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MSI Ms International Plc

0.00 (0.0%)
30 Nov 2023 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Stock Type
Ms International Plc MSI London Ordinary Share
  Price Change Price Change % Share Price Last Trade
0.00 0.0% 755.00 08:00:04
Open Price Low Price High Price Close Price Previous Close
765.00 755.00 765.00 755.00 755.00
more quote information »
Industry Sector

Ms MSI Dividends History

Announcement Date Type Currency Dividend Amount Ex Date Record Date Payment Date

Top Dividend Posts

Top Posts
Posted at 30/11/2023 15:20 by norbert colon
A takeover is an interesting discussion point and clearly one cannot rule it out given the UK equity market as a whole and matters such as the age of the Board (excl Nick Bell).

Certainly, given the step change in contract wins in Defence and the long term trajectory of supplying the US Navy it would seem very plausible that a larger peer would be interested in MSI given it also has valuable freeholds and a takeover would strip out the Plc cost.

I wouldn’t like to see this happen personally (not yet anyway) as there is plenty to go for yet on the valuation before we get a premium bid :)
Posted at 30/11/2023 13:09 by yasrub
I agree the more I look at MSI it is a fine balance with wanting management to concentrate on the business and not PR grabbing like some, but a little more detail would be appreciated. There is no doubt the defence division contracts won in the last year have been astounding. Based on the profile of the board and recent shareholding announcements with current valuation I see this as a prime takeover target.
Posted at 03/11/2023 10:40 by 74tom
This is developing into a rather fascinating situation.

There is little doubt that the Terrahawk Palladin sales to Ukraine & the US Navy contracts will have put MSI on the map like never before. However, was it the 5 year MoD contract which finally pushed an interested party into action?

Roger Lane Smith has been a director since 1983 & as per companies house, turned 78 last month. He hold's 100k shares at present, so the grant of a further 100k in phantom options is a significant incentive.

This article on phantoms is worth a read;

"There are common situations where phantom shares may be the most convenient option, such as:

An opportunity to sell your company arrives before you got around to a real equity sharing program. There isn’t time to implement one, but you do want to reward some key people who have helped you build the business. You could quickly award phantom shares before you get into the sale process with the buyer, thereby providing justifiable reward when it closes."
Posted at 03/11/2023 01:53 by fft
Will RLS still be working for the company in 10 years time (he will be 87-88) ? If I have read the accounts properly he is also, curiously, the only director with no options. So what would be RLS reason to accept this ? Especially on a day when they are handing out options to other directors !!Does this indicate, subtly, they are putting MSI into play ?
Posted at 02/11/2023 09:07 by yasrub
The other positive is that I believe recently this was a rolling 1 year commitment and has now been increased to 5 years, giving clear outlook and trusted confidence in MSI.
Posted at 01/11/2023 12:31 by 74tom
Excellent work NC.

This part is really interesting;

"The International Guns, Missiles and Rockets Project Team, part of the UK Ministry of Defence (MOD) intends to award a 5-year contract to MSI Defence Systems Ltd (MSI-DSL) for Contracting for Availability (CfA) services for the 30mm Gun System across the Naval fleet from June 2024.

It is considered that the award of the contract without prior publication of a contract notice in the UK notification service is lawful under Regulation 16 (1) (a)(ii) of the Defence and Security Public Contracts Regulations 2011 on the grounds of the following technical reasons.

i. MSI-DSL are the OEM and Design Authority for the in-service 30mm Gunnery Systems and;

ii. have proven technical proficiency to resolve the growing obsolescence issues and;

iii. have a number of capability improvement options at a high level of technical readiness which could be embodied immediately and;

iv. as a result are the only supplier who could concurrently and efficiently manage both the ongoing in-service support and critical obsolescence resolution at a high TRL to prevent operational defects and degraded operational capability to the Fleet."
Posted at 16/10/2023 11:47 by shanklin
Have just read the last 200+ posts.

Obviously the defence division is key for MSI and there are several people posting here with considerable expertise of the company.

Given that MSI is a miniscule company when compared with competitors such as BA., do you see the defence success as sustainable or something which larger peers will quickly emulate. Presumably MSI are more entreprenarial and fleet of foot which will help against very bureaucratic competitors.... ....albeit they may just try to buy the defence divsion.

MSI seem to be in a real sweet spot with what they are doing defence wise so what might that mean in EPS terms 3 to 5 years out?
Posted at 12/10/2023 14:01 by 74tom
@Norbert, appreciate that you are the resident expert here, however I came to a different conclusion after some digging. I don't see how MSI could RNS a signed £22.4m contract 2 months before the first IFU was announced?

"The first IFU package was announced on 15 February 2023: Ukraine to receive multi-million pound capability boost from international fund. First deliveries from this package have now arrived in country."

The previous IFU appears to have been this one announced on 13th June;

That would line up with the 22nd June MSI snippet re. the £54m order received that was snuck out in the full year results. It would also explain why the UK Gov have name dropped MSI & Terrahawk Paladin (generating a lot of publicity on Twitter), as £54m is the vast majority of the £70m quoted...

Re. the new £100m fund, it looks to be related to mine clearance rather than air defence, as per the below extract from Shapps;

"and more than £100 million of new equipment pledged to give Ukrainian soldiers what they need to breach Russia’s deadly minefields."
Posted at 02/10/2023 07:21 by cockerhoop

Yes the 30mm canons are NG, I suspect they may be supplied to Rock Hill rather than Norwich. Excellent relationship with MSI (note speed of delivery to MSI for the initial VSHORAD contract) I suspect the cost was contained within Fridays $22m as with the $29m for the optical sensors you're at around the $3.25m Mk38 Mod 4 unit price.
Posted at 02/10/2023 07:11 by felix99
MSI-Defence Systems US LLC,* Rock Hill, South Carolina, is awarded a $29,263,267 firm-fixed-price, indefinite-delivery/indefinite-quantity contract for the procurement of the MK 48 Mod 2 Electro-Optical Sight (EOS), EOS spare parts and transportation cases, and evaluation and repair of EOS subassemblies in support of the MK 38 Mod 4 Machine Gun System for the Navy, Coast Guard, and Military Sealift Command. Work will be performed in Norwich, United Kingdom (56%); and Rock Hill, South Carolina (44%), and is expected to be completed by September 2026. Fiscal 2023 weapons procurement (Navy) funds in the amount of $7,601,246 (57%); and fiscal 2023 shipbuilding and conversion (Navy) funds in the amount of $5,700,936 (43%), will be obligated at time of award; the funding will not expire at the end of the current fiscal year. This contract was not competitively procured via the website, with one offer received. This is a sole source action in accordance with Federal Acquisition Regulation 6.302-1, only one responsible source. MSI-Defence Systems US LLC is the original equipment manufacturer of the systems and the only company who can provide the systems and perform the required evaluation and repairs. No other supplies or services will satisfy agency requirements. Naval Surface Warfare Center, Crane Division, Crane, Indiana, is the contracting activity (N0016423DJQ13).

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