Westminster Share Discussion Threads

[graham1ty] 20/3/2018 07:18

So, what happens today ? It really cannot be Muscat. It has been suggested that confidentiality would mean WSG could keep have the contract, but be allowed to keep it secret ( just as they have never actually named Lungi). I am afraid something so price sensitive would have to be announced, whoever the client.

Or suggested that WSG are now slowly going to be phased in. After opening of the airport ? Come on ? And if that is the case, it would still be under the terms of a signed contract. WSG are not going to deploy massive numbers against a contract that might still not be signed.

So, up goes the cry, it does not matter that it is not Oman. It is still imminent. It is still about to be signed. Well, to that, I say phooey. After a two year wait from the MOU, and coming up to two year wait from the LOI, can we take them seriously in any way ? The client needs it yesterday ( but does not sign for two years), it is urgent ( or maybe not), the last hurdles have been crossed ( but that was months ago).

So, will the bulls manage to hold the price up, or will there be an inevitable sell off ?

[yasharsad] 19/3/2018 17:58

WSG has notoriously been bad in updating the market. They let shareholders suffer and then they post an update to buy more time. Lets hope update comes soon.

[graham1ty] 19/3/2018 17:41

About to launch the biggest contract in the world, ever, and on their website as I write:

“There are no vacancies at this time”.

[youkme] 19/3/2018 16:21

Quote from RNS August 2013 just as an example

"Regarding the potential international airport project in East Africa, following several months of detailed discussions with the airports authority and ministries concerned, I am pleased to report that Westminster have now been formally invited to commence final contract negotiations by the end August 2013. As ever, there can be no certainty as to the length, timing or eventual outcome of this or our various other discussions and negotiations although we are extremely encouraged by the progress our aviation division is making."

Good init

[graham1ty] 19/3/2018 08:20

Muscat opens tomorrow. And we are meant to believe that WSG still do not know if they have got to set the alarm, shave, don the uniform, and turn up at crack of dawn tomorrow. Operations start, so, by tomorrow, 500-1000 security staff have got to move to WSG employment, presumably learn the name of their new employer for the first time ( or there would have been a leak by now), meet their new bosses, line managers etc, learn new operations manual, agree new rostas.....all today.

The airport itself only learns today who they will be dealing with tomorrow. Ditto all the airlines, who presumably have to be happy that it is WSG.

WSG itself will need a massive injection of working capital to run this contract. Which is not yet in place. I had always thought if you were worried about the finances of WSG ( which are pretty dodgy) that you would demand a performance bond...and that is not in place.

All to be done today. Yeah, yeah, yeah.

I always thought it would be easier just to drive to Banbury and see if PFs Rolls Royce is in the car park. Or call up, pretending to be his dentist, and ask to be put through. If he is in Banbury today, that rules out Muscat.

[kipper1960] 16/3/2018 16:36

1 million shares bought in 4 orders of 250k each - so possibly the same buyer. If so, they must be very confident that the OMAN contract is about to be confirmed.

[broncowarrior] 16/3/2018 15:53

Graham, you cannot say a delay starts from the minute the MOU is signed.

It is delayed when any expectations on timing are given and then not hit.

[lodgeview] 16/3/2018 13:58

She's about to blow!

[lodgeview] 16/3/2018 09:12

Don't mind when it lands. When it does expect 200 percent in a couple of days.

[harleymaxwell] 16/3/2018 08:30

Couple of big buys

[pjj71] 16/3/2018 07:26

Which comes first the contract or Christmas??? see this going back to 12p with this uncertainty!!!

[graham1ty] 16/3/2018 07:11

Youkme, this is Security, so we will probably never know. WSG have probably been running Heathrow for the last five years, but been unable to tell us. They already provide pilots and jugglers at Muscat, so security will be an easy add on.

They have also just won the Border contract for the Great Wall of China, to keep out the Mongol hordes

They are also pleased to announce they have been asked to provide iceberg warning systems for a large vessel in an undisclosed location

[graham1ty] 15/3/2018 17:27

Kreature, slowly moving yr way. Well done.

The time frame for it to be Muscat is closing rapidly......

[daicaprice] 13/3/2018 15:32

All gone a bit quiet again and slipped off my fav list, got a gut feeling News this week.

DC

[youkme] 12/3/2018 12:40

Interesting article

hxxps://www.sharesoc.org/blog/regulations-and-law/beaufort-regulators-us-prosecutors-expose-wide-ranging-scam/

[graham1ty] 12/3/2018 12:35

Every single MOU has been exaggerated.

East Africa MOU, Nov 2012, delay 64 months
Asia MOU, Feb 2015, delay 37 months
"New country" MOU, Oct 2015, delay 29 months
East Africa 2 MOU, Dec 2015, delay 27 months
MIddle east 1 MOU, JAn 2016, delay 26 months
Border project MOU, Feb 2016, delay 25 months
Middle East 2, MOU and LOI, March 2016, delay 24 months

That "adds up" to 232 months of aggregate delays, or almost 20 years wait !!

Just shows that the MOUs are meaningless, unenforceable, and give no guidance at all as to likelihood or timing of receiving any contract at all.

[threeputt] 12/3/2018 12:33

Kreature, you should advertise your short on the lse bb that would go down a treat !

[graham1ty] 12/3/2018 12:31

Kreature, I did mean you to have every luck. I just said it was ballsy ! I think you will be right.

Re EA, that was awarded in November 2012 and they claimed they had signed Heads of Terms. Can they really expect us to believe that is still alive ?

[kreature] 12/3/2018 12:18

any news on the 2013 EA contracts ? or whenever it was? My Short position is looking promising - I note that no-one wished me luck with that. ATB

[youkme] 10/3/2018 08:44

Doesn't matter as long as the select rampers keeping making money.

[graham1ty] 09/3/2018 20:35

Does anyone remember this from June 2015 ? WSG set out form targets for the rest of that year. This is direct from an RNS dated 30 June 2015. My comments are in [....] at the end of each section

“The Group has the following targets for the rest of the year:

· Commence commercial operations for the ferry service, building on the momentum of the post Ebola recovery and increasing passenger volumes. [ well, we know what happened there and it has cost them £2-3m]

· Sign a further airport managed services contract as well as growing and progressing the sales pipeline.[ Well, NO, NO, NO. Nothing that year, or 2016, or 2017, or so far 2018]

· Technology Division to deliver substantial amount of the order backlog and win further new large deals as well as growing run rate business. We are targeting commencing 2016 with a substantial order book which will improve visibility on revenues.[ technology revenue is lower than 5 years ago when it was £6.3m. Now it is £1.6m]

· Win business in the Americas directly and through franchise partners; continue to build stronger links with governments, UK Export Finance, UK Trade and Industry and others. [ Er NO]

· Use cash flows from customer contracts to reduce the remaining £1.4m of convertible loan note from Darwin Strategic where prudent to do so, to best manage dilution.” [ there was no cash flow from customer contracts, hence endless fundraisings][ oh, and avoid dilution ??? In 2015 there were 56m shares in Issue.....now ? 125m....]

So, five targets set. Every one of them missed.