Member Info for Bigears1170

I’ve seen some well intentioned and thoroughly decent folk get rinsed on the back of Fowlers bull$hat so I’m delighted to see anyone making a few bob here whatever their MO …….. but bag or no bag it’s still a pos company ……ran by the Fowler family, aided & abetted by family & freinds for their collective interest ……. they couldn’t give a rats a$$ about the humble pi …… always important to call a spade a spade ……./o:

“The Company has not awarded any standard annual option grants to Directors, PDMRs or employees since 2018. Furthermore, Sir Tony Baldry, Peter Fowler, Mark Hughes, Stuart Fowler and Roger Worrall have by mutual consent with the Company waived their rights to all outstanding option awards granted in 2014 and 2018 totalling 6,781,250 options, and these share options are now treated as lapsed.”

(o: ….. “ by mutual consent “ ……. PMSL ………of course they’ve waived those options …. the SP had to hit 60p with a strike price of 28p so worthless …..

Definitely….as you say he’s praying KSA kicks something out he can spin to try and off set Tema / SL

The eight break clause at Freetown came in February 2020 , the client would have been at liberty to introduce any amendments to the contract at this point.

The SL government signed the 25 BOT contract with Summa in Nov 2020.

Now given that any aviation contract in African takes years & years to negotiate & reach “ ratification “ ( we know this because Peter has told us, lots of times ) its nailed on SL were in talks with Summa at the time of the break clause in Feb …….I believe Fowler was told , it’s yours till 2027 or when the new airport opens……whichever comes first …….take it or leave it ……….AIMHO

Well done pump … comes to something when the bears can post better blurb than the bulls ……….”Our West African airport security contract, which runs until May 2027, under which we are providing full airport security services”

Let’s see how this plays out………won’t have long to wait …….. the math doesn’t stack up unfortunately……..

WSG are out on their ar$e ……there’re is no way they continue trouser that $39 pr dep pax for scanning a boarding pass when Summa can run Diori Hammani Int Airport ( DHIA) in Niger for €52 pr dep pax plus concessions………. Do the numbers ………../o:

WSG don’t have a contract with the SL government, their contract is with the Sierra Leone aviation authority (SLAA) which is a separate legal entity…..Summa Airports contract IS with the Sierra Leone Government.

I see Summa SL are well underway with ORAT at their shiny new airport.

Appears someone forgot to mentioned it to Westminster , which seems odd given their contract states the following;

“ For the avoidance of doubt all new security equipment or security services required at FNA outside the original scope of this agreement will be procured exclusively via Westminster under separate agreement.” .

Have I missed the RNS for the supply of the new baggage scanners , body scanners, walk through metal detectors ,mail scanners , cargo pallet scanners , hand held scanners , & associated paraphernalia to the new airport …….?

https://www.interconnective.co.uk/portable-knife-arch-walkthrough-metal-detector/

Have a nice Christmas Pump

Well done Pump, how did the markets miss that nugget ……..(o:

So in your world the RNS unworthy supply of a portable knife detector constitutes a long-term managed services contract ?
Incidentally I can buy one of those for £2000 ……….(o:

And here’s one he made earlier ……(o:

Accordingly, the Board have set its key goals for 2021 as:
 
1. Improve ratio of enquiries received/quotations issued by number and quotations issued/orders received by value;
2. Increase product portfolio and sales achieved;
3. Secure at least one more long-term managed services contract;
4. Deliver a year of double-digit revenue growth; -
5. Deliver another year of significant recurring revenue growth;
6. Deliver a material improvement in profitability;-
7. Deliver a sustained and material improvement in our share price; and -
8. Instigate an Investors in People programme.

You have thought Uncle Peter would be chomping at the bit to issue an update on his “ key goals “ ………..(o:

The Board has reset its key goals for 2022 as:
 
1. Improve ratio of enquiries received/quotations issued by number and quotations issued/orders received by value;
2. Increase product portfolio and sales achieved;
3. Increase sales in the UK and other first world countries;
4. Secure at least one more long-term managed services contract;
5. Deliver another year of significant recurring revenue growth;
6. Deliver a material improvement in revenue and a move to profitability;
7. Deliver a sustained and material improvement in our share price;
8. Develop a more formal and structured Environment, Social, and Governance (ESG) strategy;
9. Instigate an Investors in People programme; and
10. Deliver on Market Expectations.

And they sign contracts that mysteriously never generate any revenue …….|o:

I see there appears to have been some mischief within the public procurement departments over in Liberia ……… !

Must be a pungent whiff of corruption for the US Dept of Treasury to be implementing the Magnitsky act;

https://home.treasury.gov/news/press-releases/jy0921

Interesting to see the MD of the National Ports Authority being sanctioned…………… |o:

In Dec 2020 the SL government ratified a contract with the Summa Group ( Summa) for a 25 year Build operate transfer (BOT ) contract for the construction and operation of a new Airport to replace the existing.

https://www.thesierraleonetelegraph.com/sierra-leone-parliament-ratifies-lungi-international-airport-expansion-project/

The scheme commenced late 2020 https://sierraloaded.sl/news/summa-group-constructing-new-ultra-modern-airport-lungi/. and is forecast to be complete for the end of this year.

http://www.thepatrioticvanguard.com/president-bio-inspects-ongoing-airport-work

To understand their business model ( and I see no reason why they won’t duplicate it at SL) , look at the airport Summa run at the Diori Hammani Int Airport ( DHIA) in Niger under a BOT concession;

https://niameyairport.com/en/about-us/

https://cdn2.hubspot.net/hubfs/4641184/Featured%20Research/Summa%20-%20Projects%20are%20on%20track.pdf

“As the sole operator of the DHIA, Summa is able to optimise processes and exercise stringent cost control at every step of value creation to maximise the return on its investment. There are two main revenue streams for Summa: 1) aeronautical revenues, including all charges related to arrival and departure of aircraft, passengers and cargo; and 2) non-aeronautical, including retail concessions, airline catering, car parking and other services provided in a modern international airport.
In addition, under the terms of the 30-year concession agreement, Summa is entitled to a EUR52 infrastructure development charge per departing international passenger, collected directly from the International Air Transport Association (IATA).”

WSG’s contract runs 2027 for the existing airport contract where they pocket $39.00 pr dep pax , however the contract states the following;

“The SLAA shall,under separate agreement, exclusively contract with Westminster for any new airport security services ( whether at the FNA or any other airport in Sierra Leone ) subject to agreeing relevant terms and costing.“ …………………………………..emphasis being on “ subject to agreeing relevant terms and costing “.

Summa’s contract isn’t with the SLAA it’s with The Republic of Sierra Leone !

Now Interestingly , on page 18 of the 2020 agreement SL has with Summa it states the following;

“all those aeronautical fees and all other revenues from the Airport shall be collected solely and exclusively by a private party during the entire operation period and shall not be subject to any deduction allocation or sharing with the public party ( that’s the Government ) or any third party.”

So I ask myself ……….. Would a savvy outfit like Summa ,along with their banks & investors pony up $270m committing to a 25 year contract, where for the first five years , the thick end of $4M per year was being skimmed off their shiny new airport by the old airports incumbent security company ………. for scanning a boarding pass ?

Summa’s contract is with “The Republic of Sierra Leone” .
WSG,s contract is with the “Sierra Leone Airports Authority” ………………I smell a rat ………|o:

asked themselves why………….given the SP is on its ar$e and screaming out for any sort of good news story , a gob sh*te CEO like Peter Fowler who ordinarily embellishes everything from the opening of an envelope to a mango mask vending machine hasn’t muttered a single word in relation the new $270m airport due for completion at the end of this year ….?

No mention in the H/Y report , nowt in the outlook …Nothing about any new security apparatus, not a peep on the job creation for the increased terminal size, or the fat increase in pax the airport will be capable of handling……. Nowt , zilch ………. the absence of even an acknowledgment of the new airport with any reference to future revenues is remarkably out of character ……..I wonder why ? ………..|o:

I don’t believe he has the faintest idea when or if ratification will be achieved ……….DRC is one of the most corrupt countries on earth so surely the most unpredictable they have dealt with ……. But hey Fowler said it had been one of their target markets for some time so I’m sure they carried out their due diligence…………..(o:

(o:

Summa will invite WSG to agree relevant terms and cost for the new airport - I don’t think for a nano second that they will watch WSG walk away with anything like $39 pr dep pax ……|o: