Global Energy Development Share Discussion Threads

[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."

[alamaison5] 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?

[alamaison] 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 19:38

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....................

[neo26] 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.

[anangf] 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.

[alamaison] 16/1/2017 18:57

Scarp metal, lol?
On a serious note:
There is to it, more more to come. Just seat and wait...

[opodio] 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

[neo26] 16/1/2017 16:43

Family Values

Thanks it was your posts that put me off this company previously. Something is not right here..

Whats the point of buying these vessels which will just stay in the docks and rot!!

[alamaison] 16/1/2017 16:28

Count Size Price
4 10000 17
Ask Prices Price Size Count
17.5 3000 1
Time Market Maker Size Price
13:57:00 F 3000 17
16:08:00 F 2000 17
16:24:00 F 2500 17
16:09:00 F 2500 17
16:23:00 F 3000 13.5
Price Size Market Maker Time
17.5 3000 F 16:23:00
22 3000 F 13:57:00
22 2000 F 16:08:00
22 2500 F 16:24:00
22 2500 F 16:09:00

[alamaison] 16/1/2017 16:27

First tranche completed:

Share Name Global Energy Development PLC ORD 1P
Order Type At Best Buy
Account Trading Account
Symbol LSE:GED
ISIN GB0031461949
Settlement Date 18-01-2017
Trade Details
Quantity 11267
Trade Price 0.17495
Trade Date 16-01-2017
Consideration £ 1,971.16
Commission £ 10.00
Total £ 1,981.16

[family values] 16/1/2017 16:05

I posted quite a bit of history of the colouful characters involved here.

A good novel's worth.

[anangf] 16/1/2017 15:44

And to all those posters who were rejoicing at the yield on the loan....you were warned

[anangf] 16/1/2017 15:43

Some excellent information on this board but it makes me feel sick reading it.
Absolutely disgraceful.

[gbill11] 16/1/2017 15:35

I knew I had heard of Alan Quasha before but I did not know he was the same one that's involved with Global.


The piece by Russ Baker and Adam Federman argues that “notorious financier Alan Quasha” was a secret force behind the presidential campaign of New York’s Sen. Hillary Rodham Clinton.

Quasha’s involvement would be significant because he was the head of Harken Energy in 1986 when it bailed out Spectrum 7 Energy Corp., a failing oil company headed by George W. Bush. Harken is now known as HKN Inc.

The rescue of the company gave Bush some needed money and set the stage for his lucrative time as a managing partner of the Texas Rangers. After that, he became governor of Texas before becoming president.


Consequently, it would seem that a man who made the Bush presidency a Republican reality is now backing Clinton, a Democrat, for president.

[hugepants] 16/1/2017 15:06

I've just skimmed the details but this looks uninvestable. Cash burn will surely increase and the concert party still remains in control. And who knows how much these boats are really worth given they are related party transactions. Does anyone know the current spot price of rust?

[neo26] 16/1/2017 11:57

wtf scam alert.

run while u can..

[biggest bill] 16/1/2017 11:28

According to a post on lse, the average age of the ships is 37 years. They look worthless to me.

[spob] 16/1/2017 10:28

well spotted Gbill11

says it all really