What are the chances of both counters experiencing a trading halt on the same day?!
Charisma Energy Services reported that it had secured another contract. This time worth USD72mil over a 7-year period to provide a fleet of 5 offshore support vessels. This is really good news because the contracts are really piling up for Charisma. In fact the document also states that the project is expected to have a positive impact on the group's earnings per share and NTA per share. Why it's still languishing at 4.1 cents is just perplexing to me.
Giken Sakata reported the proposed placement of up to 80,000,000 new ordinary shares. This dilutes the total float by almost 25%. And yet the share price has held strong at 33.5c. Perplexing yet again.
Not sure what to make of the price action, but I'm still very confident of Charisma Energy Services seeing better days in its share price.
HUAT AH!
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