RE: Reg Tech Open Project24 Jul 2025 13:13
TGTD, you don't get it. Defence contractors make to order, they don't just leave a dozen tanks etc in stock just in case. These are government contracts with specified orders and stage payments. For those beneath these contractors, ie the component suppliers, these are at risk of potentially having unsold stock and therefore not attractive to funders. And has been mentioned many times, these defence contractors are in a highly profitable sector and don't have the need for funding. Can you give us some examples of defence contractors that you believe would be interesting in Syme's funding (other than Tekne which would be forced to take it no doubt). And do remind me, what level of funding do Syme need to have in place to breakeven? Minimum of £100m?