS and Havyard Leirvik Eiendom AS are included. The transaction is settled by NOK 30 million in cash.

https://lnkd.in/eUnfrrzj

I wonder is this the first sign of possible long term consolidation?

ForrestGump ref 11.37 post I would argue against such a move as there are cases where NGOs are the only people who can challenge government action. In any event NGC are not a NGO and it is arguable that FOE(NI) either see this article https://en.wikipedia.org/wiki/Non-governmental_organization so they may not be covered.

On your point about the Human Rights Act this is not the place for an argument on the Human Rights Act.

Xenor ref 11.01 post we do not know that for certain it is one of two possibilities as to what the hearing could be about. As to the suggestion of suing for lost opportuinty costs. I have more chance of winning the lottery without buying a ticket than such a claim succeeding in my opinion. It is too remote as far as I can see.

Having reflected on this my view is that there are two possibilities as to what the application could be Firstly it could be an application for a protected costs order. This would be so that No Gas Caverns are protected from an adverse costs order if they were to lose. I am not sure if there was onein place for the High Court poceedings. The second option is that the Crown Solicitors Office wants security for costs so that they can get their costs if the ppeal is dismissed. With the security for costs if it is granted and No Gas Caverns cannot provide security then the appeal could be dismissed.

Apologies for the hair splitting but I believe it is a hearing in relation to the appeal rather than the hearing of the appeal. As far as I know it is still on but I have not checked with the Court.

The following article covers changes to TUPE, Woring Time Regulations and Calculating Pay for Annual Leave. As these changes come in from January 1 2024 and is likely to affect some people on this Board I am posting it. https://www.lexology.com/library/detail.aspx?g=f63cd13f-b5c4-4c6d-bad2-8aa43c886831&utm_source=Lexology+Daily+Newsfeed&utm_medium=HTML+email+-+Body+-+General+section&utm_campaign=Lexology+subscriber+daily+feed&utm_content=Lexology+Daily+Newsfeed+2023-11-13&utm_term=

Despite the headline the article relates to the apprentices rather work at HW Arnish. https://www.obantimes.co.uk/2023/11/11/a-bright-future-ahead-for-apprentices-in-arnish/#null