Which AGM was that Vander? Certainly wasn’t the one I went to in June.
Yeah Noodle, what have the Fowlers ever done for us? They’ve bled us dry, and their children, and their children’s children, and their children’s children’s children, and, .... well I don’t want to to labour the point Noodle but I know you understand what I mean.
In fact was only discussing this with Pete the other day Noodle. I asked him why he doesn’t get the contracts signed much earlier up the curve. He said, customers keep asking him the same, they keep presenting him finalised contracts signed by them but he just prefers to tell them to feck off because he would rather p*** the shareholders off than put his signature on the paper and earn some revenue. You’re right it’s clearly all his fault. No one else’s.
Your total distrust in him, but at the same time total belief that it will come good in the end (clearly as a direct result of his incompetence) is most surely a very well thought out and very perceptive viewpoint that only a sheer genius could comprehend and appreciate. You’re wasting your time though trying to explain that to the idiots on here. They think it’s the customers lack of signing the contracts that is holding us up. Muppets eh! Total muppets!
“Tema is in the bag” you say, well that just sounds like total failure to me. I mean, if you’re going to tell the customer you’re not going to sign the contract there is little point in pitching up to do the work and get paid for it anyway, is there? Disgraceful and quite shocking really.
But KSA is what really worries me though. I mean, how can anyone manage to negotiate a transformational contract with Iran, a country seen as a pariah state that looks at us as the mini Satan, then having the nerve to rely upon an orange blob to save him from actually signing the deal and then go and negotiate a JV with their sworn enemy with the prospect of providing even more services. I mean, what is that all about? I ask you!
HH still had a load of shares left as well. Could be them again. They sold a large chunk last time didn’t they?
I read that as multiple roles Eskers.
Fowlers
And re the convertible loan Panda, don’t forget that it was re-negotiated so that it can be repaid early without penalty, so it may not get converted anyway.
Not necessarily Panda. The warrant holder could equally decide to hold on to the shares from the warrants he or she has exercised. No requirement that they sell them into the market. Obviously some do, but it isn’t a given.
As daft as it may seem to you, because he has nearly three decades experience in the X-Ray screening sector? Seems a logical appointment for someone to manage operations at the port to me. Looking at Michel Saouda's and Kojo Ofosu Siaw's cv's I'm not sure they would be the personnel donning high vis jackets full time at the port. Or maybe you do?
Probably? I think you mean absolutely Vander :-)
Go on, humour me. Why are you suspicious they might not work for Scanport? Why would someone ( I assume you're suggesting PF) randomly select those three names to include on the proposal document if they don't work for Scanport? What is the advantage gained?
"Michel saouda and mojo ofosu Siaw keep up to date LinkedIn summaries"
"Neither mentions scanport- formed back in March 2019"
Well they're clearly not up to date then are they you muppet. There's an old saying, better to remain silent and be thought a fool than to speak and to remove all doubt.
So are you suggesting that if he could've announced the contract in Feb 18 he shouldn't have done so just in case something in the middle east kicked off at some point in the future? and that he should have told the Iranian's where to stick their business just as a precaution in case Donald Trump decided to pick a fight with them?
Yes that link has been posted before (yawn), but he still wasn't paid £310k. Half of that was an accounting entry for share options awarded. None of which are currently worth anything as the SP isn't high enough yet. Stop trying to mislead.
No he wasn't Vander as you well know.
Still waiting for an answer to my question Phil. Come on, don't be shy! I've been waiting all Xmas to be dazzled by your entrepreneurial flair and commercial acumen.
Just in case you've forgotten the question "So what would you have done differently Phil if you were in charge?"
Well there is no shortage of non investors and traders here. We all need the contract concluded to make good on our investment Feeks. I suspect the reason they gave an estimate before was because the current issues between MPS and GPHA weren't known to us at that point, and 30 days probably wasn't an unreasonable expectation at that point. Now we have two third parties arguing the toss, so it is anybody's guess as to when they will reach a compromise. Yes it would be nice to know when it will be concluded, but without any control over that timeline, I don't see the point in feeding the non invested and traders. Have a good Christmas Feeks, look to the future, it's only just begun!
Feeks, your response to Phil's post , "he has a point", who seemed to think that it was laughable, something isn't quite right, and that PF should be fired if this doesn't get over the line, led me to think you were on his back. Maybe I misunderstood, but usually calling for someone's head isn't generally seen as a measure of support.
Of course concluding Tema is crucial to the SP. But what is the point of giving an expectation of timing that they cannot control? I'm sure the BoD do have a reasonable view of the expected timing, but as they cannot guarantee it, nor influence it, what's the point in setting such an expectation? Maybe you won't complain if it is missed, but there are plenty that will seek to spin that as a failure on the part of PF and the BoD if that does happen, even if it is out of their control.
Feeks even back on the day Tema was announced, PF said he didn’t know whether it would be completed within 30 days. The LOI said they should aim for 30 days, but clearly the issues between MPS and GPHA weren’t anticipated to have gone on this long,
You crucify PF because he said hopefully 30 days and it didn’t happen. So now you want him to give another date that isn’t within his control. What’s the point in that? And what will be your reaction if MPS and GPHA don’t settle their differences by then? No doubt you’ll be on his back again. He has already told you we are the sole appointed operator, that we have been doing the job for 6 months and are getting paid on account.
You’re not going to get a blow by blow analysis of the contract details because they are commercial sensitive, and you’re not going to get fanfares of how much it is worth when there are issues between MPS and GPHA over the fees being charged. Surely you can see that would be a stupid thing to do?
Quite possible Bigears. If I recall correctly that was the port that had a security tender open on the link Novice posted on 10 November.
This is from the most recent one Feeks
“ We are pleased to note that the ongoing discussions between Meridian Port Services and the Ghana Ports and Harbours Authority are close to being finalised which will allow for our contracts to be formally exchanged, albeit this is a formality given we are already appointed and operational”
Pretty explicit to me.
This from 18 Nov RNS
“.... receiving payments on account for work undertaken, whilst awaiting formal signing of contracts to be completed once certain financial arrangements between MPS and GPHA had been put in place.”
And then there is 18 Sept RNS
“The various contractual arrangements between all the different parties, MPS, Scanport, Westminster and support contractors, are agreed in principle and Westminster is pleased with the outcome. Contracts are due to be signed once certain financial arrangements between MPS and the port authorities have been put in place, which are in the process of being finalised”
Not very vague to me. Fairly explicit we are awaiting negotiations between MPS and the port authorities to complete first. Why do think they are vague?
My optimism hasn’t evaporated one bit. I just want to know what Phil or even you for that matter would have done differently as you appear to be so critical.