Ann: Pareto Conference Presentation, page-10

Sad, I worked in the Industry, still do but no longer close enough to Mermaid for any great insight.. But blind freddy could see they were getting too excited about the oil and gas boom. There was definitely 'industry experienced' guys in the company that knew the boom and busts and were well aware that debt was not a great idea... Some where along the line the company went from being a well run little 'shipping ' company to sole focus on profits and dividends in short term..
But what would i know, i made a tidy sum but called the top of share price way way too soon, around $2 + i think i sold out..
Would i buy back in? Nope, not with that debt hanging over there heads. And not too sure that oil and gas has an awesome long term future either. Would rather invest in Lithium or similiar, or RCR for that renewables infrastructure exposure.