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Won't be long before 1p is breached.
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Global Energy Dev. (NAUT)
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Monday 16 January, 2017
Global Energy Dev.
Proposed Reverse Takeover & Notice of GM
RNS Number : 1907U
Global Energy Development PLC
16 January 2017
Immediate Release 16 January 2017
GLOBAL ENERGY DEVELOPMENT PLC
(the "Company" or "Global")
PROPOSED REVERSE TAKEOVER
PROPOSALS TO ACQUIRE SUBSEA SERVICE VESSEL OWNING COMPANIES
AND TO CHANGE NAME TO NAUTILUS MARINE SERVICES PLC
APPOINTMENT OF EXPERIENCED OFFSHORE ENERGY SERVICES OPERATIONS DIRECTOR
Global Energy Development PLC (AIM: GED), is pleased to announce that it has today conditionally agreed to purchase 11 offshore subsea service vessels and a barge vessel as it seeks to adopt a new business strategy focusing on the subsea oilfield services sector.
Highlights
General
· Global has entered into two share purchase agreements to acquire a total of 11 offshore service vessels, a barge vessel and other related equipment through the purchase of 100 per cent of the issued shares in vessel-owning companies
· All vessels are currently located in Louisiana USA with direct access to the offshore oil and gas fields in the Gulf of Mexico
· The acquisitions will mark a fundamental change in Global's business strategy as these transactions are the Company's first step into the global subsea industry. The Company seeks to make counter-cyclical investments within the global subsea industry that will enable it to capitalise on future recoveries in the oil price and related increased requirements for offshore support services
· Vessels will be able to operate in depths of up to 300 feet and, in the case of one vessel up to 5,000 feet, opening a large addressable market for the Company
· Global to issue Convertible A Loan Notes for near-term cash injection of $10.5m resulting in a strengthened balance sheet with which to further pursue the new business strategy
· Convertible A Loan Notes of $10.5m when fully issued have a 50p conversion price, coupon of 8 per cent. and a maturity date of 1 January 2027
· Proposal to change name to Nautilus Marine Services PLC to reflect new business strategy
· Transa
Tranch B Loan notes at 160pTranch C at 225p
Next wave of Buys coming in now. Leg up again shortly.
Bouncing now
Day ahead
this morning....
I understand within the next couple weeks; basically anytime soon....
15-20p doesn't appear to be a tall order given the low share issue and potential revenues. Very interesting play clearly under the radar at the moment...
Ticking up nicely on a few buys. Rerate appears to be continuing.
NS Number : 2683B Atlas Dev & Support Services Ltd 05 October 2015 Atlas Development & Support Services Limited / Ticker: ADSS / Index: AIM / Sector: Support Services 05 October 2015 Atlas Development & Support Services Limited ('Atlas Development' or the 'Company') Share Price Movement Atlas Development (AIM, NSE: ADSS) the Kenyan headquartered, African focussed support services and logistics company, notes the movement in the Company's share price. As noted in the Company's interim results announcement on 17 September 2015, in light of the current state of the oil and gas market, the Company continues to implement initiatives aimed at further diversifying the Company's offering and identifying new sectors of operation. In particular the Company is targeting increased workflow arising from potash development in Ethiopia. Further announcements will be made, if appropriate, in due course. ** ENDS ** For further information p
People have started taking there positions after seeing what GATE has done over the last week or so.
A few sellers will help with liquidity as there aren't many shares knocking about. This has masses of potential and this is only the very very start!
Only a tiny £1.7m
Volume looks to be picking up. Money from GATE coming now??
Picking up, peeps taking there positions ready for the start!
60p ish is pretty much the floor anyway so only really upside from here which could be massive if the right deal comes off.
Yes Golden i think folk are finally beginning to realise how much potential there is here. £1 is still very cheap IMO. News is long overdue and could send this share up to the moon!
93k you mean lol. Only 2.4m in circulation