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I’m sticking with the turnaround plan and have confidence the board will deliver in time. As seafox increase their holding in the market I wonder what influence they can wield. I say keep them at arms length. I’m holding.
see the RNS Monday interesting are they also building a stake Saudis are coming oil storage is big commodity now i would say
Was off book via a market maker, interesting to see who was on the other side, there's been limited liquidity to build that position....
Seafox aren't finished yet......
gms £1m buy at 10p - can buy at 7p - net assets 370m - mcap 20m - up for sale
Good news in RNS for long term holders. The banks have backed the board and their turnaround plan.
Unless the lenders force the board to take it Si
Well, they didn't cut and run with the offer at 18p and the Company in a far worse position, so I have to hope that they will be just a unsuccessful at 7p!
For anyone down a big amount, isn't this a massive opportunity to average down?
It doesn’t really matter what we think. It’s the financial backers opinion that matters. The question is whether they will force the board to accept the offer or agree to sign off on the proposed turnaround plan. I really hope they have enough confidence in the new board to decide on the latter. In truth the Seafox offer was perfectly timed to force the issue. Although they allegedly previously made a move to establish a holding at 18p they got fried. So they are unlikely to come up to that level. It’s poses a real dilemma for the funders. Do they cut and run or do they retain their faith in the board.
Mathew, perhaps need to bear in mind that virtually all the market is down today.
Disappointing that the ask hasn't at least moved up to the offer price. The current spread is a joke!
Seafood has laid a marker will need 12p Imho
Better than fair I reckon. Exceeded the previous EBITDA advice, exceeded their target to reduce costs, E Class barges moved to MENA already working or mobilizing for work. For me all going in the right direction; no way I would support a takeover at 7p!!!! Need to be minimum of 30p to have any chance as far as I’m concerned.
With the results seems fair???
Phffff!
Exactly, so 7p....
The info is all in the 2nd RNS and it’s 0.09USDs not £s
Sound advice from the board. The turnaround is underway and the company is stronger. I wonder whether the financial backers will force the issue with the current board or will they show confidence that we are on the right track I’m sitting tight!
I was starting to think an offer would never come. Anyone have any idea when an official offer will be made?
9pps....Would You?
Too true. For Seafox it's Lots of new assets. (and order book) On the cheap.
I can't see why the board would spend the last year doing all the hard work of reorganising the firm, negotiating with the banking syndicate, lining up a capital raise, to then support a buyout at these levels. IMO this is Seafox anchoring (excuse the pun) for a more sensible pricing point down the line. (I hope!)
yep 18pps. At the time most thought less than 30pps was ludicrous. This offer may swing the shareholders. And maybe more than the last........You can only live in hope.