Gulf Marine Services Share Discussion Threads

[trident5] 05/5/2020 18:04

It is derisory and opportunistic - I think the bank syndicate attitude will be decisive.

And I'm sure Seafox would want to participate in any placing given they're so keen to buy the whole company.

[colin12345678] 05/5/2020 17:21

Nope or me worth a lot more

[richtea2517] 05/5/2020 17:19

Can't see them jumping at that tbh.

[richtea2517] 05/5/2020 17:06

I felt the GMS RNS on Monday was very good. Just my view.

[colin12345678] 05/5/2020 16:28

gms £1m buy at 10p - can buy at 7p - net assets 370m - mcap 20m - up for sale

[trident5] 04/5/2020 08:12

Seafox response makes a great case for them not buying the company.

[babbler] 04/5/2020 07:57

Got to go over 10 no? Better offer coming?

[richtea2517] 04/5/2020 07:06

Well played

[trident5] 30/4/2020 10:08

Although, they've pulled two of their large vessels from the North Sea, and they have recently arrived in the Gulf - I suspect the outcome here will be largely determined by whether these can be quickly contracted at reasonable rates.

Board is advising that share holders do nothing.
Results tomorrow.

[trident5] 30/4/2020 07:23

Seafox bid $0.09 - not really a surprise, looks like game over here.

[technowiz] 24/3/2020 13:38

covenants need to be extended by end of march?

[paraguay] 19/3/2020 14:20

What's going on here today? Dead cat bounce?

[sbb1x] 17/3/2020 10:53

No posts in 2 months

[alamaison5] 16/1/2020 08:20

Sold my babies with regrets, and an 11% profit.

I still think it will reach 9p, but as the internet is not fast enough (in Cambodia) I am having trouble with hxxps://secure.ii.co.uk/webbroker2/ I am scared that when it starts going down I won't be able to sell.

[trident5] 03/1/2020 08:29

Desperate need to get two of their four large vessels contracted.

They're now docked in Rotterdam and have been sat around a long time now, I thought the N Sea was full of de-commissioning work.

[wigwammer] 03/1/2020 07:57

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] 19/12/2019 10:52

Sounds about right, baddeal. Looking at the figures, they clearly need to focus on reducing the debt. But at the same time there is a credible, cash generative and asset backed business that appears to be energetically recovering :)

[baddeal] 19/12/2019 10:14

It's all about the debt restructuring. I'm a holder and if we don't get shafted then agreed it's a leverage play which if they get more vessels out will drive returns. If they don't or debt providers want to take control we'll lose the lot. It's a gamble equity play

[wigwammer] 19/12/2019 09:30

"Guidance for 2020 performance will be issued in the first quarter of next year." ie we are going to be a going concern in the first quarter of next year.

[wigwammer] 19/12/2019 09:23

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] 19/12/2019 09:16

Ebitda $49m. This should rise significantly in 2020 as operational gearing kicks in and the cost rationalisations feed into a full year. Interest charges of $32m are pretty well covered even on the 2019 base. It is quite possible repayment terms are extended, a small increase in the rate charged occurs, the libor rate evengy falls improving the cost of that part of the debt, and holders take little haircut at all.

[wigwammer] 19/12/2019 09:07

It trades at sub 0.1x tangible book. At what valuation does it become an attractive risk/return?

[my retirement fund] 19/12/2019 08:25

It will certainly carry on, question is who will end up owning the company and how worthless will the equity be and what sort of haircut will bond holders take

[wigwammer] 19/12/2019 07:20

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."