MRM 0.00% 33.0¢ mma offshore limited

Potentially fantastic reward but then as I get myself overheated...

  1. 2,211 Posts.
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    Potentially fantastic reward but then as I get myself overheated thinking about it I read the annual report to cool myself down.
    The voice of prudence speaking to us from the past says wait and see.
    "In response to the difficult trading
    conditions experienced during the past
    year, in February 2016 the Company
    agreed a number of amendments to
    the terms and financial covenants of
    its Syndicated Loan Facility with the
    members of the Syndicate. On 24
    August 2016, the Company received
    approval of some further amendments
    to the terms and financial covenants
    of the Facility and committed to
    an increase in the annual principal
    repayments over the remaining term of
    the Facility to $75 million, payable in six
    month instalments of $37.5 million, with
    the first payment due on 31 December
    2016. The principal repayments will
    be funded from the proceeds of the
    Company’s ongoing vessel sales
    programme, operating earnings
    and any additional funding options
    available to the Company."
    What the "additional funding options" may be? Now's the time to be asking.
    Shareholders supporting this company are doing a fine thing; a 100m market cap is a travesty but also unfortunately something of a self-fulfilling prophecy.
 
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Currently unlisted public company.

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