Gulf Marine Services Share Discussion Threads

[lomcovaks] 19/12/2018 13:52

I sold first thing I read the news for a seventy percent hit. A bitter pill to swallow but I've learned the hard way that the first cut is the easiest.

[kirk 6] 19/12/2018 13:51

Can buy loads of stock but sell nothing This will likely fall below 5p

[hpcg] 19/12/2018 13:01

I'm not sure about zero, its certainly a possibility, but lenders have the whip hand. The institutional change over may help, but even with a capital raise it's heads they win tails you lose. It's an easy no buy, but I'm not sure what I would do as a holder.

[zen12] 19/12/2018 12:44

Also, note Convenant break was already known as mentioned in last interims. They are expecting a waiver for this hence in discussions already:

Rns interim results ceo: This protraction creates a current material uncertainty as to compliance with financial covenants at 31 December 2018, which the Directors are confident will be remedied either through award of appropriate contracts in the required time frame or obtaining a waiver from its banking syndicate.

[zen12] 19/12/2018 12:30

What nonsensical post ‘falling to zero’ This will not even fall below 8p. There are in constructive discussions with the banks so they are doing all the right things.

[my retirement fund] 19/12/2018 12:15

They are going to break loan covenants. Why would note holders agree to restructure unless they assume complete control? In otherwords why should the equity be valued at 8 pence and indeed have any value what so ever.Surely this is going to fall to zero. A fantastic shorting opportunity!

[zen12] 19/12/2018 11:37

Overreaction CEO: The Board is confident that the strong pipeline of contract tenders in the Middle East should eventually lead to an increase in charter rates. The Group's fleet is one of the youngest and well invested in the industry, with an expected future useful life of more than 25 years, which means GMS is well-placed to capitalise on a market recovery when it does materialise.

[zen12] 19/12/2018 11:34

Crazy valuation now considering the assets they have, now double bottom only way should be up.

[blueball] 19/12/2018 11:24

Could fall to 4p pal.

[pal44] 19/12/2018 11:13

may buy at 4p .. gla

[5chipper] 19/12/2018 10:56

I appreciate there are many vessels but there must be a company who would be willing to split the fleet and re-sell in smaller lots. Whether economic to do so would be another matter!

[zen12] 19/12/2018 10:52

Drop way overdone. Expect a strong bounce shortly

[robizm] 19/12/2018 10:50

5chipper there are too many vessels and those nav may not be obtainable. The oil price drop is not helping.

[sunnybeachboy] 19/12/2018 10:34

Fed meeting tonight.If rates rise we might see a massive sell off on the DOW. If that happens the ripple will be felt here. You might be able to pick these up at 7p or under.

[unnavailable] 19/12/2018 10:25

Sorry for any holders here. I sold out in May as per post. This seemed like it could've had potential. Maybe in better macro environment but we all knew the risks. .Some we win, some we lose. Hope any losses are manageable.

[5chipper] 19/12/2018 10:22

According to the accounts tgeir vessels are valued at $752m with total debt of c$450m.

So would the co not be an attractive takeover target for someone who could either use or re-sell the vessels?

[hpcg] 19/12/2018 09:44

I see I didn't post here when I sold again; my last message was about buying back in. I departed on 15 Oct, by which time oil price direction was clear, though it has gone down further and faster than I would have imagined at the time. Presumably people who posted here had cleared out at the latest the last OPEC meeting? GMS needs increased activity in the Gulf, which seems unlikely, and which the RNS alludes to.

Agreed, this is not a buying opportunity. Worth watching as it could present a great opportunity in the future, even if that is long odds for now.

[pugugly] 19/12/2018 09:26

Not nice - Possible equity for debt dilution or more likely vulture takeover?
Not a falling kinife to try and catch (imo)
Anyone know if Gervais williamsstill holding as have not folled for some time

[sunnybeachboy] 19/12/2018 08:46

Placing coming ?

[phowdo] 19/12/2018 07:37

"...with the consequence that the Company is expecting to be in breach of certain banking covenants at the end of 2018"

Chart was suggesting something like that...

[richtea2517] 19/12/2018 07:15

There's the back story

[wad collector] 25/10/2018 17:43

Wonder what the back story is here:

23 October 2018

Gulf Marine Services PLC

('Gulf Marine Services', 'GMS', 'the Company' or 'the Group')

Resignation of Chief Financial Officer

John Brown has today given notice of his resignation as Chief Financial Officer ("CFO") of GMS effective from the 2019 Annual General Meeting of the Company which is scheduled for Tuesday 28 May 2019. Mr Brown has served as CFO since January 2014, having joined the Company prior to its initial public offering in March 2014.

The Company have commenced the process of recruiting a suitable successor.

Simon Heale, Chairman of GMS, said:

"John has been an integral member of the GMS leadership team and I wish to express our gratitude for his valuable contribution and wish him all the very best for the future."

- Ends -

[seangwhite] 20/10/2018 00:47

Nobody seems to care about this share.Let's hope the newsflow changes this!

[hpcg] 08/10/2018 11:20

Don't ask trident5, otherwise before we know it the board will be all tree shakes and evil market maker manipulation.

[trident5] 08/10/2018 09:15

"Price held down for top ups to key movers".

How does that work?