Harland & Wolff Group Holdings PLC Update re. Possible Offer (6183X)
21 Diciembre 2023 - 3:50AM
UK Regulatory
TIDMHARL TIDMTTM
RNS Number : 6183X
Harland & Wolff Group Holdings PLC
21 December 2023
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, IN WHOLE OR IN PART IN, INTO OR FROM THE UNITED STATES
OR ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF
THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.
THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.8 OF THE CITY CODE
ON TAKEOVERS AND MERGERS (THE " CODE ").
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.
FOR IMMEDIATE RELEASE
Harland & Wolff Group Holdings plc
("Harland & Wolff" or the "Company")
Response re. announcement by Isles of Scilly Steamship Company
Limited
The Board of Harland & Wolff Group Holdings plc (AIM: HARL)
provides the following update on the possible offer for the Isles
of Scilly Steamship Company Limited ("ISSCL").
As previously announced, the Company has been considering the
opportunity to build and/or operate ferries to service the Isles of
Scilly to Penzance route, which it believes is significantly
underserved by its current operation. The Company continues to
believe there is a clear strategic, operational and financial
rationale for the proposed acquisition in pursuit of this and is
disappointed that the board of ISSCL had unequivocally rejected its
proposal. The board of Harland & Wolff has concluded not to
pursue this matter and accordingly the Company does not intend to
make a firm offer for ISSCL. Meanwhile, the Company continues with
its plans to offer a fast ferry service on the Penzance - Isles of
Scilly route as well as offer dedicated freight service on this
route. The Company will make further announcements on both these
services in due course.
This is a statement to which Rule 2.8 of the Code applies.
Under Note 2 on Rule 2.8 of the Code, the Company and any
person(s) acting in concert with it, reserve the right to set the
restrictions in Rule 2.8 aside in any of the following
circumstances:
a) with the agreement of the Board of ISSCL;
b) if a third party announces a firm intention to make an offer for ISSCL;
c) if ISSCL announces a Rule 9 waiver proposal (see Note 1 of
the Notes on Dispensations from Rule 9) or a reverse takeover (as
defined in the Code); or
d) if the Takeover Panel has determined that there has been a material change of circumstances.
For further information, please visit www.harland-wolff.com or contact:
Harland & Wolff Group Holdings plc +44 (0)20 3900
John Wood, Chief Executive Officer 2122
Arun Raman, Chief Finance Officer investor@harland-wolff.com
media@harland-wolff.com
Cavendish Securities plc (Nominated Adviser
& Broker)
Stephen Keys / Callum Davidson / Dan Hodkinson
(Corporate Finance) +44 (0)20 7397
Michael Johnson (Sales) 8900
----------------------------
Liberum Capital Limited (Joint Broker) +44 (0)20 3100
Nicholas How / Edward Mansfield 2000
----------------------------
Radnor Capital Partners (Investor Relations) +44 (0) 20 3897
Neville Harris / Joshua Cryer 1838
----------------------------
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, energy 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 there 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
renewables, energy and defence sectors.
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
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