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Global Ship Lease, Inc. Message Board

smcapmachine 6 posts  |  Last Activity: Jul 22, 2015 11:14 AM Member since: Jun 4, 2002
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  • Reply to

    Dividend guess

    by mghaynes_1 May 16, 2015 11:56 AM
    smcapmachine smcapmachine Jul 22, 2015 11:14 AM Flag

    I agree waiting isn't fun. I think there is a great chance we get the acquisition and divvy on earnings day, but if we don't I expect the ship acquisition very soon after. The catalysts of sustainable large dividend, accretive refinancing, and rapid dividend accretive fleet growth are imminent.

  • Reply to

    Dividend guess

    by mghaynes_1 May 16, 2015 11:56 AM
    smcapmachine smcapmachine Jul 17, 2015 1:24 PM Flag

    1. They have the cash TODAY to make a 8000 TEU ship acq adding $8m on incremental EBITDA. They only need $2m on incremental EBITDA to meet their 2.25x Fixed Coverage Ratio covenant - triggering dividend restart.
    2. If they wanted they can borrow an additional $50m cash at 50% LTV on their 2 unencumbered ships.
    3. They will announce the dividend plans the same day they announce the ship acquisition (per mgmt.)

  • Reply to

    Dividend guess

    by mghaynes_1 May 16, 2015 11:56 AM
    smcapmachine smcapmachine Jul 9, 2015 12:57 PM Flag

    absolutely no reason we need to wait until september. I expect an imminent ship acquisition and resumption of dividend. Within one month.

  • Reply to

    this pos is going lower..

    by babaganoosh346 Jun 18, 2015 1:21 PM
    smcapmachine smcapmachine Jun 30, 2015 10:11 AM Flag

    Virtually zero exposure to day rates

  • Reply to

    Dividend guess

    by mghaynes_1 May 16, 2015 11:56 AM
    smcapmachine smcapmachine Jun 10, 2015 12:57 PM Flag

    i expect the company to acquire 1 more ship within a month or two. The dividend restart will be announced the same day the ship acquisition is announced. I think it will be between .40-.50/sh annualized to start and will increase from there

  • Reply to

    1st Qrt numbers....

    by furrypirate2000 Apr 30, 2015 9:02 AM
    smcapmachine smcapmachine Apr 30, 2015 10:09 PM Flag

    They have plenty of cash. No one will tender bonds at the 102 call price when the current market is 104/105, so they will finish the June quarter with $46m of cash. They can also borrow at 50% LTV on their $50m wholly owned ship. So they have $25m + $46m = $71m cash available at the end of June. They need to acquire only $5-6m of incremental ebitda to be in comfortable compliance with their fixed coverage ratio. That would cost them around $30-$35m. Cash is not an issue!

GSL
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