THREAD NOW CLOSED 3 May 2007

LATEST NEWS...(Check RNS service for details)

10/4/2007 - GME removes its minority interest in Patriot so shareholders enjoy 100% of all growth at Patriot
20/3/2007 - GME announces it will no longer support as NIM as non-core but instead focus on Patriot's US$123 order book
4/1/2007 - Cantor Fitgerald report 6.90% Holding
Decemebr - $31m orders reported
w/b 27/11 - Cantor buy >3%, Further order of $11m for rig packages
w/e 24/11 - Orders of $20m announced, but not profitable as expected
w/e 13/10 - Further $8m orders
w/e 27/09 - Further additions by Schroders to 12%
w/e 22/9 - Further orders of c $18m plus Gartmore stake increases to 20%.

Global Marine Energy plc is an Oil services company primarily bringing together and delivering rig component/equipment packages to international markets. GME is the holding company for two subsidiaries, Patriot Mechanical Handling and NIM engineering. Patriot provides the bulk of GME's sales.

GME is a niche player, there being only 1 or 2 alternatives for packaged equipment.
Patriot is a member of Source One drilling - a marketing alliance created by Le Tourneau Ellis Williams (LEWCO). www.source1drilling.com

Thread re-opened post results. Feel free to post away. News summary under picture.

Disclaimer: As always, Do Your Own research as no comments or foward looking statements posted here can be guaranteed.

This is an AIM listed company so high risk - only for investments you & your family can afford and are prepared to loose.



***Latest*** (also see estimated Share position analysis below @ 20 April 2006)
19 Sept - $9m from Brazil & America
14 Aug - GME announces $9m of orders including $1.2m NIM orders for Baker marine
These funded in part from recent raised capital.
11 Aug - GME delivers 11.2m stg (2005 4.76m). NIM issues notified in July addressed.
June - Cobra Ltd take large stake, a few previous buyers add
June - Placings at 15p
25 May - Paul Findlay promoted to Group CEO. S Wild (NIM subsid) off board.
10 May - PMHH signs up to http://www.source1drilling.com alliance
8 May - PMHH huge $8.6M china order+announces multiple chinese deals
5 May - PMH signs exclusive deal with winch company EMCE/Stokvis
4 May - Shroders increase to 11.16%
19 Apr - Shroders buy 10.10% 4,525,000
4 Apr - Gartmore adds stock now 17%, CAML buys 3.52%

Owl
I have had to abandon the other thread. Will join you on this one if thats OK and hope that AM do a better job of running their threads than ADVFN. I am afraid i simply cant be bothered with the idiot over there anymore. Do you think we could get the others to join us over here ?

been here for ever Spec!!

Still no UK announcement for the PMHH deal.

Its an absolute fucking disgrace.

Time after time there is price sensitive information for the this company that is not announced on AIM.

I wouldnt be suprised to suddenly find Wood and his mates take all the stock from the instis for about 35p and make an ofer for the company as a MBO at 35-40p!!

It would give him a nice little profit on his own investement and control of GME on the cheap.

And just like with the masive dillution he has created the PIs would have no say at all!

What a scam. Issue loads of stock to the Instis with an agreement to buy it back and give them a guaranteed profit, Hide as much news as you can for as long as you can so the instis can gather up all the loose stock as PIs get bored and sell coz the SP aint going anywhere. Eventually there is over 90% held by the instis and the offer is made THAT YOU CANNOT refuse, not coz its good, but coz if you dont accept they will take you shares at THEIR price anyway!

Theres a long game going on here and its not in the PI's best interests!!

OWL, can you email me Padleys email address i dont have it here!

Hi Pom......
In the place to be :-)

michael.padley@bankside.com

Pommy - have you looked under the bed lately? It's even scarier!

instead of making stupid sarcastic remarks why dont you address my post like an adult.
there is something not right with what is going on.
Most Companies would be over the moon to RNS news like they have had here.
Why do they continually refuse to RNS stuff?
Why despite continual insti buying is the price not considerably higher?

IMHO the directors are talking the stock down! And theres a good reason for this!!

Sounds like a job for shares magazine! If you are right the publicity will do it no harm. Cannot see institutions standing for an MBO though, given how many are now on board.

given they got in at 17p an MBO at 35p would not be too much of a worry

100% return in 6 months!!

no wonder it was so heavily oversubscribed

Michael Barnard himself told me they only took the stock at 17p to sell into the after market at a profit to make up for the losses they had incurred on an earlier investement they had made in GME!

Pom
You could well be right......but then so could any of us......the bloody crime is that we are left to second guess. It could be the best thing since sliced bread or...um...not...Fact is, we haven't a bloody clue......thats the AIM for you :-)

i see more news out in the USA hat won be announced in the UK


its a fuckin joke!!

Owl


I think, for what its worth, GME/PMH keep the institutions updated and thats why they are keen, they are in the know. As for the PI's, I think GME/pmh see us as a necessary evil and an rns cost money to issue.
The PI's at best, just cause instability in the SP. They add an unwelcome volatility to the markets and we just cause them hassle with out BB's, E-mails and guesswork !
We will get to find out in the end, one way or another, thats the gamble. I have been caught like this before, last time i stuck it out and lost the lot as they declared themselves bankrupt......despite a full order book and a load of rosy RNS issues......
Incidentally, the management brought the company back off the receivers for a pittance and were trading again within 6 weeks , minus the PI's and the debts.....(CRT)

I will stick this one out as well but am now wondering if i will see my 38p break even point ?.......

michael.padley@bankside.com
susan.scott@bankside.com
adam.westcott@noblegp.com
or try Derrick Lee.

Another day goes by and they continue to ignore the rules

Spec,
Did CRT have lots of institutions & a major staff holder?
Let's imagine GME did take on too much debt, I think UBS, Gartmore etc would simply form a consortia to buy out the company, sell the debt in the financial markets and sell the company on for it's contracts, yards, staff & assets.

Could they realistically do this ? I think so as the industry is booming and GME equipment & skills can also be used in other industries, nuclear, ofshore wind etc

I was wondering with just 20m-25m shares tradeable, whether they'd attempt another consolidation?
It would leave just 200,000 shares left in the hands of 5MM's! - only 40,000 each. Now if they want to get rid of us PI's, that may be a way to do it.

why would it get rid of us?

holders of odd amounts would lose a few shares, but anymore with multiples of thousands wouldnt be affected

100,000 shares at 27p

would become 1000 shares at 2700p!!

Another consolidation would leave these virtually untradeable in my opinion.

The PI is the guy that stumps up the cash to take a company to the point where an institution might take notice, after that the PI is a pain. A pain to keep informed, with events and results, and actually cost the company money. The SP can double overnight on a rumour on a BB ! this kind of volatility does a company no good at all. Maybe if the investors here sat back and let the company do their thing over the next couple of years, the company might see us as a form of institution in our selfs but if we e-mail/text/phone them on a daily basis I can see why they would want shot of us. This was always going to be a medium term recovery gamble and i think we maybe look to hard , on a daily basis for the changes that are more likely on a quarterly basis....The important SP will be at your exit point in 2007/08 not next week or at results ;-)

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