Gulf Marine Services Dividends - GMS

Gulf Marine Services Dividends - GMS

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Gulf Marine Services Plc GMS London Ordinary Share GB00BJVWTM27 ORD 10P
  Price Change Price Change % Stock Price Last Trade
0.29 3.69% 8.15 16:35:27
Open Price Low Price High Price Close Price Previous Close
7.88 7.50 7.90 8.15 7.86
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Industry Sector

Gulf Marine Services GMS Dividends History

Announcement Date Type Currency Dividend Amount Period Start Period End Ex Date Record Date Payment Date Total Dividend Amount

Top Dividend Posts

scepticalinvestor: Not a holder but this is becoming hilariousSeafox response:08-10-2020RESPONSE TO STATEMENT BY GULF MARINE SERVICES PLCPRESS RELEASEFOR IMMEDIATE RELEASE8th October 2020 Seafox International Limited ("Seafox")Response to Statement by Gulf Marine Services PLC ("GMS" and the "Company") Seafox, the largest shareholder in GMS, notes the 8th October 2020 announcement by the board of GMS. It is our opinion that the statement is both misleading and consistent with a board that is acting in an alarming manner. The announcement comes from board members that in our opinion lost legitimacy since 30th June 2020 when the majority of shareholders voted down most of the resolutions put for approval at the GMS AGM, including voting against the remuneration of certain board members and the appointment of two of the current GMS board members that were voted down yet re-instated within 1 hour from the conclusion of the AGM. We are making this announcement to further inform the market of the background as to the Seafox GMS Directors resignations and the suggested GMS board changes.Seafox believe that the suggested capital increase needed full shareholder support through consultation and potential underwriting/commitment as the Company is trying to raise significant capital in relation to its current market capitalisation. This as far as we are aware did not happen. There is no aborted process it is only a board that is currently seeking to limit its own personal liability. Such an important bank deal should have been put forward to a shareholder's vote given the need for warrants or capital which is a shareholder matter. The capital raise process should have started a long time ago and not subject the Company to such a major risk by limiting the capital increase to a tight window. The capital increase process was stopped by a board meeting not attended by Mr Heikal and Mr Halbouny as they were not invited. In this context it is important to note that neither Mr Heikal nor Mr Halbouny voted against any capital increase process. Seafox is not aware of any real effort to raise capital, including without limitation, wall crossing shareholders or new investors. The company did not provide any detail in that respect.Seafox believe that the current board members do not understand the basic concept of a shareholding company, let alone a listed UK PLC, namely that the company has shareholders! Shareholders who have invested capital, time and effort. Shareholders that voted down multiple resolutions and as far as we are concerned, we will protect the best interest of the company, its shareholders and all stakeholders.Seafox suggested independent board members that have no affiliation whatsoever with Seafox, we are trying to bring best in class expertise, independence and proper governance to the board in the context of a company that predominantly operates in the Arab world and listed in the UK.Seafox is avoiding being dragged into continuously having to respond to bewildering statements.In summary, it is our belief that the new board if elected will have a better chance to raise capital including from existing shareholders and that the board changes we have proposed will be conducive to such efforts. It is our intent to try and support the new board if elected by vote and capital and we believe that the existing board has failed in its primary responsibility to act in the best interest of the Company.
mcrudden: They can offer a bid within 6 months it was in the rns 28th of may. See below For the purposes of Rule 2.8 of the Code, Seafox, and any person(s) acting in concert with it, reserve the right to make or participate in an offer or possible offer for GMS (and/or take any other action which would otherwise be restricted under Rule 2.8 of the Code) within 6 months of the date of this announcement:
mcrudden: This bit you mean, I read that as they reserve the right to make an offer within 6 months and. It they cannot make an offer for 6 months. Further to Seafox's announcement on 30 April 2020 regarding a possible offer for GMS, after careful consideration, Seafox confirms that it does not intend to make an offer for GMS pursuant to Rule 2.7 of the Code.For the purposes of Rule 2.8 of the Code, Seafox, and any person(s) acting in concert with it, reserve the right to make or participate in an offer or possible offer for GMS (and/or take any other action which would otherwise be restricted under Rule 2.8 of the Code) within 6 months of the date of this announcement:
richtea2517: I felt the GMS RNS on Monday was very good. Just my view.
colin12345678: gms £1m buy at 10p - can buy at 7p - net assets 370m - mcap 20m - up for sale
wigwammer: GMS. Potential multi bagger in oil services... Tim Summers, Executive Chairman, commented: "Momentum is building. These are important contract awards for GMS, continuing to add to our order book for 2020. Secured day-rates for these contracts are firm and are consistent with existing contracts in the region."
wigwammer: This sounds like a pitch that says, extend our terms and give us a chance, and new management can sort this situation out. "The last twelve months have been a challenging period for GMS. However, comprehensive changes to the Board and the Senior Management have delivered a significant change in our corporate culture, with a focus on financial and commercial success. Our contract wins through the autumn show GMS is rebuilding confidence in our ability to deliver in a competitive environment, and we face 2020 from a much stronger position than 12 months ago."
wigwammer: With rising oil prices, huge operational leverage and a rock bottom valuation - GMS will be a star performer in 2020. If there were serious question marks about its continuation as a going concern then they would not be talking about 2020 performance targets.. "The negotiations with the Group's lenders are moving forward in a constructive fashion and will be the subject of a further update in due course."
newtothisgame3: #GMS had $400 million in total net debt at the end of last year and is renegotiating terms with creditors after it said it may not be able to meet principal debt repayments late next year.
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