REG - Harland & Wolff - Islandmagee Energy Update

Harland & Wolff groupAnnouncement

17/06/2024 16:15

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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
(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)

 h2Radnor (Investor Relations)                                             +44 (0) 20 3897 1838

 Neville Harris
 Cavendish Capital Markets Limited (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

 

 

 

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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