Westminster Share Discussion Threads

[ugly troll] 10/5/2017 12:45

FEED ME MORE WSG

[luckymouse] 10/5/2017 12:45

free stock charts from uk.advfn.com

[daicaprice] 10/5/2017 12:23

Starting to look lively.

DC

[saucepan] 10/5/2017 11:08

aliaspc: firstly, thanks for your post 12859. I think it is the first I have seen here that brings in some industry experience, plus knowledge of context.

Despite my own frequently expressed misgivings, I find myself back in here today (bought in tranches between 11.1 and 11.7p).

The evidence-based and speculative joining of some of the dots is rather compelling; and I felt there was a technical/chart based case developing too.

[someuwin] 10/5/2017 09:04

Now that is a VERY significant find!

And the job post aligns exactly with the WSG careers page!

[nick2412] 10/5/2017 08:44

Needs verification that it is WSG (Westminster Aviation Security Services - WASS) who placed the ad, however, if it is, then it's very significant. (Originally posted by 'eskers' on the LSE forum).

We are looking for a new Technical Security System Engineer to join our team at the newly opened Muscat International Airport.

The applicants must have at least ten years’ experience to include installation and maintenance of security systems and prior experience of working in a similar environment overseas.

Must have in depth knowledge of Security Systems as listed below

CCTV Systems – IP and Analogue, Thermal.
Access Control Systems – IP and Analogue
Traffic Control Systems, – Rising Ramps, Barriers and Parking Systems.
PIDS – Fibre Optic and Leaky Coax
Scanning Equipment – Both Electronic and X Ray, People, Cargo, Vehicles.
Fibre Optic Cable Infrastructure, installation and basic design
Structured Voice, Data Cable Systems, installation and basic design
Intrusion Detection.
Radar Detection.

Position Requirements
Bachelor, 5 to 6 Years work experience
Contact Information

Contact Name: Westminster Aviation Security Services (WASS)

[learn4good.com]

[harleymaxwell] 10/5/2017 08:31

One step forward two steps back it seems

[nick2412] 10/5/2017 07:58

I guess it could be Oman. If so, there's a fascinating link on the LSE forum.

[donk7] 09/5/2017 22:07

Good post, ali, with your interesting personal insight. Oman / Muscat sounds like it could be a possibility based on good UK relations, a new terminal for this year and also the passenger numbers fit the contract size.

MM's wanted stock today and hopefully that bodes well for anticipated news flow - possibly a trading update prior to results at the end of this month and the AGM in June. Technically this looks set for a significant uplift.

[someuwin] 09/5/2017 16:02

...just a matter of time.

[jamdan1] 09/5/2017 15:22

Nice bit of movement....news coming?

[daicaprice] 09/5/2017 14:52

Gone blue, is our seller finally out? We should find out this afternoon if this volume keeps up.

DC

[aliaspc] 08/5/2017 07:25

Graham, I should first stress, I am not suggesting I have any inside knowledge, however, IF it is Oman, I have sat across the table from the very Ministers that make the decisions, having spent 2 wonderful (if sweaty) years working on the projects for Muscat and Salalah airports (07-09). That was at a time when the airport was supposed to be operational Nov 18th 2010!!! (To coincide with Sultan Qaboos' birthday). As you see, the best laid plans and all that. Although to be fair, this was primarily due to redesign of Muscat following widespread flooding following cyclone Gonu in 2007. Resulting in millions of cubic tonnes of rock needing to be blasted out of nearby mountains and trucked in to lift the entire airport site by some 1.5m, plus major culvert building ops. I digress...the point I would make is that this environment is far removed from a UK or European boardroom. I worked in procurement at the pre-qual stage and would not put too much emphasis on the fact that WSG have a less than squeaky past or gleaming accounts for that matter. You should see some of the cowboys that were pre-qualified!
I am quite heavily in here, sure, but if one can exercise patience, massive ME contract or not, good times are ahead. GLA.....PMA 8o)

[graham1ty] 07/5/2017 17:56

"A tad premature". They announced East Africa almost five years ago.

Was that also a tad premature ?

[deanowls] 07/5/2017 15:19

When hand held scanners become technology!

[donk7] 07/5/2017 10:29

Agreed neo, the statement was a tad premature. The more recent statements seem to indicate it has taken longer because of add-ons and additional secondary airports being included. As they allude these deals are complex with multiple parties involved. As you say conclusion of the ME contract and add-ons will be transformational. I would envisage another trading statement before the results so there should be a bit of newsflow to come.

[donk7] 07/5/2017 10:23

Graham, diatribe means bitter and negative and obviously it's your choice to focus on the past rather than where we are now. Not all things such as the franchise deals will be the goose that lays the golden egg.

It's all very selective and you ignore the regular technology contracts WSG are accumulating in different global regions, the recruitment of new airport security related posts, the fact that the improving technology, Lungi and the ferry business revenues have moved WSG to the cusp of EBITDA profitability.

It's all about timing and the Company looks financially on the up with cash, improving revenues, EBITDA breakeven and the potential for a transformational contract or two.

The shares were trading about 30p back in October last year when the Company was in a far less strong position in terms of cash and revenues throughout the divisions. With a comfortable cash position, Darwin out, improving fundamentals across the divisions and the Governmental support for the ME contract then this looks a decent entry level and risk / reward but obviously it's not for you. Anyway, good luck with your investments.

[neo26] 07/5/2017 10:17

i think the statement that was used last year by the company was a bit optimistic, something along the lines of contract negotiations are largely complete, this to me suggested they were close.

Nevertheless, if by any chance the deal does come in, it will be an instant multi-bagger.

[graham1ty] 07/5/2017 09:51

Diatribe ? Can you point out which bit is untrue ?

[graham1ty] 07/5/2017 08:28

Donk, I am a government dealing with WSG. So, I do some due diligence.

I see a company that has never made a profit. I see a company that bleeds cash, has undertaken TWENTY THREE fundraisings this decade, just to survive. I see a company that delayed delivery on a simple ferry contract by two years. I see a company with franchise agreements in Mexico and Nigeria, neither of which has ever produced anything of note. I see a company that makes bad acquisitions, and then is litigious (CTAG). I see a company running a tiny, tiny airport in LUngi. I see a company caught up in an alleged bribery/corruption scandal in Namibia. I see a CEO who has made endless over optimistic statements about contracts. I see a company that has had to rely on Wonga just to survive. I keep meeting lots of people from the same family !

I really wonder if they have the resources, the honesty, the know how, the personnel to deliver.

And I decide NOT to give them a vital national infrastructure project.

[donk7] 07/5/2017 07:52

Neo,

Agreed, you are correct it wouldn't be 20 bagger overnight on the ME contract alone but it would be transformational. If WSG get one contract then this adds credibility to achieving other pipeline contracts which the market will start to factor in. There is also the 'adjacent' border contract which may well be associated with the same country and is certainly in the same vicinity.

The main potential contract in focus is for £35m plus for one ME airport and is being expanded in scope with multi-million add-ons for other services and an extension into other secondary airports within the same country. So, at a rough estimate, revenue could be up to £50m from this contract and the add-ons inclusing secondary airports. You can't deny that an announcement of completion of this contract wouldn't push the share price massively higher and it would attract a high growth company valuation.

For their existing contract in SL I recollect seeing an analyst note that management indicated that operating EBITDA has the potential to reach up to 28% based on passenger throughput and operational efficiencies. I would be guessing if I put figures for the ME contract, however, it would be transformational.

The £35m plus contract, the additional secondary airports and multi-million add-ons and the adjacent border contract could provide for profits even at lower margins received in SL that certainly wouldn't make a 100m to 200m m/cap outlandish given the rest of the pipeline MOU's. It's probably more circumspect just to say it would be transformational.

The fact is that Darwin are out, the company have raised a comfortable amount of cash, they are now at EBITDA breakeven, passenger traffic for SL is increasing with positive knock-on implications for ferry revenues and the technology division is ading useful revenue.

So existing business is beginning to underpin the current valuation. Talks for the ME contract are now taking place at Ministerial level with the UK Govt. playing an active and significant role. The Govt. want to be able to show off some flagship contracts in the context of Brexit. It would be timely for the Tories if it were to happen before the election but, with the Company okay for cash and with all parts of the business improving, then this seems a decent entry level so I am happy to wait.

The risk / reward looks attractive on the back of improving existing fundamentals and the potential for game changing contracts that are being negotiated at governmental level.

[neo26] 06/5/2017 15:19

DonkCan I please ask how 35m revenue would bring about a 20bagger, that would make MKT cap in excess of £200m.Out of that 35m revenue how much profit do you think you expect they would make?

[youkme] 06/5/2017 00:23

3p as you are called; walk the walk don't talk the talk