SRT Marine Systems – major ‘insider’ waited for contract news before buying even more shares at up to 79.27p a share, last Friday and Monday, shares now 81p, TP 150p

Mark Watson-Mitchell - 23.09.2025

In a convincing move of confidence in exactly where the group is going, it has just been announced that Oliver Plunkett, a Non-Executive Director of SRT Marine Systems (LON:SRT), purchased 170,000 ordinary shares at an average price of 78.76 pence per share.

The purchases occurred on Friday 19^th September and on Monday, 22^nd.

Following this transaction, Mr. Plunkett now holds a direct beneficial interest in 595,000 ordinary shares, representing 0.23% of the company's issued share capital.

However, he also has an indirect beneficial interest, via the Ocean Infinity Group of which he is the CEO, in a total of 38,114,154 ordinary shares, some 15.17% of SRT's issued share capital.

The Business

SRT Marine Systems is a global company which develops and provides integrated maritime surveillance, monitoring, management and safety systems used by coast guards, fishery authorities, infrastructure and vessel owners for the purposes of managing and controlling their maritime domain. 

Applications include security, safety, search & rescue, law enforcement, fisheries management, illegal fishing detection and environment monitoring. 

The Latest Contract

It was only last Thursday, the 18^th, that the group announced that it had received formal notification of a new system contract award from a sovereign customer, expected to be worth approximately $200m.

This contract, subject to project contract completion and financing, will provide a maritime surveillance system to address maritime domain challenges.

Once active, the new contract will add to the company's existing active contract book of approximately £330m, which is currently being implemented for five sovereigns.

The award stems from the company's £1.4bn validated sales pipeline.

Market Reaction

In response to this piece of bullish news, the group’s shares hit 82p, before easing back to 81p as I write, capitalising the group at around £206m.

They were trading at 68.25p last Thursday ahead of the contract news.

That Plunkett has paid nearly 16% higher than that price can only be seen very positively.

My View

These shares are going even higher yet – with 100p then 150p being my price objectives.

(Profile 14.09.20 @ 39.50p set a Target Price of 50p*)

(Profile 10.11.23 @ 39.75p set a Target Price of 60p*)

(Profile 25.04.24 @ 22p set a Target Price of 35p*)

(Profile 03.09.25 @ 80p set a two-year Target Price of 150p)

Asterisks * denote that Target Prices have been achieved since Profile publication.