#SRT Marine Systems – raises £16m at 82p per share, “up to” £1m “retail offer”

#SRT Marine Systems – allegations re. Philippines BFAR fisheries IMEMS project “formally and fully cleared and dismissed” by Philippine Courts

SRT Marine Systems – “New US$261m Maritime Surveillance Contract Signed”, how “new” and how significant?

From below a £194 million market capitalisation, SRT Marine Systems (SRT) has announced “New US$261m Maritime Surveillance Contract Signed”. What are the details of this, with the shares currently responding more than 12% higher to 87p?

SRT Marine Systems – “pleased to see” investigation “moving forward through the Philippine legal process”?…

Shares in company describing itself as “an established leader in the growing global market for maritime domain awareness” SRT Marine Systems (SRT) were above 60p this month until last week and yesterday fell further to below 50p. So what of now a “Response to reports in Philippine press”-titled announcement including that the company is “pleased to see” an investigation “moving forward through the Philippine legal process towards a clear resolution”?

#SRT Marine Systems – “Response to reports in Philippine press”, argues “pleased to see” investigation moving forward through legal process

SRT Marine Systems – argues now “significantly improved visibility over future financial performance”, but can it now deliver the ‘jam tomorrow’?

Maritime domain awareness systems and technologies company SRT Marine Systems (SRT) states that it “is pleased to provide a trading update for the 6 month financial period ending 31st December 2024” and what of the shares currently 4.4% up to 47.5p on the back of it?

#SRT Marine Systems – “notice to proceed” for “approximately $15m” second phase of a maritime MDA system for a national coast guard

#SRT Marine Systems – has signed and commenced implementation of previously-announced Middle East coast guard system upgrade contract

#SRT Marine Systems – fundraising to raise up to £8.5m at 35p per share

SRT Marine Systems – emphasises “landmark contract” signed, but to now deliver sustained net cash generation rather than ‘jam tomorrow’?

SRT Marine Systems (SRT) has announced it has now “signed a binding contract with the Kuwait Ministry of Interior worth US$213 million to deliver an integrated SRT maritime surveillance system. Implementation commences immediately”, which CEO Simon Tucker emphasises as a “landmark contract… huge honour and achievement for SRT”. What does it though mean from a current 45p share price?

SRT Marine Systems – “pleased to announce” contracts finance support package, but how sustained the ‘support’?

Maritime domain awareness systems and technologies company SRT Marine Systems (SRT) states that it “is pleased to announce that it has agreed a substantial investment and short-term finance bridge support package from existing shareholder Ocean Infinity, together worth approximately £31 million”. With the shares currently little changed at around 39.5p in response, how ‘pleasing’ really is the announcement?

SRT Marine Systems – “US$213 million new MDA system contract award”… which is not currently a finalised contract award!

SRT Marine Systems (SRT) has issued a “US$213 million new MDA system contract award”-titled announcement and, with a most recent closing market cap of just over £80 million at a 36p share price, what of a current 25% higher share price response?

SRT Marine Systems – having moved its year-end to be more favourable just three months ago, how’s its trading?…

Previously writing on SRT Marine Systems (SRT), in April I wrote including its “trading remains in line with market expectations” follows just last month deliveries slippage risk… so change of year end?!. So what of now a “Trading Update”?

#SRT Marine Systems – “longer than expected customer contract completion administrative processes” trading warning

SRT Marine Systems – “remains in line with market expectations”, what those which were recently downgraded? And now with possible problems in the Philippines…

A “Response to reports in Philippine press”-titled announcement from SRT Marine Systems (SRT) at 09:48 today commences “SRT notes the recent share price movement and reporting in the Philippine press with regard to the IMEMS fisheries project. SRT wishes to clarify that the IMEMS contract was won following a competitive international tender, which has been successfully implemented and is operational”. The noted share price movement that dare not speak its name was a fall yesterday from 29.5p to 24p and further early this morning, so what are the reports in Philippine press on the Integrated Marine Environment Monitoring System contract and the further details of SRT’s response?

SRT Marine Systems – deliveries slippage risk… so change of year end?!

Previously writing on maritime surveillance systems and navigation safety products company SRT Marine Systems (SRT), in June last year with the shares down towards 51p I noted cash flow and valuation concern and to continue to avoid. The shares most recently closed at 31.6p and now a “Change of Year End and Business Update”-titled announcement.

#SRT Marine Systems – changes its financial year to enable its tendering for certain new system contracts

#SRT Marine Systems – equity raise for up to £10.5m at 35p per share

#SRT Marine Systems – expects H1 pre-tax loss of £4.5m, argues “heavily” H2 weighted scheduled deliveries

SRT Marine Systems – following “pleased to advise” contracts news, discounted fundraise (natch!)

On 18th May maritime domain awareness technology company SRT Marine Systems (SRT) was “pleased to advise that it has signed a US$180million contract”, on 31st May there was “an open live shareholder webcast” and on 21st June the company was pleased to advise of a new follow-on system contract… and now “a proposed fundraising of up to £3.95 million”. Hmmm!