Member Info for Only1Gibbo

Vander, I think every contract will be unique in terms of how long it takes for a foreign government to sign off. I think it is pointless trying to compare them. It'll depend on how urgent they see it and as to how efficient they are with their processes. For PF to have given the end of last year as an expectation, I'd say he believes that the client has a motivation to get it sorted for some reason. Maybe a new terminal opening which we will need to kit out for example.

Vander, as we only know too well, an MOU isn't the same as a contract, so until they sign a contract with Nampol, it isn't a done deal there. That said, I don't think that the deal we are currently hoping to sign is Namibia, I think it is east Africa somewhere as opposed to west.

Absolutely Vander, there are some that think the draft contract is just Pete listing his wishes for an agreement. I think it is quite significant that both PF and TB went out to see the client. I can't see them both going unless they were finalising an agreement. Recall that both of them went out to Iran together just before last Xmas when they thought they were going to sign the ME deal.

What stops it being signed in a short time frame? That will depend on two things: -
1. Whether every last detail has been agreed. From the wording in the RNS I believe that most likely everything is now agreed.

2. The client, who will no doubt have to go through some sort of internal sign off procedure once everything has been agreed. I suspect that is most likely what we are waiting for. In which case, an RNS could drop at any time.

That was Restrata, they signed a 6 month training contract in December 16, with National Falcon who look after Cairo and Sharm to provide training to 7000 staff. The announcement of the contract award was made in June 16, so it took 6 months to get to final signed contract stage, and that was just for a 6 month training gig. It just goes to show how long and drawn out these negotiations can be.

https://twitter.com/secpompeo/status/1083738281190273028?s=21

I am pleased to announce that the U.S. and #Poland will jointly host the Ministerial to Promote a Future of Peace and Security in the Middle East in Warsaw on Feb. 13-14. It will be a forum for countries to address a range of critical issues toward a more peaceful Middle East.

2014 - 934,337
2016 - 1,032,284

Gaynelly, you could well be right. One snippet of info I have suggests East Africa as opposed to West. Plus there was this from the RNS dated 5 June 2017:-

"In contrast, the East African airport opportunity announced in November 2012 and which has taken far longer than anticipated due to the government's own internal processes and various political issues unrelated to our project, is now once again quite active."

Plus Zanzibar has a new terrminal being constructed - From Wikipedia

Terminal 2
Construction of the second terminal started in January 2011 by the Chinese Beijing Construction Engineering Group. A new apron of 100,000 square metres (1,100,000 sq ft) will replace the existing 21,000 square metres (230,000 sq ft). The project is estimated to cost about US$70.4 million. On completion, it will have the capacity to serve up to 1.5 million passengers per year. The new terminal was expected to be operational in 2014, but construction work is still ongoing as of July 2018. Once completed, terminal 1 will become the domestic flight terminal.

Maybe the 5 year delay in construction has something to do with the delay in converting the MOU?

Slipperz, from Jun RNS " The contract is structured so that the effective date commences on the exchange of formal board letters between us and the client, which was expected to take place within 8 weeks of contract signing. The purpose of the exchange of letters is to allow both parties time to ensure everything is in place before commencing operations whilst giving both parties comfort that the contract was finalised, and terms could not be changed."

So the exchange of letters marks the end of the two month settling in period, not the start of it.

I wouldn't get too hung up on the March opening date for the new terminal either, it has slipped several times already.

We also know that the internal processes of the client are very bureaucratic and that there is an addendum to at least one of the contracts (probably both) that needs to be signed before letters are exchanged. So my guess is, when we are likely to exchange will probably depend on how far the client has progressed its approval process for the addendum / addenda.

https://www.tasnimnews.com/en/news/2018/12/26/1908354/iran-eu-reviewing-comprehensive-customs-agreement-report

Slipperz, I think that easily wins the WSG funniest titled post 2018 award.

Providing that the EU stands together, I can't really see what the US can do to stop it. Do you really think that the US could afford to sanction the whole of the EU? Sure it would cause economic harm to the EU, but it would to the US as well. Notwithstanding an ever looming trade war with China, I can't see the US taking on the whole of the EU. The US is also reliant on the use of Europe as a staging post for its armed forces. Its ability to conduct operations in the Middle East for example would be severely curtailed if unable to launch operations from the European mainland. I think the US would have too much to lose from picking a major fight with the EU.

https://www.tehrantimes.com/news/430651/25-airport-development-projects-under-study TEHRAN- Iran has currently 25 airport development projects under study and 45 ones under implementation throughout the country, Gholam-Hossein Baqerian, a board member of Airports and Air Navigation Company of Iran, told IRNA on Friday. He put the value of these projects at 6.5 trillion rials (about $154 million) and said that the underway projects are tried to be completed by the end of the current Iranian calendar year (March 20, 2019).

Oh and what makes you think that anybody else could easily resolve any issues that we haven't been able to as yet? They will all have the same supply chain. banking, finance and insurance issues that we have had. The difference being they will have to start from scratch working out how to resolve them.

No they won't Foxy. This is not the same set up as SL where we provide the full works including ground staff.

WSG will provide training, monitoring and compliance activities along with providing equipment. IKA is operational now, so they can obviously just as easily operate the second terminal without WSG. What they won't have however is the ability to train staff to western standards and ensure ongoing compliance to those standards. Likewise kit installed may not be the latest up to date equipment and therefore lack the detection capabilities of a western airport.

I suspect if they are opening a new terminal the aim would be for WSG to kit it out, however, it is not impossible for them to source alternative equipment (as they have done previously), they could even bring it in from other airports in the short term. The terminal has been scheduled to open several times before now, it is entirely possible that the delay may be connected, in which case the opening could even be delayed further.

Given the time to negotiate and agree a deal with WSG do you really think they could get someone else in at short notice? And if so who? who else is going to deal with Iran? The US won't. The Israelis won't. Neither will any other large corporate with US exposure.

https://www.tehrantimes.com/news/430466/France-Germany-agree-to-host-payment-channel-to-Iran

France and Germany have agreed to host the special vehicle purpose (SPV), a special payment channel created by Europe as part of its efforts to keep trade flowing with Iran in defiance of U.S. sanctions.

According to ISNA, the German magazine Wirtschaftswoche has reported it has been agreed that the related company be located in France and its director to be chosen from Germany.

The Wall Street Journal reported in November that British officials were also mulling over joining France and Germany in order to rescue the European attempt to circumvent the sanctions and salvage the 2015 nuclear deal with Iran following the U.S. withdrawal in May.

The move comes after Luxembourg and Austria, under the U.S. pressure, refused to host the SPV, with Luxembourg officials being warned that hosting the mechanism could damage the country’s place as a major financial center hosting many international investment funds.

Iran and the European side have been discussing ways to conduct non-dollar trade in order to offset the U.S. sanctions.

President Donald Trump withdrew the U.S. unilaterally from the JCPOA in May and ordered sanctions against Iran. The first round of sanctions went into force on August 6 and the second round, which targets Iran’s oil exports and banks, were snapped back on November 4.

Aiming, I believe the last RNS where it was mentioned was 21 September half year report (happy to be corrected). That stated "We continue to work towards signing at least one further long term Managed Services contract this year"

Thanks for posting Docit If I recall, you specifically asked about the second MOU, is that correct? If so, I think the statement "Our ambitions as previously stated remain in force. Should those expectations differ we would be obliged to update the market without delay via the Regulatory News Service." are encouraging given that we are now already in December.

Did I actually state that it was of direct and specific relevance to WSG? No? Thought not.

But what it does show, and is of interest from a general background perspective, is that a European court is prepared to order a major European corporation with significant US exposure to honour contractual commitments despite them being contrary to US sanctions. That, in my opinion, is useful background information to anybody that holds here. But I guess as you don't hold, that is probably why it is of little interest to you.

Oh and another thing whilst I'm here. Your clutching at straws statement suggests that you think we post all of our research on the board. A mistaken belief if ever there was one.

There was me thinking that it was fairly well established expectation (particularly amongst the WSG shorters) that large companies with US exposure would follow US sanction directives. Where have you been for the last seven months? Perhaps you should try harder to keep up?

Deutsche Telecom being the parent of T-Mobile, which operates in the US as T-Mobile (US) with over 70 million customers, in case you weren't aware.

https://www.tehrantimes.com/news/430125/German-court-rules-in-favor-of-Iranian-bank

TEHRAN – A court in Germany has ordered Deutsche Telekom, a partly state-owned telecom provider, to reactivate phone and internet service for the Hamburg branch of Bank Melli Iran, Press TV reported on Friday, citing Der Spiegel.

The German telecoms company abruptly cut off phone and internet services for Bank Melli Iran and two other Iranian banks earlier this month over doubts with regard to the U.S. sanctions on Iranian financial institutions.

The Hamburg district court ordered Deutsche Telekom to reactivate the services for Bank Melli, arguing that the justification was not sufficient for a termination without notice, especially as the bank has so far fulfilled its obligations and has sufficient resources.