This was a £371k contract won in October (not RNS) with TfWM. It is for 3% of TfWM's displays that need renewing because they are end of life. JNEO has low customer concentration and yet this single renewals project if you gross it up to 100% of the estate that needs renewing could be £12.4m of purchase orders in time
"So that’s a P/E of around 7 with half the market cap in cash. One of the cheapest stocks on a historical multiple, and pretty much the same as gold miners who operate in high-risk political climates. i.e. just bonkers cheap. Especially, having already returned a chunk of cash in the year." - https://smallcapslife.substack.com/p/small-caps-live-weekly-summary-cb3
This sale transaction is contracted to generate a material profit above book value. After repayment of associated debt finance the transaction is expected to release around US$33 million in net cash proceeds.
We believe that the market values for modern commercial aircraft are materially higher than our book values and we are experiencing favourable market conditions.
It's a long term winner imo. best in class broking, best in class research, best in class Sea technology platform. dollar weakness could benefit from reversing to support the stock a bit more