Member Info for Bigears1170

The ferry makes my list due to the million$ they squandered on the scheme. Fowler should have been sacked three times over for that debacle alone !

Mexico Minimum £14m over 10 years commencing 2014 - Nowt

Nigeria Minimum £1.7M franchise fees over the 10 year term commencing 2012 - Nowt

Ferry £300m over 21 years - Nowt

Iconic bridge £1m - Nowt

America’s consultancy $4m - Nowt

KSA JV 2019 - Nowt

Iran - €24m pa - Nowt

Liberia - $1.1m pa - Nowt

DRC 1 - 20 year contract $6m pa - Nowt

DRC 2 - 15 year contract $10m pa - Nowt

Tema - Turfed out halfway though the contract term

And a noteworthy mention for Lungi as an embellished projection - PF estimated $150m over the first 8 years - so by my numbers circa $125m out on his projection …..

🤥 Unfortunately, nothing is ever nailed on in the world of Westminster Security Group either, even when the signature is ON the dotted line.“ 🤥

I can point the reader in the direction of eight “signed” contracts with a combined yearly revenue stream of $52m PA, all of which were referenced in fund raising paraphernalia for ten$ of million$ ,none of which ever produced a single penny of revenue for the business…….and not a single one of them were ever litigated for breach of contract……..🤷‍♂️

No probs - I’m sure he’s just looking for a cheap entry 🤭

How many “leading supplier of managed services and technology-based security solutions worldwide” businesses would be announcing a “£500k Credit Facility & CLN Variation”? The answer, I suggest, is none… so what of Westminster Group (WSG), which describes itself as such, having just done so?

It also states “to have a facility like this, effectively an interest free overdraft, available, if required, for short term use will be a great asset” – just how much of a non-leading supplier of managed services and technology-based security solutions worldwide is it then?!

Its March-announced results for its half year ended 31st December 2024 included that it was “pleased to report… revenue for H1 2025 was up 26%”. However, that was only to £3.7 million and there was a loss - only slightly reduced on a “continuing operations” basis - of £1 million.

On the balance sheet over the six months, even after £0.5 million of new equity, net “current” assets were £0.6 million lower to just £0.1 million – and that heavily relying on “receivables” of £2.8 million and including debt (net) of £1.1 million. There were then also “non-current borrowings” slightly up at £1.1 million, with “non-current” assets ‘property, plant and equipment’ stated as £2 million and ‘deferred tax’ £1.3 million.

It argued a post-period end £1.2 million further equity raise “for working capital purposes for the project” it has recently agreed in Gabon, but I suggest its full-year balance sheet will be very interesting in that regard and that now a £0.5 million credit facility being described as “a great asset” further suggests a still highly-challenged financial situation.

Also, it is argued “effectively an interest free overdraft” but also stated “as consideration for making the credit facility available, together with agreement that Pantheon will waive any future interest on funds drawn down under the Convertible Loan Notes (CLN) instrument, as announced on 1 July 2024, Westminster has agreed to revise the CLN conversion price from 3p to 2p per share on the funds currently drawn under the CLN”. With also that comparing to a current 2.6p share price, £11.7 million market cap, natch still avoid/sell.

“ why would they destroy the value of their own shareholding “

The company could win a lucrative contract on Monday morning , followed by the company’s board / majority shareholders deciding on Tuesday morning that delisting is in the company’s best interest.

They wouldn’t be destroying the value of their investment.

And shareholders would no doubt be paid out a premium to the 90 day VWAP or some other obscure calc - Whoopee…!

To give Fowler his due, his RNS are generally meticulously written, so the idea that his delisting note was a bit of throwaway note of boardroom housekeeping is absurd.

Nothing appears in that RNS without reason, so to think there is no smoke without fire is naive thinking.

In respect of Pantheon.

The idea they they were so devoid of investment opportunities that they decided to hitch their wagon to an AIM dog of a company that had never made a single penny profit in 18 odd years of trading, with a demonstrable track record in non delivery, ( of purported signed contracts ) who had slashed the thick end of £50m up the wall, led by a serial failure of a nepotistic CEO, on a contract in a corrupt kleptocratic, war ravaged cesspit like the DRC dosent bear scrutiny , it’s completely irrational behaviour for any lender and wouldn’t pass ANY fiscal risk assessment - which has proven to be the case in DRC.

For Pantheon to have touched this outfit with a $4itty stick there has to be a larger, yet to be revealed, carrot in the offing.

Like Misty and Yrabs, I don’t believe that retail “ investors “ (who, by the way, Fowler has demonstrated time and time again that he doesn't give a rat's backside about) will be there to benefit from the story.

PS—Given the structure of the company shareholding, in conjunction with Pantheons 27%, if it were to happen, retail wouldn’t have any say in it.

Agree Misty

Fowler didn't put that note in the finals by accident .

The country is a cesspit of corruption at every level of society.

A CEO with an ounce of business savvy would never have gone near the country. Fowler compounds his legendary incompetence by not binning the contract and walking away. 

That's uncle Peters next “ Carrot 🥕 “ for his flock.….. Medtech get the boot 🥾and Fowler announces “ Westminster have been asked to carry out a review of the port and container screening operations “ .

In WSG BB speak that's code for a contract 🤡

“ he does appear to have learnt his lesson the hard way “ …..what ******* hardship has he and his family endured? he & his family have been sucking the thick end of £500k a year out plus pensions and benefits come rain or shine .

fowler has absolutely nothing to learn, unfortunately the same can't be said for his “flock” ….he ought to attend his agm’s wearing a kaftan and pulling on a doobie...😂 it would be far more appropriate…

A bizarre phenomenon where you have a company and its shareholders sounding off about a non-port contract ( Tema) and yet not a peep out of anyone about the port contract they “ purport” to have signed in Liberia four years ago 🤭

No doubt swept under magic carpet of vanishing contracts, soon to be joined by DRC…….🥸

Of Zak’s interview and not a single tuppenny trade 😕

“I try not to over embellish the news “ 🤣

🤭

The FDA guidance is complex and nuanced for the layman to navigate;

“Unmet medical need “

“Sponsors can request Fast Track designation as early as the Investigational New Drug (IND) stage, typically with preclinical or early clinical data showing promise.”

My reading of it is that the fast track can be fast tracked as the IND ……

“ The leading supplier worldwide” if you don't mind 🥸 How is the market missing the trick to climb on board for just two and a bit brown pennies per ticket 😂

🤭

“Zak Mir talks to Peter Fowler, CEO Westminster Group, as “THE “leading supplier of managed services and technology-based security solutions 🤥 worldwide”.

Some classics in there from pompous Pete 🤣

“Jam tomorrow and more jam in the future “

“I try not to over embellish the news “

We wont be informed of an FDA fast track application and the FDA wont make it known either.

On the basis on SGC being an unmet need that application has to to be imminent.

“ The FDA is required to decide on Fast Track designation requests within 60 calendar days, which is the standard and most consistently documented timeline. While decisions may occasionally be made faster (potentially in 30 to 45 days for high-priority cases). “

Our SAB will know precisely when to push the button on that application and I believe approval will be granted this year.

Https://www.ecofinagency.com/news-infrastructures/0206-47091-african-countries-hold-majority-of-blocked-airline-revenues-iata

The last decade of this business model points to what one might expect to see in the future.

They have been continually lurching from one black swan to the next, eventually their luck will run out.

There is a good reason WSG “ win “ these thirld world contracts, its because they are on a tender list of one.

Tema = Hopium

DRC = Basket case before they have even started

Gabon = Seems like a great contract so long as they get paid( again one of the joys of 3rd world contracts ) .

African Countries Hold Majority of Blocked Airline Revenues (IATA) - Ecofin Agency

WH Ireland bought 8,691,541 shares between 15th Jan - 11th April ( courtesy of TTB on X ) .

WH Ireland can hold shares for private investors in their Discretionary portfolio management service.

RH previously held that exact number of shares ….