Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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See admission document here:
https://s3.amazonaws.com/govmedia/nautilus/Admission+document.pdf
It states on page 21:
Maturity date is ‘1 January 2027 (unless converted to Ordinary Shares before then). Payments on maturity are to be settled in cash.’ and
‘The outstanding principal amount will be convertible into Ordinary Shares at 50 pence per share (the ‘‘A Conversion Price’’), subject to adjustment in certain circumstances.’
The question is why convert now?
why covert at 50p?
when share price was 4p.
will it be back to 3.80p at close
Looks like a sell if you compare with trades at same time. Imo
Moves so quick. Tiny number of shares in issue
Back in. It’s a no brainer.
has a twin ?
It’s convertible debt, so reduces the debt rather than increases the cash.
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
Can’t BUY or SELL on H-L
You've collected enough.
Go again!
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Global Energy Dev. (NAUT)
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Print Mail a friend Annual reports
Monday 16 January, 2017
Global Energy Dev.
Proposed Reverse Takeover & Notice of GM
RNS Number : 1907U
Global Energy Development PLC
16 January 2017
Immediate Release 16 January 2017
GLOBAL ENERGY DEVELOPMENT PLC
(the "Company" or "Global")
PROPOSED REVERSE TAKEOVER
PROPOSALS TO ACQUIRE SUBSEA SERVICE VESSEL OWNING COMPANIES
AND TO CHANGE NAME TO NAUTILUS MARINE SERVICES PLC
APPOINTMENT OF EXPERIENCED OFFSHORE ENERGY SERVICES OPERATIONS DIRECTOR
Global Energy Development PLC (AIM: GED), is pleased to announce that it has today conditionally agreed to purchase 11 offshore subsea service vessels and a barge vessel as it seeks to adopt a new business strategy focusing on the subsea oilfield services sector.
Highlights
General
· Global has entered into two share purchase agreements to acquire a total of 11 offshore service vessels, a barge vessel and other related equipment through the purchase of 100 per cent of the issued shares in vessel-owning companies
· All vessels are currently located in Louisiana USA with direct access to the offshore oil and gas fields in the Gulf of Mexico
· The acquisitions will mark a fundamental change in Global's business strategy as these transactions are the Company's first step into the global subsea industry. The Company seeks to make counter-cyclical investments within the global subsea industry that will enable it to capitalise on future recoveries in the oil price and related increased requirements for offshore support services
· Vessels will be able to operate in depths of up to 300 feet and, in the case of one vessel up to 5,000 feet, opening a large addressable market for the Company
· Global to issue Convertible A Loan Notes for near-term cash injection of $10.5m resulting in a strengthened balance sheet with which to further pursue the new business strategy
· Convertible A Loan Notes of $10.5m when fully issued have a 50p conversion price, coupon of 8 per cent. and a maturity date of 1 January 2027
· Proposal to change name to Nautilus Marine Services PLC to reflect new business strategy
· Transa
Tranch B Loan notes at 160pTranch C at 225p
Probably missed it, I'd be careful buying in now. Suggest waiting for any movement
missed the boat here folks? Thanks in advance.
If McLarty thought the company was worth 50p why give up $1 of debt to get a share they could have bought for 4p yesterday? Maybe they think it is the only way of getting anything back from their deep discounted long debt. Which might well mean taking control and liquidating, Optimistically NRV is 10p max. Thanks to all the daft punters for the day's killing.
Its going to move fast both ways... did post that... and most the time its NT to fill an order. Low shares here.
The mm’s still want the stock. Amazing!
Bouncing!!!!!! 500% rise on the cards.......do the maths!!!
So little float
Only way to pick up some shares.
MMs make money off the trading so need to shake some loose then go again. Double their money doing it twice (or more)
At this price and mcap looks cheap to me so not in a rush to offload
watching too risky , but interesting I think it will go up again if 50p is correct
110% shakey
Cave mate... I always said it was a risky punt... and stated when I sold... unlike some here.