Contrariwise
19 Dec 2018
Dipping my toes in Time to get out. GMS has too much debt. The trading statement is a not-so-coded non-hint that the current capital structure is unsustainable. A debt-for-equity swap looks inevitable. The share price is too low to allow a rights issue. Get back whatever money you can.
Gunnergadin
02 Jul 2018
Dipping my toes in Following the new agreement last week and a non-executive director purchase, also last week, I’ve decided to get involved. Lets see where this heads in a few years.
wastamoney
16 Apr 2018
Hmmmm So no divi's for shareholders but key Directors granted between 125% -150% of their salaries in nil cost share allocations. Appreciate there may be a host of reasons for each but I am not impressed.
wastamoney
27 Mar 2018
Grim Update NM .
Contrariwise
14 Dec 2017
Worried Share price down by 7.7% today on no news and against a backdrop of $60 oil. Does someone know something that I don't? Rights issue?
wastamoney
19 Sep 2017
Interims Grim reading and and interim divi stopped.
The Pieman
03 Aug 2017
Re: Well that went well, didn't it. Hoping today improves. Worth averaging down a bit I think. POO is slowly coming back, using these vessels for wind farms or decommissioning is always going to be a good sideline too. Not a bad punt at 40p or worth averaging down.
Contrariwise
03 Aug 2017
Re: Well that went well, didn't it. Agree. Shocking. 3 months after affirming previous guidance of EBITDA for the year of $100m and an improving market, GMS announces a 40 % fall in expectEd profits and will now breach banking covenants. The deterioration in performance has been both severe and unexpected. Management are either incompetent or were giving an unrealistic view of company prospects 3 months ago. Oil market is improving. But if there is no upturn in utilisation rates soon then a rights issue would seem to be needed to reduce debt. Worrying.
Gunnergadin
02 Aug 2017
Well that went well, didn't it. What a completely unpleasant day today has been.Horrible.
smilingmickey1
11 Apr 2017
Re: Another Good Day I find a daily quick visit to iii will give me RNS details.SM
bamboozled
10 Apr 2017
Re: Another Good Day Yep,good news but I'm frustrated by the service or rather the lack of service I'm getting with Hargreaves.I should have received this RNS this am but didn't ,along with other ones. I may need to sign up to another in order to receive reliable alerts.GLA
smilingmickey1
10 Apr 2017
Re: Another Good Day I seem to be on my own, but the news today of the new contracts for the large rigs is promising even if start date is some way ahead.
smilingmickey1
28 Mar 2017
Re: Another Good Day A quick look at the results indicates no real surprises.Interesting to note the size of the size of the order book has started to expand!st August $170 million1st November $137 million1st March $209 millionThere is still capital being spent of the new cantilever system for the large vessel just completed, in q1 2017, so debt is still increasing since the end of the year. Will be interesting to see how this innovation is received by the market. Still a good potential for a turn round in the business associated with a reduction in debt IHMO.
bamboozled
05 Mar 2017
Re: Another Good Day Should hopefully continue towards results on 28th....
onewayticket
03 Mar 2017
Another Good Day Like many its a patience game.That's 4 today with over 10% gains today alone.Right place, right time.Own due diligence.
