HARL.L

Harland & Wolff Group Holdings plc
Harland & Wolff - Islandmagee Energy Update
17th June 2024, 15:01
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RNS Number : 7553S
Harland & Wolff Group Holdings PLC
17 June 2024
 

This announcement contains inside information

17 June 2024

 

Harland & Wolff Group Holdings plc

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

Islandmagee Energy Update

Harland & Wolff Group Holdings plc (AIM: HARL), the UK quoted company focused on strategic infrastructure projects and physical asset lifecycle management, provides an update on the judgement that was delivered in the Appeals Court of Northern Ireland earlier this afternoon.

After a successful outcome of the Judicial Review with the Department of Agriculture, Environment and Rural Affairs ("DAERA") prevailing on all counts, the decision was then appealed on two specific counts.  The judgement delivered today is that DAERA have been unsuccessful on both counts.

The Company understands that matters including environmental studies, impacts in which the Company has been directly involved, has faced up successfully to legal challenge.

The Company awaits the written transcript of the judgement to fully consider the implications for the Islandmagee Gas Storage Project and will issue a further announcement in due course after it has analysed the judgement.

John Wood, Group Chief Executive Officer, Harland & Wolff comments: "Whilst today's judgment is disappointing, it is, unfortunately, not uncommon in the legal system. After reviewing the judgement in full, we will consider next steps in relation to our options, including but not limited to, an appeal at the Supreme Court, should the need arise."

For further information, please visit  www.harland-wolff.com  or contact:

 

Harland & Wolff Group Holdings plc

John Wood, Chief Executive Officer

Arun Raman, Chief Finance Officer

 

+44 (0)20 3900 2122

investor@harland-wolff.com  

media@harland-wolff.com   

h2Radnor (Investor Relations)

Neville Harris 

+44 (0) 20 3897 1838

Cavendish Capital Markets Limited (Nominated Adviser & Broker)

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

Michael Johnson (Sales)

 

+44 (0)20 7397 8900

Liberum Capital Limited (Joint Broker)

Nicholas How / Edward Mansfield

 

+44 (0)20 3100 2000

 


 

 

 

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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