Member Info for Only1Gibbo

Interesting find HB.

"the market is acting like a placing has been set and Lungi is shut....both those things might happen, but they're not a certainty and so over priced in...for me."

Absolutely AIMing, it's also worth bearing in mind that the landscape is very different to last year. When Lungi shut down in March 2020, there were no commercial testing capabilities, so the only option that countries had to try and halt the spread was to shut borders. The development of testing capabilities now provides the option of being able to screen passengers prior to travel and/or on arrival. Countries also have quarantine facilities set up, since September all unvaccinated passengers flying into Lungi have been required to quarantine. The UK Gov website sets out the requirement for Sierra Leone.

From 27 September 2021, all unvaccinated passengers traveling into Sierra Leone will be required to undergo mandatory quarantine until you have proof of a negative PCR result. Vaccinated travellers will be allowed to self-quarantine at home whilst awaiting the result.

Before travelling Sierra Leone, you must get authorisation from the Government of Sierra Leone through the online portal.
To get authorisation you must have:
-proof of a negative PCR COVID-19 test result no more than 72 hours before the departure time of your flight to Sierra Leone;
-a pre-departure public health passenger locator form; and proof of payment for on arrival COVID-19 tests paid for through the portal. Arrivals whose stay in the country does not exceed 5 days do not require to be tested again before leaving the country. However passengers are required to request a certificate of the negative PCR test result that was administered to them when they arrived in Sierra Leone.

Testing on arrival
On arrival at Freetown Lungi International airport, all passengers are required to have both a COVID-19 PCR and RDT test (in addition to the negative test result required to get authorisation to travel to Sierra Leone). If you test negative for the RDT test, you’ll be allowed to leave the airport and to travel to your final destination, where you must observe public health protocols while you wait for the result of your PCR test (which is expected to take no more than 48 hours). A health locator form with contact details must be completed.

Obviously there is no certainty, but testing capabilities and quarantine facilities mean that border closure isn't a foregone conclusion even if the new variant proves to be of more concern.

I see DHC is still pumping Cineworld

No idea why being an armchair CEO makes you think you can run WSG better than Pete Yrabs, because every time I've asked you for what you'd do if you were CEO you're totally bereft of any ideas. But hey-ho, let's give it another try. You're CEO of WSG Yrabs, what strategic decisions are you going to take next week?

Charge is registered at CH if you want to know.

"It amazes me that PF wont mention bank facilities in updates but would mention them in emails to certain individuals"

Maybe you need to actually read the RNSs then Shaml. Here's a direct quote from the RNS issued on 30 April 2021

"32. Events after the Reporting Period

In February 2021, Clydesdale Bank PLC trading as Yorkshire Bank offered the Group an overdraft and other banking facilities. As a condition of these facilities the Company entered into a multilateral charge and guarantee in respect of bank overdrafts and other facilities of all companies within the Group."

Well the COVID recovery scheme wasn't available last year and the year before that no one had even heard of COVID let alone put a recovery scheme in place. If you don't believe that they have bank loan and overdraft funding available, you can always confirm it for yourself at Companies House.

Don't forget Ian we also have access to loan and overdraft facilities from the bank now. Plus there are other finance options that may well be available to us now too, such as the Covid recovery scheme which up until the end of the year will provide loans or asset financing of up to £10m (£2m from 1 Jan).

In fact Yrabs, the Dec 20 Arden note showed forecast tech sales for 2021 of £7.8m, so you can hardly say it had never been mentioned.

No Yrabs you are wrong, the house broker had provided forecast data based on information from the Company, that was out in the market, so as soon as that varied, the NOMAD and broker would have insisted that the market was updated. If you had looked at the forecast provided it was obvious that a tech contract was included within it by simple means of deducting the revenues we have at Tema & SL and then deducting the expected revenues from September for Liberia and DRC. There was a big gap, so that either had to be another huge MSC or a tech contract. On the assumption that an additional MSC would have also required a three month lead time to start up, its unlike one of those would have filled the gap late in the year. So that leaves a tech contract. It isn't difficult to work out. You don't have to be spoon fed everything.

Why didn't he mention it on the the TU? because it won't be part of the 2021 numbers and presumably hasn't been finalised yet.

"and would Pete issue a revenue warning [no point in a profit warning as we never make any].....if there was another monster contract round the corner." The answer to that Yrabs is obviously yes. The fact that it has been left so late in the day strongly suggests that there is a very large tech contract around the corner that they were hoping to receive and deliver prior to the year end. The difference as I am sure you already appreciate is that once it became clear that any such a contract could not be delivered by 31 December, they were obliged to inform the market. The NOMAD would have ensured that they did so as soon as that was the case. Will that preclude a tech contract being announced prior to the year end, of course not, it just means the revenue will now flow into early 2022 if they do finalise it.

Nothing to do with us Draft - it’s a different organisation to us

Yes fully agree Mike, I think it bodes very well, going out there for a six day trip suggests more than just a speculative sales pitch. I suspect that the report is pretty accurate with its 'advanced discussions' commentary. It certainly had a lot of detail around who was involved in the negotiations, so I suspect that the report is pretty accurate. I think it was Ian B that also posted recently that they were under a MAR. Maybe it relates to this? but as there is so much other stuff going on it could easily relate to one of the other projects and this one is further down the line. Who knows? Either way, I think 2022 will be a pretty special year for us. That said 2021 isn't over yet so hopefully we'll see a decent RNS or two before the year is out.

Thanks too to Vander for posting those articles earlier which confirm that there is nothing to worry about re the DRC appointing a new head of the RVA. Good find, keep them coming Vander.

I think it was today Mike

"If he was any good why didn't Gardaworld retain him in some capacity?"

Was reading all of the RNS too much of a challenge Jungle?

"Graham served for several years as Senior Managing Director of GardaWorld International Protective Services, and more recently as their senior advisor on strategic client relationships."

Yet after all that Yrabs you are still here , still holding, still buying. Doesn't really say much about you if despite all these apparent short comings you choose to still stay invested. You mention the ferry, when was that? checks notes..... 2016/7? at least FOUR years ago, and yet you are still here, moaning day in day out. I asked you a while back what you would do differently if CEO. No response as I recall, no ideas at all, just an endless monotonous stream of whinging posts.

Steve the reduction in nominal was used to create the deferred shares, they will be cancelled along with the share premium balance and will be applied against the accumulated losses.

Ye gods. There is no hope. A capital reduction is not a share consolidation nor a share buyback. It offsets share capital against accumulated losses by reducing the nominal value of the shares. The difference between old and new nominal is offset against accumulated losses to reduce them, thereby reducing the amount of losses that need to be covered by future profits before a dividend can be paid.

No we’re not writing off any assets. We are performing a capital reduction once it is approved by the High Court. This will of huge benefit to shareholders as it will enable the payment of dividends much earlier than without it once the DRC (and other) contracts are up and running.

No Yrabs don’t t think it has anything to do with that. If the market felt that way then you wouldn’t have seen the record volume on the announcement of DRC. And presumably you wouldn’t have bought more either?

Will they hit the year end numbers? I suspect not. They were clearly reliant on not only DRC starting on time but also one or more large tech deals landing. They may yet still happen in Q4, but to recognise the revenue in this period they will need to be delivered. That may still be possible but, but yes as time passes the likelihood of delivering tech equipment before year end reduces. But whether any such revenue gets booked in Dec or Jan it doesn’t really matter providing they win the contract and are able to deliver it. It just means that the forecast 2022 numbers are equally wrong but by an opposite amount.