Listen to our latest Investing Matters Podcast episode 'Uncovering opportunities with investment trusts' with The AIC's Richard Stone here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Detailed below is an abstract from the recent RNS in which we had various updates in which I note that 'within the next few weeks' takes us to this week.Hopefully we will not have a repeat of the EU Grant which went on for months:
Islandmagee Gas Storage Project Update
'The Company's position around licensing remains robust and the Company sees no reason why a marine license will not be issued in due course and that no additional consultations are needed to refresh other licenses. With that in mind, the Company has recently instructed Grant McBurney and Garry McGhee of Carson McDowell LLP to carry out an independent review. To ensure further transparency and to strengthen its legal position, they have further instructed leading barrister David Elvin QC from Lanmark Chambers to provide a legal opinion on aspects of the Marine Licence in order to mitigate against any further potential delays. The opinion returned has provided third-party assurance to the Company that there is no reason why the outstanding Marine License process cannot be completed without further delay. The Company continues to maintain dialogue with DAERA and remains optimistic that a recommendation for the issuance of the Marine Licence will be made within the next few weeks.'
Edit: I am still nervous about the need to have instructed lawyers & I am now showing 'Hold'.
Chris - the nervousness you feel around the awarding of the ML is understandable and no doubt shared by others. To that end, I think management instructed legal counsel with some very specific purposes in mind:
- To assist in unblocking whatever logjam exists in DAERA that has thus far prevented them from making a decision
- To inform the decision making process through the view of a heavyweight legal professional with specific experience in this field in the form of David Elvin QC (his very impressive CV is available here > https://www.landmarkchambers.co.uk/wp-content/themes/landmark/download.php?post_id=475)
- To underline to DAERA the legal weight of argument INFA is willing to bring to the process
- To make clear to DAERA the lack of further grounds for delaying the process
It's all about bringing clarify to a decision that has, no doubt, become mired in environmental, regional and political issues over the years and may continue to be so unless significant rigour and urgency is brought to bear on the process.
Time will tell whether the legal intervention helps to cuts through the chaff, but I make it a good move by JW.
Indeed, a very impressive CV, sea-miles. Thanks for that.
In addition to Mr Elvin we have also had the ear of BoJo and the former Attorney General and local to Appledore, Geoffory Cox. Who said, "had been "engaged in constant and vigorous discussions" and would support Infa with their, "credible and established new owner with a viable business plan".
Also, not new news, but from the local press, "New operator Harland & Wolff is hosting two events at the site for prospective employees on Thursday, September 10 and Friday, September 11.
The company says they are being held in readiness for ‘highly anticipated new contracts’ and says they will provide the opportunity to meet and speak with existing Harland & Wolff employees who can share their experiences."