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(02-05-2017, 09:49 PM)weijian Wrote: The end game is here.
Request for Suspension
http://infopub.sgx.com/FileOpen/MPML%20_...eID=451577
2 of the restructuring exercises have been completed - and it seems like the game continues for MPM and its Mgt (unless shareholders throw a spanner in the works in the upcoming EGM?). But for existing shareholders, the game also continues on paper, but it is practically the end (the massive amount of dilution and also the selling once the new warrants are exercised)
http://infopub.sgx.com/FileOpen/MPML_Res...eID=478679
http://infopub.sgx.com/FileOpen/MPML_Out...eID=478871
I am not a certified financial advisor and so nothing of what I say should be construed as financial advice. Please consult a certified financial advisor for advice instead.
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interesting to see out this will pan out in January 18!
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Who actually save the company ? The latest financial shown this comapny still in 150m negative equity .
“risk comes from not knowing what you’re doing.”
I don’t look to jump over 7-foot bars: I look around for 1-foot bars that I can step over.
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In the recent structuring, debt holders voted to convert their debts at $0.035 per shares, while new investors subscribed for new shares at $0.028 per share with a $60mil equity injection. All these turned Marco Polo marine into a company with positive equity.
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(26-01-2018, 04:07 PM)CY09 Wrote: In the recent structuring, debt holders voted to convert their debts at $0.035 per shares, while new investors subscribed for new shares at $0.028 per share with a $60mil equity injection. All these turned Marco Polo marine into a company with positive equity.
Many thanks for the update .
“risk comes from not knowing what you’re doing.”
I don’t look to jump over 7-foot bars: I look around for 1-foot bars that I can step over.
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Interesting piece of development.
As of now, MPM is trading at 6.4 cents, which means bondholders can get their full capital back and 65% returns.
Great time to offload stakes
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Hi CY09,
The rig that MPM had with SCM, is already sold to Borr Drilling. Isn't explicitly mentioned but the numbers add up.
https://www.valuebuddies.com/thread-1795...#pid143274
http://infopub.sgx.com/FileOpen/SCM%20Pr...eID=473339
hi holyimage,
Rather than "good connections", in some sense i think Temasek is doing national service by been a "capital provider of last resort". The local OnG industry is substantial and a critical mass needs to be sustained to maintain the ecosystem - from the upstream rig builders to the service providers (up/downstream). Previously, the Gov's help came in the form of (1) delayed implementation of foreign worker quota tightening and (2) nudge the banks to keep their credit lines open by offering co-sharing of risk.
The worst (in terms of oil price) is probably over but it is still long winter in the upstream markets. While both companies have been given a lifeline but it is not guaranteed they can survive. But it is always good to have Big Daddy behind.
I am not a certified financial advisor and so nothing of what I say should be construed as financial advice. Please consult a certified financial advisor for advice instead.