Srt Marine Systems Share Discussion Threads

[goodapple] 17/4/2020 16:49

I think SRT's record of astute moves within the AIS world is worthy of recognition and even though the road has been long and bumpy, this little company has steered itself well. The recent successful fundraise gives reassurance that the company has support.
The increasingly diverse functionality of AIS has been long recognised by those at MSN and the broadening of SRT's description of the business reflects the avenues they are exploiting.
I'm sticking with it. Better times ahead.

[yumyum] 17/4/2020 16:16

Shorter is usually better.

[lavalmy] 17/4/2020 14:28

Has anyone else noticed that they have changed their description of themselves?

'the global provider of maritime surveillance, vessel tracking, monitoring, management and safety systems' and no longer merely 'the global provider of maritime surveillance, monitoring and management systems'.

[countryman5] 17/4/2020 12:56

Raymarine, using SRT kit, won the recent contract to supply the US coastguard. Other US 'blue lights' are expected to follow.

[pinkfoot2] 17/4/2020 12:46

I always thought Raymarine were just a marketing company not making any money?

[alter ego] 17/4/2020 11:38

I'm not sure how much Raymarine spend with SRT but it doesn't look like AIS is a big part of their business. Here is their complete product list. AIS is a subcategory of Multifunction displays. Many of these products are well outside SRT's current focus


www.raymarine.co.uk/marine-electronics.html

[yumyum] 17/4/2020 11:20

Sorry Countryman, I was not aware FLIR had put it up for sale.

[cliffpeat] 17/4/2020 11:17

That's interesting - I've always thought of FLIR as a possible acquirer of SRT.

Long ago they snapped up Raymarine and paid a few pence to shareholders even though the directors had "given up" on the company.

Their strategy then was to acquire "accretive" business units.

If it is a significant client of SRT then perhaps it would make a nice add-on channel to market beside Em-Trak.

Stick to the knitting - or - diversify (with all the challenges that would involve)?

[countryman5] 17/4/2020 11:08

FLIR has put it up for sale, but who will buy?

[yumyum] 17/4/2020 10:50

Raymarine is owned by FLIR.

[countryman5] 17/4/2020 10:27

Who will buy Raymarine? Consolidation in marine electronics?

[lavalmy] 17/4/2020 10:16

finncap are happy:

'We are confident that this funding is more than sufficient to enable SRT to maintain the required levels of development and deployment through the current period of restrictions. We maintain our forecasts and target price.'

Though they have suspended forecasts. Target price is 75p.

[9degrees] 17/4/2020 09:35

Barclays smart investor - have filled in "Transfer" in but still had to complete a transfer form and send off signed . Awaiting for transfer to be done . Hopefully today or Monday
!GLA

[yumyum] 17/4/2020 09:17

New shares were in my Pilling and Co account on Tuesday.

Well done SRT. Good work. Very reassuring. Can sit back and enjoy the ride.

[bigboy2020] 17/4/2020 08:59

I spoke to them last week and didn’t tell me anything about a transfer form and would be in my account same day. I again rang them yesterday. They said I need to fill out a transfer form which I done over the phone with them. They said will be in my
Account instantly. Still nothing.

[pinkfoot2] 17/4/2020 08:58

Getting the bank loan quickly is a great result-well done

[boadicea] 17/4/2020 08:52

Phoned HL this morning and they advised that I may need to complete a transfer form.
It looks too me that the shares are currently held by Jarvis but since I supplied my HL account details to PB I had expected that all would be automatic.
Anyone know the ropes here?

PS: Since phoned PB and they confirm that it should be automatic if correct details were supplied. They are chasing HL to accept the stock on behalf of clients but HL have not so far responded.

[goodapple] 17/4/2020 08:32

Nothing yet via HL.

[rubberduck104] 17/4/2020 08:25

Glad to see SRT has completed their fundraising.

However I subscribed for shares via Primary Bid last week and got my allocation but so far have not received the shares in my AJ Bell account.

Has anyone else received the shares they bought?

[eagle eye] 17/4/2020 08:14

Well done SRT for obtaining CBILS so promptly.
Now nicely cashed up, you can't do more than that in the current circumstances.

[alter ego] 17/4/2020 08:00

todays RNS

"On 7 April 2020, the Company announced that it had raised an aggregate of £2.8 million from investors. We can now announce that the Company has agreed an additional £2.5 million loan facility provided by its main bank, bringing the total raised to £5.3 million.
The bank loan is being provided with the support of the UK government Coronavirus Business Interruption Loan Scheme (CBILS) and as such is interest and fee free and repayable in one year."

[countryman5] 16/4/2020 21:19

Lav. Good Analysis

[lavalmy] 16/4/2020 17:46

I gave Thompson's article a cursory glance but unfortunately cannot regain access to it to be able to quote bits I found relevant. So the following relies solely on memory of that glance.

He seemed quite excited about the defensive nature of SRT, given the equity and debt raise and the CBIL loan. Most reports however about this CBIL scheme suggest that very few so far have actually convinced the banks to lend and there are calls for the government to guarantee 100% of the lending. I can see massive moral hazard here in that if they do go to 100%, the banks will find a way to repackage existing unguaranteed loans as new guaranteed ones. But as credits go, SRT is a good one. Firstly it has a pre-existing borrowing relationship with its bank. Secondly, they raised both equity and debt to deal with the situation, reinforcing the point that they will surely make to the bank that they don't expect to use the facility much if at all and if needs be they could tap those sources again.

And that leads to a further point which is that they genuinely don't expect to. Very little was raised compared to the prior recent fundraisings. And a glance at their Linkedin account strongly suggests that staff are all still there (I think there is one less member), working hard and not furloughed. So I take it that they really are expecting projects to commence.

So cash flows into SRT could well be quite strong. The £17 million from the Philippines this FY (less what goes to the partner - 40%) is pretty much free cash inflow. Thompson is expecting revenues from the systems business of £50 million or more. I think that is a bit high, but milestones on the Saudi contract will include the first high margin £14 million, the first bit of the Kuwait project will involve mainly the installation of kit already paid for by SRT and the payment by Kuwait of $5 million. Bahrain not so, but the other three taken together amount to some £20+ million of cash inflow to SRT with maybe £6 million or so of payments to make to the likes of Dell for the new Saudi contract.

I do rather believe that at the end of this financial year they might be in a position to declare and pay a maiden dividend. Say 1p per share, 4% on today's undisturbed price, £1.6 million pounds