Australian (ASX) Stock Market Forum

NMS - Neptune Marine Services

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maungatapu said:
Macquarie has decreased holding by 2673845 6.75%. Voting rights down from 13% to 12%. I think they were holding 18% at some time. This balancing act by Macquarie seems to defy logic. Why sell off stocks rising in price just to keep their portfolio balanced.
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Did Macquarie end up with their holding as a result of an underwriting commitment?
If so, it would be expected that they would sell down at an opportune time as is their usual practice. SBM was a similar situation in the recent past. ( As opposed to a holding taken as a result of an investment decision.)
 
macquarie were sub-underwriters to a 20c rights issue back in 2006 (from memory). of course the SP did hit $1.30+ in 2007, but mac didnt bother selling down at that stage.
 
The stock has now been suspended from trading. Is this just an extensioin of the trading halt or something more permanent?
 
markd9 said:
The stock has now been suspended from trading. Is this just an extensioin of the trading halt or something more permanent?
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In theory it is an extension to the trading halt, because they didnt get the info out by when they said they would. But a suspension has no timeframe to it and means the orders will be purged when the stock is re-quoted.

Stocks can remain suspended for months, although i doubt this would be the case with NMS.
 
markd9 said:
The stock has now been suspended from trading. Is this just an extensioin of the trading halt or something more permanent?
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while still only a rumour (although apparently the 'west australian' has an item) it is 'believed' a $40m raising is occurring thru Euroz, but the reasons for this are still unknown. the suspension would be to allow the final details of the raising or the possible contract linked to the raising to be completed.

holders sit back twiddling thumbs, waiting to see what the great one has delivered.
 
Some how 40m does not sound right, when the company is exceeding forecasts, 100m ok but 40m, gee that is retained profit for 2008/2009 .
there has to be more to the story, as they have the ability to repay smallish loans without another share issue. would a new vessel get the 30% tax benefit?
One of the problems you have with a successful young company is funding it's growth, you never seem to have enough cash.
 
Well SOB you were spot on, having just read the announcement I think it"s a good idea and result. I like that they considered existing shareholders, keeps the faith.
 
The millionaires factory must be doing things tough.
They dumped 25 million shares on June 5th and, ceased being a substantial shareholder in NMS. :eek:
 
Could someone please explain to me- im a holder & entitled to buy shares under the new entitlement. In theory if the price is currently 60c and the issue price is 50c, i could then buy my full entitlement and sell them as soon as they are issued, and make 10c on each one?? Has the price fall been factored in already at the announcement date?

thanks
 
Yes you could do this dan-o, however if everyone thinks like you are, there will be a lot of stock on the market, which in turn will push the price down. Usually the issue price of the SPP will create a floor price, however recently we have seen a lot of cap raisings where the stock just kept going up, so its a bit of a raffle really.
 
Plasmapark said:
The millionaires factory must be doing things tough.
They dumped 25 million shares on June 5th and, ceased being a substantial shareholder in NMS. :eek:
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Whats the bet that they are selling down now then taking part in this capital raising. they stand to make $$$$$ if this is what they are doing.
 
Help me out here. Approval of share issues for the purpose of ASX listing 7.4 to Linkweld, Territory, Subsea, Tri- Surv and SES for part payment of deferred consideration. Are these share issues related to the earn-out agreements?

I'm hoping that there is no scaling back of the SPP. as 2 directors are guaranteed 130,000 shares between them
 
maungatapu said:
Help me out here. Approval of share issues for the purpose of ASX listing 7.4 to Linkweld, Territory, Subsea, Tri- Surv and SES for part payment of deferred consideration. Are these share issues related to the earn-out agreements?

I'm hoping that there is no scaling back of the SPP. as 2 directors are guaranteed 130,000 shares between them
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without looking at the specific details, the share issues are earn out payments. tri survs earn out is substantial in comparison, all due to that large contract done for inpex.
 
Thanks for the previous reply prawn. Further to that, so i could sell my current holding at 59c and then re-buy it back in the share issue at 50c, pocketing the difference? ie, i qualified to buy new shares by being a holder at announcement date and now have the right to buy more even if i am no longer a holder??
 
dan-o said:
Thanks for the previous reply prawn. Further to that, so i could sell my current holding at 59c and then re-buy it back in the share issue at 50c, pocketing the difference? ie, i qualified to buy new shares by being a holder at announcement date and now have the right to buy more even if i am no longer a holder??
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You would need to check the announcements. Normally there is an 'entitlement date' or something along those lines, meaning you have to hold on that date to be eligible to take part.

Also remember that if it is over-subscribed, you may not get the full amount that you apply for, so there is a risk there also
 
I tend to look at the issue differently, one great value @ 50 cents.
The other is the announcements that are stocking up behind the issue.
NMS must have work for the proposed new vessels and must have their eyes on a USA purchase.
To support the issue, management will have to increase the EPS for 2010, my guess is the in will be near 10.5 cents ( with depreciation added back maybe be 11.8 cents ) without the need to retain profits due to the issue.
So the shareholders maybe in for a surprise.
To my knowledge the industry div rate is 3.5%. Looks good to me.
any thoughts.
 
dan-o said:
Thanks for the previous reply prawn. Further to that, so i could sell my current holding at 59c and then re-buy it back in the share issue at 50c, pocketing the difference? ie, i qualified to buy new shares by being a holder at announcement date and now have the right to buy more even if i am no longer a holder??
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as i hope you are aware, there was a change to the record date for participation in the SPP - it was 18/6, then moved to 22/6. in summary, due to T+3, you had to be a holder at close of trade wed 17/6. many werent, as they had sold out following the original record date, and are now NOT HAPPY.

prawn_86 said:
You would need to check the announcements. Normally there is an 'entitlement date' or something along those lines, meaning you have to hold on that date to be eligible to take part.

Also remember that if it is over-subscribed, you may not get the full amount that you apply for, so there is a risk there also
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its becoming consensus that the SPP will be scaled back, unless NMS can release news which promotes the fact they want as much cash as they can find for cheap or urgently needed acquisitions.

bluekat said:
I tend to look at the issue differently, one great value @ 50 cents.
The other is the announcements that are stocking up behind the issue.
NMS must have work for the proposed new vessels and must have their eyes on a USA purchase.
To support the issue, management will have to increase the EPS for 2010, my guess is the in will be near 10.5 cents ( with depreciation added back maybe be 11.8 cents ) without the need to retain profits due to the issue.
So the shareholders maybe in for a surprise.
To my knowledge the industry div rate is 3.5%. Looks good to me.
any thoughts.
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the ann stated there was a $5m US acq, with the remainder going towards rov's & vessels - destined for an unknown market. the research i have done on rov's suggest some types make it a good purchase due to the depreciation.
 
The thing that sticks in my claw is, a company can come out with some great announcements, about how well the company is travelling, particularly under a severe global financial crisis and, how much money they're earning.
They pay no dividends yet, still come out cap in hand for more capital raising.
At the beginning of last year, we were all thinking what a great opportunity the last 95c raising was and, here we are again, saying what another great opportunity this one is.
What a croc of proverbial.....I'm glad I didn't partake on the last one and, seriously doubt I'd bother again.
I wish I could do the same with my own company.....what a great way to make cash. :banghead:
 
Hi Plasma,

Do you understand the Neptune strategy? If so, the no dividend part should be pretty obvious, being a growth company with limited spare funds. I certainly wouldn't like to see them take on more debt to fund a dividend.

As for putting the cap out, i wouldn't expect this to be the last cap raising at all but really what is wrong with that? If they keep the exact fleet of vessels and ROVs they have now, tell me where they'll be in 3 years time... at the bottom of the ocean would be my guess.

The whole idea is developing into a globally recognised company that can put forward tenders for large contracts and make a lot of money. Ultimately this is the only way ahead for Neptune unless their services change, which is highly unlikely at this stage.

Plasmapark said:
The thing that sticks in my claw is, a company can come out with some great announcements, about how well the company is travelling, particularly under a severe global financial crisis and, how much money they're earning.
They pay no dividends yet, still come out cap in hand for more capital raising.
At the beginning of last year, we were all thinking what a great opportunity the last 95c raising was and, here we are again, saying what another great opportunity this one is.
What a croc of proverbial.....I'm glad I didn't partake on the last one and, seriously doubt I'd bother again.
I wish I could do the same with my own company.....what a great way to make cash. :banghead:
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