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the hardest part in all this is that the community itself is quiet small.
seafox and gms operatations are well known to each other.
if you ignore the grammer (and anyone reading my post ought too!) seafox are looking at the best side of 30%reduction in daily running costs.
they do mention increasing ebitda
they DONT mention getting more contracts?
it makes me wonder if the contracts and the financing are equally such a small world?
I also wonder how many market makers are holding back to see if there is an upswing or if they would have taken the money and run?
I agree with Mr Duck regarding Brexit. I’m now only involved with stocks that operate outside the U.K./EU. There will probably still be a little bit of a hit due to failing optimism or panic amongst U.K. investors but ultimately the operations of the co. are a separate matter and shouldn’t be adversely affected. Heck, maybe the more global operations will become more attractive to investors as the European economy sorts itself out in the aftermath, though I can’t say that wether that is likely or not.
pb - thanks but I see a distinct advantage in putting to bed a new deal with the Banking Syndicate asap. Hopefully, we'll not be inextricably locked into that - it would be highly unusual were we to do that. Then, if a better deal can be brokered elsewhere, or offered to the Co from some other source, we will can 'jump ship' and run with that instead. I'm not convinced that Brrrrexit etc will be impacting anyone involved in the discussions surrounding the Co's finances. The Co itself, geographically, is well removed from the UK and the Eurozone/Europe. In the UAE money has a different meaning and a different value. This has always been so and it's something that Western cultures have always had difficulties getting their heads around. We're not good at understanding other cultures' values in this country.
I think a strong chairman will be a godsend. Perhaps that could be Mazrui but as ive stated earlier the man has been very tight lipped about his vision for the company (or anything else for that matter). If i recall correctly they have a few promising candidates. Maybe after the resolutions at the gm are out of the way they might offer someone the job.
not that I have much to offer in constructive guidance at the minute.
it really is sweaty palm time for holders.
dont sell yourself short and jump ship.
you really would have thought corbyn could have bought may some vicks chloroseptic to show some sort of non party good will gesture.
i will mention loans and refinancing.
it is quite probable that until the the vote, any efficiency measures and new contracts have an effect on the books that the financing discussions wont be sorted.
if i could delay until that takes effect i would do.
my thoughts on this are.....better to negotiate from a stronger financial position if you can than from a weaker one.
as to a shariah loan? i do not know if informing shareholders in pursuing one would reduce the chance of it happening?
its an odd view but because the best deal for the company and its financing long term may be to wait its one i hope both of you read and realise there is no one behind either corbyn or may with enough sense to try and build a sense of unity it looks as if they are out just to derail a referendum. if they can hang it out a month or two and use those figures and a new chairman as a basis it might be a better footing? thoughts?
that isn't meant to make anyone nervous or twitchy hold on to your shares, just with seafox in the same industry for about half the time of gms it makes you wonder hat they could bring to the table that isn't a loan! cost saving aside.
looking at the boot being on the other foot.
there truly is to my mind a positive negative approach.
seafox could be placing themselves in a position of benefit with regards to assets if things go really south......
however that is 2023 and beyond.
I put this forward now as absolute worst case scenario because the oil price would have to remain at sub $50 work be hard to come by industry wide.
it is bordering in crazy to think this. but no one has put that in. probably because it is ridiculous and far fetched.
best say it now just in case serving 2 masters has a conflict of interest.
one thing I am sure of.
it would have cost seafox 10 times as much to buy in to it and driven the price much much higher in the process a few years ago.
low oil prices and poor utilisation (across the industry) are the root of it.
dont be surprised for the sp to climb in fits and starts......it could double at the drop of a hat (without wabbits).
take a look at serco. a bargain under 90pps the financial industry gave it bad press.
same with petra diamonds at 20p....it sure thing.....
thanks for that gfd.
after a large drop like that and large firm buy in I think they should display to clear the air and uncertainty.
I will look in the end of your results if nothing else.
a reduction in a major holder was displayed iirc from oct 15. from 5 to 3.5%
tipped the share price on a downward iirc.
yhey should basically it stops all the speculation who owns what and have they or not sold.
or in this case how much has moved and how much have seafox acquired........just to clear it.
Must go. Things to do, people to see. Have a good day one and all.
I will most likely be voting against Seafox, im seeing them as something of a spanner in the works.
GMS website, I should have said
I took up with the Co Sec that the GMS doesn't show Significant Shareholders. She explained to me that they don't need to do this because they are main market listed. Only AIM companies have to do this. There is, however, a list of Significant Shareholders in the full Results, I recall her saying but I didn't bother to ask looking because there's been so many changes in holdings since those Results were last published. I've better things to do with my time. Once the dust has settled on the storm created by Seafox, II's will pick up the stock on Brokers' and analysts Buy recommendations.
Ok if you wany my opinion, I believe the company will recover in the long term. There will be no whooooshes, magic tricks or share price unicorns. Once the general meeting is out of the way, i believe there will be a little turmoil whatever the outcome, so we will have to wait until things settle. My first real milestone is the commencing of the 1st contract. That should make the balance sheet look a little healthier. I relish the possibility of full shariah loan gfd but until GMS state that they are actively pursuing or negotiating one I cant factor it into my long term vision.
Voting Mazrui onto the BoD makes more likely, IMHO, the possiblity of a wholly Shariah loan to replace the existing lending. That's why I'm going to have my Proxy vote for his appointment as a NED. How are you voting on Seafox's Resolutions Timmy?
dont kid yourself.
yesterday was not a massive sell. it was all sells just about and that's why the bid dropped away.
that was twitchy holders jumping. the largest sell was around 7000. that was people selling as it became available to be matched at that volume.
why very very small trades(below the value of the commission) take place I can only surmise its resetting bid or ask so the spread isn't too far apart if the trades are all in one direction.
such as yesterday and a bid of 14.5 and an ask of 16.
it could be automated to reduce spread......that's a possible. it could be small trades to keep the market open (as no matches to an ask or bid due to lack of interest) will mean no trade can be matched.
I think sp move when people are interested and they think there is value or not.(divvy or under/overvalue).
gms is not interesting to people that wave stopped with the 18p offer. it lost momentum. people lost interest.
a wabbit or parachute loan or whatever you want to call it is the sort of thing that wold kickstart it (with peoples interest I mean).
this is really off tack for the general meeting heading
covenants agreed(allowing for reduced debt)
new contracts (increased utilisation)
didn't really make a difference......
chair going did!
sometimes it as much the spin on a position (its all going to cock) that make people forget the basics.
oil is low, firms dont want to spend, utilisation of 58% that's half the boats sitting around ffs! no wonder they were crapping bricks.
that's up to 72%.has the sp gone up? its not the answer to all the problems but it didn't jolt the sp like it should,
with a 920million fleet and debts of less than half that it isn't going bankrupt.
it does make me wonder now who holds what though as far as shares over 3% holding.
these should be notified to gms. and displayed for public inspection.
after the meeting that might be a good thing to release an rns all the shareholders know who owns what........they should display any holdings over 3% and any whole percentage change. above or below. btw they should be informed by the shareholders and then release the rns.
I could not find all that much on seafox ownership and the board said be wary of their figures.......
longer message than had wanted and off tack....sry.
best of luck for the day.
Tripe Timmy. The current volumes are nugatory. This is more like an illiquid AIM stock than a main market stock atm because there are so few shares being sold. Peeps, other than Traders, are holding fast. And if you can't see Bot activity then you need your eyes testing. OK. You don't want any levity on the BB. That's fine. But it doesn't affect the possibility of a wholly Shariah loan to replace the existing part Shariah lending facility.
i think mr duck is trying to lay out how he feels the whole situation should pan out for best results.
it is his opinion and we can read it agree or disagree but agression not needed.
timmytradeface lets have you opinion about how or what is likely to happen
Not particularly. Just trying to keep things in focus.
bit aggressive this morning
Stop this wabbit nonsense, its getting old. Its pure speculation that that is the kind of loan they are actively seeking. Its the whole 'THAT rns' rubbish all over again. And your talking about mysterious bots holding the price down. No thats called massive sell volume, its completely normal market activity. Lets just stick to facts and relevant information please.
An RNS with details of the new deal with the Banking Syndicate, sooner than the General Meeting, will help. And if someone can pull that wabbit out of the hat...
Yup. Still think that the meeting should be delayed till after publication of the Results though.
we shall soon find out the real results.....
the financials are released just after in the 26th?
Mazrui seems to have qualities, contacts and experience that could be beneficial to the Co.