Nautilus Marine Services Share Discussion Threads

[noirua] 11/1/2019 15:43

More obvious now. McLarty were sitting on an 8% convertible going out to 2027 - 8 years and who knows what might happen and unable to exert control. No way of cashing them in really so why not convert them for a a 25% stake in NAUT. Interesting to know what the next move will be.

[barnetpeter] 11/1/2019 15:42

I don’t think the company is that bad at this mkt cap and I want some..6p maybe. Loads of cash and assets here for that type of mkt cap.

[tomboyb] 11/1/2019 15:33

Well 7p now on the ask -

Sh*t available but that now is dependent on traders selling below that value -

[hugepants] 11/1/2019 15:28

Yep but its not clear why they want to control a pile of rust.

[noirua] 11/1/2019 15:27

Mclarty Capital Partners could move to gain control very easily now.

[tomboyb] 11/1/2019 15:12

b notes to be converted at 160p and C at 225p -

So all conversions are much higher than 50p! -

Any comments?

[tomboyb] 11/1/2019 15:08

6.5-7.0p has to be the target -

capped at around 2.7mill roughly at those levels -

Wait for traders to completely sell out -

[noirua] 11/1/2019 15:06

· Convertible A Loan Notes of $10.5 million when fully issued have a 50p conversion price, coupon of 8 per cent. and a maturity date of 1 January 2027;

· Convertible B Loan Notes of $6.1m when fully issued have a 160p conversion price, coupon of 6 per cent. and a maturity date of 1 January 2029;

· Convertible C Loan Notes of $15.0m when fully issued have a 225p conversion price, coupon of 6 per cent. and a maturity date of 1 January 2032.

Nautilus Marine Services PLC (AIM: NAUT), announces that on 10 January 2019, the Company received notice from McLarty Capital Partners ("McLarty") to convert the US$7,640,000 Convertible A Loan Notes (as defined and described in the Company's AIM Admission Document published on 16 January 2017) into 12,524,590 ordinary shares in the capital of the Company ("Ordinary Shares") at a price of 50 pence per Ordinary Share at a fixed exchange rate of GBP1/US$1.22 (the "Conversion").

As a result of the proposed Conversion, McLarty will hold 12,524,590 Ordinary Shares in the Company, representing 25.75 per cent. of the Company's issued share capital as enlarged by the Conversion.

Following Admission the Company will have 48,636,777 Ordinary Shares in issue. The Company does not hold any Ordinary Shares in treasury. Therefore, the number of Ordinary Shares with voting rights in the Company will be 48,636,777. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules sourcebook.

[tomboyb] 11/1/2019 14:57

This will be traded up and down -

At the moment day traders selling up so see where it ends up at end of day -

[eezymunny] 11/1/2019 14:50

I suggest you get someone intelligent and analytical to look at this transaction. Then ask if you still think the shares are cheap!

www.investegate.co.uk/global-energy-dev---naut-/rns/proposed-reverse-takeover---notice-of-gm/201701160700091907U/

[nicky21] 11/1/2019 14:17

am confused.
this should be trading a lot higher.

[barnetpeter] 11/1/2019 14:06

Debt is not due to be repaid until 2027. They sold some of the ships for a profit. They dont get any new money....the debt owed by the company is reduced. Someone is taking a big loss..perhaps for tax reasons.

But there seems to be loads of cash here. Not worth 50 pence.....around 12 pence is fair I reckon.

[eezymunny] 11/1/2019 13:40

You need to read old stuff to see what they did with a massive cash pile. It wasn't pretty for shareholders who now own a load of old rust bucket unused ships.

[joecase] 11/1/2019 13:25

Tidy whatever the conversion was at 50p share price is at 9p. Wtf??? Does it mean

[eezymunny] 11/1/2019 13:23

I see some of the most hideous rampfesters have arrived on the board of one of the most sickening companies. A marriage made in heaven...

[tidy 2] 11/1/2019 13:20

It was a conversion to reduce debt not increase cash wasnt it.

[noirua] 11/1/2019 13:11

The conversion is at an exchange rate of $1.22 against the market rate of $1.28 and converted for more than the company's market cap yesterday. Surely the shares should trade close to 50p or even higher.

[cudmore] 11/1/2019 13:10

Joosepi

Buy and hold as this has a long way to go as you are rightfully highlighting. If only all investors did the maths!

[noirua] 11/1/2019 12:47

The year end is 31 December 2018.

[joosepi] 11/1/2019 12:31

McLarty Capital now hold 12,524,590 which 25.75% of NAUT at 50P. What am I missing are McLarty wanting to tale over NAUT? The share is stupid undervalue at 10P based on this transaction????

[mikeh30] 11/1/2019 11:58

Probably worth a punt at 5p

[joecase] 11/1/2019 11:58

L2 sells in at 8.50 now

[ayesha4] 11/1/2019 11:56

Over 10m cash5m market cap