insider buying of RICKMERS MARITIME

neontet
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15 years 4 months ago #818 by neontet

insider buying of RICKMERS MARITIME was created by neontet

Lim How Teck , a director, continued his accumulation. he bought last friday at 40 cents. 50,000 shares .... info.sgx.com/webcorannc.nsf/37e9d50ee377...008991d?OpenDocument prior to that on nov 19, The Capital Group Companies added to its holding and became a substantial shareholder. info.sgx.com/webcorannc.nsf/37e9d50ee377...004ed7d?OpenDocument

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neontet
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15 years 4 months ago #819 by neontet

Replied by neontet on topic Re:insider buying of RICKMERS MARITIME

reits & shipping trusts: bargains today because of uncertain tomorrow. www.nextinsight.net/content/view/708/60/

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15 years 4 months ago #828 by neontet

Replied by neontet on topic Re:insider buying of RICKMERS MARITIME

ocbc report today highlights the fact that Rickmers needs a lot of loans to pay for new ships ordered. but how to raise so much $? At what price, equity? We also note that credit facilities for the US$711.6m vessels due in FY10 have not been arranged yet. We believe the market value of those vessels would have taken a hit versus the asset cost pre-fixed by RMT. So even if lenders provide 100% loan-to-market value, it would not cover the cost of the vessel. We expect the terms on those facilities to be even more stringent, and expect fresh equity will again be needed to fund the FY10 vessels. In total, we estimate that RMT needs around US$600m in fresh equity, at least, over the next two or three years. At current price levels, any issue would be highly dilutive to existing unitholders.

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