Gulf Marine Services Share Discussion Threads

[baddeal] 04/6/2020 10:56

That's a five month wait a least!

[c2b] 04/6/2020 09:44

Hold on - don't sell / make Seafox pay more !!!

[baddeal] 04/6/2020 08:58

Further offer barred for 6 months unless another party comes in.Imho seafox used the offer to pick up a big equity holding knowing they probably wouldn't get control. Fact that they picked up huge slug this week above their original offer price shows how opportunistic they were trying to be and why existing shareholders can't trust them.Where it goes from here is difficult. Business is massively over leveraged and needs to regear balance sheet through a debt/equity swap or huge equity injection. That will reduce interest costs and improve fcf.Would normally expect existing equity holders go get wiped out here but clearly seafox think they can hold some sway over this and come out favourable otherwise why pick up 26 %?

[trident5] 04/6/2020 07:39

There are restrictions on them making an improved offer - see their RNS of 28 May.

They are being v opportunistic - there's a RI coming down the tracks which I think they said they wouldn't support.

Seems to me that management wasted a lot of resource with two large vessels doing nothing in the N Sea. They're back in the Gulf now and one hopes that things steadily improve and that existing holders can benefit in due course.

[paraguay] 04/6/2020 07:16

Seafox seem to be sweeping up weak sellers. Increased stake from 20% to 26%. Views on an improved offer--thoughts?

[baddeal] 03/6/2020 17:55

No holding rns today, I assume we'll get one tomorrow re big trades done yesterday?

[trident5] 03/6/2020 14:26

More buyers than sellers.

[sibeks] 03/6/2020 13:41

Why is it going up still ? 7% at lunchtime

[babbler] 03/6/2020 07:59

Trade cancelled.

[wad collector] 02/6/2020 23:27

Yep closed at exactly one tenth of the float price . Just saying....

[paraguay] 02/6/2020 17:29

Someone knows something. Come on spill the beans, where's the next offer going to come in at?

[baddeal] 02/6/2020 16:56

Even more confused 22p?!Think someone hit the wrong key!!

[baddeal] 02/6/2020 16:52

Hmm, 8% of equity traded Something leaked?We shall seeHolding rns tomorrow and maybe more

[richtea2517] 02/6/2020 16:27

Interesting

[baddeal] 26/5/2020 18:54

Feels like there is a Mexican standoff here. Something will have to give

[sibeks] 16/5/2020 17:07

Well the share price exceeds 10p what's next?

[richtea2517] 07/5/2020 07:15

Liking the response. Not even the headline news to tell Seafox where to go. Nice touch.

[baddeal] 06/5/2020 09:44

£1.20 equity value!! Are you dreaming. It has over £400m debt that would mean and EV of c£850m on estimated ebitda of £45mLet me know what other companies you are invested in and I'll bail out! Go to school and learn some maths

[pakenham] 05/5/2020 20:24

yeh trident - do u understand balance sheets - it's worth 120p after all debt paid and more now demand rocketed. 101 accounts for u my lad

[trident5] 05/5/2020 20:06

Ha ha - that's a bit delusional - you've seen the debt here?

[pakenham] 05/5/2020 19:29

asset strip worth 120p - can't see 10p being successful - 120p before the value added by oil services in increased demand with storage offshore rates doubling recently - so 150p?? Seafox playing games - rival bids??

[trident5] 05/5/2020 18:49

It says in the RNS

[sbb1x] 05/5/2020 18:15

Sea fox lol

[sbb1x] 05/5/2020 18:15

What percentage of shares do seafood currently own?