Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Was there really no buys today, only sells?
Including £60k at 4:30?
The latest RNS looked like positive news. New strategic relationship with a significant Japanese customer…
From owenski elsewhere
SRT hired a sales person fairly recently to develop this side of the business, it's a tidy chunk for an order and suggests this 'new' vertical is starting.
SRT have said they see significant business for what used to be called the 'AtoN'.
They are also high margin sales units.
Finncap, meanwhile has stuck with its 100p target.
Nice little contract award from Japan today, but still SP turns negative. Just picked up a few at 51.7 pence but shown as sale and I suspect this applies t several other "sales" this morning too..
Got them at the end of July last year so hopefully only three or four weeks away. For me the most interesting part is the current trading update. Should be pretty positive This year. Hopefully this will help the share price to to increase Which will be very welcome!
Does anyone know when our shares are likely to be issued. I am with II but bought through primary bid linked to my II account. Many thanks and hopefully onwards and upwards
Looks like someone made £24k selling almost 700k shares after 5pm today for 53.5p - assuming they bought at 50p during the placing (which may not be the case of course)
It is difficult to tell how Primacy Bid allocates as I believe this is different for each issue as it probably laid down by the company selling the shares in this case SRT. Not always the company you buying the shares in as sometimes shares sold by the holder as can be seen from the recent London Stock Exchange issues.
If you own shares in the company you will be given priority and will probably depend on how many you own and the amount you applied for.
As a general rule the bigger the application the larger the scaling back.
I put in for 2 lots and got 30% overall, however I got the 2 repayments (usually get 1), one for the full amount subscribed and the other the difference between the payment and shares bought, this could be because the earlier application got priority as has been mentioned. My partner applied for 1/5 of my application and got 61% so one thing we do know in this case is the larger the application the larger the scaling back.
Not sure how primary bid works as I only got 20% of my request, when others seem to have a lot more. But I suppose I can’t complain too much as I picked up the rest at 51p this morning, on top of some below 50p yesterday.
Andy, I sympathise - that is one of the big down sides of Primary Bid; but offers like this where brokers are involved are usually OK. I use II & they were offering the PB offer via their accounts, so you could use ISA & SIPP.
Still not heard from them.
Unfortunately with primary bid you can't have the shares in your ISA or SIPP , I was fortunate to be able to buy a few thousand in the market at 50p to add to my ISA holding so am well pleased .
I got 50% of my requested allocation. I can't deny being a tad disappointed, but at the same time I'm glad to now own a small slice of the ever more exciting SRT pie.
Yes, msge @ 0812 from Primary Bid...get on to your broker!
ATB
Presumably you folk who already know how many shares you got in the retail offer applied & have heard directly from Primary Bid. I applied via my broker and still have not had the details.
As Voltaire said ' God is on the side of the big battalions'.
Mind you, he subsequently qualified this, by saying
'God isn't on the side of the big battalions, but on the side of those who shoot best'
I 'only' got 2/3rds of my requested (15%) allocation, which was more than I needed to offset the (6+%) dilution, so can't complain.
And , as it turns out, PI's could buy in the market at pretty much the same price, maybe a tad lower, if nimble.
Was a pity that the small investors got heavily scaled back while the institutions got all they wanted, as always the small guy loses out.
Oversubscribed by 3.5x, a great sign. Strong buying this morning. The stock is now massively derived. Whether you pay 50p in the placing or 55p post placing won't be of much significance once the price starts to climb towards 100p.
SRT Marine Systems (LON:SRT) – Sensible £3.95m Fund Raise To Boost Working Capital
This £97m global provider of integrated maritime surveillance systems and digital navigation safety transceivers has announced a £3.95m capital raise @ 50p a share – which looks totally sensible to me.
The raise price was at 50p, a near 14% discount to the closing price last Thursday night.
The company intends to use the net proceeds of the Fundraising to facilitate accelerated growth through provision of working capital for the company’s systems and transceivers divisions.
CEO Simon Tucker commented that:
“In the last few years, SRT has transformed its prospects as demonstrated by a 265% increase in revenues to £30m last year, a current forward contract order book of £160m, and a pipeline of new system contract prospects which has grown to £1.4bn from which we have also recently announced a further award notification. This fund raise is timed to support this acceleration of our business.”
Analysts Kimberley Carstens and Michael Hill at finnCap have a price objective of 100p out on the shares, almost double the current market price.
The analysts consider that with the profitability expected this year and next, there is plenty of room for upgrades as a track record continues to be established.
They are expecting the group to more than double its sales in this year to end March 2024 at £70.9m (£30.0m est), while adjusted pre-tax profits will explode from an estimated £1m loss in the 2023 year to an excellent £7.3m profit this year.
Looking further ahead for the 2025 year, £104.8m of sales are estimated by finnCap, the group’s broker, with profits leaping to £11.8m, taking earnings up to 6.2p.
The group’s customers include national security and safety agencies such as Coast Guards and national fishery agencies as well as individual vessel owners.
Its products and systems provide customers with enhanced maritime domain awareness in order to solve problems that include maritime and border security, illegal fishing, marine environment protection and navigation safety.
These shares at 51.20p, after the funding, are still very cheap and are certainly not for selling yet – we have had a good ride so far and there is obviously so much more to come.
Good news on the placing.
Last two day’s candlesticks on the price chart make a rare double hammer reversal pattern.
Seems to have good support at this level, which isn’t surprising given the issue price of the placement was 50p.
Wonder if there will be any new TR1s as a result of this latest funding round.
Glad to see the CEO is also buying shares at these levels.
They raised the full £750k through PrimaryBid so I guess they were oversubscribed. Very good news if true.
No comms from PrimaryBid yet which is frustrating, I want to know how much I've been allocated.
From RNS
"SRT Marine Systems plc (AIM: SRT), a global provider of integrated maritime surveillance systems and digital navigation safety transceivers ("SRT" or the "Company"), is pleased to announce the successful completion of the PrimaryBid Offer that was announced on 23 June 2023, which was heavily oversubscribed.
Following the successful completion of the non-pre-emptive Placing of 9,220,000 New Ordinary Shares which was announced on 23 June 2023, retail investors have subscribed via the PrimaryBid platform for a total of 1,500,000 New Ordinary Shares at an issue price of 50 pence per share, raising gross proceeds of £750,000.
Directors' participation
Simon Tucker, a Director, has subscribed for 100,000 New Ordinary Shares by way of the PrimaryBid Offer at the Issue Price raising gross proceeds of £50,000."
No mention how heavily oversubscribed or allocations but can see director bought some shares, a good sign. The SP should now start to recover but will take a little time to fully get back there as obviously there will be some who will take a quick profit including those in the placing.
Hi Sid - DYOR - just read their trading updates or view a pod cast. It's easy -
traditionally struggle to turn over £10m p.a., Realistic pipeline of over £1b.
The catalysts will be winning contracts.
My guess would be Nexus launch later in the year. Unless another good contract lands in the meantime.
Good company with good growth prospects.
Wondering whether in the short term the share price fills the 18 May gap between 46p-49p first though?
Looks like the last time a similar placement took place (10 March 2022) the share price consolidated sideways under 40p for about 10 months.
Anyone know what the next big catalysts for this company are likely to be?
SRT exceeded its 6.4m target for Placing, ending up with 9.22m, so seemingly lots of interest.
Retail Placing result to be reported Monday (per Primary Bid).
In theory, this suggests that the s/p should recover a bit next week.
IMO
Their RNS this evening says the retail offer closes on 26th, so you should be OK. I'm also with ii & had no problem. Presumably if they are oversubscribed they'll pro rata the shares accordingly (though it would be nice if they gave existing shareholders better treatment than any new ones)