im (very) sure that Halom understand the "risks" (ie a vulture fund / private equity fund acquires debt from one of the two lenders, likely at a discount to book!!!! - and then forces MMA into receivership .......and then recaps, then rides the eventual rebound .......) .........why hasn't Halom itself done this !!!!!!!!!!!!!!!!!
their comment:
explore realistic and executable strategies to address MMA’s current financial position – including (in Halom’s view) its unsustainable liquidity outlook and finances, relative to current earnings. We envisage this would include due consideration of recapitalisation initiatives and whether an accelerated and a holistic strategic process should be initiated to stabilise MMA’s balance sheet and to reset its leverage to a sustainable level.
suggests that if they can gain Board control - then the business will be re-capped .........
imho - that will be the time to consider this stock as a play on rebound in the OSV market cycle .........
I (personally) agree with much of what they have stated ................the current management / board should be taken outside and f......
they have pissed a lot of shareholder funds up againt said wall ................
IF nothing happens - then the banks will own it ..................
I hope that it remains in aussie hands ......has potential..........but at present - it carries an aweful lot of risk !
rgds
Value_Hunter
MRM Price at posting:
18.0¢ Sentiment: Hold Disclosure: Not Held
