Harland & Wolff Share Discussion Threads

[iceagefarmer] 16/9/2024 13:39

wheres john wood now?? epstein island?

[blackhorse23] 16/9/2024 12:15

Fraud & scandal

[blackhorse23] 16/9/2024 12:15

HarlandWolffplc has confirmed that it is insolvent & will enter administration this week. Once formal administration procedures are finalized, #HARL's suspended shares will be delisted from AIM, existing shareholders will likely lose their investments

[williamcooper104] 16/9/2024 11:36

The balance sheet was a horror show Only argument for being long was on expectation that the Gov would bail it out But that was based on not realising that the gov can bail out/support the underlying business without bailing out the overlevaged balance sheet So the chances of a public sector put option on the equity was always low; certainly a lot lower than the probability of it going into Admin

[iceagefarmer] 16/9/2024 11:25

john wood has alot to answer for..misled investors

[jaknife] 16/9/2024 10:40

Dear Longs,

There's a new update from HARL just released:



The key point for shareholders is:

"The Board has concluded that the Company is insolvent on a balance sheet basis per its last audited accounts and most recent management accounts.

Accordingly, contingency planning for the making of an administration order and appointment of administrators from Teneo is underway for the Company. This process will likely commence this week.

Should administrators be formally appointed then the Company's shares would not resume trading on AIM, the 2023 accounts would not be finalised and admission of the Company's shares to trading on AIM would be cancelled in due course.

In these circumstances, the Board expects there will be no return likely for shareholders having reviewed strategic options from the Rothschild & Co process."


Many longs have been extremely critical of the comments that I've posted here in the last year. My first post was on 25 June last year and started off

"HARL is technically insolvent. Friday's trading update notes ..."

see:

I would encourage longs to go back and think about their investment journey with HARL to see if you can learn anything. If it was obvious to me over a year ago that HARL was heading to zero then why wasn't it obvious to you?

JakNife

[neo26] 16/9/2024 10:31

Shafted shareholders..

[iceagefarmer] 16/9/2024 10:24

deathly quiet on here

[iceagefarmer] 16/9/2024 10:24

its all over then...administrators appointed..bet bionicdog lost a packet on this

[owenski] 16/9/2024 08:22

I posted this over 2 months ago, it's almost a given that Navantia will build these ships.

"owenski 15 Jul '24 - 20:49 - 5235 of 5380 Edit
0 2 1
They don't need HW to deliver the Navy contract, the Spanish contractor can do it without them. It was always a foolish move to award elements to a company that's already been bankrupt and with no guarantee that the new iteration would be any better."

[dudishes] 15/9/2024 12:46

Good call JakNife,

I do not miss the failed car salesman, SEAGREEN!

[norfolkngood1] 15/9/2024 11:44

There's no takeover in the normal sense. This is a fire sale with different buyers picking over the bones. There won't be enough raised to cover all owed to the banks and creditors let alone shareholders.

[owenski] 14/9/2024 21:38

An irony is, the greedy unions were holding their hands out for more money when the whole outfit was bankrupt anyway.

[sonofapeach] 14/9/2024 21:23

I wonder how many more use of brother's boat for survey will be uncovered?

Chokey would be too good for these chancers.

[jaknife] 14/9/2024 15:41

I miss seagreen!

[loglorry1] 14/9/2024 15:28

Just popped in here to read all the apologies from the usual bulls who told Jaknife and me that we were total morons for shorting HARL.

Back at ya...

Meanwhile over at ZPHR they are saying the same there as they said to us here a few months back. FWIW I don't think ZPHR is nearly as bad as HARL was but its sure not worth what they think it is worth over there.

[skinny] 14/9/2024 08:59

From yesterday''s Times :-

[spudtheplumber] 14/9/2024 08:27

From the FT article Downs declined to comment specifically on the prospect of administration but said: "I don't think the Plc will play a great part in the future?.?.?.?it's run its course."