Thanks, LaV.
EDIT: Going back through the RNS history, the contract award was actually announced exactly three years ago. At the time, they said that all three phases should be completed in two years.
"The award is for the first of three phases of a project worth a gross total of £40 million. The phases are scheduled to be implemented serially, one after the other, over a total period of two years".
Plus ca change. |
Effortless
It is Saudi. They signed the 'contract' yonks ago but were waiting on this NTP. Whatever documentation formalities there are will be detailed timing, serial numbers of equipment and suchlike not the actual contract. |
I've lost track - does anyone know what country this phase 2 contract relates to?
Regarding the timing of the announcement, the requirement appears to be triggered by receiving "formal notice to proceed". Quite why this would be received ahead of "final documentation formalities", I don't know, but I assume it gives a level of certainty to the contractual commitment that makes it price sensitive information requiring an RNS. |
I get your point Techno20 but for the sake of less than 4 weeks (due to be signed by end Jan) then doesn't seem much of a difference, apart from the AGM possibly happening before the signing/start date.
Maybe it's just a choice they've made to release the news as soon as it occurs, even if not fully completed. Seems to be fairly consistent over time. |
ST must tear his hair out reading the comments on here. Slated for not announcing deals, slated for announcing them. I for one appreciate the fact that SRT / ST tries to keep shareholders informed, even if ink isn’t on the contract. I’d far prefer that than radio silence. The fact that SRT worked over the break to release two RNS’s when most were still in their Christmas / new year stupor is also testament to the hard work the team puts in. Massive progress has been made in the last 12 months and the business looks set for a mammoth year ahead. SRT is turning into a global success story for the UK, so let’s focus on that! |
Positive but why does the company release this news prior to the contract actually being finalised? Is it for fear that the news makes it out via other means or just in a rush to release something positive? Seems like any delays in the finalisation process will impact them later on down the line news-wise. |
Yumyum - today's news may help in that regard
$320m forward order book too |
Late Oct SRT webcast ''...we are very focussed on those 4, and getting everything in place....as the start of those 4, ALL of them, start WELL before the end of the calendar year'' (my capitals for emphasis).
....now it seems there will be only two? started before Jan 1st, Nothing really changes with this company does it? Pathetic and embarrassing still. |
A little bit off topic but not too much ...
Port of Rio Grande Invests R$ 16.5 Million in New Navigation System
Jan, 02, 2025 Posted by Denise Vilera
An investment of R$ 16.5 million aims to integrate vessel traffic control at the Port of Rio Grande, one of Brazil’s key logistics hubs. Implementing the Vessel Traffic Service (VTS) system, led by the Rio Grande do Sul Maritime Local Productive Arrangement Association (APL) in partnership with Portos RS, seeks to enhance efficiency and safety in port operations. ... ...
Following on, I find that there is an English company who trains the operators {worldwide}
AFS Consultants specialise in the provision of high quality training to the maritime industry with an emphasis on all aspects of Port and IALA V103 Vessel Traffic Service (VTS) training.
About: Vessel Traffic Service (VTS)
Any relationship with SRT? |
Presumably just two of the contracts have started? Please advise. Anyone know? |
was it this one? (for Aerial Surveillance)
hxxps://ukdefencejournal.org.uk/uk-seeks-commercial-aerial-surveillance-for-maritime-security/
hxxps://bidstats.uk/tenders/2024/W38/831062190 |
NY Share tip Investor magazine suggests 60p then £1 !That would be nice |
Bahrain Intensifies Fight Against Illegal Fishing with Tech-Driven Surveillance | THE DAILY TRIBUNE | KINGDOM OF BAHRAIN
hxxps://www.newsofbahrain.com/bahrain/106776.html#:~:text=The%20Ministry%20of%20Oil%20and,practices%20in%20Bahrain's%20territorial%20waters. |
Hi CliffPeat. Not that one but I cannot quickly put my hand on a link to the contract awarded. |
@YUMYUM - Is this the contract to which you refer? It's a different target market and as far as I know not one pursued by SRT.
"QinetiQ has been awarded a £15 million contract by the UK Ministry of Defence to manage, maintain, and update the classified military data management system, Thundercloud,..."
"Commander Nick Davies from the Joint Operational Meteorology and Oceanography Centre (JOMOC) expressed satisfaction with the contract’s continuation.
“We are very pleased to award this ongoing contract to the QinetiQ team who have ably supported us for 24 years already, working collaboratively with us on what’s needed to deliver this key capability now and for the future,” he said in the press release." |
two contracts started, or three ? Kuwait, Saudi Arabia. Anyway it does not seem to be the four promised. I see UK awarded elswhere a marine security contract of £15m. |
Sorry yump, but if you really thought that, you wouldn't be here. Go and put another log on the fire, and open that second bottle... @¬)
Like me :¬) |
More importantly, a household debate - which way round should plates be put on the drainer for optimal drainage? Sloping concave side down or up? |
As far as I am aware, this time last year there was no mention of a Kuwait contract, and now there is a $213 million contract being delivered. Indonesia is still awaiting the final sign off after being announced in May 2023? This is not an easy work flow to manage. What countries are possibly in line for systems news? Countries with oil money have an advantage for an early start. Kuwait and Saudi have great potential for further near time spend, but there are also other M/E countries. Vietnam, Cambodia, Philippines (coast guard) Indonesia (fishing) Kenya, Tanzania and Mozambique are countries which will probably need help from the World bank or UKEF to allow them to have a SRT system. The reality is that there is an abundance of Countries which have a shoreline and need to know what is happening in their waters. It will be interesting to learn about the company headcount at the AGM and also to understand expansion plans. |
Just support and maintenance in that, super. With further contract upside from bells and whistles. |
That's nothing like enough to cope with the amount of change there'll be over that period - I'd expect to see another such contract every 2 or 3 years just to keep up with events. |
Thanks Lav |
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