REG - Harland & Wolff - Directorate Change

Harland & Wolff groupAnnouncement

27/09/2021 07:00

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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
(http://www.harland-wolff.com)   or contact:

 

 InfraStrata plc                                         +44 (0)20 3900 2122

 John Wood, Chief Executive                              investor@infrastrataplc.com (mailto:investor@infrastrataplc.com)

 Seena Shah, Head of Marketing & Communications          media@harland-wolff.com (mailto:media@harland-wolff.com)

 Cenkos Securities plc (Nominated Adviser & Broker)      +44 (0)20 7397 8900

 Stephen Keys / Callum Davidson (Corporate Finance)

 Michael Johnson (Sales)

 

 

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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