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Announcement - Awards for Subsea Srvices in the Middle East_Rev20250814
MERMAID PROJECTS AWARD APPROXIMATELY USD 430-500 MILLION Mermaid Maritime Public Company Limited (the &ldquo Company&rdquo together with its subsidiaries, correctly referred to as &ldquo Mermaid Group&rdquo ), a leading International Subsea Service Group of companies, is pleased to announce that its subsidiaries in the Middle East,
have secured multiple project awards with the combined value of approximately USD 430 to 500 million. The subject project awards include the deliver a comprehensive suite of services including diving, inspection, repairs and maintenance as well as subsea cable installation scopes utilizing a number of vessels including our DP2 saturation dive support vessel, and a range of related services (collectively the &ldquo Projects&rdquo ), and commenced as per the planned long-term contract. &ldquo We are profoundly grateful for our clients&rsquo ongoing trust and support, which has driven this significant achievement. These contracts underscore a major growth opportunity for Mermaid and reaffirm our pivotal role within the energy sector&rsquo s value chain. These new engagements advance our Group strategy, strengthening Mermaid' s position in the industry, ensuring a prosperous path for our stakeholders. This upward trajectory is now firmly in place, directly contributing to sustained long-term growth and a secure future for our dedicated team and their families. Our unwavering commitment to innovation, sustainability, environmental awareness, and excellence will continue to shape Mermaid&rsquo s lasting impact on the energy sector.&rdquo Mr. Chalermchai Mahagitsiri, Group CEO.
These Projects are expected to contribute positively to Mermaid Group in 2025 and beyond. None of the directors or controlling shareholders of Mermaid Group has any interest, whether directly or indirectly, in the Projects, other than through their respective shareholdings in Mermaid Group
It is time for Mermaid Maritime to shine.
Headling towards 130 before result annoucement.
breakout 130 soon. matter of time going 150
BO 126 Fast and Furious with volume will propel this to 130 to 140.. WATCH.... SHortists be ready to cover back....
TraderBen ( Date: 18-Jul-2025 09:28) Posted:
good luck.. 2Q results will matter alot
trader1970 ( Date: 18-Jul-2025 09:18) Posted:
PA and Short term chart shows bullish and cup and handle breakout... WATCH.. It has consolidated enough for a " fast and furious" spike up soonnnn..... WATCH |
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good luck.. 2Q results will matter alot
trader1970 ( Date: 18-Jul-2025 09:18) Posted:
| PA and Short term chart shows bullish and cup and handle breakout... WATCH.. It has consolidated enough for a " fast and furious" spike up soonnnn..... WATCH |
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PA and Short term chart shows bullish and cup and handle breakout... WATCH.. It has consolidated enough for a " fast and furious" spike up soonnnn.....
WATCH
It is supposed to be a good company in a niche market. however with almost 1b worth of contracts and still trying so hard to generate profits. makes it feels worse than a costruction company. i think they bid the projects at almost break even prices hence the low margin.. with low margins and high labour cost. (more than 1000 engineers). it could be a suicde move. company raising money thru non renouceble rights shows how depserate it is in need of cash. the 50m collected will likely pay off the debts and it must really see the next 2 Qs for signs whether they still can make it or not.
TBH i used to like this comany alot.. but seeing it go down like that burning cash.. it was a no brainer to exit and look somewhere else.
I sold off a huge chuck when it rebound before CR at 0.121 and still holding 100 lots to see if there is any more future in this.
i put the funds into Koh eco at 0.055 and i see a brighter future in the near term there.
DYODD
SmallSmall ( Date: 09-Jul-2025 10:41) Posted:
Rights issue $0.118 undersubscribed but SS increased his holdings from 58% to 68%.
Now trading at $0.114 below rights issue price.
Limited downside. Cosco already moves above rights issue price of $0.122 at $0.124
This one van' t be that bad right? It is actually a pretty good company.
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Rights issue $0.118 undersubscribed but SS increased his holdings from 58% to 68%.
Now trading at $0.114 below rights issue price.
Limited downside. Cosco already moves above rights issue price of $0.122 at $0.124
This one van' t be that bad right? It is actually a pretty good company.
Mermaid Maritime raises $56.1 mil from rights issue of up to 807.62 mil shares
Mermaid Maritime Public Company has raised net proceeds of about $56.1 million from its non-renounceable non-underwritten rights issue of up to 807,616,489 new ordinary shares.
The company first announced that it would be conducting a rights issue on Feb 28, 2025, for 11.8 cents for each rights share on the basis of four rights shares for every seven ordinary shares in the capital of the company held by the shareholders.
At the close of the rights issue on June 30, Mermaid Maritime received valid acceptances and excess applications for 59.1% or 477,414,333 rights shares.
The balance of 330,804,591 rights shares which were not validly accepted will be allotted to satisfy applications for excess rights shares, in which preference will be given to the rounding of odd lots, and directors and substantial shareholders who have control or influence over the company in connection with the day-to-day affairs.
The group says that it will use the net proceeds for general corporate and working capital requirements of the group, including to reduce overdue trade payables and/or to repay interest bearing debt.
Only 50% subscribed .. good luck.
trader1970 ( Date: 03-Jul-2025 23:06) Posted:
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General Announcement::PROPOSED NON-RENOUNCEABLE NON-UNDERWRITTEN RIGHTS ISSUE - RESULTS OF THE RIGHTS ISSUE AND UPDATE
Haha finally confirmed that the rights issue is
fully subscribed, notably by the
controlling shareholder, Thoresen Thai Agencies (TTA). This is indeed a vote of confidence and expect share price to gap up assuming oil price is maintained or higher tomorrow. WATCH
those still holding this i think its better to run 1st.. even SSH let the rights allocation lapse.. what does it shows?? they actually also promised to subscribed.. its not a matter of the share price now. its the confidence level they have in the company.. i dont think that few cents difference for the current open market price is an issue for not subscribing.. its the business profitability that they should be able to know better than anyone else.. its becoming like worse than contruction company' s margin
DYODD
did the SSH gave up the rights also?? hahaha what a joke..waste time..
Thanks for pushing up to let me exit .. bye mermaid..
btw i am NOT going to subscribe to the rights..
tankoksee ( Date: 10-Jun-2025 15:43) Posted:
go 20 cts go........
Ramster ( Date: 10-Jun-2025 15:32) Posted:
| If they do that, maybe people will sell n wait for further movement direction |
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go 20 cts go........Ramster ( Date: 10-Jun-2025 15:32) Posted:
| If they do that, maybe people will sell n wait for further movement direction |
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If they do that, maybe people will sell n wait for further movement direction
why dont they spend abit of money and push the price up.. if not really no one will sub to the rights..
The price after XR will be higher if ALL rights taken up 🤣 🤣 🤣
even so i wouldnt want to.. i will sell off my remaining 300 lots.. .. ironically the price will be higher after XR.. haha.. now XR price is 109..
ysh2006 ( Date: 09-Jun-2025 11:05) Posted:
Ya still need to pop up 35% before we want to subscribe lah..
TraderBen ( Date: 09-Jun-2025 09:22) Posted:
| trying to prop up the price for retailers to subscribe to the rights? haha.. try harder.. |
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