Share Name Share Symbol Market Type Share ISIN Share Description
Global Energy Development LSE:GED London Ordinary Share GB0031461949 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 16.25p 16.00p 16.50p 16.25p 16.25p 16.25p 44,500.00 07:54:01
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.2 -18.1 -44.1 - 5.87

Global Energy Development Share Discussion Threads

Showing 6701 to 6725 of 6725 messages
Chat Pages: 269  268  267  266  265  264  263  262  261  260  259  258  Older
DateSubjectAuthorDiscuss
19/1/2017
18:01
Sadly this one probably is. Amazing isn't it? Some companies short of money manage to multibag in share price. This one, supposedly which has stacks of cash manages to be the first company I am aware of priced at a 80% discount to cash. How does that work? Must mean the management are thick - or corrupt? I guess most folk must be feeling that their cash is being used to buy out the bankrupt assets of a large shareholder. Even for AIM - a scandalous sequence of events.
loverat
19/1/2017
11:57
Music interlude Everyone wang chung tonight https://www.youtube.com/watch?v=BoXu6QmxpJE Heading to 5p
larva
19/1/2017
11:56
I should have sold out last week..oh well..
anangf
19/1/2017
11:06
I sold out immediately on Monday's annoucement. Either the board are just doing whatever deals they can to keep the company staggering along or some might think, given the presentation of this deal, they are seeking to scare off the small shareholders. Either way I did not consider that this is a company I wanted to have my money in any longer. My real concern is that they de-list (why would a company with a £6m cap want a listing?) which will really hammer the share price and get rid of more shareholders. I lost 70% but sometimes you've just got to take the hit and move on.
alanrussell
19/1/2017
10:04
But there is no recourse for small shareholders.
anangf
19/1/2017
09:55
Board should be investigated IMO. Total destruction of shareholder value.
bigdazzler
18/1/2017
10:05
Management are maximising the pv of their income streams.
anangf
18/1/2017
09:50
Wow - not popped in here for a while. It certainly says something when this company has got muliples of cash to the MC and the share price falls to this level. Tells me that the acquisition of assets was about the worst possible deal ever on this market. Either that or the deal has been misunderstood. I won't be reinvesting/trading in this - at least until things become clearer or the share price falls to a trading opportunity scenario. Looks terrible and almost as if the management are trying to wreck any value.
loverat
17/1/2017
16:47
Want to make some dosh? http://uk.advfn.com/cmn/fbb/thread.php3?id=40296935
alamaison5
17/1/2017
15:55
this company doesnt look right! Check out family Values post on this, he has some interesting info on the people involved.
neo26
17/1/2017
08:57
My concern with this deal is that yes, oil will bounce but for long? As soon as GED get a charter they will have to invest significant amount getting the vessel back into service. Bound to be problems/unforeseen costs. How long the charter? To what extent will it cover these costs? I suspect these are short term charters. If they can charter out for 10 yrs then good deal!!! Then at the mercy of any oil price fall which will result in a pile of useless junk. Assume everyone voting against FWIW. The related parties have over 50% of total shares so should easily get 75% of actual vote. Also have you emailed GED? I have fwiw!
ghhghh
17/1/2017
08:32
Dead cat bounce.What price do they want oil to recover to?
neo26
17/1/2017
07:42
The average age of the transaction B vessels is 36 years. The Company is incurring non-recurring costs associated with the Transactions and the Admission process. The Directors are firm in their view that the Company will not take on uneconomic work in order to have its vessels in service. Accordingly, it is likely that the vessels will remain inactive for a considerable period until the oil price recovers and exploration and production operations return in the shallow water areas of the Gulf of Mexico. The Company will continue to incur maintenance and docking costs which may not be covered by its earnings while the vessels remain inactive. The Company's strong cash balance will enable it to adopt such an approach for the foreseeable future. Upon a recovery in the market, Global will determine in what order it will put its vessels into service (if at all). DIVIDEND POLICY The Company has not to date paid any dividends and has no current plans to do so. Under the terms of the Convertible B Loan Notes and the Convertible C Loan Notes while any of such notes remaining outstanding the Company shall not declare or pay any cash or share dividends to be paid to its shareholders for three years following the issuance date of those Notes. RELATED PARTY TRANSACTIONS Everest and Everest Vessel Holdings are affiliated companies of the Quasha family trusts which also have an interest in Lyford, an existing shareholder in Global. Alan Quasha, the proposed seller of Everest Vessel Holdings is a principal beneficiary of the Quasha family trusts. Alan Quasha is a director of HKN, the Company's principal shareholder. In addition, Alan Quasha's brother, Wayne Quasha, controls Everest which itself controls Lyford. HKN, Lyford and the parties acting in concert with it are interested in 22,553,406 Ordinary Shares, representing 62.45 per cent. of the issued share capital of the Company. By virtue of these holdings, the entry into the Transaction Agreements with Everest and Alan Quasha and the amendments to the Everest Loan Note and issuance to Everest and Alan Quasha of Convertible Loan Notes constitute related party transactions in accordance with AIM Rule 13.
gbill11
17/1/2017
07:34
The average age of the transaction A vessels is 40 years "The Transaction A Vessels, are currently in laid up status and can be placed in service in mid to shallow waters following dry docking and improvement works. Global will assess current and future market conditions along with costs of improvement works, expected return on investment and related timing for dry dock improvements to these vessels in order to determine the proper time to put the Transaction A Vessels back into service to operate profitably."
gbill11
16/1/2017
23:36
GED: Number of shares issued: 36m + 33m = 69m x $0.204 (price per share) = $14,076,000 Cash in the bank 21m + new loan (just say 21m for now). So, 21m in the bank minus 14,076,000 it gives a difference of $6,924,000m. Meaning that right now the company is valued at $7,000,000 less that if has in cash, lol. Which is 33%. No bad for a discount. Also, millions of $ will be added to this valuation (loan) when the deal is done... If the 35% holder was to buy any more shares (1%) it will able to make an offer. Won't be a bad deal wouldn't it?
alamaison5
16/1/2017
20:05
Haha! An offer on the cheap hey? HKN’s holding represents 35.5 per cent. of the Company’s voting rights and therefore, were HKN to acquire further Ordinary Shares which increases the percentage of shares carrying voting rights in which they are interested, they would be required to make a mandatory offer under Rule 9 of the Takeover Code. Done deal? No quite dear and deers, lol. 75% needed. Set out at the end of the Admission Document is a notice convening a General Meeting to be held on Wednesday 8 February 2017 at 9:00 a.m. (GMT) at the Company’s registered office at 3 More London Riverside, London SE1 2AQ at which the Resolution will be proposed as a special resolution which to be passed will require a majority of 75 per cent. of the votes cast to be in favour of the Resolution.
alamaison
16/1/2017
20:02
Haha! An offer on the cheap hey? HKN’s holding represents 35.5 per cent. of the Company’s voting rights and therefore, were HKN to acquire further Ordinary Shares which increases the percentage of shares carrying voting rights in which they are interested, they would be required to make a mandatory offer under Rule 9 of the Takeover Code. Done deal? No quite dear and deers, lol. 75% needed. Set out at the end of the Admission Document is a notice convening a General Meeting to be held on Wednesday 8 February 2017 at 9:00 a.m. (GMT) at the Company’s registered office at 3 More London Riverside, London SE1 2AQ at which the Resolution will be proposed as a special resolution which to be passed will require a majority of 75 per cent. of the votes cast to be in favour of the Resolution.
alamaison
16/1/2017
19:54
https://markets.ft.com/data/equities/tearsheet/profile?s=GED:LSE
alamaison
16/1/2017
19:38
Alan Quasha Chairman Mr. Alan Quasha founded Quadrant and is responsible for managing investments and overseeing the firm. He is also a Managing Partner and Co-Founder of Vanterra Capital. Mr. Quasha serves on numerous boards and is also on the investment committee of Trilantic Capital Partners Fund IV, and member of the General Partner and investment committee of Vanterra Transformative Energy & Materials Fund I, L.P. He is also the Co-Chairman of Carret Asset Management, LLC and Chairman of Brean Capital. During his extensive career, Mr. Quasha has invested in hundreds of companies in the U.S. and emerging markets. Many of these investments were restructuring and turnaround situations involving significant hands-on operating experience. He served as a Director of Richemont SA from 1988 until he joined the Board of Compagnie Financière Richemont SA (a world leading luxury goods company). He currently serves as a Director of The Fullbridge Program and the Ackerman Institute for the Family. He is also Chairman of HKN, Inc. (a publicly traded independent oil and gas company), and Chairman of the Brain Trauma Foundation. He was a past Director of American Express Funds and a former Governor of the American Stock Exchange. Mr. Quasha holds a bachelor’s degree from Harvard College, an MBA from Harvard Business School, a Master of Law degree from New York University Law School, and a Doctorate of Law from the Harvard Law School.
alamaison
16/1/2017
19:35
4) On the 8th of Feb share holder will take a decision regarding this transaction. If rejected, possible, you will see a bounce. Are they serious or is it just a game, hummm.
alamaison
16/1/2017
19:30
Read the RNS again: 1)Transaction A Vessels Mystic Viking Built in 1983, the Mystic Viking is an offshore supply vessel, fitted with a SIMRAD Dynamic Midnight Star Built in 1975 and refurbished in 2011!!!, na, USA as designated by Global. Cal Diver 1 Built in 1974 and refurbished in 2013!!! 2)Acquisition of the Transaction B Assets from DCM – The Foreclosure Process Everest is also the holder of 76.5 per cent. of the issued shares in Deepcor Marine Inc. hxxp://www.deepcormarine.com/vessels.aspx 3)Everest is an affiliated company of the Quasha family trusts, which also have an interest in Lyford, an existing shareholder of the Company. Alan Quasha is a principal beneficiary of the Quasha family trusts. HKN Inc., the Company’s principal shareholder, Lyford and its parties acting in concert with it are interested in 22,553,406 Ordinary Shares, representing 62.45 per cent. of the issued share capital of the Company....................
alamaison
16/1/2017
19:30
alam we know your here for the bounce of a couple of pennies! No point here, this company is dodgy imho.
neo26
16/1/2017
19:04
30% sell off on the news today. Someone was buying stock last week..well they should have waited. You have to hand it to the board...they can sit around and continue this farce now as a result of the new strategy. It is truly sickening but I have learnt a life lesson here.
anangf
16/1/2017
18:57
Scarp metal, lol? On a serious note: There is to it, more more to come. Just seat and wait...
alamaison
16/1/2017
16:44
Family Values28 Aug '16 - 10:38 - 2762 of 2831 0 0 I forget to mention the option to buy 2 laid up 40 year old ships. interesting point raised by FV last August
opodio
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