McDoule, that'll depend on what and where the next project is. Banks like security on their lending, which can be very difficult when the assets are overseas, particularly in emerging markets. As a result that form of funding may not be possible. Vendor financing may be possible too, but again it may depend on where the assets are. Banbury has already been used to secure the Clydesdale facilities. As the business grows and revenues increase from multiple sources, then that may help, but we aren't there yet. It will all depending on the timing of the next deal arriving. Obviously none of us want dilution if it can be avoided, but if is the choice of another one or two £10-20m pa 20 year contracts with some dilution or nothing, I'll take the former.
On contracts such as these, not all of the capital outlay is required at once. So we have enough funding from the last placing and the Clydesdale facilities to get the projects up and running. Future capital outlays can then be met from the revenues from the projects.
Where additional funding may be required is if there is another project (or projects) that are imminent. We know that they are currently setting up a subsidiary in the Far East. That sounds to me that we are expecting an MSC from that direction too in the not too distant future. Then there is KSA too, that has been nearly two years since the JV was set up, so maybe negotiations have progressed on that too. If all the buses arrive together then they will need funding, but that won’t be a bad thing if it is to fund an expanding business , even if it is equity.
When Tema was announced it was envisaged that we would be employing the staff and hence the revenue was expected to be higher. Profit at Tema I suspect is very good given our cost base there.
This deal is top draw. 20 years extendable by another 5. $6m pa based on 50% reduced CV19 passenger numbers. I doubt that funding will be an issue unless another MSC arrives. I doubt all of the kit will be fitted on day 1, so project revenue will most likely be able self fund it. Plus we have cash from the placing to kick it off.
Fingers crossed there are a few more MSCs close behind.
Oh dear, facts a little too inconvenient for you are they? Instead of boring the arse off everybody with you constant whinging, why don’t you and your mates call an EGM. Have the balls to do it instead of just thumping away on a keyboard. Admittedly you’d have to buy some share first, but given how bad you think it is run, surely an opportunity for you to put you own man in and turn it around?
Accountability - yep heard of that. Directors are accountable to the shareholders (have you heard of them?). At each AGM directors stand for re -election. Not seen a vote by the shareholders to remove one yet.
Shareholders can also call an EGM and put forward a resolution to remove them (see Hurricane Energy RNS 19 May as an example). Not seen one of those either for WSG.
RE: Westminster signs Memorandum of Understanding with Burkina Faso for provision of Airport Security So20 May 2021 12:55
Interesting - Wikipedia states passenger numbers for 2014 at 527,524 at the principal airport and further states "Ouagadougou Airport handles about 98% of all scheduled commercial air traffic in Burkina Faso. Air Burkina and Air France handle about 60% of scheduled passenger traffic. Between 2005 and 2011, air passenger traffic at Ouagadougou airport grew at an average annual rate of 7.0%, reaching about 404,726 passengers in 2011 and was estimated to reach 850,000 by 2025." https://en.wikipedia.org/wiki/Thomas_Sankara_International_Airport_Ouagadougou
If you drag your mouse over the graph on the other website it shows for 2011 -133,709.779 passengers and for 2012 - 125,693.696 - not sure I understand how anyone can measure passenger numbers to the thousandth of person, so I'm taking those with a very large pinch of salt.
Hilarious, you take umbrage at being labelled a deramper and then, less than 90 minutes later post "I’ll keep on ‘trolling’ as you call it, if you - and others - keep on buying and push the SP higher."
Ian, so funny reading knows4call trying to deramp by spreading fear of another cash raise, when all anyone has to do is some very basic research to realise what a load of old cobblers he is spouting. You were of course spot on, but I guess you didn't need me to tell you that.
Funny that Yrabs, considering that nearly 12 month ago you posted
RE: Temperature screening Heathrow23 May 2020 12:41 any tech ninjas out there who can see if this looks like WSG kit.... showing a camera and a laptop..... it would be a coup for little old wsg..... cannot imagine why the airport would not chose a big boy... but maybe that's Pete's dangly carrot for the AGM...….we shall know soon enough. B
You seemed to think that it was a good idea at the time to go into screening. I suppose that must mean you are a moron too?
MTP - why wait for the presentation when you can just read the RNS? “In June we also announced that we had conducted a successful trial of our fever screening solutions in association with Menzies Aviation and their client, Air France, at Stockholm Arlanda Airport. Both Menzies and their clients were impressed with the versatility of the system, adapting to different challenges and processes within the airport environment and it was expected that this would result in joint business opportunities with Menzies Aviation offering the Westminster solution to their global clients as part of their wider commercial package. The continued travel restrictions and challenges facing airports has meant this potential roll out is yet to happen although airports are now more likely to focus on sanitisation systems, which Westminster offer, rather than fever screening. The joint initiative with Menzies Aviation however has now led to other potential and sizeable business opportunities we are jointly pursuing.”
Tema - the results are timetabled to the same schedule as last year. However, you may recall that the auditors screwed up and weren’t ready to sign, so we had a delay of two weeks whilst they completed their review. MH had stated the year before, that he intended to bring results forward a month.