Srt Marine Systems Share Discussion Threads

[2vdm] 25/9/2017 08:00

I wonder if anyone is already interested in the new system?

[goodapple] 25/9/2017 08:00

More jam. The day after tomorrow.

[pugugly] 25/9/2017 07:59

bypooh- So U agree that if repaid early balance of 3 year interest due payable at the time - So if repaid after 1 year extra 19% payable + 0.5% of Principle OK.

Sounds as though could be a poison pill to me.

[bypooh] 25/9/2017 07:55

I don't see what is particularly difficult to understand about this:

'Each loan note may be repaid at any time within their three year term with a 0.5% redemption fee and annualised coupon of 9.5% payable on the outstanding amounts.'

Very cheap and flexible financing. Mr Hurd is to be congratuated.

[sivadnoj] 25/9/2017 07:49

Not clear whether 9.5% includes a premium for redemption within the 3 year term. Seems expensive give they are secured.

[fft] 25/9/2017 07:43

To me anyway, that is a surprise.

9.5% interest rate doesn't seem cheap. 2m issues already. still 750k outstanding for Barclays. Looks as though each tranche is repayable within 3 years, repayments are going to be steep when they start.

The satellites - presumably funded by the loan notes. Be interesting as more news comes out to see how the much this actually costs. Revenue starts with the first satellite or does it have to wait until all of them are up ?

Initial thought is that I would have preferred an Inmarsat or similar to have taken a strategic stake in SRT and provide the satellites.

[kimboy2] 25/9/2017 07:41

£10m @ 9.5% = £950k pa

What is the likely revenue from these sattelites?

[donemyhomework2] 25/9/2017 07:40

That's what it reads to me also.A rights issue would have been a lot cheaper be it dilutive and not hit the profit and loss.

[pugugly] 25/9/2017 07:40

Now buying own satellites:



I thoguth there was an oversupply of capacity on existing birds but maybe not the right type - What happens if a launch failure ?

[pugugly] 25/9/2017 07:37

If reading this correctly sounds expensive
"The loans will be secured and rank second to a senior secured term facility with Barclays Bank, under which £750,000 is currently outstanding. Each loan note may be repaid at any time within their three year term with a 0.5% redemption fee and annualised coupon of 9.5% payable on the outstanding amounts."



9.5% p/a for 3 years - If repaid early then 0.5% extra fee and coupon - Either my English is not up to understanding what it means or the rns is not clear - Any accountants able to advise ?

[extrader] 21/9/2017 13:06

Hi all,

I guess the US Navy - by switching AIS on - is counting on the 'watch' on other vessels being more awake than its own sailors.

Which reminds me....

ATB

[yump] 21/9/2017 12:42

That does seem a very odd announcement !

If its a high traffic area, then secrecy about location (was that the reason for it being off ? ) seems a bit irrelevant.

[goodapple] 21/9/2017 10:22

Yes that's a good idea..........Switch it on!

[piedro] 21/9/2017 09:49

FWIW,

CNO: U.S. Navy Warships Will Start Transmitting AIS
By MarEx 2017-09-20 21:36:37
Following scrutiny over two deadly collisions earlier this year, the U.S. Navy will increase manning levels on certain vessels and will require its warships to transmit AIS signals when transiting congested waters. ... ...

[yump] 21/9/2017 07:54

Ah that's better ! Passes the time while we're waiting...

[chizgreen68] 21/9/2017 07:23

One billion dollars, you say?

[yumyum] 20/9/2017 23:52

Yes, astralvision, that recurring revenue will be interesting. I hope they can achieve some !

The AIS marine space is a very interesting market. Constantly changing. I believe our management are up to speed and will achieve at least something very good. Superlative may have to wait. It would help if the shares were already at £1.50, have a cash raise and do the satellites as well. Glad that exactEarth have their huge satellite costs.

[astralvision] 20/9/2017 23:44

YUMYUMThanks for the reply, sounds reasonable.Talking of figures and all that, I fully expect to see a m.cap >£1bn.This is not really based on the current business, which is a prequel for the real action. That being quality and substantial recurring revenues from the supply of data. That, imo, is where this is all heading. It will take time to get there, I am patient.imo. No advice intended.

[yumyum] 20/9/2017 23:35

tracking of hjb1 at $5 per month would be affordable. hjb1-10000000 might need some better algorithms.

[yumyum] 20/9/2017 23:33

yump...400p !!!???? Are you joking ?

For a key player in such an amazing market I think a premium would be justified, surely? £10.00 per share has a certain ring. Those crazy defence companies would not really sneeze at a billion pounds. After a few share buybacks that would be about right.

[yumyum] 20/9/2017 23:27

yes, astralvision I am expecting them to be signed before March 31st 2018 and I expect them to then complete over 3 years, not longer, probably shorter.

[astralvision] 20/9/2017 23:22

revenue from those projects over the next few financial years.Hit the 'submit' button by mistake on last post, there doesn't seem to be an 'edit' facility on mobile devices.

[astralvision] 20/9/2017 23:20

YUMYUMIf I understand you correctly, you are looking for the 4 projects worth £60m to be signed up before the end of this financial year?Some of those projects are expected to take around 2 years to complete, so it would be reasonable to expect the

[yumyum] 20/9/2017 23:11

...and I believe in not too far from £60m contract orders before year ending 31st March 2018. Happy with £45m, unhappy with £15m.