Srt Marine Sys. Share Price (SRT)

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.

Hi Ecologist - that was the point of my earlier post about my discussion with the FD - your experiences echo mine; I was concerned that SRT would be getting into that to win contracts, but he was adamant that all there has been a culture shift and most emerging nations try to be squeaky clean. (Not sure about Nigeria!)

"If the EU flexes its muscles, this mess may get sorted out, AFAICS."

Shame we're not still a member.

Extrader, thank you for passing that on, it is very helpful.

Simply my take:

Having worked in Africa and Asia for a combined 35 years, doing business is never simple and too frequently there is someone attempting to be 'on the take'. Some people / companies are ready to grease palms (= graft or bribes or dash or bakhsheesh) in order to win contracts with the cost of bribes being factored into the contract costs.

All that said, I am in no way suggesting that our company is in anyway involved in corruption. Indeed the RNS, tells us that SRT, the company, has been exonerated. But the sword is hanging over Simon's head and I cross fingers that he is soon exonerated too. (And I have a problem understanding how Simon alone can be under suspicion).

Meanwhile, the sp will continue to suffer until the situation is cleared up.