Member Info for pbody

I dont think the stocks can be affected directly, however those who are nervous or are thinking of "jumping ship" or "getting on board" as news is in the pipeline can be effected. With the share vote (if we knew who owned what) that too can make a difference to the private investors thought process. The raw profitability is utilisation and day rates.That's oil price driven. That will have the big effect on this stock in time imho. One of the seafox proposed NEDs has close links to banking syndicates but there is little mention of their history on the seafox website.
I am assuming seafox has 13 odd% not the 25% in its original statement? As previously stated every RNS has driven the price down since the chair left (including new contracts!). New contracts was not publicised anywhere.
Its a lot of negative reporting earlier giving people the jitters.
By that comment dont think I believe they should rush in an new chairperson either.

the site will come good but its just a case of waiting. teething problems are bound too happen.
looks like it on the move this morning.

is this the support you were looking for gfd?

The Company's banking facilities are primarily sourced from a syndicate of banks based in Abu Dhabi. The Board believes that it would be in the best interests of the Company to consider the addition of UAE non-executive director representation to the Board to support the Company's engagement with the local banking syndicate. The Company will actively engage with its shareholders, including in particular all its principal shareholders in the UAE/MENA region, to identify appropriate candidates for consideration.

Non-Executive Director

The Board is also pleased to announce that Mohammed Bississo will be appointed a Non-Executive Director of the Company with effect from March 2019.

Mr Bississo currently co-heads Kasamar Holdings, an Abu Dhabi-based family office that owns 9.82% of GMS through Castro Investments Ltd. He previously spent more than six years at one of the leading mid-market alternative investments firms, based in Abu Dhabi, UAE, as a member of the private equity group.

Mr Bississo has a BSc in Computer Science from the University of California Irvine, and an MBA from Duke University.

if you want a bit of focus.
every rns or statement released has sent the sp down since the chairman stepped down.

although the volume was low of the he 5 biggest trades 4 were buys......

what are the oil futures like?
might give some indication in change of day rates? and utilisation?
that would have an effect no matter what the other outcomes.

the hardest part in all this is that the community itself is quiet small.
seafox and gms operatations are well known to each other.
if you ignore the grammer (and anyone reading my post ought too!) seafox are looking at the best side of 30%reduction in daily running costs.
they do mention increasing ebitda
they DONT mention getting more contracts?
it makes me wonder if the contracts and the financing are equally such a small world?
I also wonder how many market makers are holding back to see if there is an upswing or if they would have taken the money and run?

not that I have much to offer in constructive guidance at the minute.
it really is sweaty palm time for holders.
dont sell yourself short and jump ship.
you really would have thought corbyn could have bought may some vicks chloroseptic to show some sort of non party good will gesture.
i will mention loans and refinancing.
it is quite probable that until the the vote, any efficiency measures and new contracts have an effect on the books that the financing discussions wont be sorted.
if i could delay until that takes effect i would do.
my thoughts on this are.....better to negotiate from a stronger financial position if you can than from a weaker one.
as to a shariah loan? i do not know if informing shareholders in pursuing one would reduce the chance of it happening?
its an odd view but because the best deal for the company and its financing long term may be to wait its one i hope both of you read and realise there is no one behind either corbyn or may with enough sense to try and build a sense of unity it looks as if they are out just to derail a referendum. if they can hang it out a month or two and use those figures and a new chairman as a basis it might be a better footing? thoughts?

that isn't meant to make anyone nervous or twitchy hold on to your shares, just with seafox in the same industry for about half the time of gms it makes you wonder hat they could bring to the table that isn't a loan! cost saving aside.
looking at the boot being on the other foot.

just when you thought it could get any lower.....

yep cc think you right

there truly is to my mind a positive negative approach.
seafox could be placing themselves in a position of benefit with regards to assets if things go really south......
however that is 2023 and beyond.
I put this forward now as absolute worst case scenario because the oil price would have to remain at sub $50 work be hard to come by industry wide.
it is bordering in crazy to think this. but no one has put that in. probably because it is ridiculous and far fetched.
best say it now just in case serving 2 masters has a conflict of interest.

one thing I am sure of.
it would have cost seafox 10 times as much to buy in to it and driven the price much much higher in the process a few years ago.
low oil prices and poor utilisation (across the industry) are the root of it.
dont be surprised for the sp to climb in fits and starts......it could double at the drop of a hat (without wabbits).
take a look at serco. a bargain under 90pps the financial industry gave it bad press.
same with petra diamonds at 20p....it sure thing.....

will be up 10% tomorrow as logp is on the up.

sry extract
. We welcome our banks' cooperation in managing our 2018 covenant obligations and continue to progress ways of addressing the Group's long term capital structure.

last para

"The improving pipeline of opportunities for our fleet provides confidence that the market is starting to recover, albeit that it is more difficult to predict when this improved demand will be reflected in increased charter rates. We welcome our banks' cooperation in managing our 2018 covenant obligations and continue to progress ways of addressing the Group's long term capital structure. In the meantime, GMS continues to trade effectively and, with our modern, well-invested fleet and a strong track record for providing safe, high quality and cost-effective offshore support solutions proving highly beneficial in tendering processes, we are well-positioned to capitalise on further contract opportunities."

ok
http://www.lse.co.uk/share-regulatory-news.asp?shareprice=GMS&ArticleCode=3t9x4pzb&ArticleHeadline=Covenant_Schedule_Amendment_and_Operational_Update
sorry I spent 20 mins scouring for the rns only to come up with an awful lot about ithmar and seafox not really understanding gms or its operation and costing it more money and not trusting their figures and leaving it with a non independent top heavy and unwieldy board.
yes if it gets to 6p it could be great buy!
I did see it snow in june once......

as regards the loan there was mention in an rns recently I will have to look

well the problem with cost cutting on the sort of job is it usually involves the creature comforts, things like food ......not very savvy for a happy workforce at sea for long periods and doing long hours....that would be just the start of it. sometimes workforce turnover might have had a part to play, sometimes you get what you pay for.
what you dont expect is long periods of low oil prices and fleets (not just gms) not utilised (low day rates result).
lean is one thing....fleet sitting doing nothing is another......