 The situation vis-a-vis the US has got more complicated with the impending arrival of Trump. An excerpt from an article last week in The Economist:
[...]The Trump administration’;s position on the South China Sea will be shaped, too, by how it approaches the question of Taiwan. If America under Mr Trump decides to prioritise the defence of Taiwan, then the Philippines would become an asset rather than a liability. Last year President Joe Biden and Mr Marcos expanded a deal dating to 2014 to add four new sites concentrated in the north of the country, facing Taiwan. American access to the bases would be key to deterring a Chinese attempt to retake the self-governing island.
The Philippines will probably still have to trim its sails with Mr Trump back in power, however. In particular, it might need to curb its ambitious strategy to push back Chinese expansionism in its home waters. Since Mr Marcos moved into Malacañang Palace in Manila in June 2022, the Philippines has asserted its rights in the South China Sea more actively and more publicly than before. It has reinforced one outpost, a rusting ship run aground in 1999 at Second Thomas Shoal in the Spratlys, and sent ships to occupy other fishing grounds for the first time.
A tribunal in The Hague confirmed these rights in a ruling in 2016, but the Philippines’ efforts to secure them and the resulting Chinese response have raised tensions. On November 8th, Mr Marcos signed into law a bill outlining the Philippines’ maritime zones in keeping with the tribunal’s ruling. China quickly responded by drawing its own lines around Scarborough Shoal, an especially strategically important disputed feature west of Manila Bay. It sent out air and maritime patrols to stake its claim.
If these legal moves escalate into renewed confrontations on water, the first that Mr Trump hears from the Philippines might not be its offer to buy new weapons, but a call for help. In that case, he is unlikely to respond favourably. |
U.S. Transfers Surveillance Drone Boats to Philippine Military
"The next assistance package will include a significant investment in cyber readiness for the Philippine military to ensure that it can maintain command and control of its new unmanned assets ... " |
C5 - HL list the SRT meeting and enable you to vote on-line. On the accounts page, below the 'Messages' is 'Shareholder meetings' which will take you to a list of meetings relevant to your portfolio. This links you to a list of resolutions and your voting instructions can be given there. If your instruction has already been given it will be shown. |
It might take a day or two to filter down to SRT. |
Many thanks LaV. Fuller quote: "As leaders of proud maritime nations, we appreciate the importance of the blue economy. In response to Indonesia’s ambitions to scale up its fishing fleet, the UK outlined plans to support industry efforts to deliver innovative and sustainable high-end vessels, with an initial project under development. This will support jobs and growth in both countries, while harnessing UK financing technical expertise and green technology. We also shared our concern over illegal, unreported and unregulated fishing, and agreed to promote the conservation and sustainable use of ocean resources – in line with the UK-Indonesia Blue Planet Fund Country Plan. We further welcomed a partnership to strengthen the Indonesian Coast Guard’s maritime surveillance and intelligence systems to enhance maritime safety and environmental protection."
I imagine this will be the subject of an RNS in the morning?
Is it premature to think we may be close to being off to the races? And for those who still remember the jam (sitting for years on the back shelf of the larder) that it really isn't past its best-before date after all? |
Just on the subject of keeping SRT a UK business, I just noticed this:
"Jet2 plc, the Leisure Travel Group, today announces that its board of directors (the "Board") has amended the current "Permitted Maximum", being the maximum percentage of the Company's issued share capital that may be owned by non-UK nationals, from 45% to 49%."
So it appears that Articles can be set up and altered to help protect businesses. Unless Jet2 has some special permissions or requirements as a result of entering different countries by plane. |
It's not the first time there has been a joint statement between Indonesia and the UK. There was one that Liz Truss was involved with in April 2022. Unlike the 2022 statement today's is much more comprehensive and quite clearly points to SRT's involvement. |
And
'We welcome the MoUs and other agreements signed between our governments today, and the associated deals reached between our businesses.' |
Part of joint statement today. UK and Indonesia.
We further welcomed a partnership to strengthen the Indonesian Coast Guard’s maritime surveillance and intelligence systems to enhance maritime safety and environmental protection. |
I have sent the following secure message to Hargreaves Lansdown:-
Good morning,
SRT Marine is having an EGM on December 2nd at 11 am. I am requesting that Hargreaves Lansdown vote on behalf of all the SRT Marine shares held in my name. Please can you vote in favour of the resolutions, on behalf of all of my shares?
Please can you confirm that you have issued the necessary instruction?
Kind regards |
I wrote to the company Secretary about the forthcoming EGM.
Below is his reply. The proxy card did not copy.
The bottom line is that there are only seven days until the votes need to be in.
Seven days to secure the future of the company.
I am with Hargreaves Lansdown and will communicate by secure email. I will be requesting that they vote on my behalf regarding the resolutions.
.................................................................................
REPLY
Attached is a copy of the shareholder circular which can be found in the investors section of our website. The resolutions are found on page 23 and 24. Below is an extract from a proxy card which also show the various resolutions, with the deadline being 11am on the 28th November. There is the opportunity to vote by post or online.
I suggest you get in touch with Hargreaves Lansdown to ensure they register your votes.
Kind regards
Richard
Richard Hurd
Chief Financial Officer
SRT Marine Systems plc
Wireless House
Westfield Industrial Estate
Midsomer Norton
Bath
BA3 4BS
United Kingdom |
If Saudi Arabia wants to keep up with neighbouring Kuwait with MDA, it will need to spend many, many barrels of oil to keep up. Four times as much as Kuwait? How will Saudi EGO feel if Kuwait moves forward to the next stage of MDA spend? I imagine that LAV will locate the joint communique re Indonesia, when it is announced. If it mentions SRT, there will have to be a RNS. |
Super
It is on SRT's website
I think you may have missed my irony. |
off topic-znt ready to take off not many shares only 38.69m shares in issue a share to get inearly 2 director buys last week ready to blow deal done |
Very low key visit by Prabowo. Arrived in Stansted this morning and no mention at all of his visit in the UK press. There was something a couple of weeks ago from the Timor government-in-exile, but otherwise seemingly no protests.
Another bigger project is to be financed by UKEF for that well-known British company Airbus. I imagine it will be recast as Surrey Satellite. There is a third pending as well. All told, I would not be surprised at all if these are signed tomorrow, despite the media blackout.
He is due for talks with Starmer and Rayner, maybe through the back door of No 10, as well as to see the King. |
LV - I'm damned if I can find these motions on the website - do you have a link? Assuming you're correct, I think it far more likely that OI want to limit share issues so that if SRT need more cash, they have to come to them for it. It's a bit like a boa constrictor - it doesn't squeeze its victims to death, it merely prevents them from expanding their lungs, as for instance when they want to breathe in...
One thing you can be certain of is that they couldn't care less about any shareholders other than themselves, except perhaps insofar as they might be able to block their own plans. |
Well I don't consider that I've been shafted. I knew what I was buying and the idea that any business can fund big contracts on hot air is just naieve.
Surely if multiple contracts come in the next few years, only being allowed to issue 1.2% of the existing equity pretty much ensures the only option for working capital is debt, or being taken over.
SRT makes a huge contrast to all the other AIM stocks issuing shares over years and years, with no significant contracts, no particularly unique business and just a load of RNS puff about disruption, while consistently losing millions each year.
Possibly consider yourself "shafted" if you've lost most of your money with any of them. I have on two. More fool me as its self-shafting really. |
Probably making sure they aren't the ones who get shafted. |
I had a look at the motions proposed for consideration at the upcoming general meeting.
It seems apparent that the new blocking minority shareholder intends to severely restrict the number of shares the directors can issue to about 1.2% of the enlarged share capital (there is a further resolution to allow them to dispply pre-emption rights on those), presumably to allow for the exercise of options and so forth.
Wonderful to see such a trusting attitude from the new shareholder, but at least, somewhat belatedly, they are sticking up for the little guy and don't intend for us to get shafted again. |
New gallery pics from METS |
Yes goodapple, if you search for X100 on the Em-Trak web site, you are shown a picture of the I100 (small boat transponder), clicking on this takes you to the X100 page. I have messaged MSN to alert them to the faulty link.
I agree about lack of price being odd. One dealer is quoting around 1800 Euros but I have not found any others.
Alec Buchness is posting about Nexus at METS on Linkedin under the title of VP Sales Americas Em Trak Marine but I can't find any dealer in the USA advertising the device. |
Google 'Em-trak X100' and you will see details of the new Nexus, with an option to pre order for delivery February 2025. I would be unlikely to commit without seeing what is the price!
Google 'Em-trak' and you will arrive at the rather stale and clunky everyday website -
which makes no reference at all to the X100, its new flagship product.
It all seems very ill-prepared for this most important stage of the Nexus project.
I expected better and hope somebody at MSN is alert to this. |
Meantime one more contract to be announced in next weeks. I wonder how many will actually start in Nov or Dec. All four ?
And Mets conference rocks along. Let's get past 50p into the 60s. |
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