Someone earlier was wondering about the likely availability of the retail shares at 35p. I’ve been buying around 40p on the guess that by the time it happens I won’t be able to get what I want at 35p and 5p is neither here nor there, if it all goes even vaguely to plan. |
Kuwait's First Deputy Prime Minister, Interior and Defense Minister Sheikh Fahad Yosuf Al-Sabah signed separate deals on Wednesday with the UAE and Britain as part of efforts to beef up the national coastguard's capabilities.
The agreements with Abu Dhabi and UK-based SRT Marine Systems meet the highest "maritime quality" standards, representing a step towards enhancing Kuwait's maritime security, according to an interior ministry statement.
The deals are part of a broad "overhaul" of the nation's maritime security apparatus, added the statement, singling out the agreement with Abu Dhabi as being a testament to the camaraderie shared between the two Gulf Arab neighbors.
The ministry is determined to employ the latest "technological means" in an effort to ensure the security of Kuwaiti territorial waters and navy personnel alike |
Well perhaps Kuwait has to announce first and then a typist has to type it and then someone has to approve it.
Just guessing ;-) |
And here is me checking for RNS... no sign but if true.. Fine! |
Why isn't there a RNS? |
Why isn't there a RNS? |
Yep, does look like it's been signed, SRT named/UK, coastguard upgrade. |
Crikey must be a lot of SRT shareholders looking as the website’s stalled. |
Is that announced somewhere? |
Where is the announcement? |
Kuwait officially signed. Congrats to ST and team. |
Yump
I agree but not with Srt which has had a long time to produce |
As the accounts would be full of red ink I think you're right Pinkfoot2. It has all hinged on this deal getting over the line and accounts prior to deal would have had a huge impact on share price and therefore the look of how stable the company is.
Buck581 I agree! Happy to take a few more at 35, and I got a few more the other day at 40.
It's a decent board this generally, thanks all for contributions and esp CM5 and Lav thanks for all the thoughtful and detailed posts. I've held for a very long time and this feels like the start of the curve to me, given the massive geo-political risks around the world, the new bigger partner in a complimentary field and the potentially 4 contracts due in short order (I know we've heard similar before). |
The accounts are probably ready to announce but the impact of funding / signing of Kuwait affects going concern statement, hence delay and Jan AGM. There might be news direct from Kuwait before RNS. The signing will be high profile. Will the UK ambassador be in attendance? However, I doubt if Airbus or Leonardo will be attending! It will be interesting to see if Ocean Infinity content is mentioned. |
Then it seems to me they don’t want to publish the accounts until after the deal announced is documented properly and possibly the contract win signed.
CM-what’s the view? |
Yeah that's what they said in March "The Company intends to publish audited final results for the 15 months ended 30 June 2024 during October 2024." |
I thought the accounts were being published in October? |
 May I suggest that you do research on Oliver Plunkett, the CEO of Ocean Infinity and the new NED at SRT? He is clearly bright and able. He was a criminal barrister at a London Chambers and has been building OI for seven years. He would also appear to have a social conscience.
Kuwait appears to be the first time that OI kit is being incorporated as a bolt on for a SRT contract. OI has more than 500 employees. SRT must hit the ground running in Kuwait. Is there merit for SRT to receive a secondment from OI of a key player? OI would learn more about the workings of SRT, or does SRT not wish to reveal all of its cards? How much will our new NED be told?
I suspect that Anthony Clake and Oliver Plunkett are formulating the ‘golden handcuffs’ for ST and the key players at SRT. They will have a time lapse and probably be made of paper! If OI reverses into SRT, the logic would be to award OI share options which can only be cashed after a certain period.
The risk is that a hostile bid from a third party arrives before OI is ready. |
I’ve never seen this board so gloomy. It seems that big contracts are a very bad thing !
What exactly is it that the gloomsters want ? |
The SRT take over conundrum reminds me of the impending US elections. There are about seven states that are relevant in seeking victory. There are about seven shareholders who will decide the outcome of SRT's future. |
The reality CM is OI have a grip on the company and not far off having a 25.1pc blocking right-not sure whether that is a good thing in your ‘bidding war’ analysis. |
The answer is obviously 'no'.
Although of course he would be inside, therefore couldn't share it with his colleagues, so it wouldn't do OI much good anyway :¬) |
Oliver Plunkett is our new NED and should be at the AGM in January. Interesting question. If the company receives a bid from a company, other than Ocean Infinity, is Oliver Plunkett kept in the dark? |
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