Vard   

STXOSV

@sifu SJ-Stomper*  Thank you for your understanding and correct perception.

It reminds me of a HK movie in which a good-hearted trainer looked after a group of young recruits. Because of his harsh and sometimes mocking approach, the recruits hated him in the beginning buit ended up to be thankful to him in the end, but not before.

Stocks is a somewhat similar situation. It is a truly a battlefield.

I will not post more, but for newbies' greater insight, please get hold of Jesse Livermore's books and digest them, and also some stock market " battle" books.



*PS. It's really heartening to see at least one who is appreciative.

SJ-Stomp      ( Date: 24-Apr-2013 09:06) Posted: Dear friends, Those who are in this forum long enough, know who is "student". Pls dont "chase" him away. It is good for him to inject some negetive posts as people might get too bulish about the market. At contel thread had one newbie just listen to the buy call, now he has lost a lot of money. I hope his wife has forgiven him. @student, continue to post what you think will be benefited to the forumers. Just do as a human duty not "hai lang" your kuan ing mah will know. I wish everyone has a happy trading day! Happy happy go lucky!

 

 

Dear friends, Those who are in this forum long enough, know who is "student". Pls dont "chase" him away. It is good for him to inject some negetive posts as people might get too bulish about the market. At contel thread had one newbie just listen to the buy call, now he has lost a lot of money. I hope his wife has forgiven him.

@student, continue to post what you think will be benefited to the forumers. Just do as a human duty not "hai lang" your kuan ing mah will know.

I wish everyone has a happy trading day! Happy happy go lucky!

 

Guess u never learn.haha.

student      ( Date: 24-Apr-2013 06:51) Posted: In playing stocks, it is bad to be 'positive' or 'negative'. It is absolutely important to be neutral and zombie-like. Anyway, erring on the negative (defensive) is much safer. Nuff said. Hope newbies benefitted. I will not post.

 

Jesus!...broken recorder still singing for the last time.....lol

Thank you student.I think it is still best to be simple than psychological.

student      ( Date: 24-Apr-2013 06:51) Posted: In playing stocks, it is bad to be 'positive' or 'negative'. It is absolutely important to be neutral and zombie-like. Anyway, erring on the negative (defensive) is much safer. Nuff said. Hope newbies benefitted. I will not post.

 

In playing stocks, it is bad to be 'positive' or 'negative'.

It is absolutely important to be neutral and zombie-like.

Anyway, erring on the negative (defensive) is much safer.

Nuff said. Hope newbies benefitted. I will not post.

 

Finally another bro who think alike. 

I stop posting coz Student  couldn't  stop being negative  without  reasons and yet give tons of  nonsensical  reason for other people point of view. 

SFGuyRuleZ      ( Date: 22-Apr-2013 21:04) Posted: I am not here to debate with you nor discuss with you forum etiquette as I do not have the time also. If you think about many of the comments you posted, not just in this STX OSV forum but others as well, how many of your posts are really beneficial to investors? All I read were about feelings of yours to particular stocks and how they will sink,etc... I do like some posts commented by you which states that investor emotions determine market movement alot, which I agree to a very large extent also. Other than this, most of your posts contain negative attacks about how bad a stock fares, how low it will sink, etc... without even stating your explanation but merely just say what you wanted to say. And in any case, my intention is not to " flame" you or to argue with you, but merely out of goodwill that you should not say certain things. Once in a while I know we can be emotional in our postings about the movement of certain stocks, but definitely is not alright to do it all the time, worse when not substantiated with explanation or facts. student      ( Date: 22-Apr-2013 20:46) Posted: Can you name one biased post

 

 

From AGM, VARD sounds very promising ....  and it aim to be market leader ...

Let's all hope that it will chiong again like last year ...

 

All the best to those vested and holding since Dec 2012 ...


 




 

 

Announcments out in SGX. Go check it out. 

laopokca      ( Date: 23-Apr-2013 18:01) Posted: Anybody care to give an overall summary of today AGM?

 

Anybody care to give an overall summary of today AGM?

 

Thanks for the correction, BummerHuat. My apologies, Starlene.

BummerHuat      ( Date: 23-Apr-2013 15:57) Posted: 1.20 is the initial exercise price, but as there have been dividends issued since the grant of the share options, the dividends will be netted against the exercise price for a lower exercise price range of 0.89 - 1.29. That said, the share options are not expiring. It expires on 9 May 2016 and the earliest that they can exercise the option is 9 May 2013, 2 years after grant of the share option. Actually whether management exercises its option doesn't really send signal on its view of the company. If price is 1.10 and exercise price is 0.89, regardless of whether I believe in the company, I will just exercise the option and sell the shares the same day to arbitrage. Share option scheme does however provide incentive for management to boost the company share price from the date its granted till the date it exercise the option. prolix      ( Date: 23-Apr-2013 15:30) Posted: And likewise starlene I think you might be mistaken as to the exercise price of the share options. I think the lowest exercise price is $1.20 (see pg 105 of 2011 Annual Report)

 

1.20 is the initial exercise price, but as there have been dividends issued since the grant of the share options, the dividends will be netted against the exercise price for a lower exercise price range of 0.89 - 1.29. That said, the share options are not expiring. It expires on 9 May 2016 and the earliest that they can exercise the option is 9 May 2013, 2 years after grant of the share option.

Actually whether management exercises its option doesn't really send signal on its view of the company. If price is 1.10 and exercise price is 0.89, regardless of whether I believe in the company, I will just exercise the option and sell the shares the same day to arbitrage. Share option scheme does however provide incentive for management to boost the company share price from the date its granted till the date it exercise the option.

prolix      ( Date: 23-Apr-2013 15:30) Posted: And likewise starlene I think you might be mistaken as to the exercise price of the share options. I think the lowest exercise price is $1.20 (see pg 105 of 2011 Annual Report). waitlonglong      ( Date: 23-Apr-2013 15:24) Posted: Should be 30%. Please check page 59 from this link. :)

 

And likewise starlene I think you might be mistaken as to the exercise price of the share options. I think the lowest exercise price is $1.20 (see pg 105 of 2011 Annual Report).

waitlonglong      ( Date: 23-Apr-2013 15:24) Posted: Should be 30%. Please check page 59 from this link. :) starlene      ( Date: 23-Apr-2013 15:01) Posted: Shd be 70% of profit to be distributed as dividend same as when specified in ipo prospectus..U notic there is 17mil share option granted to directors expired in April 27 2013 2 years from approved date April 27 2011  not exercised though the exercise priceis   from 0.89-1.29

 

Should be 30%. Please check page 59 from this link. :)

starlene      ( Date: 23-Apr-2013 15:01) Posted: Shd be 70% of profit to be distributed as dividend same as when specified in ipo prospectus..U notic there is 17mil share option granted to directors expired in April 27 2013 2 years from approved date April 27 2011  not exercised though the exercise priceis   from 0.89-1.29  . waitlonglong      ( Date: 23-Apr-2013 13:36) Posted: Dividends (30% of profit) policy no change. No 'special' announcements made.

 

Shd be 70% of profit to be distributed as dividend same as when specified in ipo prospectus..U notic there is 17mil share option granted to directors expired in April 27 2013 2 years from approved date April 27 2011  not exercised though the exercise priceis   from 0.89-1.29  .

waitlonglong      ( Date: 23-Apr-2013 13:36) Posted: Dividends (30% of profit) policy no change. No 'special' announcements made.

 

Dividends (30% of profit) policy no change.

No 'special' announcements made.

 

So any impt update from the agm?

 

VARD eyes US$530m Brazilian orders

Target wins to ignite an uptick in its share price.

According to CIMB, it believes that the lacklustre share price of STX OSV, which has  adopted a new brand name, VARD, could be catalysed by sizeable  Brazilian orders worth up to US$530m or NOK3bn (translating to 27% of our FY13 order target) in the next couple of weeks.  

Here's more

Given its recent underperformance  and sentiment uplift from this  headline-win, we upgrade VARD to  Trading Buy from Neutral. The stock is not an Outperform as there could be downside risks to the company’slonger-term margins profile. Further, the absence of communications fromthe new majority owner, Fincantieri, could put off longer-term investors. 

No change to our EPS or target price, still at 8x CY14 P/E, one s.d. above its trading mean.

Industry publications report that Petrobras could award contracts for seven newbuild pipe-laying support vessels (PLSVs) in the next few weeks. One source pinpointed 20 April as the cut-off date for announcement.

Accordingly, two 300-tonne PLSVs could be contracted to TechnipNorskan, with construction eyed at VARD’s new Brazilian yard, Promar.

Yard prices for the two units could total US$560m, or NOK3bn, translating to 27% of our FY13 order  target of NOK11bn. Deliveries are expected by late-2016.

We think that the looming-win could spark an uptick in share price. YTD,  VARD has secured orders of NOK2.4bn (all for subsea vessels). Beyond the headline-win, we highlight that while the Petrobras orders would replenish the order book, they would not contribute meaningfully to 2013’s revenue runrate due to its long delivery.

From a margins perspective, the yard pricesfor the Brazil units are expected to be higher than for international-built units with higher tonne tension capacities. This should buffer costs escalations and production bottlenecks in Brazil. 

With the stock a laggard, we recommend that shorter-term/riskon investors buy before the fact. Also, with the share price at S$1.22 (the offer price), near-term downside risk is limited.

It was only recently that the market unanimously decided that the offer price undervalued VARD.  Fincantieri only managed to
accumulate another 4.9% of  shareholdings from the open market. 

 

Mixed   feelings