The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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So this is just lack of news, right? Right?
As you say no news as far as we know , but some chunky sells there . It's tempting to buy a few more at this price but too much experience of falling knives lately so I'll just continue to hold for now.
What the hell is going on with this, come on Mr Tucker, time for you to keep the small investors informed, not just the big boys so they can dump share ahead of bad news being announced.
Not good enough.
I've been invested here for some years now and the jam is still tomorrow !!
The only thing I can think of is the $180 Mill contract that was signed last May is now not progressing or at least in serious doubt. We've changed our year end to accommodate this so perhaps it a make or break deal that looks like breaking?
HTTps://malaya.com.ph/news_news/ex-bfar-officials-face-multiple-corruption-raps/
Goodapple, very well found. I've read it and am confused on a number of levels. Any clarification would be much appreciated,
What exactly are Graft charges?
"P2.1b" - Does P stand for pounds? Why not use £ which everyone understands. If not what does it stand for?
How come the BFAR folk who have been identified sound like Italians? That also applies to the BFAR man who has been cleared and the lawyer who raised the case.
I don't see how a British Company winning a contract rather than a French one is disadvantageous to the Government (assuming it is the British Government.)
It sounds like whoever is making the ruling assumes companies providing transceivers and maritime monitoring services are ten a penny and that The Philippines could have chosen a whole host of suppliers.
I see there being a lot of activity in the coming days, clarifying all this.
Sorry all, I thought I was reading a UK publication. Just noticed it's Malay, which clears some of my confusion.
Oh Dear indeed! I have been invested here for well over 3 years and only in profit by a smidgin and very briefly at that. However I bought the story - as a lifelong yachtie it chimed with my interest in things nautical and jam tomorrow did look like a likely outcome. However yesterday I thought it had been too quiet for too long on the SRT front with the sp drifting down all the while. I thought I had better take a look at all the recent announcements in detail for myself instead of relying on reports from others. Something about the way the RNS re changed year end was worded did not sit comfortably with me one bit and still giving it benefit of doubt I thought read the next announcement immediately. Most of my working life was in credit insurance and changes of year end make me sit up and take notice. Then I saw the Malayan newspaper article (Thanks goodapple) and that was just too much for me and I got out entirely at 24p. I see it went down again today albeit it has come back a bit late on but I would have thought there should be some much more definite reassurance. I still buy the idea the technology is good and maybe if it goes as low as I fear it may it will be worth a punt on the possibility of a bid. After the record -dilutions and all - I will be very cautious. Fortunately it was only a tiny holding in my portfolio.
Agree it’s all very alarming indeed, wondering if the whole company is tricked up top to bottom. Per the dilution the cash top up was over subscribed at 35p per share so if the reasons and noises are per the RNS and no corruption in evidence then it’s very cheap. If the reverse then further to fall. Small punt only at say 23p is the order of the day I think.
Monty, not to sure about your "the whole company tricked up from top to bottom" means but that is not what the latest RNS reported. It's only Simon and others outside the company who appear to be involved.
Simon is one of the best CEO's I've come across on the AIM and I've held some 60 odd companies in my time (some of them very odd!) Can't see him deliberately being corrupt but his loss would be a big loss to the company. For what it's worth I would support him.
Read extraders posts some three weeks ago for background. I think they explain the situation very well
PS. Thanks extrader for your efforts..
I thought the upselling of prospects was quite sharp to get the 35p cash injection away. No we have this Philippines issue with CEO trying to clear his name. If we assume he will and SRT are totally innocent of any tendering malpractices then they should issue a much more comprehensive RNS that answers the following: If Philippines don’t pay after alleging illegal tendering what would be the effect on revenue and bottom line? Is SRT smart enough to set up their contracts ideally with advanced stage payments to minimize payment risks. The fact that these 2 simple easy to update shareholders data is missing is very concerning and I think understandably until much greater P&L clarification is forthcoming it make SRT almost non-investable. Whilst there is a most explanation, changing their Y/E strategically right now stinks as well. I don’t think Tucker is the great CEO some believe him to be. Anyway time will out as always. (I’m watching might invest but need data on liabilities from current events).
Hi Monty, I've been to a couple of AGM's at which Simon is the main spokesperson and I've viewed countless webcasts he presents - all available on the website.
I don't know your experience of him but he's definitely in the top draw for me. If he has a fault, he has admitted to being little too positive at times. However he is an excellent communicator as evidenced by the said webcasts.