Member Info for 4Corners

Won't be surprised with another extension. Also part of SF's plan could be to frustrate minority shareholders so that they accept any bid

Thought you predicted 'big movement' like 2 weeks ago

Absolutely spot on Si547. Only question is what they do with that much control. And their control is also dependent on the coalition with Mazroui and Horizon, and I would think they want to realize some value out of this, unless they have something else going on the sides. Mazroui had expressed their opposition to last year's bid.

Believe they have to bid at 22p till June, if they wish to take control of the business. Won't be surprised if this is their strategy - drag things out.

Hopefully not the low ballers from SF

https://www.londonstockexchange.com/news-article/ADES/offer-by-innovative-energy-holding/14890500

Transaction in an adjacent space. Bidding consortium includes Saudi sovereign wealth fund PIF. I don't think this is a good deal for minority shareholders, even though there is a decent premium to closing price. Good to see the interest in the space

Illiquid stock with a bid ask spread that an elephant can pass through. The share price movements are never as good or bad as you think it is.

I think at some point, investors feel that this is going nowhere, and decide to sell. - or they need liquidity - or found better risk reward. I mean, we are almost at the 1year anniversary of the bid, and we are still below that bid price! I do agree that its worth holding longer as there is clearly upside, and provides a very compelling risk-reward scenario. I just don't know about who the incremental buyer would be at 10 or 20 or 30p, unless they can clearly show that the debt issue is behind us and we are looking at stable or growing EBITDA - sugarcoating the extension of the debt talks for the Nth time won't cut it

Again, the volumes sold are really not much, so wouldn't read much into it.

Well....."good vibe" and "positive" statements were not expected to do the trick - need to see the concrete plan to get any buyers in. Ideally there is only one buyer - SF & friends. In the meantime, there are plenty of sellers, some of whom are probably just tired of holding this

Some news on the (rumoured) Zakher Marine deal
https://www.rivieramm.com/news-content-hub/news-content-hub/sector-downturn-forces-liftboat-sales-at-distressed-prices-63642

Rollover, by atleast a month. Its the weekend in the UAE where GMS is based, so if there was news, it should have been out by today morning.

Funny that large sells are accompanied with posts by newbies mentioning "good news", "big movement coming"......two of them in the past 7 days.....someone wants to sell I guess

4 days, including today. Most likely will get pushed to next month.....

Only debating the intentions of the current board and SF. If the equity raise did not happen by December 2020, alternate was to issue warrants to the banks which would have diluted everyone (by 20% I believe). Yet the dilution could also be cancelled if they did manage to raise money in 2 years - i.e. issuing the warrants was not a bad option to buy some time on the equity raise, and move forward. SF and Co. pushed back on that as well. So now we have a board which is still focussed on fixing that issue rather than pursuing operational matters, like hitting 100% utilization for example!

Just want them to wrap this up ASAP, raise some equity if possible, and pursue growth opportunities. There are some interesting distressed deals out there for assets. Check out the prices at which Ezion (rather their banks) are offloading some of those assets!

The CEO never said that, but SF trying to meddle with the old board since July and the disruption caused by SF resulted in the old board issuing a statement that said something along those lines. Clearly SF was against raising capital by the old board, for whatever reason. And I don't think its because they can't afford it, because they put in a bid to buy 80% of the company they did not own at 10p, and when it got rejected, bought a 9% stake at 22p!

Raising any amount of money is difficult when you have to raise more than your market cap (which is $50m at 10p) - so unless SF is intending to raise only $10m or $20m, the "difficulty of raising money" problem still exists

I think it was possible, and we dont know precisely what the previous boards plans were as they were ousted prior to launching a capital raise

Because they didnt get enough support for that bid

Well said 547. I am not underestimating the potential of SF and Co. elected (not at all independent) board to destroy value for minorities, till proven otherwise. Not a single share purchase by any of the new board members either. 3 months of negotiations and nothing to show for it yet, while rejecting and killing the previous proposal which didnt seem that bad.

Valid concern about SF's motive....

Looks like u wanna sell at 6. How many shares u got to offload?