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All seems to be in place..... In February 2017 following approval from our shareholders at the general meeting, the Group closed the two transactions to cumulatively receive: · New capital cash of $10.5 million; and · Vessels and equipment with a fair market value of $13.6 million in exchange for: · Deeply discounted convertible notes with a fair market value of $16.1 million; and · Forgiveness of $8 million of the outstanding principal amount of an existing note receivable.
agree however it will show how much cash they have. £17m was shown in interim
Mr. McG....., Thank you for your email. The 2016 financial results announcement is scheduled to be released tomorrow morning. We see 2016 as the “end” of Global (and its former focus on oil development in Colombia, South America), and 2017 as the beginning of Nautilus. As you may know, we closed our transactions in February 2017. So 2016 will still reflect a holding company along with the transactional costs incurred in late 2016. We see the 2016 results as more of an “end” than a beginning. We will be coming through London in early April for investor presentations (along with posting the presentations to our website) for additional updates for our new business strategy. Best regards, Anna Anna Williams Director of Strategy and Business Development 180 State Street, Suite 200 Southlake, TX 76092 817.424.2424, ext 110 So to set the tone, I'm not expecting anything earth shattering in tomorrows figures other than confirmation of the transactions. The strategy will follow. All in all, this remains a sound investment choice. (LSE Admin, I can forward a copy of this email if required)
How do we know they have so much cash? If they have 30m in cash shouldn't this 5 bag tomorrow?
Lets see how it goes tomorrow.
Tomorrow's news will be reporting of the end of 2016. It should confirm the figures that were invested to purchase the vessels. It will also draw a line under GED and pave the way for Naut. The company is aiming to present at a number of investor shows in April.
Good job news is tomorrow then you little rodent
Point being, it was an over the ask buy.....but thanks for the input
Getting excited over a 6K trade smacks of desperation Cadis!
and the derampers arrive.....seen you too many time boyo - you're not invested, so off you go
Ramp ramp....without news it will fall down to 11p
I take it back, that was for a £6k buy
and so it begins.....
15p to buy around 1500 but nt on 2000
a relatively small amount of buys today has increased the ask by 18% so you decide whether you want to be paying another 10/20/30% tomorrow morning.....or do you get in now?
No catch as far as I can see - its basically a new, cash and asset rich venture so get in now at the bottom.
In order to conclude the deal, GED is to issues notes for a near-term cash injection of US$10.5 million, resulting in a strengthened balance sheet. The company also plans to change its name to Nautilus Marine Services plc, to reflect new business strategy. The transactions represent a reverse takeover that will be subject to a vote of the company’s shareholders. It plans to acquire three vessels from Everest Hill Group Inc through the purchase of all of the issued shares in three vessel-owning companies. It also has a conditional agreement to receive US$10.5 million in new cash proceeds to acquire eight vessels by acquiring the shares in two vessel-owning companies from McLarty Capital Partners, Caleura Limited and Alan Quasha. Chairman of the company Mikel Faulkner said: “We are very pleased to have committed to these acquisitions of the offshore service vessels in the Gulf of Mexico. This represents the company’s first step towards delivering a new strategy of increasing shareholder value by targeting investment and acquisition opportunities in the subsea services sector with the potential for significant upside
Thanks cadis. So basically, there's no catch, people just haven't checked the facts that are held within the RNSs at the time of RTO?
Reason its cheap at the moment is that the name is new - only since 8th February this year. Not yet published the following figures in accounts - ......... (cash in bank confirmation and forthcoming amounts) In accordance with completion requirements, the Company has received in $3.0 million in cash proceeds and has issued the pro-rata share of Convertible A, B and C Loan Notes ("Convertible Notes") to McLarty Capital Partners and Caleura Limited. The remaining cash proceeds of $7.0 million and $500,000 are scheduled to be received on 31 March and 15 April 2017, respectively, and the remaining pro-rata share of Convertible Notes will be issued accordingly.
at 14.5p. Not understanding why its cheap. Financials will clear things up :)
fundraiser, I've been reading through the RNSs for the previous firm and this really does seem like a no brainer, just that the market is unaware. Is there there a catch? Is the cash actually in the bank or is it now part of investments? I also notice the CLNs which appear to be exercisable at 50p... That's a big increase from today's price, but they are exercisable for many years. Any information appreciated as there's not long to get in before tomorrow now :)
Yes exactly we have got rid of the weak and by weak I do actually mean the most weak impatient impressionable novice ridiculous investors I have eve come across, may aswell buy a share then 10 mins later sell out based on an article written by some nobody giving his opinion on some ships 2 months ago when the price was above 18p, anyway anyone with an ounce of intelligence will know that when I tipped this at 11p it was a good tip even if the ships were plastic toy boats the cash is still a 5 bagger
in advance of tomorrows fun and games (of which there will be a few, no doubt)
Fully agree this board has been infested with people who don't know what they are talking about, take the article ****ging off the ships that was posted, some stated that the article caused them to sell lol so an article written by someone with zero credibility and no experience in investing giving his opinion on the age of the ships and this makes some ppl sell out at a loss, you couldn't make it up, negatives can be found in every aim company I could argue that naut is worth triple what matd is worth as they have triple the amount of cash and assets, matd have no tangible assets at all just a bunch of data spreadsheets, no oil no assets just $10m in cash, I am not going to get involved in any arguing on this board with the de rampers, I will just let the rns's do the talking, gl all and speak again tomorrow
my stand on this is i agree BOD will have to get a really positive statement out for the pis to return, dont get me wrong i am in coz on paper well under valued so lets see what tomorrow brings, but if your not in today then i can see a gap up on open, gla zooooooomer