The one stop source for breaking news, expert analysis, and podcasts on fast-moving AIM and LSE listed shares

Gulf Marine Services – as warned here, there’s a massively discounted equity raise...

2021-06-09 15:17:00

Previously writing on support vessels provider Gulf Marine Services (GMS), with the shares above 7p in March I questioned it stating “as the numbers demonstrate… in a strong position”. Today a “pleased to announce… proposed capital raising” – and the shares currently at 3.25p...

Gulf Marine Services (#GMS) – bailout £20m open offer at 3p per share, with a subject-to-recall underwritten £11.1m placing

2021-06-09 07:53:21

Gulf Marine Services – “as the numbers demonstrate… in a strong position”. Hmmm...

2021-03-16 14:28:29

Previously writing on Gulf Marine Services (GMS), in November with the shares at 7.9p I concluded negatively with its debt mountain and uncertainty. The shares last closed at 5.85p but are currently above 7p on the back of news that the company emphasises represents “A New Dawn”...

Gulf Marine Services – CEO suspended, boardroom change all positive?...

2020-11-25 16:43:30

Following further news today, Gulf Marine Services (GMS) has now both appointed a new director to the board and suspended the CEO this week...

Gulf Marine Services – shares soar on update from new board, But...

2020-11-11 11:58:49

An “Update from the board of directors” announcement from Gulf Marine Services (GMS) today… and the shares currently the largest riser of the day, at above 8.5p...

Gulf Marine Services – requisitioned General Meeting vote intentions & banks warning...

2020-11-09 16:39:58

Previously writing on Gulf Marine Services (GMS) I concluded including I’ve previously noted “the banks confirm that they are not willing to renegotiate any of the terms” – with the shares towards 7p hopefully my prior caution was heeded and it’s now just a watching brief to see how this now plays out. Today further news...

Gulf Marine Services – following one set of General Meeting resolutions failing, another requisitioned...

2020-10-28 16:12:50

Yesterday on Gulf Marine Services (GMS), I noted shares further slump as General Meeting resolutions fail – including noting there is another General Meeting requisitioned by Seafox for boardroom change. Today a further “Shareholder Circular and Notice of General Meeting”...

Gulf Marine Services – shares further slump as General Meeting resolutions fail...

2020-10-27 16:15:56

Gulf Marine Services (GMS) has updated that “at its general meeting held today, the resolutions put to shareholders both failed to pass… Of the 176,388,633 votes cast against the resolutions, 96.7 per cent. (170,575,984 votes) were voted in respect of shares beneficially owned by Seafox, Mazrui Investments LLC or Horizon Energy LLC”. The shares have currently responded further lower towards 7p...

Gulf Marine Services – hits out in requisitioned General Meeting circular...

2020-10-13 17:26:00

Dispute with Seafox International has seen a General Meeting requisitioned for boardroom change at Gulf Marine Services (GMS) and now the publication of circular & notice of the General Meeting...

Gulf Marine Services – Seafox International responds, bank crunch still looms?

2020-10-09 15:45:25

Yesterday I wrote on Gulf Marine Services (GMS) hits back at Seafox International, but bank crunch looms. Seafox has since responded...

Gulf Marine Services – hits back at Seafox International, but bank crunch looms...

2020-10-08 13:54:15

Yesterday I cautioned on the Seafox International dispute and financial situation at Gulf Marine Services (GMS) with the shares at 9.6p. Today an update from the company – and the shares currently at 8.3p...

Gulf Marine Services – dispute with Seafox International takes another turn... and another...

2020-10-07 17:01:59

At 10:04am Gulf Marine Services (GMS) announced it “has today been notified that Hesham Halbouny and Hassan Heikal have resigned as Directors of the Company with immediate effect. Mr Habouny and Mr Heikal were previously appointed to the Board on 4 August 2020 at a General Meeting requisitioned by Seafox International Limited”. At 11:27am Seafox responded...

Gulf Marine Services – after previously 'announcements escalate dispute with Seafox International'...

2020-09-21 16:22:29

Previously writing on Gulf Marine Services (GMS), in July it was announcements escalate dispute with Seafox International, now “Letter from Seafox re Board Composition”...

Gulf Marine Services – announcements escalate dispute with Seafox International...

2020-07-30 15:09:58

In advance of a requisitioned general meeting scheduled for 4th August, dispute between Gulf Marine Services (GMS) and Seafox International Limited has further escalated with announcements today...

Gulf Marine Services – “successful first deployment of cantilever technology”… so why further share price decline?

2020-07-28 11:49:17

Previously writing on Gulf Marine Services (GMS) last month, the shares were 14.2p as I noted following “New debt structure”… a General Meeting requisition demand. Today a “First deployment of Cantilever Technology” announcement – and the shares currently further lower at 10.5p...

Gulf Marine Services (#GMS) – reconfirms 2020 EBITDA guidance, equity capital raise “preparatory work has commenced with the intention of approaching the market later in the year”

2020-06-29 07:49:51

Gulf Marine Services – following “New debt structure”… a General Meeting requisition demand...

2020-06-11 14:10:58

Oil, gas and renewable energy industries support vessels provider Gulf Marine Services (GMS) yesterday announced a new debt structure which it argued provides it with a “secure platform to sustain recovery”. Now a requisition of a General Meeting from Seafox International!...

Gulf Marine Services (#GMS) – notes Seafox International announcement of purchase of shares & ‘no increase’ statement

2020-05-06 07:49:02

Gulf Marine Services (#GMS) – Seafox responds to rejection of its possible offer, requests shareholders support

2020-05-04 07:56:49

Gulf Marine Services (#GMS) – rejects Seafox possible offer proposal as “wholly opportunistic” & “fundamentally undervalues GMS”

2020-05-04 07:20:23

Gulf Marine Services (#GMS) – non-binding possible offer proposal of $0.09 per share

2020-04-30 07:51:50

Gulf Marine Services (#GMS) – further financing facilities extension to end February, continues in dialogue with lenders

2020-01-31 07:44:23

Gulf Marine Services – argues “important contract awards”; why do the shares remain subdued?

2020-01-04 10:00:35

Gulf Marine Services (GMS) has announced “important contract awards… secured day-rates for these contracts are firm and are consistent with existing contracts in the region” (Middle East). The shares have nudged higher towards 7.5p, but are down from more than 9p as recently as November and more than 20p early last year…

Gulf Marine Services (#GMS) – two contract awards in Middle East, “firm… secured day-rates… consistent with existing contracts in the region”

2020-01-03 07:52:29

Gulf Marine Services (#GMS) – banking facility extension to end of Jan, “continues in constructive dialogue with its lenders on a long-term solution”

2019-12-31 07:23:18

Gulf Marine Services (#GMS) – slightly increases 2019 EBITDA guidance, though “discussions with lenders continue”

2019-11-14 07:32:52

Gulf Marine Services – “Contract Award”… so why a share price decline?

2019-10-23 15:50:39

A “Contract Award” announcement from Gulf Marine Services (GMS) including Executive Chairman Tim Summers commenting “we are encouraged by the steady emergence of new tenders in our core Gulf market, which will allow GMS to focus on building towards full utilisation of all classes of vessel in our fleet”. The shares are however slightly lower to 8.85p…

Gulf Marine Services (#GMS) – current waiver agreement with banks, “continuing its dialogue… on a long-term solution”

2019-09-27 07:42:44

Gulf Marine Services – interims “will be delayed”. Uh oh…

2019-09-11 11:21:44

Previously writing on Gulf Marine Services (GMS), last month I concluded including I wish that candidate luck! There should be more detail on what they face here with 11th September-scheduled half-year results. And now… “Re-scheduling Interim Results Release Date”. Uh oh – and re-scheduled to when?...

Gulf Marine Services – from late May “improving pipeline of opportunities” to now “disappointed to reset guidance for 2019”!

2019-08-21 14:29:35

Previously writing on Gulf Marine Services (GMS), in December I noted warns but argues there will be longer-term improvement; It’s got to be around for that first though! – concluding still bargepole / sell as the shares slumped below 10p. Today a “Corporate & Board Update”…

Gulf Marine Services (#GMS) – profit warning, bank discussions as will breach covenant, CEO resigned

2019-08-21 07:56:45

Gulf Marine Services (#GMS) – independent non-exec Richard Anderson “has resigned from the board with immediate effect”. Hmmm.

2019-04-30 06:50:23

Gulf Marine Services (#GMS) – boardroom change General Meeting requisition from Seafox International

2019-01-31 00:45:25

Gulf Marine Services – warns but argues there will be longer-term improvement; It’s got to be around for that first though!

2018-12-19 07:10:48

“Gulf Marine Services (LSE: GMS), the leading provider of advanced self-propelled self-elevating support vessels serving the offshore oil, gas and renewable energy sectors, provides the following trading update”. Not ‘is pleased to provide’ then. Let’s see why…

Gulf Marine Services (#GMS) – “delay in signing recently awarded contracts”, expects banking covenants breach

2018-12-19 00:41:54

Gulf Marine Services (#GMS) – banking covenant amendments to “provide… operational and financial flexibility”. Hmmm.

2017-08-08 23:36:02

Gulf Marine Services – 3:21pm “Trading Update” announcement. Uh oh…

2017-08-03 04:09:17

A 3:21pm (and thus clearly unscheduled) “Trading Update” announcement from Gulf Marine Services (GMS). However, it starts “overall the group is continuing to see good levels of tender activity and is progressing a number of opportunities”. Not as bad as feared then? Er…

Gulf Marine Services (#GMS) – trading & deleveraging “in line”, encouraged by recent contract awards

2017-05-15 23:53:18

Gulf Marine Services – do contract win & contract extension signal turnaround?

2016-08-09 00:16:33

Shares in Gulf Marine Services (GMS) have initially reacted modestly positively to an announcement of a contract win and contract extension – with CEO Duncan Anderson emphasising the developments reflect “our strong client relationships, leading operational expertise and flexibility”. The following reviews – with I having previously concluded sceptically here...

Gulf Marine Services – clients are “seeking cost efficiencies”, Uh oh…

2016-07-05 06:30:00

Provider of support vessels to the offshore oil, gas and renewable energy sectors, Gulf Marine Services (GMS) has released an “Operational and Trading Update” commencing that clients in the Middle East are “seeking cost efficiencies as a result of the challenging low oil price environment”. Uh oh…

Zak Mir's Bear Call Of The Day: Gulf Marine Services: Price Channel Failure Targets As Low As 80p

2015-05-27 23:40:02

With the FTSE 100 holding towards its best levels ever, it does appear to be relatively difficult for would-be bears to gain traction on all but the most obvious of negative setups, Plus500 notwithstanding, of course,.