Hi Kinbasket
It is not really a case that he has brought but more of a complaint which the Ombudsman has looked into. I think it is there that mischief has been made if any, which I take to be local illegal fishermen and not the French. I remember also at the time that SRT said that the French had changed their minds abouit the loan following some brouhaha, but that the BFAR had already asked for the loan to be cancelled. |
Perhaps I’ve watched and read too many bits of corporate conspiracy fiction, but its a long time to wait for a Phillipines lawyer to start on this. ie. Events happened years ago.
“If you want to get SRT and its technology on the cheap, now would be a good time to muddy their waters”
“Have you got a contact ?”
“Lets see what I can arrange” |
Anyone who read the article when first published could have sold at around 30p. So SRT needed to issue an RNS as soon as they were aware of the price sensitive news and probably before the article was even published!!!!
It's too late now the damage has been done. |
Sorry Dave fair point I didn't know the originating papers were public and it isn't just press comment that was being discussed |
They should say sometime even if it’s ’we are considering the content with our advisors’ Otherwise the company will become uninvestable |
It’s not just press speculation. Why aren’t SRT commenting? |
...that Indonesian project being cancelled/retendered is my biggest concern. Not really concerned on the BFAR shenanigans. |
at the same time they should come clean and explain at least a little about the problems on the loan for Indonesian project. It is nearly a year of crossing 'i's and 't's. Yeah, right... |
Yep. It's a "response to press speculation" type RNS...the share price has moved materially as well. They have to RNS I think. |
Whatever the reality and shenanigans behind that newspaper report, it's an item that's in the public domain and it would be good for the company to communicate something with its shareholders. |
Gone from bad to very bad. |
I thought an RNS in these circumstances was a requirement not optional! Failure to do so could have serious conseqences imo.
In the current situation those that read this BB, LSE and others now have an unfair advantage over those in the dark. |
Disappointed no RNS. Lawyers probably delaying the process! I always respected ST so hope my judgement is well founded. |
Richard Hurd is the FD
Simon T is the business-without him, it’s difficult to see a future unless it was owned by a bigger parent.Surely they have to say something about it all even if ‘nothing to see here sir’ |
Yump. 1. Foreign CEO's or companies being charged is nothing new. 2. if the investigation shows nothing to worry about, then business as usual.3. If the investigation shows something happened, it is a whole new ball game. Any USA support for SRT would probably disappear, and, indeed, SRT may then not be able to do business in the USA or with any USA company until it has paid the DOJ a large fine.4. How long will the investigation take ? Are any elections imminent that could alter the outcome ?5.. why was Simon implicated, but Hurd (the CEO) wasn't ? When is the new year end ? June ? |
[14260]
It takes two to tango... |
The news seems to have been out for a few days looking at the internet-why has this not been covered by the company in an RNS? |
Smacks of spoiling tactics by someone.
I can’t imagine how any overseas CEO could be held in any way responsible for an internal decision.
If anything comes of this the Phillipines will label itself as somewhere not to do business. Ad 1/2 of S America and 1/2 of Africa and there’s still plenty to go for. |
Hi LaValmy
Unable to avoid a banana skin?
Unfortunately, a lot of SRT's potential markets are.....banana republics.
I'll get my coat.
GLA |
If anyone wants to get a handle on the politics involved be sure you read the second part of the Rappler investigation.Lav 14203
'Big fishers encroach on small fisherfolk's municipal waters'
There is clearly a power struggle between Marcos and the big fishing people.On July 24 2023 Marcos said he would prioritise amending the fisheries code in the interests of the fisherfolk. He appears to be using the threat of an EU red card to tame the power of the large fishing boats. The EU threat will hopefully convince the Supreme Court to back Marcos. |
I would anticipate a RNS response from SRT tomorrow or shortly after. |
yump - I remain astonished that nobody has gone to one of the Middle East sovereign wealth funds, asked for $1B and used it to set up an all-encompassing maritime management company.
The model I have in mind is Palantir ( which presents itself as a software and data company, but had its origins largely in the US defence and security arena. They've gone from there to have their fingers in almost every pie you could think of eg the UK NHS! The same sort of organisation focused on the maritime domain could become large, rich and powerful in very short order. |
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