REG - Harland & Wolff - Further re: Islandmagee Legal Update

Harland & Wolff groupAnnouncement

15/11/2023 13:30

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RNS Number : 5877T  Harland & Wolff Group Holdings PLC  15 November 2023

15 November 2023

 

 

 

Harland & Wolff Group Holdings plc

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

 

Islandmagee Legal Update

 

Harland & Wolff Group Holdings plc (AIM: HARL), the UK quoted company
focused on strategic infrastructure projects and physical asset lifecycle
management, announces that, following today's hearing, the 6(th) and 7(th) of
February 2024 have been set aside for the appeal hearing.

 

As previously announced on 20 October 2023, the Company received formal
notification of an appeal against the judgement issued on 31 August 2023 in
the Company's favour following the completion of the judicial review.

 

The Company remains of the firm belief that any appeal will hold no merit
given that the judicial review judgement comprehensively rejected the
applicant's claims on all five grounds. The applicant has now reduced their
claims down to two grounds for the purpose of this appeal.

 

In the meantime, the appeals process will not impede or obstruct ongoing
conversations being held with several counterparties in relation to the most
optimum pathway to monetise the project and the Company continues to make
progress as planned.

 

Further announcements will be made by the Company in due course.

 

 

For further information, please visit  www.harland-wolff.com
(http://www.harland-wolff.com/)   or contact:

 

 Harland & Wolff Group Holdings plc                                        +44 (0)20 3900 2122

 John Wood, Chief Executive Officer                                        investor@harland-wolff.com (mailto:investor@harland-wolff.com)

 Arun Raman, Chief Finance Officer                                         media@harland-wolff.com (mailto:media@harland-wolff.com)

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

 Stephen Keys / Callum Davidson / Dan Hodkinson (Corporate Finance)

 Michael Johnson (Sales)

 Liberum Capital Limited (Joint Broker)                                    +44 (0)20 3100 2000

 Nicholas How / Edward Mansfield

 Radnor Capital Partners (Investor Relations)                              +44 (0) 20 3897 1838

 Neville Harris / Joshua Cryer

 

 

 

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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