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Churning up started with the increase in trades? Looks more positive but I do not hv L2
... that was recently launched and should have sorted within the past 3 or 4 weeks.
GOVERNMENT has given an assurance that there will be no job losses at the Ghana Ports & Harbours Authority (GPHA) as a result of the Meridian Ports Services (MPS) concession agreement.
A statement issued on 28th June, this year, and signed by Kwaku Ofori Asiamah, Minister of Transport, who was reacting to some concerns raised by the GPHA on the commencement of MPS operations at the port, made this known.
It said President Akufo-Addo had listened to the issues raised by the GPHA workers led by the Maritime and Dock Workers Union (MDWU) and the Trades Union Congress (TUC) and had pledged to ensure that there are no job losses at GPHA as a result of the MPS concession agreement.
The statement also said the President’s stance was in conformity to his commitment to promote economic prosperity, while maintaining socio-industrial harmony at Ghana’s ports.
It further noted that the President held a meeting with stakeholders of MPS and obtained their commitment to engage GPHA to ensure adequate revenue generation and job retention on the part of GPHA.
“While pursuing the desired solution, operations in Terminal 3 shall commence with existing tariffs, while GPHA goes through due process with relevant stakeholders for any tariff increase. All parties are, therefore, committed to the successful opening and smooth operations of Terminal 3,” it stressed.
In April this year, staff of GPHA began red attire protests against some unfavourable clauses in the authority’s port expansion agreement with MPS.
They feared the MPS concession would lead to loss of about 4,000 direct and 1,500 indirect jobs because MPS was preparing to start full operations of the first phase of the project in June 2019.
Cheers big ears :)
Mmmm can’t understand why that won’t open , the attached is a paper reporting on the same statement ...
I think the next time we get a meaningful update will either be Christmas Eve - when PF often likes to send a teaser to the markets - or the January trading update.
At some point he will have to disclose the income to the markets.
Let’s hope it’s not next May’s end of year results...
Any chance of a cut n paste pls big ears I can’t open the link. Cheers
I suspect it was more delight that he had what he needed to get nominal+, ie Letter if Intent, to get placing away.
I wager MPS intended to railroad the contract home sticking two fingers up to GPHA in the process ,as I suspect they are legally entitled........it was the ministry of transport who blindsided MPS and Fowler with their missive late June .....
Just doesn’t make sense as to why PF stuck his head above the parapet and did those 2 interviews. If 30 days was a smokescreen why not just hide behind the RNS as per usual? His beaming little face couldn’t contain its delight that he’d finally landed a deal?!
If Ghana is subject to MPS resolving a politically sensitive dispute that has rumbled on for years and involves government probes and intervention - that is not “finalising”. That negotiating/arbitration.
And it’s increasing clear after three attempts, that WSG don’t have a clue about timescale for resolution.
Have him press PF. See if he confirms or evades. Boom.
I think there’s been quite a lot in WSG’s RNS’s, that looks, in hindsight, somewhere between wishful *******s and warped half truths. Why anyone would take any of it as gospel is beyond me.
I remember variously pressing TC, PF and IS on progress and being told to see what comes in the next update/interims, the inference being that it would be pleasing. My reaction. It doesn’t matter if it pleasing - if it doesn’t happen. So what’s the point in reading them.
Same with AGM attendance.
Still holds true.
Jimzi, I totally agree with H&N sentiment here...……. there has been no announcement to say that the Q3 payment was made [as anticipated in the Aug update], and as we do not know what shortly afterwards means I could let that one go [for now]...………. however "in Q3 2019" IS BEFORE THE 30th SEPTEMBER, so if you are presuming that silence is and always should be seen as confirmation that the payment was received then quite frankly with Peters history you are quite mad...…….. so has anybody asked PF if the payment has been received and did he say it has been...….....equally if the next payment "shortly afterwards" has also been received then why doesn't the f00k3r just tell us for gods sake, I have never known any CEO who has to be beaten to near death to give out information that will help the SHS know what is going on or that timelines are being met...……….."oh...… yes..... forgot to say...……… we are being paid on account" as though it doesn't really matter!!!...jesus wept.....………… the guy is a complete moron......…...………...rant nearly over ……...B
'Following the fundraising on 25 July we have been able to immediately commence production and expect to complete the first installation on schedule in Q3 2019 and the second installation shortly afterwards, subject to any unforeseen delays.'
One in Q3, one in Q4. Though the one in Q3 might be fully installed so full payment may have been received by now. Could well have had $1.74 million for the first one as it should have not only been delivered but installed by now........and hopefully the second one has been built/shipped....but we do not know that yet. They might let us know one day!!
Can we have a collective pact that someone asks PF at the next AGM when we received the money, Q3 or Q4...that way we can have an end to this.
in the mean time i resort to my usual argument which is that PF isn't telling us anything because he doesn't benefit from telling us anything....which to me tells me he's not looking to raise...so i'm happy.
we all know that he prioritises the employees over the owners of the company....Corbyn would be pleased.....(well, that is until this get's taken out at £5 a share and PF jogs off to Monaco to avoid tax) - so he's not going to share unless he has to
We didn't get the £2.8million in Q3.....!
If you have enough money to punt on AIMers, then you should have enough nouse to understand basic business and legal principals.
If you don't think we have a form of contract - great. If you can't understand or be bothered to find out what LCs are great again.
I was astounded how so many posters just couldn't get their head round we were receiving the 2.8m in Q3 and even tried to tell me I was wrong and where did it say that - when it was sitting in the bleeding RNSs.
Payments on account mean you have an account with means you have an agreement, such agreement determining the amount paid on account.
The final contract awaits resolution of stuff that we all know about as it on the web.
If we get a 35 yr rr, collective amensia will break out
Someone has sold up today - its a market , get over it.!
I say gets signed, I mean erm wins in the interim :)
This is my biggest issue Jimzi. Why not share some love on the interim contract. PF has always shouted from the rooftops over the size of the MSC deals, yet the one he actually gets signed he gives us nothing.
AIM I don't think Peter is taking the risk here, the shareholders always are, he doesn't care about his reputation so it is even more frustrating that the BoD keep us in the dark when we are coming to yearly lows again..……… They allegedly knew what they were doing when they bought the SQ, that turned to custard and now we are Port scanning experts and have no contract but are being paid, against what tariff?, they must have agreed to be paid against something …. totally agree with BigEars that the big boys [Smiths etc] don't play where it takes 4 years to go from MOU to contract award...…... and equally WSG are not be able to win anything worth while in the UK where they have no pedigree or experience.... they advertise a mighty good list of blue chip clients and governments, but yet sit at an MC of £13M...….. doesn't feel as though they sell a lot to these cash rich clients in a world of increasing security demands.... why is that Peter?...…….and yes this does feel like a wildcat that could transform the company...…. but nearly getting contracts over the line doesn't move share prices north...........as we can clearly see........B
We have a contract - its an interim one- otherwise no payments on account would be made. -[ on what account?]
From a company viewpoint there is no problem - all the angst is purely from a sp viewpoint. 2.8m cash last month, another 600k next month, more recurring income than we have ever had and we've; hired the bloke who sorted out the channel tunnel scanning - and SA is defo opening up aka aramco listing today.
Moan away gents