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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)
Went for further shares through primary bid this morning. I hold my shares with interactive investor. Just noticed that they emailed me this morning with offer and saying to complete how much I wish to apply for. When I try and enter any figure as a test it wont let me. Makes me wonder if offer now completed ?
I've taken the minimum - all I can afford really - and I don't see a huge amount of risk here. Given recent and anticipated orders it seems plausible that money for expanding staff and inventory is needed. I'd be surprised if we're not back to yesterdays price in fairly short order - after that I'm also optimistic of medium and long-term growth.
Per stockopedia, SRT currently doesn't have any II declarable holdings :
Robert Persey 28.7m 15.8%
David Brierwood 13.8m 7.62%
Jonathan Horne 8.3m 4.57%
Ian Lang 8.0m 4.42%
David Newlands 5.8m 3.22%
Simon Tucker 3.0m 1.64%
John Lobbenberg 1.1m 0.62%
Neil Peniket 1.1m 0.62%
Richard Hurd 0.6m 0.33%
Mark Shaw 0.2m 0.1%
Total 38.9%
It'll be interesting to see (a) if the 6.4m Placing shares are taken up by any II's this time and (b)whether/in which direction the above change their holdings.
They obviously know more than me....but on the available public info, I don't see this as distress funding and have taken part in the 1.5m Retail share offer, rounding my holding up a bit.
ATB
Hat tip to LaValmy
..."I have just seen the broker's note.
'In the absence of an equity raise, current debt facilities comfortably support peak net debt of £7.3m in the forecast horizon (1H25)...' They also intimate that the large Asian contract will be financed by the GEF and then loan notes programme if needed.
More interestingly, from the £380 million pipeline 'we include two projects worth £30m in FY25E forecasts which are expected to be announced soon. These contracts are part of a £150m Fisheries contract with an existing customer in South East Asia comprising of 5 projects in total.' All eyes on a resolution to the current issues and further developments on the BFAR's Imems project. EU Red Card in the offing?...."
NAI, DYOR etc etc
Short term a bit of a kicker. Longer term more institutional interest means a more active price and since this is trading at less than eight times 2025 earnings we should see strong uplift.
Thanks SoleBoy I did check and she said it hasn't been released yet it was the 20th Sept. I phoned The Centurion Best Western and they only had two rooms left for the 19th! So thanks again.
Hi
Sorry for slow reply don’t watch the board that much. I emailed Simon as he mentioned that date was on the website but I couldn’t find it. Unusually he didn’t reply so rather than bothering him again I just phoned the SRT office. Lady on end of phone checked her calendar and confirmed date. Suggest you ring again just to make 100% sure but she did seem certain.
Manipulation by rogues, thieves and vagabonds. ( the MM's )
Hi Soleboy,
I too want to attend but living in Cornwall I need to make travel arrangements. Can you confirm the date. The reason I didn't attend last year was because I got the date to late to make arrangements.
Where did you get confirmation of AGM date? There hasn't been an RNS about it.
Why the big drop today?
One day I’m going to register on Advfn. To answer the AGM question it’s on Wednesday 20/9. Unfortunately I’m away and will miss AGM for the first time in about 7 years. Shame it should be a celebration, one that’s been ‘imminent’ for quite a while
Note the issue date - Nov 2020 . Gives an idea of the lead times that SRT has to work with.....a pain, but also part of their 'moat'
Some background info
https://documents1.worldbank.org/curated/en/932271606249377198/pdf/Concept-Environmental-and-Social-Review-Summary-ESRS-Fisheries-and-Coastal-Resiliency-Project-P174137.pdf
HTH
Yes, milestone payments are lumpy and can distort annual figures but we now have some 4ish contracts with fixed dates and one ongoing. This means that with a bit of luck they will even out a little.
In addition the transponder business, much steadier, is growing at a significant rate and with the new distributers and new products will be more important addition to the annual revenue. In addition to that the ongoing data sales, which come into play at the end of the contract, will also have a steading income effect.
The format of SRT's business means very large chunks of income come from projects at specific times - it's not spread evenly across the year, so be careful not to get hung up on annual figures as they can be distorted significantly be the timing of invoices.
Hi Monty88, I hope you're right but w here will the plus £80K come from?
Aargh! Wrong board....s/b BUR.
Apols
Hat tip to Donald Pond
.."Jeffries have upped their tp from 1370 to 1820.."
I hope the revenue is lot higher than £80k?
Chart technical position, has broke 5 year high of 55 recently . Weekly and daily RSI, are both above bullish 50 level. Upper Bollinger band is heading up on weekly and daily timeframe. Lower Bollinger band is not falling , which is indicative of a not particularly fast price rise.
Hi SoleBoy and extrader, I think any takeover would have to be hostile and that would push the SP to extreme hights! However i would prefer to see how high the SP can go anyway!!
I first bought in March '17 and I don't think the company has put a foot wrong since. I did say previously I thought the revenue this year could hit £80K. Simon said in passing £70K - unlike him to be so pessimistic! It will of course depend on milestone payments on the big contract.
Hi all
In view of board chatter re possible sale, I asked Simon today
"What 'change of ownership' provisions or undertakings do SRT's contracts typically include?"
He came back -on a busy day- inside 2 hours with.....'None'.
Impressive!
GLA