Gulf Marine Services Share Discussion Threads

[callmebwana] 27/12/2018 16:42

Bots programmed to trade.
It has formed a bottom @ 10P. One RNS and this will break through the 10P resistance IMO.
I wonder how long it would take the BOD to arrange new Bank Covenants ? I don't see the Banks pulling the plug on GMS.The banks would shoot themselves in the foot if they pulled the plug on GMS. AIMHO of course.
They can cut the Divi for a period of time if they feel very desperate. We will just have to wait and see how long it takes the seller to clear their stock. The other Fund seems happy to take the shares. I think PI's trading makes little difference to the share price here.
ATB.

[trident5] 27/12/2018 16:17

SBB - on xmas eve you seemed to be expecting funds and directors to be buying today.

[sunnybeachboy] 27/12/2018 15:11

People buy people sell that's the market. :) 23p+ by end of January

[guyswonga74] 27/12/2018 15:10

That is true. There is a buyer. Market makers happy to take the stock at 10p

[trident5] 27/12/2018 15:03

Fund selling.(Or swapping).

[guyswonga74] 27/12/2018 14:46

If there wasn’t a buyer for the sellers stock the share price would have crashed to oblivion by now

[sunnybeachboy] 27/12/2018 13:30

Happens with so many stocks these days. They were flooding the sells earlier :)Another 2 sells at same price that's a surprise :)

[trident5] 27/12/2018 13:24

SBB - is this the same conspiracy or are there two at work here? Who could be trying to keep the price down? And why? Will it rocket to 25/30p when they've had enough?

(Maybe the company's got debt and revenue problems - just saying).

[sunnybeachboy] 27/12/2018 13:12

Looks like someone trying to keep this down why they load up. Look at those same number sells.

[trident5] 27/12/2018 12:55

Hi Guyswonga - could you elaborate on who is organising a share swap at 10p and why? It's a market isn't it - doesn't the buyer just buy them and the seller sell them.

And how is the "swap" keeping the price at 10p?

Is there a conspiracy here that we should be aware of?

[guyswonga74] 27/12/2018 12:35

Yep. An organised share swap around 10p to a fund and I assume a fund buying. When that finishes and we get the RNS of either new contracts or banking covenants being sorted. This will head back to 25/30p in a flash. Patience is a virtue and well done if you managed to pick some up at around this price

[callmebwana] 27/12/2018 10:10

I think a Fund is clearing out of this share. Soon as their shares are taken up this will start the motor along. A good RNS from the Co will help as well. The drop was a bit rash IMO.
ATB.

[sunnybeachboy] 24/12/2018 15:18

Chairman bought.Director boughtFunds buying.Nice close at 10.5pExpecting more of the same on Thursday. Looking very good from an over the top fall.

[guyswonga74] 24/12/2018 15:03

Trident. That is why the share price is at 10.5p. I do t think a rights issue is needed at present. They recently paid a 1.6p dividend and it’s more likely a new covenant arrangement will be made. Agee the banks are in this too much to pull the plug and from my view the price is too low

[trident5] 24/12/2018 13:28

Banks are in a bit too deep here to pull the plug - their loans aren't covered by the resale value of the fleet.

So, they'll either agree to continue or insist on a rights issue. It's likely the market has worked that out and will be more responsive to a hike in the oil price and an improvement in the utilisation and day rates. GMS don't see that happening in 2019 and didn't see much improvement this year as the oil price shot up before falling back.

Likely to be a long haul.

[guyswonga74] 24/12/2018 13:15

On RNS staying banking covenants have been agreed with the bankers expect 20-25p in a flash. Starting to move off 10.5p now. Bodes well for Thursday. Merry Christmas to you all

[sunnybeachboy] 24/12/2018 12:24

Ask jumped to 10.8p

[nick rubens] 24/12/2018 11:55

Not doing too well since flotation. Any real surprises there?

Likely a fund raise coming.

[guyswonga74] 24/12/2018 11:38

Let’s flush the seller out

[knowing] 24/12/2018 10:07

Didn't the Trident have problems and was taken out of service.

[knowing] 24/12/2018 09:58

Institutional Buyers now on the RNS

[sunnybeachboy] 24/12/2018 09:58

A fund upping there stake in us.Waiting for 23p+ in January. I won't listen to the noise

[trident5] 24/12/2018 09:54

You think their vessels are worth their book value? They're a fraction of that now and less than the debt. There's a big difference between the resale value in a distressed environment and the accounting value.

That's why it's 10p to buy and not 124p.

[knowing] 24/12/2018 09:16

You are correct trident. It's £1.24 according to ADVFN figures

[trident5] 24/12/2018 09:05

NAV is NOT 94p - its' likely negative.