Gulf Marine Services Share Discussion Threads

[svenice7] 04/2/2019 11:54

Where did you get this info?

[2niffy] 04/2/2019 08:37

Horizon currently holds 21, 136,703 shares in GMS, and confirms that it intends to vote all shares infavour of the resolutions described in the announcement effecting such Board changes

[knowing] 01/2/2019 16:25

Oil moving strongly following the recent cuts and Venezuelan sanctions. Could well see more investment in the sector.

[knowing] 31/1/2019 16:24

Oh dear no stock but plenty of buyers

[knowing] 31/1/2019 16:15

I think if our friends don't get what they want they will turn hostile.

[muffster] 31/1/2019 16:12

Yep shareholders should do nothing... apart from watch the bidding action.

[knowing] 31/1/2019 10:05

Well whoever just bought 400K at a premium certainly sees value at this price.

[2niffy] 31/1/2019 09:45

Unable to service debts of over $400m. Capital restructuring required and time running out. Needs to be in place prior to accountants signing off as a going concern before publication of report and accounts due in March.Existing management have a weak hand to play, credibility in pieces, market conditions not helping and make or break discussions with lenders being orchestrated by a finance director who has already resigned!I agree SeaFox are being opportunistic, however could well have a more compelling story for both equity and debt holders. Possible reversal of assets into GMS with promise of synergistic benefits etc....

[trident5] 30/1/2019 13:27

2niffy - so long as you don't think Seafox are aligned with your interest.

They are a competitor and would love to see GMS out of the game, and better would love to pick their assets up in a fire sale.

It's disingenuous of them to talk about their "boys" being independent - they've picked them.

The RNS also seems to blame the management for disastrous performance. Well we don't know that. Seafox's fleet is a lot older, so that suggests that they have less of a debt issue to manage, whereas GMS have borrowed heavily to expand their fleet just before oil prices turned down. This could be seen, with hindsight, as being too ambitious - but neither GMS nor Seafox can influence the oil price.

I would suggest that Seafox are being opportunistic and they'll be looking at the desired outcome somewhat differently to you and me.

[2niffy] 30/1/2019 10:50

I beg to differ. Proposed board changes introduce management with experiences in capital restructuring. As SeaFox have skin in the game,via their equity holding, existing shareholders can have more confidence in not being diluted down to zero.

[trident5] 30/1/2019 09:12

I think Seafox's announcement today is particularly bad news - replacing experienced directors with directors with a background in newspapers and insurance! Talking about independent representation when they compete with GMS - I can't think of anything less independent.
They look vulture like - positioning themselves to be first to pounce on the carcass.

[trident5] 23/1/2019 08:59

2niffy - quite - the market reaction demonstrates that 2019 is treading water and in a year's time we'll see if it can still swim.

[2niffy] 23/1/2019 08:02

More a stay of execution! Not expecting a recovery in trading in 2019. Will be in breach of covenants by Dec 2019. Company still needs to address capital structure in advance of 2018 accounts being sign off as a going concern.

[svenice7] 23/1/2019 07:22

Great RNS ??Company real value is £200 million. Market cap is currently £60.Share price can easily be 60p.

[guyswonga74] 23/1/2019 07:17

That’s the Big RNS. BOOM

[muffster] 21/1/2019 08:22

I'm puzzled. Seafox will acquire 25% as long as price below 18p.Ok, its below 18p....why wait?Any ideas? Or can it not get 25% as large holders retain?

[knowing] 18/1/2019 00:22

It's a myriad of ploys

[trident5] 16/1/2019 16:28

I thought you were scaring the sellers.

[knowing] 16/1/2019 14:38

Dropping the price to fill orders

[sunnybeachboy] 15/1/2019 16:44

What do you mean....

[knowing] 15/1/2019 15:08

Scare the sellers out

[trident5] 15/1/2019 08:43

Seafox is smaller than GMS.

There's some up to date background to the industry and a mention of both companies here:

[trident5] 15/1/2019 08:22

Looks like a defensive move by Seafox to me.

They are a competitor and in the event of a bankruptcy won't want GMS assets being picked up for buttons by a rival. With a 25% stake they'll control special resolutions.

We'll have to see, maybe they've put it in play.

[guyswonga74] 15/1/2019 06:24

Hostile takeover?

[sunnybeachboy] 14/1/2019 10:43

Bidding war me thinks ....