Lav. Thanks for info. SRT will stay below radar for institutions until the brokers note comes out after start of Indonesia and next stage Saudi. Bahrain is relatively small.
Hopefully note will give guidance on debt repayment and anticipated cash balance at year end. Kuwait will probably require cash to purchase kit, although SRT is now going to be a major player and will be able to extract good credit terms for CCTV and radar. An institution will struggle to get a foothold by spending £5 million. Likewise if company decides on a buy back... large shareholdings are tightly held. Investors Chronicle comes out Friday. |
AE
Most have been advertised for a while, except the Kuwait and Indonesian one. The Product Owner is the app specialist that I mentioned the other day. The Indonesian one is a replacement. |
re LaV's 14798, it seems there are quite a few vacancies being pursued. Might be replacements in some cases but probably not in others.
see |
LaV, this year could be my first AGM!
Hope to see you all there 😊👍 |
$420 million over two years does sound rather a lot, compared to what we are used to. Maybe $150 million this FY, $200 million next, $50 million thereafter, or something like that. That leaves almost two years for anything else to crystallize from any others, PCG and the like.
And then the potential of Nexus which, if it works as they hope and flies, should generate some excitement over the course of next calendar year.
I might even make the AGM if it is early December. |
Thank you Baynet. Quite exciting now. |
Hi AE
Nothing much to add to the indonesian bank signing it's word for word.
My second post relates to the Intersec Saudi Arabia 2024 1-3 October the video looks like SRT's kit and there are photos as well |
(With a rough translation pls for those of us who don't speak Arabic!) |
Hi Baynet, like LaV I am not a twitter user, could you summarise please? |
Baynet
I think the Bakamla news is very relevant, although the Bank of Indonesia will not be paying SRT. Santander will be. However, there must be a signing off from the Indonesian side for that to happen. I imagine that is why the Head of Project Management is involved. Bakamla is not very experienced in these matters and as mentioned previously this pèroject is almost three times their annual budget. BTW the Bank of Indonesia is the central bank.
Unfortunately I don't have Twitter. |
Also some interesting posts this morning from Saudi govt account @BG994
Video demo just posted |
Any significance to this and UKEF process posted on twitter this morning?
Official Indonesia Coast Guard (IDNCG)
@HumasBakamlaRI
Bakamla RI and Bank Indonesia officially signed the Document to Become a Bank Indonesia Customer. The signing was carried out by the Head of Bakamla RI and the Executive Director of the Head of the Department of Project Management and Technology (DPPT) of Bank Indonesia, Herawanto. |
Yet more price sensitive information, I'm afraid.
They are now looking for a success manager for Kuwait, so it looks like C5's conjecture was well-founded. And, of course, it gives some indication of SRT's view of the project's imminence. |
May 2023 share price broke through 60p following announcement of £140 million Indonesia contract which will hopefully be signed at last within the next fortnight, along with Saudi and Bahrain. This will be followed by brokers note detailing projected end of year large cash balances. This will be followed by Mid East contract of $200 million plus? contract. |
supernumerary - Agreed. |
pldazzle - I think it's also worth remembering that 'starting' is rather a flexible term for SRT. Are acquiring staff and components well ahead of signature 'starting'? I would say so, but I have the impression that every SRT contract operates that way to some extent.
Why investors/traders have taken it quite so seriously this time I don't know, but I can't help feeling that a certain amount of the rise is due to the very reliable 'buy on the webcast, sell on the outcome' pattern that's been established here. Maybe the oscillations are just getting bigger?
Meanwhile, I'm happy with the price, and just as happy to wait and see what actually transpires. |
Looks like someone sitting on the floor on extreme right of photo. Are the chairs that uncomfortable? |
Bakamla back up and running after fire |
I’m prepared to count my chickens now. Was given some nice glass brewing flasks last Christmas, but they’ve now been reserved for jam.
Goodness knows, most of my other AIM shares are not exactly showing any life, so by the law of averages, a great one is overdue. Although there is no law of averages of course. Perhaps thats the mantra that tricks us all into investing. |
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. |
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