Fisher (james) & Sons Share Discussion Threads

[1aconic] 29/12/2021 14:52

Illis - isn't it likely that the settlement would form part of seperately disclosed items anyway and therefore not in the underlying EBITDA figure that guidance is given for? It might be the case that it's just be the ongoing costs (that will now be agreed will be covered) that would no longer be a hit to underlying EBITDA going foreward.

[illiswilgig] 29/12/2021 14:46

Thanks Roddie,

thats my reading as well. Backed up by some googling and it looks as if there is a lot of good will in Southern Africa to get the project back on track again.

Good luck all and here's to a prosperous 2022 - resurfacing if not flying!

cheers

[1aconic] 29/12/2021 14:44

As I said when the CEO put 100k of his own cash in at the start of November, the probabilities of the covenants being breached doesn't seem anywhere near as high as the market is pricing in.

We've now had two concrete steps away since then and hopefully that sets us on the road to a brighter place. Even so, we're still well below the 420p that he was willing to stump up. If the market stops pricing this for death, today's move should hopefully look like buttons.

[illiswilgig] 29/12/2021 14:44

'Does anyone know what they were due under this contract?'

No Elsa I don't - I expect that the sums that they settled for are subject to an NDA. I'd be surprised if not!

As they've not increased the ebitda range from 27-32m I'd guess that its less than 5m and in the range £2m-£3m in terms of cash to be received now - with maybe more for 2022 - but more likely a resumption in operations in 2022 which would be much better news.

cheers

[roddiemac2] 29/12/2021 14:35

illis,

"Seems likely there is some movement on the project to cause that?" Yes, it looks like FSJ may be dealing with a postponement , as opposed to a cancellation.

A happy and prosperous New Year to you and all other holders.

[elsa7878] 29/12/2021 14:26

Does anyone know what they were due under this contract? Thanks

[hamhamham1] 29/12/2021 14:20

24 months ago this was 2055p

[r2oo] 29/12/2021 14:18

Looks like a pretty strong rebound, this will also squeeze out the short sellers.

[hamhamham1] 29/12/2021 13:37

Bit of resistance at 396p, but then clear though to double that.

[roddiemac2] 29/12/2021 11:21

Emeraldzebra,

I have sent you two messages.

[roddiemac2] 29/12/2021 11:10

hybrasil,

It is a simple choice. You buy some now , conscious of the risks, or you wait until results are out towards the end of Feb next year. If the news is good then , it will not be too late to buy.

[hybrasil] 29/12/2021 10:52

Ok so I missed the bottom. That news on covenants is excellent. Do I still buy?
Mmmmm!

[hybrasil] 29/12/2021 10:52

Ok so I missed the bottom. That news on covenants is excellent. Do I still buy?
Mmmmm!

[our haven] 29/12/2021 10:16

R2oo. Very good news indeed. Share price reacting accordingly I am pleased to see.Good be a great boost for 2022 sentiment.

[r2oo] 29/12/2021 10:13

Finally, some well overdue good news for FSJ.Mozambique updateJames Fisher and Sons plc (FSJ.L) ('James Fisher', 'the Group'), the leading marine service provider, today confirms that it has received all outstanding funds relating to the suspended LNG project in Mozambique.-- The funds received reduce net debt and provide further headroom against the Group's year-end banking covenant tests.-- The Group has settled all outstanding claims in relation to the suspended LNG project in Mozambique and accordingly has withdrawn its arbitration proceedings.-- The agreement settles claims in relation to work performed before the suspension of the project and covers the Group's outgoings in relation to costs incurred during the suspension of the project in 2021.-- The terms of the settlement also cover the Group's costs through 2022 in the event that the project does not resume in the short term.

[emeraldzebra] 28/12/2021 09:41

Happy Christmas one all all. All the very best for 2022. Roddie - i sent you a PM - which hope you received (?). E

[bouleversee] 23/12/2021 19:45

Let's hope so. Here's to a happier new year from all p o.v.

[soleman1] 23/12/2021 19:00

Don't want to call it too soon but a little bounce and reversal on the weekly, might have put the bottom in.

[wigwammer] 21/12/2021 15:31

With respect, if they bought large quantities of this dog at multiples of the current price, I'm not blown away by their capability. But every dog has its day. ATB

[bottomfisher] 21/12/2021 14:27

Montanaro is one of the smarter fund managers around. Their exit is hardly reassuring.

[wigwammer] 21/12/2021 14:17

The bottoming could be a result of Montanaro nearing full exit from their position. FSJ will likely be a small position for them and perhaps a new FM just wants rid. They had 1.47m shares left at end of November. Looking at volumes, I'd guess there has been around 2m traded since then, so should be a long way through it by now. Perhaps FSJ are looking to raise money, but examining the financials I really don't think they need to - covenants frequently get broken - doesn't mean lenders will enforce nasty measures if they are confident they are lending against a decent business. And this looks like a decent and diversified business IMO

[illiswilgig] 21/12/2021 12:00

hybrasil - Yes. I agree - I knowingly pushed the button too early. It was as I say, something of an experiment,

cheers

[hybrasil] 21/12/2021 11:57

The tu was in October which precipitated the fall from £8. At £4 it rose briefly for a few days but that proved to be a dead cat bounce. Im still waiting to buy