Is it a possible takeover play so he can gain control of the...

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Brumbypat

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03/08/16

09:06

Post #: 18431305
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Originally posted by Austinhealeysprite ↑

Singapore substantial shareholder increasing holdings in MMA offshore. Looks like taking very substantial position.

My thoughts are that the industry is in major stress and MRM might do well by a cash backed investor with a long term view taking a position that is prepared to back it. In my opinion the next 2 or 3 years in the offshore industry will be horrible. The offshore industry is simply now about running the remaining boats into the ground, for what ever cash contract you can get. Better running a boat into the ground than paying to stack it now and wreck it later.

But long term, if you have the cash to back it, the industry will return, once the excess of boats are literally rusted out of the system. All IMO.

I'd be very interested to hear everyone's thoughts on this major investors next steps. I know Croasian has been close to CDD where we saw a major investor buy at over $3 a stake and then floor the price to an eventual CR 40 cents, reducing debt as priority.

Appreciate all thoughts on likely course.

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Is it a possible takeover play so he can gain control of the Singapore Jaya facility?

Sell off the other assets and hope to break even, then use Jaya for whatever else he might be involved in?

I'm only guessing, but he seems very keen to buy everything traded around the 30c mark.

MRM Price at posting: 32.5¢ Sentiment: Sell Disclosure: Not Held
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Is it a possible takeover play so he can gain control of the...

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