Patience25 Aug 2009 14:32
Seatrans are not effectively paying fior the shares, they are getting them in return for services that they will provide in the future, If you take the Seatrans profit margin from the 21.52p they are probably getting them at very close to todays price or that of last Friday. The good thing for Seatrans is that they have the work and if they do it well and OHM benefits tghen the share price will go up. In OHM's case they will not have to pay for the work from working capital. In fairness it is not a bad deal but both parties will have to produce the goods. the pressure is not on each of them and with the oil price going up there is a fair chance of a good return for all involved including us but patience will be required.