new vessels, page-5

According to the pro forma balance sheet in the SPP presentation after payment of Deeptech, Seastruct and borrowing for the ROV's their will be $29mill left over.By the time they buy the vessels (or company which owns the vessels)hopefully the SP will be up and the number of shares issued will be mimimised. With a bit of luck around 25 - 30 mill or less issued. They may even consider a mixture of cash, borowings and share issue.
There will be no problems getting instos' to take shares up.