ceo2 Mar 2017 21:40
Like, I'm sure, fellow shareholders I've been rather concerned and a little depressed by the recent slide in the SP. However, I know from past experience that Simon Tucker is most unusual amongst CEO's in that he does actually care about private shareholders.
I therefore emailed him earlier today expressing my concerns, and he replied as follows - as you will see, he's consented to the email being published:
"Thanks for getting in touch – I am always more than happy to speak with the owners of SRT.
To me the short term share price fluctuations are a complete mystery. They are of course driven by shareholders themselves being prepared to buy and or sell at dramatically differing prices, but why there are such sharp changes in price without cause other than baseless discussion and rumours really does baffle me. I must admit that I now ignore these short term movements and focus on the day job of continuing to build SRT since in the end the share price is a simple function of the underlying value of the business which in turn is of course driven by the financials – not short term sentiment.
I see from the discussion boards that there is an expectation and desire for us to provide deep insight into project deliverables and progress and I think the lack of us providing this has lead to people concluding that nothing is happening. This is incorrect. On the project side of the business, where we sell complete systems, we will announce a contract per AIM rules. However probably the most basic information with very little detail due to the fact that these projects are usually of national security importance and thus the customer is very sensitive. Once we have done this we will not then issue progress updates – this is not something that any of our project customers will permit and even if they did, once we went down that road, given that the schedules and deliverables of such projects change regularly, we would be updating people almost daily and many would become frustrated as reasons behind the changes are frequently crazy. Therefore the fact that we do not provide progress reports on a project does not mean nothing is happening.
Its also well to remember that in addition to our projects business, we have other revenue sources, which whilst the individual orders are smaller than a large project contract, they are regular. Our em-trak business, sells AIS transceivers to a network of dealers and directly via our web site on a daily basis. Our OEM customers, all of whom are major marine electronics brands are selling our products under their brands via their dealer networks on a daily basis. Our Ports & waterways business (in which AtoN sits) is gathering pace too – albeit as I have consistently said, slowly but surely.
Finally, the AIM rules are very clear. If something material occurs, good or bad, the company must immediately (next day at the very latest) make an RNS to inform the market. Thi
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