Past experience suggests that we should ignore everything until we get an RNS stating categorically that something has been signed. |
I think we would be better spending time working out what these potential new sources of revenue would do to the eps than on semantics. |
EC - sorry but you are twisting the English language, and I suspect you know it.
"There are four specific contracts with a total value of $420m that we are focussed on near-term".
The only *fact* here is the phrase "we are focussed on....". Apart from Indonesia, where the delays have been widely discussed, these contracts had clearly not been signed as of yesterday, or we would have been told otherwise.
"All four contracts start well before the end of the calendar year".
This is an obvious elision for "All four contracts *are expected to* start....": if taken literally, as you appear to be doing, the statement would simply be untrue. The *fact* is that the contracts will start by year-end only if the contracts are signed in the hoped-for timescale.
In short, you are confusing expectations with known facts. |
 From the last TU update -
"However, we are pleased to advise that the scope of Phase 2 has now been formally agreed and confirmed and the customer has advised that they expect the formal documentation and notice to proceed to be issued within the next few weeks."
I suspect as ST is currently in the ME, that a signing is likely for the $9m contract.
As for the ME contract worth $200m mentioned as closing within this calendar year, again, this was mentioned in recent TU -
"The larger contract opportunity contract timing looks likely to be later this calendar year subject to project scope finalisation and final award."
As for the funding -
"In January 2024, we successfully completed an equity cash raise of £10.5m. This placed the Company on a strong cash footing intended to enable us to withstand the variances that come with our strategy of becoming a large global maritime systems business. In addition, we retain our secured loan note programme where we have existing undrawn capacity of £16.7m. Thus we are in a positive position to weather the project delays.
ST comment -
"The fundamentals and prospects of our business are strong, and we are fortunate to be in a supportive working capital position." |
FWIW, Kuwait has been suggested as one of the potential contracts. This snippet dated June '24 seems to confirm Maritime security is on their agenda. |
Wow some folk really need to feel right don’t they. Actually its relatively irrelevant as well.
Nice not to be in ST’s position of being between a rock and a hard place, when it comes to keeping investors informed, isn’t it? |
But there is!
It coukd just as well be a 'relief rally' that has overshot, on the pleasant news that the webcast wasn't a plea for funds...yet.
Either there'll be a fundraise or there'llbe news of a contract...and possibly both.
It's the nature of the beast..
AFAICS |
pldazzle,
"There are four specific contracts with a total value of $420m that we are focussed on near-term".
"All four contracts start well before the end of the calendar year".
These are facts (unless they are fictions, which is a different issue). They also meet the FCA definition of "precise" from the link I posted previously. They also directly caused the share price to rise by over 40% so far in the 28 hours after they were broadcast.
There really should be no argument about this. |
EC - I have listened to the webcast carefully three times. In my view it contained absolutely no factual information - e.g. in regard to firm orders - in any sense that would warrant an RNS, let alone require one.
It would seem that the share price has moved largely because the numbers under discussion are huge, as they undoubtedly are. But as we know from bitter experience, there's many a slip twixt cup and lip. In those circumstances, an RNS would risk doing more harm than good.
An RNS Reach, on the other hand, might be a useful tool here. |
EC - I'm not sure what inside information I was supposed to have gleaned from ST's presentation. What I understood was that he's very positive about the contract situation, that the putative contracts are very large, and that he's confident one or more will be signed imminently. Oh, and Nexus should be out by Christmas.
I can't remember the previous such webcast, but as far as I do, the message was surely pretty much identical, and we know what's happened since :¬( |
Basically SRT can’t win can they ?
I’d prefer it if the FCA actually used their rules to go after the shysters that lie, milk the market, then delist.
I suggest folk get exercised about that, if they like getting exercised about something. |
Extrader, you clearly do not have a proper understanding of the role of the NOMAD or the responsibilities of management.
It is worth looking at what the FCA say on this matter:
Don't get me wrong, I am very happy with the news, but I do get tired of SRT playing fast and loose with the rules. |
The Nomad is presumably aware of the circumstances behind SRT's track record of 'overpromise and under-deliver' and appears to have taken a different view on this occasion.
It can hardly compel SRT to issue a speeding ticket post-fact, saying 'we no no reason...etc', when Simon has explicitly said WHY an improvement in share price is warranted, in his opinion.
And if the Nomad felt a trading statement was required in the circs, surely it would have said so?
After all, that's what it's paid to do....
AFAICS |
Its still pipeline talk, unsigned contracts, so couldn’t go in a trading statement.
There are many tweets, podcasts, interviews from AIM companies that give a nod and a wink and come to nothing, despite causing price movements.
If you’re not watching or hearing them, its just tough, or lucky, depending on whether you pile in and win or lose. |
Thank you EC. Maybe you are right about a trading statement. I do not know how much new news there was though. |
Hi YUMYUM,
I watched it on the train home yesterday, What I heard was a confident claim of $420m of contracts to be closed before the year-end. Great news certainly, but undoubtedly price sensitive.
Yes, they're not certain yet, yes ST has a long history of over-promising and under-delivering, but the price is up 40% since the webcast and there should have been a trading statement. |
If those contracts are signed then the days of an independent SRT may be short |
EC, what is your take now that you have seen the webcast, or did you not have time to see it yet ? |
I don’t want any dividends or buybacks as I bought for growth. Perhaps if SRT ends up in the FTSE .! |
The fire was detected by guard personnel in Bakamla RI, which is thought to have started from the 6th floor," said Gugun, Sunday, September 29.Gugun said that the 6th floor was used by the National Commission (Komnas) for Women. Meanwhile, the other floors that caught fire were used by the Bung Karno Foundation and its parties. |
@goodapple 14770 - maybe not - if the short circuit that apparently caused it had anything to do with SRT kit or installation :(
Fingers crossed. |
And in other news: it seems there has been a fire in Bakamla's HQ.
Replacement kit required? |
C5: The only dividends from SRT that I have managed over the past decade or so, took the form of several very nice cakes, a (vintage) jar of jam and an SRT ball pen.
A £ dividend would be very nice, then share buy backs later. |
Hopefully we'll get what we all appear to want. However, the evidence is that our UK shareholders are not interested in holding onto a company until it becomes large and certainly not interested in size, if it involves placings for working capital, even for signed contracts. |
YUMP. If the half dozen major shareholders collectively refuse to sell, the UK can have its own 'significantly sized tech. business'. I will only sell if MR T convinces me that it is the right thing to do.
I am anticipating vast amounts of cash at year end and the debate will be
A. Dividends. B. Share buy back. C Dividends + share buy backs. |
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