Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
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DRC is extremely rich in natural resources and has the potential for sizeable economic growth. I look forward to Westminster having a long-term presence in the country and in playing our part in the successful growth and security of the country's numerous airports."
Commenting on the development, RVA Chairman, Prof. Tryphon Kin-Kiey Mulumba, added: "The Government of the DRC and the RVA are committed to creating world-class airport operations within the country, which will create economic benefits for the country and its citizens.
"We have been impressed by the professionalism and expertise shown by Westminster and we see partnerships like this with leading global organisations, as a key part of this strategy."
Procative invs
Westminster Group said it has ratified a ten-year plus multi-million-pound contract, for security services at five airports in the Democratic Republic of the Congo or DRC.
Contracts were officially signed today during the UK - DRC Trade and Investment Mission, at a formal ceremony in Kinshasa by board representatives of both Westminster and the airport authority, La Regie Des Voies Aeriennes (RVA).
Present were various government officials and dignitaries including Lord Popat, the UK Prime Minister's Trade Envoy; John Humphrey, His Majesty's Trade Commissioner for Africa; HE Alyson King OBE, HM Ambassador to the DRC; and HE Ndolamb Ngokwey, Ambassador of the DRC to the United Kingdom.
Through the contract, Westminster will provide comprehensive ground security operations, initially at four international airports and one national airport in the DRC.
This will include advanced detection, surveillance and screening equipment plus maintenance, training and support.
As part of the programme, Westminster will also establish an aviation security training academy to provide certified training to international standards for all aviation security ('AVSEC') staff.
Westminster added the managed services model it has successfully deployed elsewhere in Africa is the basis of the model.
Revenues will be driven by embarking passenger numbers using the airports and funded by a per passenger fee, denominated in US$, collected through the ticketing system and payable directly to Westminster by the airlines or IATA.
“Based on current international embarking passenger levels, the contract is expected to generate revenues of circa US$10m in the first 12 months of operation,” said the statement.
“In addition, there is an opportunity under the contract for further revenues, in due course, from domestic traffic and cargo screening operations.
A 90-day transition period is included in the contract to allow for operational planning and recruitment processes to be completed with operations to commence formally in July 2024.
Initial funding for the project will be from Westminster's own resources with several options under consideration focussed on project-based debt capital.
Peter Fowler, Westminster's chief executive said: "I am delighted to be able to announce this important new contract during the UK - DRC Trade and Investment Mission.
"The Democratic Republic of the Congo is a key addition to our international aviation security services, and we believe the country has exciting growth potential.
With a surface area equivalent to that of Western Europe it is, by area, the largest country in sub-Saharan Africa, the second largest in all of Africa, and the 11th-largest in the world.
It is also the most populous Francophone country in the world. Air travel is therefore an important and a necessary requirement within this vast country.
DRC is extremely rich in natural resources and has the potential for si
Hi Troj.. Riddler is always around ha ha.. mosbow bless him is the main reason I would never touch this company with a bargepole.. Ruined his retirement with their nonsese and broken promises.. Bless old Phils heart :-( once of lifes true gents and golden souls, he deserved better ! You all good ?
Not a chance ha ha.. Told too many lies to give them any of my money again... But really do hope this is the start of something.. For shareholders, not the BOD.
SFU, not tempted to dip a toe for old times sake? 😂
Https://www.proactiveinvestors.co.uk/companies/news/1045117/westminster-signs-off-five-airport-security-contract-in-drc-1045117.
mr stephenfryup.....where's riddler nowardays?any ideas....no mosbow either
Cheers Mike, you are one of the good guys, and really hope they give you something to smile about.. Should move again now once they clarify the funding part of RNS.. Im sure they will shortly. GL
This was 1.5 ish p not 1ish p ahead of that heads up DRC contract coming RNS on March 28th .. and it was harshly beaten down for years to be that low too.. so much closer to 100 p/c than 200 p/c rise 'on news' so far here .. and that from a dirt on the floor base
I expect this to go into the 4'sp - and then beyond - soon enough.. first traders need to have their moments.. and also people need to look into the contract more closely..
#GameChanger
IMHO & DYOR
SFU,.... best to you to.
Plenty of us long term holders here,.. and still substantially down,... but hopefully this is the tipping point.
Nothing fairytale about the contract here.
It's all go for great revenue and returns.
They will get non dilutive funding and we will see the SP go up more.
Just a couple boxes to tick
Be interesting to see if there are any late prints after hours.
Happened at Syn
Needs clarification on funding then it will be a slow steady rise.
Its good to invest in definite projects on aim and not fairy stories
Also very shocked at the reaction.
Was expecting the move to 4p to be followed by 4.5p and 5p
But the market acts in mysterious ways...
This will go up soon.
For all you long termers.. Really hope it can get back to levels where people can get their money back... I personally cant congratulate the company, as 90p to 1p, to 4p doesnt really say well done to me... Not been in for a few years, but always watch with interest, as spent countless hours in the company of Fowler et al, and always wondered if they would ever deliver on the numerous promises... Looks like this is the closest yet, so good luck all.. Hope all long termers and their families are well.
Was expecting more from the sp. 10x revenue from this contract alone should give us $120m valuation?
$10mill revs, $6mill profit = £4.8mill.
PE 10 is £48mill (more msc close )
15p/share
Looking a good underpinned investment at long last
Well missed the rns as jet washing the patio! Congrats WSG.
More than doubles revenues here and wsg will be making cash for the first time in its history. Kooks like no placing to fund either.
6 million a year plus profit for over 10 years and no funding .
I always said I would reinvest once they gained another multiyear contract, not the crackpot ones they achieved with the ferry and Ghana - now they have it, they just need to manage it well now like they have West Africa, they'll need funding but wording of the rns suggests this will be a bit further down the line, hopefully at a higher price
Correct but you could have summarised that with one simple well known phrase:
Sell on news
What you haven't elaborated is the effect AFTER the sell on news brigade are out
Now choose which side you want to be
Rule1
or rule 2
Two vital rules of Share price rising,
1. if there's a big news anticipated and investors starts buying, sp will rise,
2. Sp spikes hard if Sp did not anticipated a good news
these two scenarios are are often followed.
so in WSG case Sp risen from 1p in Anticipation hence the no2 rule if forfeited.
see what I mean,
however had WSG shares didn't rise on anticipation, then after Rns it would have
...welcome to the dark side three putt...!
Two vital rules of Share price rising,
1. if there's a big news anticipated and investors starts buying, sp will rise,
2. Sp spikes hard if Sp did not anticipated a good news
these two scenarios are are often followed.
so in WSG case Sp risen from 1p in Anticipation hence the no2 rule if forfeited.
see what I mean,
however had WSG shares didn't rise on anticipation, then after Rns it would have.
….at his little face. So excited!
https://x.com/wg_plc/status/1778428179213959281?s=46
Ok I'll give it the benefit, I'm in, looks like good support here for when the penny drops