Harland & Wolff Group Holdings PLC Directorate Change (9834M)
September 27 2021 - 2:00AM
UK Regulatory
TIDMHARL
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 or contact:
InfraStrata plc +44 (0)20 3900 2122
John Wood, Chief Executive investor@infrastrataplc.com
Seena Shah, Head of Marketing & Communications media@harland-wolff.com
Cenkos Securities plc (Nominated Adviser
& Broker)
Stephen Keys / Callum Davidson (Corporate
Finance)
Michael Johnson (Sales) +44 (0)20 7397 8900
-----------------------------
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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