Gulf Marine Services Share Discussion Threads

[sunnybeachboy] 20/12/2018 12:02

8.52p paid. Wake me up at 18p

[sunnybeachboy] 20/12/2018 10:07

Cheap as chips this.Grab as many as you can

[wad collector] 20/12/2018 08:32

"There" .On the pay roll perhaps .

Another of my equities crashes down to what looks like a death spiral. I have some made some bad choices with Carillion and Interserve , this is clearly another!

[muffster] 20/12/2018 08:10

You're right knowing. Apologies.John brown, cfo, there till May 28th 2019

[muffster] 20/12/2018 08:07

Also did prudential not take a 5% stake recently?

[muffster] 20/12/2018 08:02

Well I've added. Why.. Well hoping for early Jan success and don't mind rights issue

[knowing] 19/12/2018 19:33

CFO did not do a runner and is currently still with the company as far as I can see.

[my retirement fund] 19/12/2018 18:45

I'll eat my hat if they allow forbearance on covenants. Why the hell would they?Shareholders here are toast. There's blood all over the carpets.Is it any wonder the CFO did a runner!

[muffster] 19/12/2018 17:46

Last interims:Duncan Anderson, Chief Executive Officer for GMS, commented:"We have had a very busy six months with three new contracts secured and an unprecedented six vessel mobilisations in the period. Encouragingly, both EBITDA and the EBITDA margin showed sequential improvement against the second half of last year and whilst it is disappointing that the Group has reported a loss in the half year, the principal cause of this was some of our clients requesting later contract start dates. These have now all successfully commenced and we expect a return to profitability in the second half of 2018. While the delays have been somewhat frustrating, our financial performance in 2019 will be positively impacted by these recently commenced contracts.Now: we have no visibility of deals, covenant breaches oh and finance chief left before we saw the books.....

[knowing] 19/12/2018 17:17

I would say it was priced at 20p on this news (opening price) before the panic selling.

8 --> 20p headroom on covenants raised

20 --> 50p contracts signed 2019

[nimrod22] 19/12/2018 17:03

I don't think punters are involved in talking the share price down; it appears that the directors have managed to do that by themselves in today's RNS.
It also doesn't help that the chief financial officer did a runner a few weeks back.
I notice Tom W has given the share a bit of a bashing today; his buy tips are not always that good, but his bargepole status tends to be spoton.
Well for holders sake I hope it does make a recovery, but short of delivery of a major contract it doesn't look good at the moment.

[hpcg] 19/12/2018 14:37

Lomcovaks - good call. I now find I never regret it, even if there is a bounce. I try to sell at the earliest sign these days.

[nimrod22] 19/12/2018 14:19

Anybody's guess as to where this will go. A year ago I would have thought the market was picking up, but with so many good boats laid-up, a general share price depression, it doesn't even look worth a takeover bid. Suspect more downside to come.

[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