Harland & Wolff Group Holdings PLC (GB:HARL) has released an update.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Harland & Wolff Group Holdings PLC is facing a setback as the UK Government has declined their £200 million Export Development Guarantee application, prompting the company to seek alternative debt facilities with Riverstone Credit Management LLC for immediate working capital needs. Amidst these financial challenges, CEO John Wood takes a leave of absence, with Russell Downs stepping in as the proposed Interim Executive Chairman to guide the company through recapitalization efforts. As the firm works on its long-term financial strategy with Rothschild & Co, shareholders are kept in anticipation of new priorities and the lifting of the share suspension.
For further insights into GB:HARL stock, check out TipRanks’ Stock Analysis page.