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SRT Marine Systems – placing “to provide working capital”, why the massive discount then?...

Previously writing on SRT Marine Systems (SRT), in January with the shares up to 47p I noted interims having shown a more than £3 million loss on revenue of £4.7 million, with a swing to a £1.4 million net current liabilities position and also £1.7 million of non-current liabilities and that I retained caution HERE. Now the company’s “pleased to announce… concluded its Bookbuild process, successfully raising gross proceeds of £4.9 million through the placing”. So what about a more than 11% share price fall to 34.25p in response?...


SRT Marine Systems – another trading update it is “pleased to provide”, but...

SRT Marine Systems (SRT) “is pleased to provide a trading update for the six months trading period ended 30th September 2020”, including “as expected, during the first half of this financial year, all revenues were derived entirely from the transceivers business due to there being no system business project milestones completed during the period… Unexpectedly given the Covid-19 pandemic, revenues for the transceivers business were 6% ahead of the same period last year, with the second half looking positive”. Sounds good...

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