Gulf Marine Services Share Price (GMS)

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Share Name Share Symbol Market Type Share ISIN Share Description
Gulf Marine Services Plc LSE:GMS London Ordinary Share GB00BJVWTM27 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  -0.07 -2.05% 3.34 6,224,166 16:35:19
Bid Price Offer Price High Price Low Price Open Price
3.30 3.38 3.39 3.21 3.30
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Aerospace & Defence 102.49 -125.02 -35.48 12
Last Trade Time Trade Type Trade Size Trade Price Currency
16:29:18 AT 9,312 3.38 GBX
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Gulf Marine Services (GMS) Latest News (2)

Gulf Marine Services News

Date Time Source Headline
11/6/202112:36UKREGGulf Marine Services PLC TR1
09/6/202117:47ALNCTRADING UPDATES: Ted Baker results in line; Gulf Marine raises cash
09/6/202117:35UKREGGulf Marine Services PLC Publication of Prospectus and General Meeting
09/6/202115:42UKREGGulf Marine Services PLC Successful completion of Accelerated Bookbuild
09/6/202109:44ALNCGulf Marine Services shares sink on planned fundraise to tackle debt
09/6/202107:00UKREGGulf Marine Services PLC Proposed Placing and Open Offer
02/6/202116:35UKREGGulf Marine Services PLC Price Monitoring Extension
02/6/202116:13UKREGGulf Marine Services PLC 2020 Annual Report & Notice of 2021 AGM
26/5/202117:36ALNCEXECUTIVE CHANGES: Gresham House Strategic investment manager resigns
26/5/202107:00UKREGGulf Marine Services PLC Directorate Change
More Gulf Marine Services News
Gulf Marine Services Investors    Gulf Marine Services Takeover Rumours

Gulf Marine Services (GMS) Discussions and Chat

Gulf Marine Services Forums and Chat

Date Time Title Posts
11/6/202116:56Gulf Marine Services plc1,631
14/10/201616:51gold mines of sardinia1
28/4/200923:09GOLD MINES OF SARDINIA - Agreement Finalised19

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Gulf Marine Services (GMS) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2021-06-11 15:29:183.389,312314.75AT
2021-06-11 15:29:183.3818,623629.46AT
2021-06-11 15:29:183.3826,524896.51AT
2021-06-11 15:29:153.34301.00O
2021-06-11 15:29:153.348,000267.20O
View all Gulf Marine Services trades in real-time

Gulf Marine Services (GMS) Top Chat Posts

DateSubject
12/6/2021
09:20		Gulf Marine Services Daily Update: Gulf Marine Services Plc is listed in the Aerospace & Defence sector of the London Stock Exchange with ticker GMS. The last closing price for Gulf Marine Services was 3.41p.
Gulf Marine Services Plc has a 4 week average price of 3.10p and a 12 week average price of 3.10p.
The 1 year high share price is 14.95p while the 1 year low share price is currently 3.10p.
There are currently 350,487,787 shares in issue and the average daily traded volume is 30,698,469 shares. The market capitalisation of Gulf Marine Services Plc is £11,706,292.09.
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10/6/2021
11:20		exbroker: A couple of points from various post in the last two days. If Seafox wanted to take over GMS they could have got a rule 9 exemption from the takeover panel and done the placing at 10p with them underwriting it all. They would then have ended up with about 75% of the equity. The placing is open to ALL shareholders so there is no dilution if you take them up. The adjusted price allowing for the 19 for 10 is about 4p. The share price has fallen either because there is a significant amount of round tripping against the open offer or there is a seller in the market. If the latter, then this could be a good buying opportunity see wigwammer post 1621.
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10/6/2021
10:34		swanvesta: "Everything that the new management has done, has been to create uncertainty for shareholders, whilst obscuring the strongly performing underlying business." Sorry, that's not the perception I've had. They've repeatedly sounded positive about trading, albeit without much detail. Re the share price drop, anyone holding 10 shares yesterday has an entitlement to 19 of the new shares. If they need cash for that they can sell their holding now at any price above 3p and make money.
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10/6/2021
09:42		xxx: Everything that the new management has done, has been to create uncertainty for shareholders, whilst obscuring the strongly performing underlying business. why ? well the current management own a similar, but more commoditized business and they have previously tried to take Gulf marine over in order to merge with that company. What aspects of management behaviour ? They have negotiated a reasonable deal with the bankers. However the way they are presenting it to shareholders is designed to create uncertainty. Thus, the last set of reports were not audited and the outlook statement lacks reasonable detail. Remember, the obligations of the management are to run the company for the benefit of all shareholders equally. They have waited until the last minute to announce the fund raising and most unusually, there is nothing to support a presentation of current trading and prospects for GMS to shareholders. The fund raising has been organised so there will be an avalanche of new shares, which are priced much lower than they could have been priced at under the previous management 1 yr ago, despite underlying trading being less good than now. Unusually, there was no upate on trading given to shareholders at the AGM. The fundraising offer document has 15 pages of risk. The management have had the Q1 figures for a while now and could have published them, but chosen not to. How do you know about underlying trading ? 1/ The fund raining document reports one sole figure regarding trading. Utilisation rates for 2021 are already at 80%. This is a golden figure as once utilisation rates get above this figure day rates go up and in this business, when rates go up, they accelerate fast.In previous up cycles, day rates are 3-4x last year's rates , when they still managed to earn US$50m in Ebitda, at a time when oil prices were on the floor.In fact, EBITDA was higher, they checkily reduced it by $7m by including a relocation cost above the line, when in fact it should be an exceptional item. 2/ Looking at companies in the same space, Maersk, Valeris and sector experts like Rystad energy are all reporting a significant pick up in utilisation. 3/ But the GMS kit will benefit more so than the average jack up, as it is easier, safer and faster for well intervention, decommissioning and a number of other uses. In addition, for wind turbine installation. 4/ The management have bought more shares in the past few months and not at 3p, a sure sign of confidence in the attractions of the underlying business. 5/And to underpin the demand side for the company's kit, oil prices are hovering around $70/bl before most economies have opened up, and LNG + nat gas pricing is even stronger. Thus to fulfill this demand, oil companies will need the kit to support production. 6/ Unlike previous cycles, there is no new kit coming on stream which has in the past increased capacity and reduced pricing, thus increasing the attractiveness of GMS assets. 7/ See the 22nd April note from Panumure with a TP of 20p This cycle is just starting and will go on for longer than previous cycles due to this lack of kit. Mansour Al Alami et al know this and are trying to obsure the picture for shareholders and other investors. They are relying on investors to continue looking in the rear view mirror and clouding that with partial and misleading information. He and his associates are already in the same business and are aware of the strong uptick in demand Remember he is executive chairman, no CEO. And the independent directors ?....reliable friends of his. In English law, directors have a fiduciary responsibility to shareholders. They have patently failed in this duty. But they own a minority stake and whilst that is so all investors alike can benefit, as the improved trading will show up in the figures over the next 6 months. Therefore a new bid from them in that time frame looks precitable.{They previously bid for the company at
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09/6/2021
07:50		marmar80: I'm not a shareholder but been watching gms for a while. If they had balls they would do 50% RI at 10p for existing shareholders and 50% open offer at the same price. The existing shareholders would benefit, company would issue less shares and in light of the guaranteed survival the new shares would be taken by all easily. They showed no balls at all and penalised long term holders.
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09/6/2021
07:24		technowiz: RNS placing. csmwssk12hu you were very close with your 20p prediction. just a zero out. but oh what a difference it'll make. zillions of shares at 2p oh boy thats such a low price to have a placing at. its 2020 share price low.
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21/5/2021
10:45		csmwssk12hu: In my opinion there is no way they won’t raise $25m as the two biggest shareholders have already backed it, assuming they raise at 7p ish the effect on the share price will be massive, it will remove uncertainty and I can see them going north of 20p on the day easily, just my personal view, they may even go much higher, now if they are really good they will get the raise away at 20p because that will send the share price through the roof possibly into the 30’s, then will leave current holders sitting on a huge profit which would more than pay for the raise, it’s all about playing with numbers, either way they are going to do very well when the uncertainty is removed imho dyor
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27/4/2021
08:22		csmwssk12hu: I think the trading updates are becoming a serious factor here, after bp stunning results the oil sector is clearly powering ahead and recovering a lot more sharply than anyone thought or realised, the trading update here showed that, hence the blocks of 500,000 hares being bought up at above price (7.9p), if that recovery continues way ahead of schedule they could not need the raise and be in a better position to negotiate new debt terms, that is why I am here as the share price could soar on that news, results due in a few days we will find out then, the constant large buying ahead tells me someone knows something imho dyor
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15/4/2021
19:03		jimbomorry: 78% vessel utilisation with confidence in tender pipeline. Debt restructured and interest payments reduced. I'd like to hear more on the equity raise in due course but this seems to me to be being done for the right reasons, i.e. debt restructure and future growth. Also, particularly like the involvement in the growing renewables market in Europe, and not just focused on O&G; think this could carry weight with institutions more than just an O&G Co. Has to be a big plus in my view. I've topped up as am liking the legs I think this share price has. I'm in at 6p so fancy the doubling up to 12p+.
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16/3/2021
09:41		csmwssk12hu: Wow this board is quiet, so company worth $28m comes out and says it’s renegotiated it’s debt so it now pays $54m less over next two years and business has also markedly improved (no doubt why the interest rate was lowered)should on interest alone lead to instant triple of price but it’s only up 60%? In a normal world it would be a lot more but even if you say on a five times p/e ration it should have led to a $135m increase in the value of the company which would imply a share price in the region of 35p approximately and we are sitting in the 8-9p range, as I always say I’m now in here for a flutter as to me this is now a no brainier, as ever all imho dyor
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08/10/2020
18:56		scepticalinvestor: Not a holder but this is becoming hilariousSeafox response:08-10-2020RESPONSE TO STATEMENT BY GULF MARINE SERVICES PLCPRESS RELEASEFOR IMMEDIATE RELEASE8th October 2020 Seafox International Limited ("Seafox")Response to Statement by Gulf Marine Services PLC ("GMS" and the "Company") Seafox, the largest shareholder in GMS, notes the 8th October 2020 announcement by the board of GMS. It is our opinion that the statement is both misleading and consistent with a board that is acting in an alarming manner. The announcement comes from board members that in our opinion lost legitimacy since 30th June 2020 when the majority of shareholders voted down most of the resolutions put for approval at the GMS AGM, including voting against the remuneration of certain board members and the appointment of two of the current GMS board members that were voted down yet re-instated within 1 hour from the conclusion of the AGM. We are making this announcement to further inform the market of the background as to the Seafox GMS Directors resignations and the suggested GMS board changes.Seafox believe that the suggested capital increase needed full shareholder support through consultation and potential underwriting/commitment as the Company is trying to raise significant capital in relation to its current market capitalisation. This as far as we are aware did not happen. There is no aborted process it is only a board that is currently seeking to limit its own personal liability. Such an important bank deal should have been put forward to a shareholder's vote given the need for warrants or capital which is a shareholder matter. The capital raise process should have started a long time ago and not subject the Company to such a major risk by limiting the capital increase to a tight window. The capital increase process was stopped by a board meeting not attended by Mr Heikal and Mr Halbouny as they were not invited. In this context it is important to note that neither Mr Heikal nor Mr Halbouny voted against any capital increase process. Seafox is not aware of any real effort to raise capital, including without limitation, wall crossing shareholders or new investors. The company did not provide any detail in that respect.Seafox believe that the current board members do not understand the basic concept of a shareholding company, let alone a listed UK PLC, namely that the company has shareholders! Shareholders who have invested capital, time and effort. Shareholders that voted down multiple resolutions and as far as we are concerned, we will protect the best interest of the company, its shareholders and all stakeholders.Seafox suggested independent board members that have no affiliation whatsoever with Seafox, we are trying to bring best in class expertise, independence and proper governance to the board in the context of a company that predominantly operates in the Arab world and listed in the UK.Seafox is avoiding being dragged into continuously having to respond to bewildering statements.In summary, it is our belief that the new board if elected will have a better chance to raise capital including from existing shareholders and that the board changes we have proposed will be conducive to such efforts. It is our intent to try and support the new board if elected by vote and capital and we believe that the existing board has failed in its primary responsibility to act in the best interest of the Company.
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