Srt Marine Systems Takeover Rumours (SRT)

In a short time, this thread seems to have gone from looking forward to major contract signings and being confident that SRT hasn’t got any competitors tendering, plus looking to the future with multiple contracts, to doubts about everything. There have been many chances to get out, if anyone had got nervous about prospects or analysed the likely business requirements to fulfil contracts and didn’t like the look of it. I’ve had SRT shares since goodness knows when, but the details of OI’s shareholding, the placing etc etc hasn’t put my nose out of joint. Biggest disappointment would be an early takeover, but I don’t think that I deserve anything particular for holding such a long time. It was my choice. I’m not under any illusion that any company will put my personal wants before its own requirements to get the job done. If it turns out OK, this week will be forgotten quickly.

Anything world beating that we have will be subject to VC shareholdings and/or takeover in one form or another because we just don’t value it enough. You can tell that from the crazy push to get dividends from small growing companies, instead of reinvestment. Shame the UK can’t sell pen-pushing to the rest of the world.

It's beginning to feel like OI have already completed the takeover. I'm still waiting for my call to discuss my entitlement

This is a British treasure and the gov should declare it a national critical business or similar. The French and US have much stricter takeover rules than the UK. hTTps://www.pinsentmasons.com/out-law/news/new-french-law-offers-takeover-targets-more-defences-against-hostile-bids Unfortunately we are still “open to inward foreign investmentâ€￾, which sounds great but actually includes takeovers.

Am I right in thinking that there will be 262m shares in existence plus any extras if UKEF don't deliver in 8 months ? That's a lot more than when SRT was going to conquer the inland waterways. And why is UKEF taking so long ? Wasnt that a next month thing ?Share price 40p. mkt cap 100m plus. Have to pay back the OI loans, plus the Cayman island loans. And also assume cost over runs by the local contractors in the countries involved. Do the contracts also include a maintenance aspect over x years ? If so, that is good for the long term but needs to be deducted from short term contract value.Wonder how much profit, free cash flow and EPS are expected over the next few years. Everything will be lumpy, and will probably require a different level of mgmt so perhaps the best thing is a takeover once the 4 contracts have actually been started. Crystalize the gains.

What price for a takeover of SRT? I'm pretty sure C5 has commented on some significant individual shareholdings that would require assent to any offer. If you look up major shareholdings and directors holdings you should see the following: Simon Francis Rogers 13,508,900 12.00% Simon Richard Tucker 3,280,377 1.00% Jonathan Horne 7,740,100 3.52% MR IAN LAING & MRS CAROLINE LAING 7,700,000 6.03% La Valmy Trust 3,837,770 3.00% Mr and Mrs Persey 30,726,184 13.56% Mr & Mrs Brierwood 20,558,567 9.23% Ocean Infinity Group Limited 19,800,000 8.89% I cannot vouch for the absolute accuracy of this as it was compiled from two different sources (SRT and thisismoney) but it comes to 57.23% of the company. I don't see these shareholders happily selling out for anything less than their collective view of what SRT is worth and IMO that number doesn't start with a 1.

The current share price discounts: 1 - Bakamla Indonesia contract starting soon - It is all agreed but who knows when it starts. What seems clear to me is that it will start soon. All is now agreed. 2 - Kuwait contract starting soon - It is all agreed but needs full contract signing, which includes performance bond. Expected by end-November but company expectations history is a disgrace of no learning. New paradigm? We will see. 3.- Smallish ME contract starting sson 4.- Another smallish ME contract starting soon. Take away those discounts and the share price should much better represent the astoundingly low valuation here. Failure on more than one of the above will mean takeover at a very low price. Sadly but correctly. Just my opinion.