Thanks for the info. What about the other major shareholders...

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ckchristian

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10/08/16

07:41

Post #: 18482103
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Originally posted by WaitandC ↑

I agree with AustinHealy - MMA is headed for delisting imho.

Otto as he points out;
Pacific Richfield; rumoured to have had their fleet of 15 offshore vessels handed to Seacor with soft debt terms to alleviate lenders pressures
Swiber; filed for liquidiation just over a week ago and then changed their mind for court protection
Solstad and Rem; consolidating to form a JV
Banks generally trying to get out of a lot of shipping portfolios where possible. Lack of liquidity for sales.
Michael Kum was in with MMA in the founding days and got out i think around the time when MMA decided to buy the supply base. He did not agree, the debt from that supply base and others now come home to roost and Mr Kum no doubt thinking about " i told you so".
I think he will accumulate voting rights and change the board and CEO.
MMA started out with small boats and has grown rapidly into the high end business they are not familiar with.

This is about fundamentals, not oil price or fancy balance sheet ratios.
I think the last time i posted SP was around $1,20 - i have some loose interest hoping for an upswing, however i am now convinced that this stock is not worth betting on the upside for a recovery.
I dont feel like trying to figure out how much to make just before it goes private.

I will reconsider buying with Mr Kum at the helm.

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Thanks for the info. What about the other major shareholders like BlackCrane? What happens to the short positions? IMO it sounds plausible but I also believe Mr Kum may underwrite a CR and takeover that way... Cheers!

MRM Price at posting: 33.0¢ Sentiment: Buy Disclosure: Held
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Thanks for the info. What about the other major shareholders...

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