Mermaid Maritime    Last:0.105    -0.004

Mermaid

Mermaid Maritime is proposing to place out up to 58.1m shares, being the remaining unsubscribed Excess Rights Shares, to institutional and other investors at S$0.280 each to raise gross proceeds of up to S$16.3m. The proceeds will be mainly used for investment in drilling rigs and/or subsea vessels and acquisitions of additional machineries.

Share price is now up 1.5 cents to $0.30 on higher volume. It looks good on the chart. Rebound may be on the way.

 

Guess the rights sure under subscribe...

 

Last day for rights subscription. Mermaid's tail hardly flopping. With the looming Syrian strike and oil hikes, really unfathomable why the price still lags behind other loss making coys  like REX.  Mermaid captain needs to start reeling back the price or  catch no bites from retailers. 

 

You may have make a wise choice.

luketoh      ( Date: 30-Aug-2013 22:59) Posted: Dont feel like subscribe it...not attractive at all.

 

looks like they are pushing for pple to pay for rights --cosmetic only

luketoh      ( Date: 30-Aug-2013 22:59) Posted: Dont feel like subscribe it...not attractive at all.

 

Dont feel like subscribe it...not attractive at all.

 

YES. This is a possibility.

Cheers.

 

Ahling      ( Date: 20-Aug-2013 16:15) Posted: Will there be cases whereby the management suddenly lower the subscription price?? As given that the market is now trading below the rights subscription price?

 

Will there be cases whereby the management suddenly lower the subscription price?? As given that the market is now trading below the rights subscription price?

 

Mermaid is now 0.265.
Wouldnt it be cheaper to buy them now instead of subscribing to the rights?
Can sell the entitled rights, correct?

 

Don't worry Mermaid will definite bounce back.

it is very common that price will drop after issuing right issue. 

Gd luck vesting. 

 

Is the plunge in price due to mkt correction [funds pulling out] or something else. Strange since Mermaid has been reporting  profitable results  throughout the year. It doesn't issue rights frequently [like yoma] and this one had been approved some months back. Mermaid towkays, hope it won't be Oceanus 2.

 

Many companies are trading below NAV.
My opinion is don't get excited over them. A company keep issuing rights may not be a good sign. If the management is enhancing the wealth of shareholders, then it's still alright to invest in it.
Mermaid, I don't see the worth to take the risk.

Drstock      ( Date: 19-Aug-2013 20:19) Posted: Est. intrinsic value of Mermaid is 0.43

 

Est. intrinsic value of Mermaid is 0.43

 

This rights issue is a farce, the price oredy drop to 28.5cents before ex-date. Hope the towkays will do something abt it.

 

Yes you are right. Mermaid is going up

 

high vol today

 

ASIA OFFSHORE DRILLING LIMITED

TAKES DELIVERY OF JACK-UP RIG ‘AOD II’

Rig will now mobilize to the Middle East to commence contract with Saudi Aramco

Mermaid Maritime Public Company Limited (“Mermaid”) is pleased to announce that the

second rig ordered by its associate Asia Offshore Drilling Limited (“AOD”) from Keppel

FELS Limited (“Keppel”) in Singapore, ‘AOD II’, has been successfully delivered to AOD’s

wholly owned subsidiary, Asia Offshore Rig 2 Limited.

‘AOD II’ will now be mobilised to the Middle East to commence its drilling contract with

Saudi Aramco. This contract, previously announced on 13 March 2013, has a minimum

duration of three years plus a one-year option. The potential revenues for the initial threeyear

period are approximately USD 197 million plus a mobilisation fee of USD 34 million

covering certain upgrades, mobilisation costs, and day rates during the mobilisation period.

The said drilling contract is scheduled to commence by end of June 2013.

Please be informed accordingly.

Vincent Siaw

Company Secretary

17 April 2013

For more information on Mermaid, please visit www.mermaid-maritime.com

 

When is the closing date of the rights issues anyone???

 

Yes Raymond.

raymondlimtt      ( Date: 20-Mar-2013 23:25) Posted: Thank you senior akchua... I bought mermaid 3 years ago at $0.88... If I don't take up the rights and buy some more shares at discounted price, my share price will be diluted and go lower am I right ?

 

This may   be useful ... [Link]...