Sudden flurry of buys - if ADVFN is to be believed, the buys outweigh the sells today.
Very strange. |
Stockriser
23 Feb'16 - 16:19 - 32058 of 32088 0 0
Aye, a large overdraft, but they do have revenue coming in! How much CURRENTLY nobody knows, unless of course you are in the know ...lol
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
LOL. LOL. |
Ron I think 10m is nowhere near what they will get tbh. They grossly overpaid buying it at its peak and now in a sector that's in dire straits and a business that isn't generating anywhere near what it used to I think 3 to 4m is optimistic. Given its a fire sale to they might be lucky to get that imo. Sorry to be the voice of doom but 10m your dreaming. Rich u owe me a pint lol.
Yes I have been here since the beginning and looks like I'll see the end too. Without remp this was doomed
They way I see it is get a few million for r2s. Which replays the loan, drag it out another 12 months paying wages and redundancies then wrap it up potless.
Logp. Will get shafted on any deal now and won't add any real value that sea could realise. Dumping their shares into the market would kill any share price Rise so fast it's a non starter |
If there is fund raising with this train wreck then the BoD should resign and let someone who is more capable of running the business.
I have written this investment off. Any upside is just a bonus. |
RNS OUT: SeaEnergy PLC announced as Finalists in the worst run business ever awards. |
ps doesn't need to be a good vet ! |
egm to be called for ! I would ask for a good vet to put the board down,less costly and more efficient |
Ceph - Stewy tried that - couldn't get the support...
JAW has said that the sale will need one anyway, but it depends whether we get to choose the buyer from a list, or simply vote on whether to sell or not.
I suspect the latter. |
Yes, me too. I feel that the management were trying their best to invest shrewdly, but had their fingers in too many big pies and have a habit of investing in areas in which their knowledge falls way short of the mark. Remp was a bit of a buccaneer and an entrepreneur with a vision. It was impossible for the others to emulate. They were all hanging on his coat tails. But I do not believe they have done this on purpose, and I don't think they are in it to screw over PI's. There is a bit of greed and they will now be selecting the life raft for themselves first, so that is why an egm should be called.. |
Ceph - I, for one, have difficulty in understanding what SEA's business model actually is since Rempy left. |
If the sale of R2S were conducted honestly, there should be no reason imo why it shouldn't make at least what we bought it for i.e. £10m. That's obviously as long as the "assets" of the company don't include the board of SEA. |
Larger, the BoD milked R2S dry because they got greedy. What is actually a sound business, has been pumped up to people here to something bigger than it can be to service the Seaenegy business model. And they got unserviceable oil industry style loans which R2S now has no hope of paying off in the near term. |
It would be obvious to any potential buyer of R2S that the problem is the SEA directors milking it dry - without them, it is fundamentally a good business even with the current lack of oil based revenue. Once the price of oil recovers, it should fly.
I have voiced my fears on here before about a management buyout for peanuts after JAW trashing the share price. The difficulty would be proving he did it on purpose.
The RNS mentions they've got rid of the ship management business. First I've heard of it - did I miss the announcement? What did they get for it?
edit: a large number of buys this morning considering the news. |
All those complaining can't say they haven't been warned here once again try listening you might learn something once in a while. Game over soon even the sale of r2s won't postpone the death for long as it won't bring in a fraction of its original purchase cost say 2m of which most will go to winding up and loan costs. Not long now until it's all over |
What a complete and utter fiasco, words fail me.
Someone remind me, how much our Current and Former Directors have "received"
by way of financial reward, over the last 5 years? |
Sorry for holders here, I refer to my post 31952. There might be a way that you don't lose much actually, from current prices. If it is marked down on open, there could be a big trading bounce. That is if LOGP is sold and money returned to shareholders. Then of course, repaying the debt money they raised recently would also salvage something. My guess is that R2S sale will just about cover it. Then Seaenergy will be a shell with a 20% stake in LOGP...their er...ahem..'non-core' asset. |
Seaenergy = how to squander £38mil in 5 years and fleece PI for all their worth. edit and pay £10mil for a company which will go for a song in a fire sale. |
Haha, Remp must be chuffed :0 |
my take on todays news
blah blah blah we said things would be good , now they are not we in talks with a mate who will buy r2s (at a rate reasonable to them)..... (further more we the ones at the top will do alright out of it) just to kill the share price completely we will say today that it may or may not happen ,ps we ain't got any money for our wages so we better dilute some more. they may have well have left school and become muggers...... mugged how does one spell karma ! |
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