MRM, MERMAID MARINE AUSTRALIA LIMITED

[blacksheep]

Battered MMA Offshore and Neptune Marine Services announce merger deal
Sean Smith
The West Australian
Wednesday, 24 July 2019 2:54PM

Struggling marine services companies MMA Offshore and Neptune Marine Services are combining in a cash and script deal aimed at capitalising on a recovery in the offshore and subsea engineering markets.

The tie-up is structured as an $18.5 million-plus buyout by MMA of Singapore-controlled Neptune’s key operating businesses.

Neptune would receive $5 million in cash and the balance in MMA shares which would be distributed to its shareholders “as soon as practicable”.

Depending on the value of the shares when the deal is finalised, the agreement could value Neptune at as high as $21.2 million.

Neptune posted a $3 million loss on revenue of $84.4 million in the year to March 31, while MMS finished $27.7 million in the red on revenue of $119.5 million.

Neptune said that though the outlook for its subsea markets had improved in the past 12 months, the company had experienced “significant challenges” in recent years.

The tie-up with MMS, it said, provided a means of unlocking the residual value in the group while enabling shareholders to maintain exposure to the marine market.

The deal is subject to the approval in October of Neptune shareholders, led by Singapore parent MTQ.

https://thewest.com.au/business/energy/batt...-ng-b881270038z

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[blacksheep]

In Reply To: blacksheep's post @ Dec 18 2017, 10:21 AM

Seems to be a bit of interest in this one - no news other than Tribeca increased their holding from 5% to 6% - up 9% @ 24c

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[blacksheep]

In Reply To: blacksheep's post @ Dec 12 2017, 06:59 PM

Billionaire investor Michael Kum mulls legal action against MMA Offshore directors

But the company launched a $100 million recapitalisation two weeks before the AGM, with funds marked to help the troubled offshore oil and gas fleet services company repay debts and reduce gearing, which was 111.4 per cent as at June 30.

Several well-known fund managers supported the equity raising, with Paradice Investment Management and Thorney Opportunities piling into the stock.

But dissident shareholder Halom did not take up its rights and has been diluted to just 7.86 per cent from 18.1 per cent.

Read more: http://www.afr.com/business/energy/oil/bil...m#ixzz51ZEb1fdH

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[blacksheep]

Posted under 2018 Stock Picks thread

Apparently he likes/is particularly excited about ANG - Austin Engineering, (Thorney had helped fix their leadership and balance sheet). Others are Southern Cross Electrical Engineering - SXE - and MMA Offshore - MRM.

Alex Waislitz's next tip is to get into mining services stocks

Ann out today that AW's Thorney (TOP) has become a substantial holder in MRM with 5.45% - http://www.asx.com.au/asxpdf/20171212/pdf/43q3kxkr8dkqg0.pdf

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[mercury]

who is dumping and why?

Is the oil service industry going along that badly?




Merc

[arty]

In Reply To: kennowaylass's post @ Feb 6 2015, 01:23 PM

If you haven't heard of the "4th attempt breakout". check this site: http://bartrade.biz/trades/hvn.htm
It is equally powerful in a downward direction, and I've applied it to MRM's 2014 chart (using sem-log scaling too_



In my experience, the drop will at least double the range from top to baseline (marked by 1...4)
The alert at the 200% line did fire, but MRM failed to follow through. Even at 323%, it failed to produce a HL-HH sequence.

The most recent Low, however, is now supported by a Bullish Divergence in the momentum (MACD) chart. I'm till waiting for the HL-HH sequence that would confirm a turn of trend' I will not be buying before I see that.

[kennowaylass]

In Reply To: kennowaylass's post @ Feb 4 2015, 02:49 PM

Directors bought in November at nearly double current prices. Just saying like..................................Any techi views???

[kennowaylass]

Looking like time to load up more on MRM. Think it's been very oversold and taking a position today. Some green candles would be nice.

[hungry]

In Reply To: razer's post @ Apr 5 2014, 08:00 AM

There's certainly some good vol down here at these lows for the last month while building a small base.

In my watchlist now for scalping trades. If it can break 2.40 resis it could go to the next lev at 2.60 quickly.

[razer]

In Reply To: arty's post @ Feb 11 2014, 10:28 AM

Tony Howarth payed almost $400,000 for mostly REO [retail entitlement offer] and some DRP [divvy reinvest'] shares.

Now that is placing faith in Mermaid to produce IMO.