Time to off-load this Mermaid, page-25

plse chk the accounts, and preso's .....

1. inc in interest costs (50 bps)
2. repayment scheduale accelerated
3. at present - ebitda wont cover int payments and head office costs

the company has stated "slow recovery into fy18" .......(ie lag in oil price to rebound in work available, as Austinhealy has stated a few times).....

I understand the operational leverage, and the asset base coverage ........but banks are not always "nice" .......

if they play hardball, life for MRM will get waaay more complicated.

as ive said a few times - it is "often" safer, to wait for a recap.....

I understand what you are saying, but I cant "justify" an investment, given the level of risk.........some will be happy to take the opportunity.......I guess that is what makes a market

rgds
V_H