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In reply to: jazzmoo on Tuesday 17/04/07 10:16am

Neptune marine services is believed to be raising $34m from investors as it lifts the pace of acquisitions under chief executive Christian Lange.




As neptunes share price chart shows, the company is in a sweet spot as it expands globally in the field of servicing and repairing of offshore oil platforms in regions such as the Gulf of Mexico.




At least one of the two acquisitions Neptune is poised to announce is in the US, and market observers expect the deals to be substantially earnings accretive.




In fact, expectations that Neptune will earn about 4.5c a share next year are likely to be lifted to around 6c a share.




As with its previous capital raising, Neptune is likely to use Patersons Securities to raise the funds at 60c a share. Realising the funds shouldn't be a problem after the performance of the last raising and the markets high regard for the mining services group.




The acquisitions are said to have been struck around 10 times earnings and follow Neptunes recent acquisition of Link Weld Engineering and the securing of a second major repair job on behalf of oil companies operating in the Gulf of Mexico.




Lange has even attracted Macquarie Bank as a major shareholder. The bank holds a hefty stake of 24.7%.


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In reply to: omegaoil on Tuesday 17/04/07 10:45am

omega - pretty good - even quoted 24/4 when it was still just a max 2 day halt, subsequently trumped the halt with a suspension - so that makes your 24/4 look good. Any sly hint in your last post?

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Hey All,


Bit of info in todays West Australian: the capital raising is expected to consist of


a $30,000,000 placement to which is apparantly heavily supported and a $4,000,000


rights issue pitched at 60c the new businesses are supposed to add $20,000,000


a year in revenue , the deals "2 of" will be paid for with cash and an issue of shares


to the value of $40,000,000 the companys are believed to be US diving comanys


based in the Gulf of Mexico .


Well there we go a big move for NMS, I recently sold my shares in the company


for 67c after holding them since Adam was a boy, have made good profit from day-


trading NMS as well , it certainly was the end of an era in this house hold the day


I did sell them, right or wrong I`ve moved on to other investments.


Good Luck to Holders {hope you make a squillion}


Cheers Radd. http://www.sharescene.com/html/emoticons/biggrin.gif


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