20 October 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 it has 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. With an automatic right to appeal against the judgement of the judicial review, the applicant has expectedly filed an appeal. The Company is due to receive a hearing date in the next few weeks with the hearing likely to be scheduled for early 2024.
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. 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 or contact:
| Harland & Wolff Group Holdings plc John Wood, Chief Executive Officer Arun Raman, Chief Finance Officer
| +44 (0)20 3900 2122 |
| Cavendish Securities plc (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 |
| Radnor Capital Partners (Investor Relations) Neville Harris / Joshua Cryer | +44 (0) 20 3897 1838 |
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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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