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.
AH21 - I’d like to say no chance but I also wouldn’t put it past him.
Sad thing is it looked like we might be turning the tide. The two contract announcements seemed genuinely transformational and I can almost (begrudgingly) see past the form book placing done on the back of them.
It looked like Fooler was starting to win business, sentiment was turning, a chance for meaningful revenues and maybe even get to the place where debt funding could replace shafting shareholders on a regular basis,
Sadly, the veneer has started to fade, sentiment going with it and we are back to the WSG that the market knows all about. Any potential investors who will have previously known all about the past will take one look and realise it’s still the same old Fooler family f*** up.
Foxy are you saying that the basis for the queens award was the DRC contract? I thought it was thrown in with the Tower of London/ Houses of Parliament contract, in return for a 50% discount
The Fooler has fooled again lol
Placing before Xmas to fund the foolers lifestyle
Only1G....I enjoy the hypotheticals game........ I work best on these with all the facts..... I do not have them... what I have is Pete telling us he has a signed contract that is worthless without ratification.........he stated that the worth would appear by september... It is October..... he started the slip game at the webinar when he stated that the boots had started prelims without ratification and then at Q&A was grumpy when asked about DRC slippage and EOY revenues.... saying against a 20 year backdrop, a small delay is meaningless.... so he knows its not coming anytime soon.... just typical WSG behaviour...... very annoying and very Pete........B
Okay that’s fair enough Yrabs - you clearly prefer for it not to be RNS’d. Let me ask another question and answer honestly. If you had sold in the period between contract signing and ratification taking place and had subsequently found out there was finally a long awaited contract signed that you knew nothing about albeit that it hadn’t been ratified would you have had any complaints that you had sold not knowing a contract had been agreed and signed?
The Airport Authority contract was reported to us immediately - then Pete needed ratification in a fortnight - which with 90 days to prep took him to the last days of sept’. Given his experience in Africa thus far - a Government responding to something this significant in a fortnight was naive bordering ridiculous.
If I’ve got that right, usual correction welcome caveats apply, it’s only taken seven times longer than anticipated.
I suspect you flatter.
I stand to be corrected, but I’m not aware that we’ve been told WHEN the contract with the Airport Authority was signed.
WSG gleefully announced the Queen’s Award on 29th of April. On the grounds that they’ve done nothing else to warrant this - I speculate that DRC was signed and ratification began before that. As you suggest, I sure Pete wanted ratification done before the AGM. ‘Didn’t happen.
I accept that my theory falls on the 90 day/Sept start. But I haven’t seen the contract. IF the contract was actually announced punctually, then it follows that the Queens award came BEFORE the contract it (presumably) celebrates.
All speculation. What undeniable is that this DRC project bears all the hallmark of fluffed projects from the past.
Iran took years to reach a point where it was signed, conveniently subject to exchange of board letters and within hours, Trump scuppered it. What are the chances?
Of course, if Pete had exercised the same “a few months here or there” policy, and just waited to close it properly, we’ve never learned that it was semi-signed.
When was the deadline for the CULN’s to be repaid??
What was the date for the AGM?
When were the two ‘contracts’ get announced?
Coincidence?
Have either started?
The DRC is a ‘conditional’ contract the terms of which (90 days and Sept start) have been completely disregarded by the Government. The program set out is three months overdue. Quite why PF is spending money pre-ratification is beyond me. I don’t see this as any more likely to close than his last semi-signed African folly that still awaits (in silence) re-organisation. That’s nearing two years ago, I believe.
I think in light of what was set out in previous RNS’s, PF needs to explain the (“days or weeks”) disparity between his previous assertion and the failure (by whatever party)to adhere to those.
Only1Gibbo, It is unclear to me how a signed contract that cannot be enacted until ratification is news worthy...... its a bit like saying I have the winning lottery numbers, but I don't get the money until the ticket have been checked.....why.do I say this in the light of Pete stating that contracts can not be uncontracted..... one word..........IRAN. IRAN was a signed contract and then Trump jumped in and it went straight on to a shelf, so was never enacted............. so there is absolutely no reason why a black swan may not swim over to DRC between now and the ratification being given......The ratification process started 3-4 months ago...... so why is it taking so long?.... what happens if the government say no or ask for more information or a nasty man comes along and takes over the government.......I hope that makes sense as unfortunately we have been here before.... hence why we sit sub 5p............B
Yrabs - a question for you
Would you have preferred that Pete hadn’t RNS’d the DRC until ratification had taken place so that you wouldn’t have any concerns about any delays? Or RNS’d as he did once signed?
We used to be good at signing MOU’s that never progressed (but all still definitely alive !).
Now we have a growing list of signed contracts currently ‘pending’, with the other African ‘restructure’ pending and of course Iran - not dead but as good as. Didn’t we have a US bridge contract signed that came to nothing ?
I know Fooler is sanguine about the delay but WSG’s reputation on this is getting beyond a joke.
It right to deploy and prepare. Its frustrating waiting but will be worth it. Pointless moaning.
NT to buy when i tried ? Will try again later but got to go out.
Hi hooooooo
Hi hooooooo
Hi ho hi ho it’s down to 4 we go
IanB... you missed this bit out
The contract includes a 90-day transition period to allow for operational planning and recruitment processes to be completed. Operations are therefore expected to formally commence in September 2021, although Westminster will deploy its transition team once the DRC government ratification process has been completed in order to commence planning, recruitment, training and logistics.
funny that.......especially as Peter actually deployed the transition team BEFORE ratification, so did deviate from the RNS above...... so Pete seems to have some flexibility... but not enough to commence activity it seems...... B
"what do you think PF can do to speed the DRC gov up"...........
Zoom call in June
Peter....."Thats great Mr Airport Authority - contract signed"
DRC AA...... Yes Mr Fowler, and we will begin once our government have ratified the contract
Peter...... Oh damn.... when will that be?
DRC AA...... Do not have a clue Mr Fowler, things take a long time her
Peter.... oh Damn, I will have to make something up then..... when is your birthday?
DRC AA.... September
Peter.... great that will do, .....
B
Its clearly stated in the RNS - awaits formal ratification. Its not like we are being misled -
New Minimum 20 Year Multi-Million USD Managed Services Contract covering
5 Airports in the Democratic Republic of the Congo
Westminster Group Plc (AIM: WSG), a leading supplier of managed services and technology-based security solutions worldwide, is pleased to announce that its Services Division has been awarded a long-term managed services contract to provide security services to 5 airports in the Democratic Republic of the Congo ('DRC'), Central Africa.
The contract was officially signed in Kinshasa by board representatives of Westminster and the airport authority, La Regie Des Voies Aeriennes (RVA) and witnessed by the British Ambassador, Ms Emily Maltman. The signed contract will now undergo formal ratification in accordance with DRC government procurement requirements before meaningful activities commence.
This latest multi-million USD per annum managed services contract was secured after many months of negotiation and delays caused by COVID travel restrictions. The contract, which is for an initial period of 20 years, with a 5-year renewal thereafter, is to provide comprehensive ground security operations, initially at 4 international airports and 1 national airport in the DRC. Westminster is to provide its expertise in assisting the authorities to develop and maintain world-class airport security services, opening up the potential for growth in air traffic by attracting new international carriers and commercial enterprises to the region.
Yrabs - out of PFs hands. A big Contract is signed, market has to be told. We wait on DRC government not WSG to ratify. What do you thing PF can do to speed the DRC gov up?
Lets up it comes soon and catches a few out.
The problem is IanB, you hit the nail on the head..... "nothing has changed"............ I take that as meaning the way Peter hails a new contract... we get excited... the SP shoots UP..... Pete falls over himself to place at the higher SP........ He then goes quiet as the contract "dependency" slips in to the night........... Happened with Tema and now DRC....... And he wonders why we have pesky traders !!!...... I am sure our 4p holders are starting to make sure they hang on to some profit for the year they have held these dogs..... the 5.7p holders from June are probably more grumpy........ B
Enjoy it all whilst you can lads. Im happy for you.
Would be if he was making money. Bought 6p sold 4p. Not that smart.
Looks to me like spreadex selling some this week on low volume so price dropped. Nothing else changed.
As I said Aiming21..... you are smarter than all of us..............B
As I said yrabs as I said lane 4 approaching.
so there we have it...... 4s.......... now where has Peter gone with them boots on the ground..... merely a formality old boy he shouts loudly across the room...... merely a formality.........B
Fowler’s time horizon is in decades
In 2012 he said ‘judge me in ten years’ not in months- that will only pander to traders
I’m not sure that cat eating agreement was ever ratified.