still no news, page-20

All,

The rope access company is a VERY Very small business within NMS. Check the purchase price which will give you an indication of the volume of contribution. Sorry but a few ads for NDT techs on SEEK is no cause to celebrate the re emergence of NMS. THe rope access company will not be the saviour if indeed there can possibly be one and any contract secured are generally low value in comparison.

I believe that NMS is unlikely to go into receivership but I will be watching with keen interest the companies that they start to divest of to regain some working capital;

Boats first
followed by some dumping of WROVs I suggest is next
followed by scarving off of all of the engineering companies located in the UK
then the US diving company

I can see that NMS will go back to being a diving and ROV company with survey and grout bagging capability and possibly try to build back from there. The problem with this is that the only way forward is to go for a large construction vessel capable of sat diving and deepwater WROV, it is what the market is demanding for Ichthys, Browse and Wheatstone. However no one is going to ever support this sort of bold move ever again with NMS. For this reason I believe that Robin King will move on sometime mid year because he is the CEO from the TS7 JV (not CEO of Technip contrary to popular opinion). He is used to running massive vessels such as the Rocky 2 and the Venturer and once he realises that all he has to manouver with is the Trident and the Supporter he will move on.

I have been bladed before for making statements such as the above but if you look back to all of my posts you will no doubt see that most if not all of my posts have culminated in the truth.

Good luck and if NMS trade after Xmas I would imagine it will be circa 8 cents PS. If I was a venturer capitalist company I would be sharpening my knives for an aggressive take over and would carve this company up to the four winds. The business plan was fundamentally flawed from day one and it was only ever CL's charismatic snake oil salesman personality that kept it going as long as it did. the Instos came in and rapidly left after realising that it was smoke and mirrors with no fundamentals in the framework.

Geoff Edwards pulled the pin and i applaud him for his timing because rather than have his career destroyed by implication he bailed at the right time and is happily working as CFO for a mining company in Perth.

Good Luck to all