We would love to hear your thoughts about our site and services, please take our survey here.
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.
Are they? really? volumes look fairly low at the moment to me. I'm not sure that we are seeing vast droves exiting, more like a lack of buyers causing the price to drift lower.
Yrabs, I don't know and don't really care to be honest who actually has to sign it off. Surprised that knowing that means that much to you. At a guess I'd probably say some sort of public accounts committee, or maybe its the President, or his ministers? who knows , but it really doesn't matter to me. Yes frustrating that it takes that long , but that's Africa. If you're not prepare to accept that, you'd be better investing in company that doesn't focus on emerging markets.
Why don't they sign it off prior to the contract signing? A fair question, wondered that myself. Maybe - and it is only a guess, maybe they want to see exactly what is written in the contracts they ratify before making a decision to ensure that nothing else creeps in to any of them afterwards, that would seem sensible to me, but whether that is the answer I don't know, nor do I really care.
Why did Pete and the client go for 3 months? I don't know. Maybe he asked how long it would take and that was the answer he received? maybe it was his best guess because no one could tell him? maybe that was the earliest time we would be ready to commence operations? Not everything is certain in life, again if you cant handle that, best not to be investing in a company that focuses on emerging markets.
But Yrabs you haven’t answered my question. It was a fair one to ask. You’ve stated that you would prefer him not to have RNS’d it before ratification and I am asking if you would have been happy in the event you had decided to sell on the basis of a lack of news only to find out that a contract had been agreed and signed before you sold. Your refusal to commit that you would have been happy very much suggests that you would have been unhappy, I know I would have been in that situation, as I viewed it as material news even though there was a further hurdle to go. With the information it is then my choice whether to take Pete at his word or not and decide what the potential risk (if any) of ratification not taking place is.
So given that you have stated that he should have waited for ratification but it seems that you would have been unhappy had you not had that information prior to making a decision to sell, it appears that in your books Pete was in a no win situation and you just want to throw bricks at him whatever he does.
I guess you’re one of those that if someone gave you a gold ingot you’d probably just complain that it was too heavy.
Okay that’s fair enough Yrabs - you clearly prefer for it not to be RNS’d. Let me ask another question and answer honestly. If you had sold in the period between contract signing and ratification taking place and had subsequently found out there was finally a long awaited contract signed that you knew nothing about albeit that it hadn’t been ratified would you have had any complaints that you had sold not knowing a contract had been agreed and signed?
Yrabs - a question for you
Would you have preferred that Pete hadn’t RNS’d the DRC until ratification had taken place so that you wouldn’t have any concerns about any delays? Or RNS’d as he did once signed?
That didn’t post very well so here goes again
Back in Jan I posted this selection of fortnightly numbers from Lunghi
Date PAX Flights
16/9 - 30/9 3131 19
4/10 - 18/10 3310 29
20/10 - 1/11 3043 24
9/11 - 23/11 3616 27
11/1 - 25/1 3482 22
Just took a look at current numbers
22/8 - 5/9 PAX 9151 Flights 59
These are arrival numbers and the PAX include passengers transiting through Lunghi so hard to work out exact numbers to base WSG revenue on, but it does show the scale of recovery with nearly 3 times the number of flights and passengers since Q4 last year.
Back in Jan I posted this selection of fortnightly numbers from Lunghi Date PAX Flights 16/9 - 30/9 3131 194/10 - 18/10 3310 2920/10 - 1/11 3043 249/11 - 23/11 3616 2711/1 - 25/1 3482 22Just took a look at current numbers 22/8 - 5/9 PAX 9151 Flights 59These are arrival numbers and the PAX include passengers transiting through Lunghi so hard to work out exact numbers to base WSG revenue on, but it does show the scale of recovery with nearly 3 times the number of flights and passengers since Q4 last year.
Good to see you too Mike, along with Martyn, HB & Malcolm. It was an excellent day out at HQ, well worth the effort. 2022 - bring it on!! :-)
I’ll be there Mike. Also, I thought it was 20+ dignitaries from overseas countries going?
Absolutely AIMing, forecast cashflow in 2022 is £4.1m, that is after any expenditure on the existing MSCs. So hopefully we will be able to fund additional MSCs internally. Of course, if we manage to land something off the scale, then that might not be enough, but at least, as you say, we’d be raising at a far higher level then.
So funny, you can feel the desperation in Vander’s posts, trying to make a 20 year $0.5bn contract seem like a bad idea lol.
Sounds like it will be a big deal, with ambassadors and high commissioners from over 20 countries pitching up. A superb opportunity to showcase the services and products we can provide.