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

By Steve Moore | Wednesday 24 April 2024

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

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?
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