The way forward...29 Apr 2017 16:02
I've just had time to read through the comments made today, and starting with the earliest - Saints7, Fulmar, Samewise, Shaoof, cjgoldsmith, bushy69, and others... we all view this the same way. People referred to "having given GP the benefit of the doubt" [I believed the same], and Saints7 made the astute observation that this either a "blinder" played by GP, or simply as it appears on the surface - shafting of the PIs.
It will be interesting to hear ludeck's views when he's back in circulation, as one of our (several) measured and objective posters. I was a little surprised by his comments yesterday where he seemed somewhat resigned and subdued. I look forward to his further perspectives after he's digested more.
Meanwhile, I'm aligned with Fulmar... if this bid doesn't go through (and I will join any action to help see that it doesn't), one priority would be to vote GP out.
I also strongly agree with Samewise: that we must press to get MARL to reveal the company's true value, and press for "investigations" if that is deemed appropriate. But how?
Four thoughts/questions:
(1) if it comes to it, is there one of our LTH and regular posters who can lead us, and propose a way ahead? This is probably not the correct time to mount such a focussed effort, but perhaps that time will come, and we might benefit from someone proposing the way forward. Otherwise, are we all merely venting our spleens?
(2) at the same time, I do wonder how much weight (in terms of shares) this BB board will carry? I suspect we have a few tolerably large PIs, and perhaps together we might even total 10%. Most shares (I am guessing, WTFDIK) will be held in nominee names, or will be people who have not been long term-holders/believers/supporters, and will be happy to get out with a decent enough profit, although one deeply discounted to what we believe is the true value. In other words, whatever noise we make, we may just be totally irrelevant. I am sure GP is assuming this to be the case. Perhaps the time will come when we need to do a share count?
(3) for what it's worth, and quite irrelevant to where we are now, I think I misjudged ER. I would not have thought him capable of mistreating PIs so badly. But, hey, WTFDIK.
(4) to take the contrary view for the moment: if there is still value in HM and Ergama, is that value not still there when MARL is taken over by SAND? Are we correct in feeling that we have been stitched up, or has this actually not reduced much of our future geopolitical risk? I know there is dilution (probably too much), and we can surely see that SAND's performance over the past 3 years has been modest (at best). But it's also a young company, and HM will contribute much to its income stream going forward. Well, I'm not convinced, but I wanted to raise the question explicitly.
Cordially
Lionel
Sign In
Follow the stocks
