Have been a shareholder for long time, wish it was a good time but no, more hard time and lost capital.
The offer price @20c is high considering the low was 15c in recent past.
Glory days were in construction boom. Revenue 2015 June $796.666m EBIT $222.277m
Now 2017 June Revenue $221.766m EBIT $3.334m.
Latest result Vessel EBITDA 2H 2017 $17.3m 53% utilisation Is a vast improvement from PCP.
Prelude has arrived on NW Shelf and was attached / Anchored by MMA Offshore. I think they also have Contract for Accommodation ship for Prelude.
Shell will create more work for future.
I'm taking part in offer there will be no surplus shares as Offer is full underwritten.
MRM Price at posting:
24.5¢ Sentiment: Hold Disclosure: Held
