18th Jun 2024 11:15
Harland & Wolff Group Holdings PLC - London-based operator of shipyards in Belfast and Scotland and developer of Islandmagee gas storage project - Notes on Monday that the Appeals Court of Northern Ireland has decided against the UK Department of Agriculture, Environment & Rural Affairs in the judicial review of the government's approval of a marine licence for Harland & Wolff's Islandmagee gas storage project. The licence grant in 2021 was challenged in 2022 by a group called No Gas Caverns Ltd. Harland & Wolff said of the latest court decision it "understands that matters including environmental studies, impacts in which the company has been directly involved, has faced up successfully to legal challenge".
Chief Executive Officer John Wood said: "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."
Current stock price: 9.09 pence, down 0.7% on Tuesday morning
12-month change: down 39%
By Tom Waite, Alliance News editor
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