Adrian Hargrave, CEO of SEEEN, explains how the new funds will accelerate customer growth Watch the video here.
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Nice summary IB. I can only assume it’s no longer a 20 year contract as they now describe it as “10+ years”. But even that should be plenty to keep the share price rolling.
“Sceptical” is only logical after a decade of WSG. . For my sins I’ve added post the RNS and am (already) massively overexposed. But after being wrong for a decade I’m also hopeful.
Seems nailed on?
I had a quick read over to refresh my memory on DRC.. a few notes mate fwiw. Happy to be corrected.
20 Year Multi-Million USD Managed Services Contract covering
5 Airports in the Democratic Republic of the Congo.
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.
2021 passenger numbers (without covid) £12m pa revenue at 60% margin . Very Likely to have grown in the last 3 years. (WSG total revenues 2022-23 £9.5mil)
Once this is running WSG revenues will increase to circa £22mil-£25mil. WSG are currently around around B\E so should see profits in the region of £7mil plus gross with this contract?.
The contract was signed in 2021 but was subject to ratification. Lengthy delay since. (Nothing new here)
The recent Interim results on 28/3/24 gave an update on DRC and other “near term contracts”
“our project in the Democratic Republic of the Congo (DRC) for which I am delighted to announce that the long-awaited ratification process is currently being completed, being the final part of the formal procurement procedure for the now 10+ year contract signed in June 2021 for security services to 5 airports in the Democratic Republic of the Congo ('DRC'), Central Africa. Arrangements are now being made for a senior Westminster team to travel to the DRC with a UK Government Trade delegation in April to hopefully finalise matters and to prepare for commencement of the project. We expect to make a further announcement after that visit.”
The meetings are well documented to be taking place this week.
Hence the recent rise which should gather pace once signed. How much is WSG worth with £25mil revenue and £7m profits?
mcap currently £11mil.
Is that a ramp ? I remain sceptical but hopeful.
So when the shares make 26p they will sell the shares allocated for over 4million pounds so that covers the costs of expansion. Or they can borrow on that to finance to expansion if needed
2.5% of company shares traded at a VWAP of 3.56. almost 30m shares exchanged hands in the past two days. Healthy trading and consolidation readying for the big news hopefully in the coming week.
.... and finishing 6% up. 4 or 5 days of solid gains with no sell-off and fall back. All looking good .... UK envoys in DRC and presenting today and tomorrow, as per Linton's x link posted earlier today. So all going as planned and flagged in recent company Interims.
Best, M
Id been tied up in a couple of places so missed this. Bought to my attention in twitter posts by some I follow. Seems nailed on
.. welcome and good luck Rayte...
I hesitated between i, or, y, can I blame it on predicted text?
MasterB... yes Martyn's law will be a new, a repeat, business opportunity,... you only have to look at the recent terrorist attack in Moscow... to realise the importance of this law,.. which comes in to place in 2024.
Best, M
Late to the party but after seeing a few respected twitter posters in with £10k
Recent news on football matches needing beefed-up security will also help in securing new business under Martin's law, that's been quiet as of late, but by gosh am I pleased to see a rising SP.
Txs Linton.-
So if it is going to be ratified on this visit,.. it will most happen during this two day trade envoy visit,..ie today for tomorrow... and then we will await the WSG RNS...... could happen this week?.. or Monday RNS?
Either way,..not long. Happy for the sp to bob around 3-4p,.... until it drops. Then who knows,... I guess it will depend on the actual deal secured,... timing of commencement and deals of funding. - presume the market perception of the DRC contract and value will involve some form of risk factor, given the region,...-- but would still open to see head north of 6p in short order. Has been an exciting week,... thus far,... and more to come! Been a while since I was up and checking for an RNS at 7am--!
…in action
https://x.com/oliver_scheidt/status/1777997003458215986?s=46
Well said
It seems that the company is doing well and recognised better. sp is underestimated. I sold my £3800 at 3.75p yesterday which i bought at 1p. I should buy back at 3.2p yesterday. it looks sp is very strong and 8p is very likely. some people pick some out dated stuff try to benefit them. make your own judgement.
This deal is at government level it will be financially sorted as all EU Saudi UK wants to invest in a country like DRC. Emirate will be flying in a couple of months EU also money and 60 percent margins will be found.
Specticals and scepticals....
Placing may well come after they finally but very fastly close to sign few materials contract/s.....as such on the back of even higher price than the current 😀
GLA.
Aiming: you’re perpetually calling for a raise. You’ve been wrong for a while now. We haven’t had a raise in approaching 3 years. (June 21) Hasn’t stopped your calls.
There may well be one after the contract is signed, but if there is it should be higher than you sold out at 4p (at a 50% loss in a few weeks if holding).
As H&N said, come join the party. It’s not too late.
Plus im not a WSG trader, im in investor
Poor Vander, his deramps are now to say what a nice guy the corrupt head of the RVA was who is getting prosecuted for corruption as we speak lol. Just cos he didn't want WSG in as they'd stop his illegal activities ffs.
And with UKEF travelling with the trade delegation and Westminster, who needs a placing.
I knew (and said....) it was only a matter of time we get the specticals voice once again......
This words about a placing coming is heard here so many times before and not that long ago with sub 1p prediction......
Meanwhile we nearly 4 times that wishful thinking 🤔.......
Say no more.
Dr Vander:
Do you have it within you, maybe just once, to say something positive about WSG? We all know what's been happening here for years. Things are looking positive for the first time in a long time, so can you just try? I am sure you must have the ability if you look deep within yourself.
Otherwise, maybe you should go somewhere else...
Thank you.
Maccer- you are a long term trader here- tell us how fowler delivered the Tema contract
Ian,... good spot,... those figures for departures/pax are just N'Djili International Airport.- 2014 were the pre-covid figures and can't see any official numbers for years since then. Our Sierra Leone project, numbers have recovered and are now above at record levels. Hopefully the same here in DRC,... but political instability in country may impact on that,.. so not necessarily a fair comparison. If is is above 1M pax that is good news,... and as you say,.. the terminals have room for substantial increase in volume. Best, M.