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Following Admission the Company will have 48,636,777 Ordinary Shares in issue
IE MCAP is only £4 when cash was £12m?
* they not he
Nope whichever way I read it... its 50p and he owns 25% now:
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").
I'm In.
14m dollar in cash ?
yup... bargain of the day! imo only...
36M shares in issue..... Mcap= £2M.
This looks set to erupt now as word spreads.
50p loan conversion is very strange for a company when price was 3p? Thought it was a typo at first but... doesn't look like it.
6.4 even...
Very low shares in issue too... will move fast (both ways)... and be NT a lot so have to be aware of that before buying imo
In at 6.5... does seem too good to be true but hey... cash here is more than mcap.
So they bought 25% of this company at 50P a share in effect ????
Am i missing something here?
So cash this morning was that... and the loan note adds more to the company... wtf am I missing??
Cash in june was 10x mcap too?
Cash balance at 30 June 2018 of US$14.1 million
why convert into 50p shares when price on market was a lot less? MCAP only 1.5m here? Quick research needed.
50P??? What am I missing???
Quiet here... considering:
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").
and it's time to post again.
Greetings all. Was beginning to wonder if this company actually exists.
Then out came some half year results. I can still feel a pulse !
https://www.investegate.co.uk/nautilus-marine-serv--naut-/rns/interim-results-for-six-months-ended-30-june-2018/201808230700076235Y/
I checked this board every 6 months or so.
With the share price halved in the last 6 months,
this could be my last post.
Don't know about the others on this board (looks like there may
be half a dozen of us) I came into this stock via GED.
Good luck everyone with your next enterprise. Hugh.
The administrative expenses alone are over 6 million dollars a year. For what? At this rate, it won't take long for all the cash to be extracted from this company. I presume that it will then be quietly closed down or the directors take it private for a nominal sum.
An asset of uncertain value is converted into cash generating a gain over book value of approx 1.1 p per share yet the share price falls by 0.25p - why?
I'm not invested here, and only came across it by accident. I was actually looking for Nautilus Minerals. Now that I'm here though and looking at the firm. I take it that with the possibility of a boom in the GoM that this firm might be looking at or be in a good place for investments/contracts?
Hi, I just pop over here every 6 months or so... Does this company have any value or is it time for a bullet in the brain? I ask only incase I've missed anything.. anything good that is. All good things,Hugh (Last time I looked -90%) PS: maestro1...a nice snippet there on Faulkner and Harken Energy. Ta.
Read rns of GLOBAL ENERGY DEVELOPMENT PLC, the old name. This company and harkin lent money and they bought these rust bucket vessels. Naut then bought the rust buckets. Interesting the chairman of naut use to work for Harken energy in past..
Not one of these directors prepared to show there face on their website. http://www.nautilusmarineplc.com/about#board-of-directors
V2cola, everybody has realised that this company is the biggest pile of dogshit on the stock market. Just read the latest set of results and weep.