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Lot of big sells going through. Not sure if its all the same entity; City Financial maybe, or a bitter Ithmar getting rid of their holdings. The 120,000 buy is a pretty good sign; at least someone is confident (but hopefully its not Seafox on a power grab).
FFS , i've done it again, about a month ago this was riding high at 23p . should of sold , looked a day later , it was down at 19p . now we're at 15p . i might be wrong , but take any profit you can just now on any share and run to the hills . Big global downturn coming in the next few years .. or maybe this will rocket back up in the next month and politicians will agree with each other for once . i doubt it !!!!!!!!!!!!!!!!
@14.5p 4 very tiny trades at end to bring the price down.
Don't bicker on here please, this is an unrelated board.
To 14.5p
just logged in and another drop ,we need to get this sorted as dropping to low now
Not trying to scare anyone out. You will see I've stated in my last post it's a bargain at this price.
I'm stalking this share and will pounce at some point But Because of CF 10.5 million shares this is a sell currently but at this price it's a bargain but should go lower. Not trying to annoy anyone on this board. Just my opinions people.
Hang in there, bud. You've done the hard bit and It's not long now to wait in relative terms.
Nothing but bots playing with themselves to idle the time away. I can't remember the last time there was a sell involving any serious quantity.
i am not a trader not got the time to look for quick profits,liked the way this company were heading and hoping that by end of month this is in the mid 20s
the bots can play a part but normally it is to get low then buy and sell high ,but not seeing this peaking and troughing only going down.
last thing i want as i want to make money
Im sure the 18th will shed some light on where this is going. Til then im holding tight.
this boat is starting to sink
well my broker (AJ BELL) didn't send any tick form through for the vote even after email them last week. so i would send off to the address below.if you want to vote!
looking at all the run of sells this morning looks like some people are getting nervous and want out?
all i can add is hold your shares.
not long now.
best of luck for the week ahead.
All duly completed forms of proxy must be received by post or, during normal business hours only, by hand, by the Registrar, Equiniti Limited, at Aspect House, Spencer Road, Lancing, West Sussex, BN99 6DA, by no later than 9.00 a.m. on Thursday, 14 March 2019.
there are several things that probably will....could. there are probably some I cant think of.
the chairman being appointed. is probably one big definite one no matter what the outcome of anything else will make a difference.
what will it take to get this share moving fast?
have to admit.
20 million in savings would definitely push GMS back into profit.....
http://www.morningstar.co.uk/uk/news/AN_1552067559874041400/update-ithmar-withdraws-resolution-to-reshuffle-gulf-marines-board.aspx
http://www.morningstar.co.uk/uk/news/AN_1552058351463731100/update-gulf-marine-services-shareholder-seafox-stands-by-resolutions.aspx
http://www.morningstar.co.uk/uk/news/AN_1552038546832875400/gulf-marine-finds-usd6-million-of-savings;-looks-at-refinance-options.aspx
http://tools.morningstar.co.uk/uk/stockreport/default.aspx?tab=3&vw=story&SecurityToken=0P00012E77%5D3%5D0%5DE0WWE%24%24ALL&Id=0P00012E77&ClientFund=0&CurrencyId=BAS&story=405631743840641
best of luck for the week.
StockMarketWire.com - Support-vessel supplier Gulf Marine Services said its lenders had agreed to amend its financial covenant schedule, though it still did not expect a recovery in its trading performance in 2019.
The company said it now expected to be in full compliance with all of its covenants when they are tested against its audited 2018 financial results.
Gulf Marine Services had previously announced the award of three long-term contracts in the Middle East and North Africa region, each with a charter period of five years.
The first of the vessels had now commenced operations and the company was finalising the start dates for the remaining two.
Another client had exercised an option to extend the charter of a mid-size class vessel by six months, while a small-class vessel had started a four-month charter and large-class vessel had just won a five-month charter.
Gulf Marine Services said its backlog, including options, would increase to more than $260m, from $121m at the end of August, once all the new charters had commenced.
However, as previously announced, it said it did not expect a recovery in its trading performance in 2019, despite continuing improving levels of utilisation.
'The improving pipeline of opportunities for our fleet provides confidence that the market is starting to recover, albeit that it is more difficult to predict when this improved demand will be reflected in increased charter rates,' chief executive Duncan Anderson said.
'We welcome our banks' cooperation in managing our 2018 covenant obligations and continue to progress ways of addressing the group's long term capital structure.'
also found a dealer rating of hold and a target price of 65p on Hargreaves Lansdowne site but it wont let me copy or paste or put in a link.......
on loans...which look to extend out tp 2023.....
StockMarketWire.com - Gulf Marine Services has agreed a two-year extension to its existing bank facility with final maturity in 2023 and scheduled loan repayments reduced by two-thirds in both 2018 and 2019.
The financial covenants amendments and certain restrictions on capital expenditure and dividend payments previously announced on 9 Aug remain unchanged.
A cash sweep mechanism, effective when the leverage ratio exceeds 4 times EBITDA, has now been established from 2018, where 75% of surplus free cashflow (after adjustment for permitted payments and maintaining a minimum cash balance level) will be applied towards repayment of bank debt.
Chief executive Duncan Anderson said: 'We are pleased to announce this two-year extension to our bank facility and the significant reduction in our capital repayments over the next two years.
'We appreciate the strong support our banking partners have shown for our business model.
'This new agreement will provide the Group with the improved liquidity and the financial flexibility to allow us to benefit from the market recovery.'
there hasn't been much activity in the volume recently,
but someone is sweeping all the shares up at 17p........
may I just remind you ebitda is better than 60 million US
7.5 to 10 times is usually rough guide to market cap.
so 450 to 600 m as a approx.
would indicate a SP of 130 to 170.....ohh come back oil price!!!
Reading it again perhaps I am coming across as too harsh, but I am putting my faith in the present board when they state SEAFOX proposals are NOT in the best interest of present shareholders.
maybe there will be mention of wabbits in the next RNS........if they can slip it in even as a typo I would be comical.
soothing typo "read" something.
I dont know much about SEAFOX.
I do know they are not controlled by shareholders.
I did find this.
Private equity firm NPM Capital is to sell its interest of 35% in Seafox Group to a consortium of foreign investors. Seafox Group is the parent company of Seafox Contractors and Workfox, subsidiaries that are active globally in the market for leasing and operating self-elevating jack-up units and support vessels for the offshore industry. The sale follows on from the recently announced merger between Seafox Group and Millennium Offshore Services. The new combination, which offers 12 ‘jack-up rigs’ (platforms) and 45 temporary accommodation units for offshore, is set to be the largest player in the world in this field.
NPM Capital, along with the Cordia and Van der Lely families, will transfer its shares to the new group of investors.
I thought it was now owned by cordia group. NOT SURE.
personally I think seafox is low balling the SP.
last thing you would want is a person positioned from a firm on a board who can be more opportunistic for someone else with your assets and keep them informed than you are for the shareholders'.
with SEAFOX not being listed the books dont need to be audited independently? figures or proposals may not be all that accurate.......soothing the board has tried to state I think.