This company certainly has its ups and downs, but I have huge respect for the directors who have put their hands in their pockets and bought shares consistently over the last few years. I wish all company directors would show such willingness to put their own money on the line alongside investors. That's what I call aligning the interests of directors and shareholders.
Do you think there is any chance there may be a placing in the next year or so? The cash in the bank has dwindled to about £1m, and includes the proceeds of selling the vessel and the income from the Gib insurance claim. Rebuilding costs in Gib have to be met from somewhere.
not very impressed at all.
The Ceo who claimed things are improving with a very exciting future is leaving -v strange since he owns a quarter of the company . It all jam tomorrow .I am now v skeptical & sitting on a 35% loss.
I will be holding too. With the CTUs and the Gib rebuild I still think there is good potential here. Averaging down is still an option for me too. Overall these results are very poor, but hopefully we should see an upturn in trading based on the expansion of the business over the last eighteenth months.
I was about to say "well it doesn't seem to have had much effect on the share price" and then it did. But not by too much, so it looks like this is pretty much what the market expected then. It isn't a profits warning, they have owned up to serious misjudgments, aren't putting all the blame on the oil price slump, and are still quite upbeat about their future. Therefore, I'm holding.
Been here since 2005 and topped up in 2010!! Doesnt time fly! Had a lot of faith and was well up untill Gib disaster, but now 85% down!! I was really expecting a strong recovery when the legal case got sorted but the positive steps taken lately seem to be getting ignored in the SP. My feeling is that this will recover but it will be slow burn and needs to avoid any significant negatives along the way. I am sticking it out as not much to loose.
Hi value, Hi Rab
I can see a drop to c8p if the results disappoint in any way. News has been patchy to say the least, so we all remain in the dark. In the long term though I think there is real value here.
Don't know about the share price but I think the trend will be upwards if the news flow improves .with the rebuild of Gib,sale of ship to reduce cost and increased sale of CTUs I expect results to improve substantially this next year
Since what was effectively a profit warning a week before Christmas we have now had five director purchases totalling 412,000 shares. That is around £50k in outlay. You can take this either way. Is it a mark of confidence, or is it damning the company with faint praise?
Well, we had a small purchase by a director today, but only £11k worth. The price is also making a very small recovery, but this might be just reflecting a rising market. Like you Ms D I will wait for further news before buying again. The analysts are now suggesting oil will languish for a year or more. That suggests to me we will see 9 before we see 15. I remain midly confident here but the situation is much more fragile and vulnerable than it was twelve months ago.
I may be a mug but i believe the weak sales and continued losses are due to delayed contracts as stated rather than lost sales .They have increased management and costs to diversify ,have not rebuilt Malta yet where the costs are currently too high and delayed v .profitable oil Ctus and stu's have impacted too.
This could go on during much of next year Imho but I will wait and average down when the news flow improves .this is for the patient investor - £30k down so far!
Blanketstacker: Succinct post. This always looked like a share for 2015 - maybe that should be 2016 now given that at best new business is unlikely to be generating much before the latter part of next year.
Interestingly for me: No mention of insurers picking up the £120k Gib. fine. Not sure that insurers would pay out for what actually happened. Maybe we have to see the actual numbers to see if there is an offset.
As you say there is another Gib. matter. It is not clear to me who is due to pay whom and no indication of how much?
I bought a few on the basis of the director buys. I should have listened to me and waited! Silly me.
But as the value is not material to me I too will hold on but this time I WILL wait until there really are signs of a turn around before contemplating buying more.
...is the key phrase here. Some contracts are delayed into 2015, but more importantly income is declining due to the falling oil price. There is another dispute with the Gib government too. The cash in the bank will now sink to zero or below, as we are looking at a £2m loss on teh year.. The new CTU and STU bring a little relief, but not enough. I am holding on here, but not adding yet. This will probably sink below 10, and if there is more bad news sub-8.
COURT CONVICTS PORT EXPLOSION COMPANY ON HEALTH AND SAFETY CHARGES
by Cristina Cavilla
Stipendiary Magistrate Charles Pitto has delivered a damning verdict against Nature Port Reception Facilities, the company accused of breaching health and safety legislation in the lead up to the 2011 port explosion.
Of the nine charges alleging that Nature failed to ensure the safety of workers at its North Mole tank farm, the judge found that five had been proved, two had been partially proved and two had not been made out.
Mr Pitto said that he had no doubt that the plants staff ran the plant responsibly and with an iron rod but insisted that there was no command structure.
He said: Natures efforts to comply with the regulations ultimately lacked focus. They would consider processes but not necessarily see them through.
The company now faces hefty fines which the judge will deliberate and levy these on Friday.
I think Valueman is right: the insurers should carry the burden. It is interesting that some charges were not proven, and the court stated that it was a management and communications failure rather than anything inherent in the operations.
As an aside the Bahrain naval base may offer an opportunity for a CTU deployment. I also note one of our competitors, MYX, is undertaking a fund raising. They were widely tipped for great things at the beginning of the year.
Thought I would buy a few of these today as the recent fall appears to have steadied - famous last words - and the recent purchases by company directors and employees suggest confidence in the outlook.
It's a bit sooner than I expected but thought that 17.85 was OK and that I could buy more when the price moves either way.
i am assured that all claims are being handled by the insurer, not borne by Nature.
With a potential 50 CTUs&STUs up from current 4 and hopefully 9 by year end the future of the high return division looks v positive . Ive been topping up on weakness .
Today's Gibraltar Chronicle carries a report of the start of a criminal trial against the Nature Group's local subsidiary in connection with the 2011 explosion. It is thought that a conviction would aid the case for damages being brought against the NG by the family of the man who died.
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