Share Name Share Symbol Market Type Share ISIN Share Description
Harland & Wolff Group Holdings Plc LSE:HARL London Ordinary Share GB00BLPJ1272 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.125 -0.67% 18.625 18.25 19.00 18.90 18.375 18.625 707,103 13:29:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Gas Water & Utilities 1.5 -10.4 -0.3 - 17

Harland & Wolff Group Holdings PLC Directorate Change

27/09/2021 7:00am

UK Regulatory (RNS & others)

Harland & Wolff (LSE:HARL)
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RNS Number : 9834M

Harland & Wolff Group Holdings PLC

27 September 2021

27 September 2021

Harland & Wolff Group Holdings plc

("Harland & Wolff" or "H&W" or the "Company")

Directorate Change

Harland & Wolff Group Holdings plc (AIM:HARL), the UK quoted company focused on strategic infrastructure projects and physical asset lifecycle management, announces that Mr. Clive Richardson, Non-Executive Chairman of the Company is stepping down from the Board. Mr. Richardson's notice period will run until mid-December 2021.

The Company remains involved in advanced large complex bids and negotiations for multiple projects for financial year 2022 and beyond. Given the volume of work and related time investment required of the management team and of the broader Board of Directors over a prolonged period to bring these contracts to fruition, Mr. Richardson has decided to step down to focus on other activities to which he is already committed.

A formal process to appoint a successor has been initiated and, whilst this progresses, Mr. Malcolm Groat, currently Chair of the Audit Committee, has been named as Interim Chairman. The Company is already executing a plan to strengthen its Board - which has included the recent appointment of Sir Jonathan Band - and further announcements will be made in due course.

John Wood, Group CEO of commented: "The Board and I wish to place our thanks to Clive for his invaluable contribution to the Company's business. He has successfully steered the Company through the peak of the COVID-19 pandemic and has overseen the acquisitions of Harland & Wolff (Appledore) and Harland & Wolff (Methil) & (Arnish) in 2020 and 2021 respectively. I warmly welcome Malcolm as our Interim Chairman, who is equally adept at navigating the journeys of high growth AIM companies. I look forward to working closely with Malcolm as we embark upon the next stage in the Company's growth."

   For further information, please visit  www.harland-wolff.com    or contact: 
 InfraStrata plc                                    +44 (0)20 3900 2122 
  John Wood, Chief Executive                         investor@infrastrataplc.com 
  Seena Shah, Head of Marketing & Communications     media@harland-wolff.com 
 Cenkos Securities plc (Nominated Adviser 
  & Broker) 
  Stephen Keys / Callum Davidson (Corporate 
  Michael Johnson (Sales)                           +44 (0)20 7397 8900 

About Harland & Wolff

Harland & Wolff is a multisite fabrication company, operating in the maritime and offshore industry through five markets: commercial, cruise and ferry, defence, oil & gas and renewables and six services: technical services, fabrication and construction, decommissioning, repair and maintenance, in-service support and conversion.

Its Belfast yard is one of Europe's largest heavy engineering facilities, with deep water access, two of Europe's largest drydocks, ample quayside and vast fabrication halls. As a result of the acquisition of Harland & Wolff (Appledore) in August 2020, the company has been able to capitalise on opportunities at both ends of the ship-repair and shipbuilding markets where this will be significant demand.

In February 2021, the company acquired the assets of two Scottish based yards along the east and west coasts. Now known as Harland & Wolff (Methil) and Harland & Wolff (Arnish), these facilities will focus on fabrication work within the renewable, oil and gas and defence sectors.

Harland & Wolff is a wholly-owned subsidiary of InfraStrata plc (AIM: INFA) - soon to be known as Harland & Wolff Group Holdings plc. InfraStrata plc, the London Stock Exchange-listed firm focused on strategic infrastructure projects and physical asset life-cycle management applied to Companies House to trade under the new name on September 14, 2021. The company believes that this change of name will better reflect its ambition in expanding its core business and the significant development of its shipbuilding and fabrication activities.

In addition to Harland & Wolff, it owns the Islandmagee gas storage project, which is expected to provide 25% of the UK's natural gas storage capacity and to benefit the Northern Irish economy as a whole when completed.

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(END) Dow Jones Newswires

September 27, 2021 02:00 ET (06:00 GMT)

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