Gulf Marine Services Share Discussion Threads

[ricky46] 27/3/2014 18:02

Bought some of these today, I never even saw these advertised, just read the prospectus these look excellent value.... A few months ago it said these were planning on a $1 billion plus listing so they've gone away cheap got to get to £2 quick I reckon

[tanneg] 24/3/2014 18:48

Nice write up by Robbie Burns today :-

"However my favourite new issue is Gulf Marine Services (GMS)
Looks like the only obviously cheap new issue. It's oils services and I wonder if it could become like another Kentz. I was quite surprised at being able to buy somewhere near the issue price and got most of mine around the 148-151 area.
I intend to sit on these and hoping for at least 50% upside in time barring a market crash".

[koolio] 24/3/2014 12:00

Could someone please explain the over allotment, not sure does it mean that they raised more funds?

The sale of existing shares is expected to raise 98.8 million pounds for the shareholders if no over-allotment is excercised

[sagarn] 21/3/2014 14:07

Anyone aware when the next update from the company is? Thanks!

[tanneg] 15/3/2014 14:31

I'm no expert but figures seem to stack up - I quoted PBT in £ instead of $ but shares still look good value.

[simon gordon] 15/3/2014 12:25

tanneg,

2013
T/O - $184.3m
PBT - $73.3m
PAT - $69.4m

Shares now in issue 349.6m

$69.4m divided by $1.67 = £41.5m divided by 349.6m = 11.8p at 135p = 11.44x.

Bank debt - $254.3m
Finance leases - $83.1m, presume this will be lower after buying the Keloa lease.

I expect debt will increase as they scale up from 9 to 16 rigs.

By 2017 the p/e could be on a low single digit.

Do the above figures stack up?

[tanneg] 15/3/2014 11:47

This seems incredibly cheap or am I missing something? - market cap £472M pre tax profit £73.3M eps 41p.

[simon gordon] 14/3/2014 21:42

GMS targets $100m shares boost

17/02/2014

Abu Dhabi-based jack-up operator Gulf Marine Services is targeting an injection of $100m through a flotation on the London Stock Exchange.

The company, which offers services to offshore wind farms as well as the oil and gas sectors, is targeting an expansion to keep pace with "high demand".

GMS currently operates a core fleet of nine vessels, seven of which it owns and two of which it leases, and plans to add six more vessels over the next three years.

It expects to use the net proceeds from the initial public offering to buy the lease vessel Keloa for $37.5m and repay around $20m in "existing shareholder loans". The remaining funds will be pumped into a newbuild programme.

GMS chief executive Duncan Anderson said: "Our vessels are in high demand by our clients and we believe demand for our vessels, and for the market as a whole, will continue to increase significantly over the rest of the decade.

"This gives us confidence to proceed with the planned expansion of our fleet, which the net proceeds of the IPO will help to accelerate."

[simon gordon] 14/3/2014 21:40

Gulf Marine Services PLC ("GMS" or the "Company"), the operator of one of the largest independent self-propelled Self Elevated Support Vessel ("SESV") fleets globally with a focus on the MENA region and Northwest Europe, today announces the pricing of its initial public offering (the "Offer").

GMS, which is headquartered in Abu Dhabi, operates a core fleet of nine SESVs which are four-legged self-propelled vessels with a large deck space, crane capacity and accommodation facilities that can be adapted to the requirements of the Company's clients. These vessels support GMS's clients in a broad range of offshore oil and gas platform and wind turbine installation, refurbishment, well intervention and maintenance activities.

~The offer price has been set at 135 pence per Ordinary Share (the "Offer Price").

~Based on the Offer Price, the total market capitalisation of GMS at the commencement of conditional dealings will be approximately £472m.

------

Admission Document:

[made1686] 28/4/2009 23:09

what was the two company did this became

[sandbank] 03/6/2004 13:56

Is GMS now effectively a shell company which could be reversed into?

[trigsta] 30/4/2004 09:06

finally shes dead

[bionicdog] 07/3/2004 12:07

yes , but it was already on the other thread with the proper epic GMN doh!

[p@] 06/3/2004 12:16

bio put it back its interesting to gmn shareholders.

[bionicdog] 06/3/2004 12:11

it's not my fault. i put the wrong ticker in :o(

[p@] 06/3/2004 12:09

Too add yet more information to BIONICS post investors should be aware that the Canadian TSE issued shares in MRL (Jan 04)at can$0.35 aprox 13p by my calculations! Read posting on MRL bb.........d.y.o.r.

[bionicdog] 06/3/2004 12:01

oops sorry

[spacetomato] 02/3/2004 16:58

maybe now it is time to get in?

[mr blibby 1] 02/12/2003 14:48

LOOK AT "SPD" - Look at the charts, look at the trades, and the news. market cap under £1m - screaming buy.

[wobblechops] 02/12/2003 14:47

It looks as though the best gold minds in the industry maybe interested in GMS
through a possiable merge with Full Riches of Canada.

Endeavour Mining invests in Full Riches

Endeavour Mining Capital Corp EDV
Shares issued 23,120,578 Nov 20 close $3.80
Fri 21 Nov 2003 News Release
Also (FIL)
Mr. Bill Koutsouras of Endeavour reports
ENDEAVOUR ACQUIRES SECURITIES OF FULL RICHES INVESTMENTS LTD.
Endeavour Mining Capital has acquired 150,000 common shares in the capital
of Full Riches Investments from treasury at a deemed price of 10 cents per
share in connection with certain services provided to Full Riches by the
company in providing a bridge facility to Full Riches. As a result, the
company now owns 1.21 million common shares of Full Riches, representing
approximately 10.07 per cent of the currently issued and outstanding common
shares of Full Riches.
In addition, pursuant to a private placement of Full Riches of 25 million
special warrants at a price of 10 cents per special warrant on Oct. 27,
2003, the company acquired 3.75 million special warrants of Full Riches,
representing approximately 15.00 per cent of the company's currently issued
and outstanding special warrants. Each special warrant is exercisable to
acquire, for no additional consideration, one common share of Full Riches.
Assuming the exercise of all of the special warrants of Full Riches, the
company would hold approximately 13.40 per cent of the issued and
outstanding common shares of Full Riches.
The company has acquired these securities for investment purposes only. The
company does not act jointly or in concert with any person or company in
respect of ownership of securities of Full Riches. The company reserves the
right to acquire additional securities of Full Riches or from time to time
to dispose of securities of Full Riches held by the company as market
opportunities exist or develop.
WARNING: The company relies upon litigation protection for
"forward-looking" statements

[wstirrup] 16/10/2002 12:23

Hi Crazi..I hear that the Japanese are going mad for gold at the moment due to the Banks there being at death's door..Perhaps the MM's are just hiking anything that says GOLD in them their tills, or with new large deposits....(excuse the pun)

W