Srt Marine Systems Share Discussion Threads

[billbyrne] 31/1/2018 17:29

Hi goodapple,

I know you've been here a good while, there are quite a few long term holders here.
Lets hope the patience pays off.

[astralvision] 31/1/2018 17:17

BillbyrneThe growing baseline business kicked in £2.9m at the halfway stage, losing £1.7m. To be fair, those losses include all the monies spent on project work in that period but with no project income.So the core business clearly helps, but without substantial dollops of project revenue this year will be way short of forecasts. There is the M. East project in which revenues will be earnt this half, forgotten what the forecasts are for this year, £15m?That looks a massive stretch to me.But we will just have to wait and see.

[goodapple] 31/1/2018 17:10

Me too billbyrne.

[billbyrne] 31/1/2018 17:07

astralvision/hjb1

Been in these a long time so I am well aware of past performance, I thought it worth posting just to highlight this part.

However it seems that it is forgotten that we have a growing baseline business.

We will have to wait and see if its growing fast enough to make this years forecast.

[clarkey26] 31/1/2018 16:44

Assume this is one seller offloading or 'trading update' i.e. warning of missed y/e targets, for that I assume they will have to explain knowledge of delay, fall through of one or some of the promised contracts. Alternative could be equity raise. You would have to say if it is not one seller just throwing in towel then looks like leak if RNS turns up after hours or tomorrow.

I get the frustration and I must say gone from being impressed about the openness of the company to what appears to be a failure to be realistic. I am very much still holding based on email from ST re delay and expectation on the previous large contract coming back in, but starting to feel like a more of a gamble now. Need to be proved wrong or agree ST needs to consider position I.e. take bit more of a back seat role, especially re communications

[billbyrne] 31/1/2018 16:40

I had email correspondence with ST about something else but mentioned the trading situation, this was his reply dated 11th Jan. I'm sure he won't mind me copying it here.


I appreciate the angst of shareholders in regards to ‎lack of major news. However it seems that it is forgotten that we have a growing baseline business and AIM rules are clear that we would need to make an announcement if we are to miss market forecasts. I'm very happy where we are.

[jimpubes] 31/1/2018 16:40

Lets hope it doesn't "take for ever".

I started buying these in May 2016.
Still watching and waiting for the “jam” and swinging between optimism and pessimism.

I agree that LaValmy has not pumped and dumped, I think his views were honest. But he was one of the biggest bulls for this company and was a self-proclaimed holder for some years. In November 2016 his view was that it would be £1.50 by end of 2017. Well here we are. Well not LaValmy it looks like he had a change of heart and reduced his holding. Of course I don’t lay any blame on LaValmy, we each make our own decisions. It is possible he reduced his holding due to changes to his private circumstances. Nonetheless one of the biggest bulls for SRT has vanished.

On the negative side - none of the promised big contracts has materialized.
On the positive side – none of the target contracts appears to have gone to a different bidder.
So SRT has not won any, but at least they have not definitely lost any.

Again I suppose the decision on the satellites could be spun to suggest a high level of confidence by the management. But on the other hand the loans undertaken has increased the risk factor associated with the shares.

Is the SRT product really world beating?
I am not technical enough to judge, there are certainly many other competing products out there.

So it is looking like a “story” share. A good story and a pot of jam at the end of the rainbow.
Even the big Indonesia contract was not won by SRT, they were merely a sub-contractor.
Currently SRT are going backwards. I will hold on for a while longer.

I have been reading this board for 2 years. I would like to thank everyone who contributes. A mix of viewpoints hopefully helps to maintain a balance between the optimism and the pessimism.

[yump] 31/1/2018 16:38

I'm still stunned by the idea of the Brexiteers that it will produce great opportunities to deal with other parts of the world more.

Given how long these contracts are taking and how long SRT have been proving the product to these other parts of the world, I dread to think how long brand new Brexit-prompted approaches to these countries will fare...

At this rate they will all need the same sort of long term support that the German banks give to their businesses.

[astralvision] 31/1/2018 15:47

The directors do not milk it here, they are paid a relatively modest amount and it's my perception they are a hard working and honest bunch.LaValmy has not 'pumped and dumped', you simply cannot perform that operation with that amount of shares in a small cap company like SRT.The directors have always made themselves available and have never shirked anything.The problem, imo, is they have been guilty of being too optimistic on time frames, despite saying how closely they work with the customer. The customer being governments and agencies who can take for ever to make a decision. India anyone?Whether SRT can ever achieve 'critical mass' of several projects running side by side instead of sweating on signing the next big deal is hard to say. This is yet another year where they haven't achieved it. It does call into question whether they really have a sustainable business model.A revenue/profits warning looks inevitable , but it's going to take more than one decent big contract to tempt investors back in. Even at 20p this would have a market cap of £25m, that would look high enough with all the promise of the 'jam' to come.Perhaps a drastic rethink is called for with SRT, I'm not sure where they go from here, a trade sale may be the best way forwards for everyone.

[goodapple] 31/1/2018 14:03

So when's the Chairman going to get his wallet out?

[pugugly] 31/1/2018 13:55

22 month intraday BREAKOUT DOWN. Looks as though - if closes below 30p (mid) then support may have evaporated - Chartwise next support appears to be in the region of 20p another 33% downside. BUT if contract announced, like Modern Water recently, then 30p unlikely to be seen again - Pays your dosh - take a card - Bets ??

[hjb1] 31/1/2018 10:45

Laval, has pumped and dumped chaps, get over it!! Looking like missing forecast by a country mile here it seems, be lucky to do £10m, nay £8m...disaster coming, sub 25p coming soon, again!!!!
Jam anyone..lol!

[effortless cool] 31/1/2018 10:35

No, I don't misunderstand. But given the length of time that has passed and the news flow in the interim, he is clearly not "inside" in the meaning you intend. My reference to prison was intended to be jocular, rather than to suggest something untoward.

[kinbasket] 30/1/2018 21:52

Maybe you misunderstand. I thought perhaps he had asked to be taken inside for whatever reason. People do it. It happens.

He was at the 2016 AGM but AFAIAA didn't make the 2017 one.

It's possible the small issues of shares for options since his declaration have pushed him back below 3%. In which case there should probably have been a notification.

The fact that he's disappeared from here, didn't come to the AGM and hasn't made a notification suggests maybe we shouldn't be speculating too much further. And certainly not suggesting anything untoward.

[effortless cool] 30/1/2018 15:49

There was not.

[fft] 30/1/2018 15:46

Was there an RNS for la valmy reducing below 3% ? The SRT website does not include him in significant shareholders (I.e. over 3%).

[effortless cool] 30/1/2018 15:23

kinbasket - "LaV is still a declared holder. Maybe inside".

I presume you mean in prison, since he can't have been sitting on inside information for a year?!

[extrader] 30/1/2018 14:11

Hi all,

This is what La vValmy had to say mid 2016 :

....More prosaically, I was looking to add more today which would have breached the 3% limit. Not that the sofa money has showed up yet, but that I just want to get the TR1 out of the way. I only need 3 shares, but didn't want punters to get the idea that whoever was pushing prices up today was some new large purchaser. I will probably buy my three shares on a calm day, and then add on the dips.

You will know it is me, because the notification will be from the La Valmy Trust, and it would be too much of a coincidence!

Followed by an 'over 3%' RNS on 2 Aug 2016.

ATB