Harland & Wolff brands articles regarding EDG application 'speculative and misleading'

Shipbuilding firm Harland & Wolff said on Wednesday that it considers recent articles regarding its £200.0m Export Development Guarantee application both "speculative and misleading".

Harland & Wolff said it has not received any decision from the UK Government in relation to its application and that it was continuing to provide information and updates on a regular basis to facilitate Westminster in its decision-making process.

The Belfast-based firm, responsible for building the Titanic, said its EDG application was for a standard 80/20 product and has not asked for a 100% guaranteed product on any occasion. It also stated there were no taxpayer monies provided to the company.

"The company continues to maintain its discussions with Government and will make further announcements on the outcome of its EDG application in due course," concluded Harland & Wolff.

Harland & Wolff's comments come amid uncertainty as to just how the new Labour administration will handle the company's request, with several senior party member's criticising the Conservative government's handling of the firm's £200.0m commercial loan request.

As of 1330 BST, Harland & Wolff shares remained suspended.

Reporting by Iain Gilbert at Sharecast.com