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No mention by Bearbull of the court case - does this really have no impact upon the share price?? I still think that the reason ISAT are in court is a pure commercial tactic by the opposition; it is a low cost option for them to take. We also all know the time it takes the European court to close-out (if ever) such disputes. At this point in time I assume that ISAT have both a tech and cost advantage in this - airline - sector. But as others have mentioned they have a limited timeframe within which they can capitalise on this advantage. What I do not know is the relative technical or cost advantages of the oppositions technology, nor when their competing offerings will be viable/credible; I am hoping that ISAT directors do!

There is a very thin market in this stock, amplifying movements by PI's. We should worry if we see materially larger volumes. Delay in putting an acquisition to bed may be simply down to a failure to agree on the first target and / or protracted due diligence. I cannot believe that there was not a credible short-list of targets before the fundraising. For the moment all we can do is wait.

The problem is that the prey know how much they have in their kitty and the acquisition must be very clearly value adding in the near term. So they cannot appear too desperate; this may take longer than expected..............

I could not see any specific update yesterday on the pending court case; still a huge commercial negative in my opinion I also think that at this price one of the other players can buy both Cap Ex (plus time to market) and a profitable business, for a knock-down price - see also Mr Bearbull The CEO has spoken of his confidence in the med/long-term, but I am not sure management have that long

You are of course correct in what you say, however, the long shadow cast by the court action must be a major deterrent to investors. As I have said previously this action is a fantastic example of damaging your competition at no financial cost to your own business. Until this is resolved in Inmarsat's favour - which I am certain it will be - we must keep faith - like DT

Aside from the level of borrowing, which will remain as a concern for some time, I think we should reflect on three events that should come along in the near-term: (i) commissioning of the new satellite due by end Oct; (ii) completion of EU regulatory approval; and (ii) a date for the ECJ case (the commercial spoiling one, that is!). Ticks against these should at least provide some hope of positive momentum. One final thought, Deutsche Telekom is a credible partner.

I think Numis aside, there are interesting parallels with what happened with the Centamin (CEY) share price, after the announcement of the court case seeking to revoke their mining license in Egypt. This acted as a drag for a long time. In terms of sentiment, therefore, until the current court case is behind ISAT (and hopefully rapidly) there will continue to be downward pressure on the share price. It is clearly a delaying tactic by the opposition, but the longer this legal uncertainty continues the greater will be the impact on customer sentiment, and hence sales into this emergent sector for ISAT. I am not a solicitor but based upon what I have read, I am hopeful of a positive outcome to the case and a sustained bounce in the share price.

I understand your point of view. What I could understand, and accept in a growing business, are losses in their manufacturing-related operations, since this is critically linked to activity and hence recoveries, which can easily wipe out any contract profits. What I struggle with, in the absence of understanding the level of Prod Dev costs, is how, in what is essentially a manpower driven activity, with some, possibly minimal licensing revenue (an upside!), you can loose money on an on-going basis. I would therefore expect to see this move rapidly into profit - irrespective of acquisitions - IF they have either engineering capability or licenseable products that have real market worth. Also, do remember that there are unallocated central costs within the current structure. I still hope they make a success of things since I was in to this at 29p - so fingers crossed!!

I am surprised that the company has not given a rather better explanation as to how operating margins are going to be radically improved in these areas. I am concerned that we see no substantial improvement in an area that should, almost without exception, be delivering good, and consistent, margins on relatively low turnover; this is why this type of work is pursued. Acquisitions will have no short-term impact on existing gross margins, so what is going to change in this business area?? Am I missing something on the Prod Dev front??? I also saw a note posted ragrding the small turbines that were licensed out last year as having problems; I cannot see a reference to this??

i think that the interesting part of this business is the non-water side. They corrected their error by trfring the contract to Babcock. I have high hopes for this over the next 2yrs and supported by the defesive qualities - as others have said - of the water side

Well lets keep our fingers crossed............

Any update on your timetable???

...now reducing holding!

i agree with your comments. I think that there needs to be a sharp increase in margins achieved. How much of this can be delivered from the operational improvements they refer to in the statement, if this is going to fly. I am uncertain about the achievability of this ask, given the scale of the design / build projects they undertake. What I would like to see, if the technology / expertise is really as robust as suggested, is an indication at the next trading update of increased margins in the pure engineering support area. I have a concern that too much of the support activity is of a jobbing nature and hence low margin - and always will be. A hold for the moment

They have failed to learn the lesson of a turn-around and that is under promise, etc, etc. At this price I suspect one of the bigger players will now take a look

I think we can expect more from this area. The team have a track record of delivery and the additions made in 2016 are still at an early stage. Further, as others have mentioned here, we should expect additional small bolt-ons to provide extended regional coverage from current and, in turn, margin progession. This share will deliver better returns than those presently indicated by the analysts, but based upon its acquisition, at some time

1) If the UK infrastruture market outlook is positive why is this going backwards; and 2) Why is it out of step over the past 2days with similar businesses

See above

Whilst progress now appears to be being made, and rightly, do keep in mind that some of us have been in this company at nearer 30p/share!!

This is a bet on the oil/ gas price going forward but the parties now holding major stakes should give people some confidence in where the share price is likely to move over the next 12mths.