Gulf Marine Services (#GMS) – evacuates personnel from four vessels “as a precautionary safety measure”, working to quantify the potential impact of ‘recent regional developments’

Gulf Marine Services (#GMS) – 2024 net profit down to $38.3m, net bank debt reduced but was still $201.2m

Gulf Marine Services (#GMS) – completes debt refinancing as per August announcement

Gulf Marine Services (#GMS) – now anticipates FY adj. EBITDA “at the upper end of previous guidance” and 2025 increased guidance range

Gulf Marine Services (#GMS) – issued warrants over 137,075,773 shares at 5.75p each to lenders

Gulf Marine Services (#GMS) – FY EBITDA expected to be within guidance range, “markets continue to improve”

Gulf Marine Services (#GMS) – H1 EBITDA up to $26.5m, but net debt $376m

Gulf Marine Services – open offer result sees shares further lower...

Previously writing on support vessels provider Gulf Marine Services (GMS), earlier this month with the shares at 3.25p I concluded hopefully my prior caution was heeded. As the attempted refinancing plays out, I currently continue to avoid. Today a “Result of Open Offer” announcement... and the shares currently further lower below 3p...

Gulf Marine Services (#GMS) – 58.4% open offer take-up, rest with conditional placees

Gulf Marine Services – as warned here, there’s a massively discounted equity raise...

Previously writing on support vessels provider Gulf Marine Services (GMS), with the shares above 7p in March I questioned it stating “as the numbers demonstrate… in a strong position”. Today a “pleased to announce… proposed capital raising” – and the shares currently at 3.25p...

Gulf Marine Services (#GMS) – bailout £20m open offer at 3p per share, with a subject-to-recall underwritten £11.1m placing

Gulf Marine Services – “as the numbers demonstrate… in a strong position”. Hmmm...

Previously writing on Gulf Marine Services (GMS), in November with the shares at 7.9p I concluded negatively with its debt mountain and uncertainty. The shares last closed at 5.85p but are currently above 7p on the back of news that the company emphasises represents “A New Dawn”...

Gulf Marine Services – CEO suspended, boardroom change all positive?...

Following further news today, Gulf Marine Services (GMS) has now both appointed a new director to the board and suspended the CEO this week...

Gulf Marine Services – shares soar on update from new board, But...

An “Update from the board of directors” announcement from Gulf Marine Services (GMS) today… and the shares currently the largest riser of the day, at above 8.5p...

Gulf Marine Services – requisitioned General Meeting vote intentions & banks warning...

Previously writing on Gulf Marine Services (GMS) I concluded including I’ve previously noted “the banks confirm that they are not willing to renegotiate any of the terms” – with the shares towards 7p hopefully my prior caution was heeded and it’s now just a watching brief to see how this now plays out. Today further news...

Gulf Marine Services – following one set of General Meeting resolutions failing, another requisitioned...

Yesterday on Gulf Marine Services (GMS), I noted shares further slump as General Meeting resolutions fail – including noting there is another General Meeting requisitioned by Seafox for boardroom change. Today a further “Shareholder Circular and Notice of General Meeting”...

Gulf Marine Services – shares further slump as General Meeting resolutions fail...

Gulf Marine Services (GMS) has updated that “at its general meeting held today, the resolutions put to shareholders both failed to pass… Of the 176,388,633 votes cast against the resolutions, 96.7 per cent. (170,575,984 votes) were voted in respect of shares beneficially owned by Seafox, Mazrui Investments LLC or Horizon Energy LLC”. The shares have currently responded further lower towards 7p...

Gulf Marine Services – hits out in requisitioned General Meeting circular...

Dispute with Seafox International has seen a General Meeting requisitioned for boardroom change at Gulf Marine Services (GMS) and now the publication of circular & notice of the General Meeting...

Gulf Marine Services – Seafox International responds, bank crunch still looms?

Yesterday I wrote on Gulf Marine Services (GMS) hits back at Seafox International, but bank crunch looms. Seafox has since responded...

Gulf Marine Services – hits back at Seafox International, but bank crunch looms...

Yesterday I cautioned on the Seafox International dispute and financial situation at Gulf Marine Services (GMS) with the shares at 9.6p. Today an update from the company – and the shares currently at 8.3p...