Member Info for sam4224

Hi Mike, egm august 10 th to agree distribution of approx US dollar 2.3 per share re funds released from ship sales . Egm details to ge found on grindrod shipping webpage

Hi . I wouldn’t disagree . Annoying but these are the first accounts post the acquisition so hopefully will learn from the experience and not repeated

Just spoken to a contact. Disappointing but annual report will be released tomorrow and nav on Friday. Issue has been marrying the grindrod accounts to Taylors which has been a complex exercise. I am assured nothing sinister, particularly as Grindrod are planning to return cash to shareholders later this year . Contact is reliable.

The board meeting last week was timed for 10 am for it to sign off the report. If they are following the same pattern with more success this week then yes could be. I am going to wait until 12.00 but will then contact the company.

Excellent update and results. Love the above phrase they have used. Could be VERY good

At the moment keeping the faith as should steadily improve post Kestral. Am already heavily into DEC and Taylor Maritime. Any other recommendations for high divs chaps ?

Good news to see a deal, I was beginning to wonder if we would see one this year. Looks a good deal, especially iF mining delayed and then a better royalty figure. Fingers crossed for Wednesdays update

Good morning all from a very wet Suffolk ! Certainly an interesting news week with Wednesdays and Fridays events and probably a conference call thrown in. Two things I believe are currently holding this share back. One are the low charter index's and two the level of debt following the acquisition. The former which is not in the control of the company will hopefully strengthen as China launches its new economic stimulus package . The latter is most definetly under the control of the company and I think this news is key. I understand that some excellent economies of scale are now being achieved but clearly we want the debt deleveraging to hit the targets set by Ed.

Regarding the subject of Grindrod I am expecting very limited news. It has an egm in August with a view to distributing some of the cash from vessel sales to shareholders. The issue is the company is registered in Singapore and regulations there for delisting are fraught with difficulties. Shareholders of Grindrod expected TMIP to have another go after the initial effort and when it did not the shares fell back as a result. At some point I think it will have another go as the business case for keeping two companies wholly separate and with such geographical distance doesn't stack up. I believe the company has intimated this as such in briefings. Personally I think we will see a pause why they achieve the economies of scale and get the measure of staff before moving. Given that the company has aspirations to grow further as debt is bought down I just don't see the two remaining indefinitely separate. But really hoping for good news. I would be buying more now but no spare cash with an imminent wedding to fund !

With the great dividend not least as well as the high broker estimates for this share decided to raise my stake this week only to see it then dip. From what I can see it is a well managed company making excellent profits but the share price just does not seem to particularly budge significantly upwards. Would welcome considered thoughts

Just noticed huge buy of plus 1 million shares on Friday. Presumably an institution buying in . Good all the same

Only just seen so apologies for late reply. Yes I think things are moving in the right direction for the company. Dent from the acquisition is falling rapidly which is key. The thing that has resulted in the share price suffering is that chartering rates have fallen substantially. However, the company forward fixed a number of charters at very good rates. The next quarterly update on July 28 should be key and hopefully result in an improving share price. The board are young and ambitious with a lot of family money invested so I remain highly optimistic even though am down as well at the moment. But I have seen this as a buying opportunity to increase my holding. Good luck to all !

Companies webpage changed to July 26th for the above.

I hope you are right on your two year cycle ! Lets see what tomorrow brings and a week tomorrow.

Hi Mike, don't know if you are still building a stake but if yes when are you tempted to buy ? Before tomorrow, or post July 28 ?

HI Krusty, no probs. Never an easy decision when to buy in and would certainly not offer a view on that one ! I yesterday went through the last two quarterly update sheets. The last said the dividend was covered 2.1 times so fingers crossed there. Probably the more notable point was that the debt from the purchase between December and March had already started to fall. This was before Ed took over as CEO of Grindrod in April and before any economies of scale started to be achieved. I know since then they have been making very good progress on that front. The final point I noted was that a lot of 2023 has already been locked in at higher charter rates. In looking at the BDIY and BHSI indexes this morning just as well. Am waying up myself to buy more. My average has got totally muddled as I originally bought in dollars, then sold to buy in sterling in hargreaves and of course the pound dollar rate has constantly been changing.

At current cash burn it gives them a twelve month window. The problem is that this company moves so slowly that the window will rapidly close. I noted in the release that it appeared to be the only financial option offered to the company with no alternative sources of funds. Clear written statement that unless shareholders voted for it the company is likely to close or be sold off. I have also noted the increasing use f the phrase 'ultimate premium'. Burt seems obsessed by this which is fine as long as he can achieve the economies of scale. Will be interesting to see how the next twelve months plays out and if the board are up to the task.

Hi Krusty, I know the number one goal of the company remains deleveraging after the acquisition. That figure is key. Baltic dry index and bshi not good so still picking up a few when I can.

Hi krusty, great to see you. So far this is healthier for me that tmip but I still have huge faith in the latter.

Painfully quite here for some time and the share price seems to be reflecting it .

Correction ... July 20th