Mascarieri
Cuñado nija
- Desde
- 10 Jul 2021
- Mensajes
- 212
- Fruta
- 61
Me decís que es el form effect de Eglé y por que se ha apiolado en el post ?
NMM acción americana con muchísimo potencial
- Autor del tema CMarlow
- Fecha de inicio
Lain Coubert
Madmaxista
- Desde
- 4 Jun 2014
- Mensajes
- 2.927
- Fruta
- 5.146
Otra carta de hamor del activista Ned a nuestra charo favorita...
Le viene a decir que se ponga a vender barcos con descuento del 50% por ser de NMM, a precios 100% de mercado.
Me parece una magnífica idea, pero ya sabéis qué va a responder Angeliki: "jijiji, yo sólo soy una charo"
Le viene a decir que se ponga a vender barcos con descuento del 50% por ser de NMM, a precios 100% de mercado.
Me parece una magnífica idea, pero ya sabéis qué va a responder Angeliki: "jijiji, yo sólo soy una charo"
Mascarieri
Cuñado nija
- Desde
- 10 Jul 2021
- Mensajes
- 212
- Fruta
- 61
Alguien sabe algo de lo de Egle? Es que si entiendo que es un ownership del 5% no entiendo por qué la acción bajó justo ese 5%
bertok
Será en Octubre
Esto es bueno para los accionistas, parece que el activista va a ir hasta el final.
bertok
Será en Octubre
NEW YORK--(
Ned Sherwood, MRMP’s investment manager, noted that: “although MRMP has not sold any NMM limited partnership interests, we have amended our 13D beneficial ownership report trinc the dilutive issuance of 6,400,873 limited partnership interests in the Company’s ongoing ATM securities offering over the past several months. This new issuance has reduced our holdings from approximately 5.8% to 4.4% of the Company’s outstanding limited partnership interests.”
MRMP has attached a copy of its second letter to the Company as an exhibit to the 13D amendment filed today. This letter details MRMP’s views regarding the Company’s recent transactions and reiterates several suggestions set forth in the initial letter, along with an additional proposal that MRMP believes would significantly reduce the current discount to net asset value at which NMM trades: the merger of Angeliki Frangou’s private ship management company into NMM.
Mr. Sherwood noted that: “In addition to being the CEO of NMM, Angeliki privately owns a ship management entity that collects commissions on ship purchases and sales and also earns management fees for operating the ships. Her incentives are therefore to grow the fleet by buying more ships. As an LP in NMM, we are wondering why any rational business person would buy individual ships when they are immediately valued at approximately 50 percent of cost at the NMM LP unit price. It would certainly seem that when a private entity earns income by growing the fleet and a related public entity trades 100 percent dollars for ships valued at 50 percent of its market price, a conflict of interest can easily arise.”
Mr. Sherwood went on to state “We would propose that Angeliki Frangou merge her private entity with NMM at an appropriate valuation, so that all LP and GP investors’ incentives are better aligned and we can all row in the same direction. In my opinion, such action would immediately cause an upward revaluation of NMM assets and interest price.”
All limited partnership interest holders in NMM are encouraged to read MRMP’s latest 13D amendment in full. Any questions or comments may be directed to Mr. Sherwood. Limited partnership interest holders are also welcome to copy Angeliki Frangou on such correspondence. To date no one from the Company, including Angeliki Frangou, has responded to MRMP’s initial letter, and the Company appears to be ignoring the many value-add suggestions and recommendations of its LP holders
Tienes que estar registrado para ver este contenido
)--MRMP-Managers LLC (“MRMP”), announced today that it has sent a trinc-up letter to the Board of Directors of Navios Mar1 Partners LP (the “Company” or “NMM”) (NYSE: NMM) trinc the announcement by the Company of certain transactions.Ned Sherwood, MRMP’s investment manager, noted that: “although MRMP has not sold any NMM limited partnership interests, we have amended our 13D beneficial ownership report trinc the dilutive issuance of 6,400,873 limited partnership interests in the Company’s ongoing ATM securities offering over the past several months. This new issuance has reduced our holdings from approximately 5.8% to 4.4% of the Company’s outstanding limited partnership interests.”
MRMP has attached a copy of its second letter to the Company as an exhibit to the 13D amendment filed today. This letter details MRMP’s views regarding the Company’s recent transactions and reiterates several suggestions set forth in the initial letter, along with an additional proposal that MRMP believes would significantly reduce the current discount to net asset value at which NMM trades: the merger of Angeliki Frangou’s private ship management company into NMM.
Mr. Sherwood noted that: “In addition to being the CEO of NMM, Angeliki privately owns a ship management entity that collects commissions on ship purchases and sales and also earns management fees for operating the ships. Her incentives are therefore to grow the fleet by buying more ships. As an LP in NMM, we are wondering why any rational business person would buy individual ships when they are immediately valued at approximately 50 percent of cost at the NMM LP unit price. It would certainly seem that when a private entity earns income by growing the fleet and a related public entity trades 100 percent dollars for ships valued at 50 percent of its market price, a conflict of interest can easily arise.”
Mr. Sherwood went on to state “We would propose that Angeliki Frangou merge her private entity with NMM at an appropriate valuation, so that all LP and GP investors’ incentives are better aligned and we can all row in the same direction. In my opinion, such action would immediately cause an upward revaluation of NMM assets and interest price.”
All limited partnership interest holders in NMM are encouraged to read MRMP’s latest 13D amendment in full. Any questions or comments may be directed to Mr. Sherwood. Limited partnership interest holders are also welcome to copy Angeliki Frangou on such correspondence. To date no one from the Company, including Angeliki Frangou, has responded to MRMP’s initial letter, and the Company appears to be ignoring the many value-add suggestions and recommendations of its LP holders
juanmas
Himbersor
- Desde
- 9 Ene 2021
- Mensajes
- 552
- Fruta
- 683
Lain Coubert
Madmaxista
- Desde
- 4 Jun 2014
- Mensajes
- 2.927
- Fruta
- 5.146
También, también. Además de esto otro:
Hopefully, Angeliki will give serious consideration to the suggestions and proposals enumerated in our letters and 13D filings and give some deference to the LPs in a show of some respect. We reiterate these suggestions below.
| 1) | NMM should cease all ATM LP equity issuance at values less than 85% of a reasonable estimate of fleet value. In fact, NMM should explore LP share buybacks in order to take advantage of the current discounted price. | |
| 2) | If NMM continues to trade at approximately 50% or less of market value, the GP should endeavor to sell ships from their fleet to realize proceeds closer to the 100% of market value and pay down debt, buyback LP interests or distribute proceeds to LP holders. | |
| 3) | In our opinion, the current debt level at NMM is reasonable (if not below the norm) versus comparable companies, therefore, NMM’s GP and management should set a distribution percentage of no less than 75% of estimated annual free cash flow. MLP’s are supposed to distribute the bulk of their free cash flow to LP holders, and Angeliki’s erratic policies and reluctance to distribute cash lead to uncertainty and discounted equity valuations. |
Angeliki se lo va a pasar por el forro, pero yo veo correcto que le destapen sus mandangas.
Cormac
Redactor Jefe de Necrológicas de Burbuja.Info
Querido Ned, tú y yo sabemos que a tí mi compañía te la sopla a, largo plazo, que lo que buscas es forrarte y que cuando vayan mal dadas allá por el 2023, como en cualquier sector cíclico, serás el primero, al igual que las ardilla, en abandonar el barco.
Así que muchas gracias por los consejos, pero son mis barcos y mi compañía.
Atentamente,
Angelika
Witosev
Lonchafinista
- Desde
- 19 May 2021
- Mensajes
- 205
- Fruta
- 313
Menudo friki que es el amigo Ned 
En NMM si algo está claro es que no te puedes aburrir
Que si, que el plan maestro sería controlar la compañía, liquidar los activos y repartirnos los 80 pavos por acción y hacer una fiesta de celebración en Mykonos rodeados de langosta y champán. Pero esto no funciona así.
En cualquier caso creo que es bueno que esté Ned dando la brasa porque eso obligará a Charo a mantenerse totalmente dentro de la legalidad. Cualquier mínimo despiste le cae la demanda.
En NMM si algo está claro es que no te puedes aburrirQue si, que el plan maestro sería controlar la compañía, liquidar los activos y repartirnos los 80 pavos por acción y hacer una fiesta de celebración en Mykonos rodeados de langosta y champán. Pero esto no funciona así.
En cualquier caso creo que es bueno que esté Ned dando la brasa porque eso obligará a Charo a mantenerse totalmente dentro de la legalidad. Cualquier mínimo despiste le cae la demanda.
bertok
Será en Octubre
Menudo friki que es el amigo Ned
Que si, que el plan maestro sería controlar la compañía, liquidar los activos y repartirnos los 80 pavos por acción y hacer una fiesta de celebración en Mykonos rodeados de langosta y champán. Pero esto no funciona así.
En cualquier caso creo que es bueno que esté Ned dando la brasa porque eso obligará a Charo a mantenerse totalmente dentro de la legalidad. Cualquier mínimo despiste le cae la demanda.
La terminará cazando por algún sitio.
Mascarieri
Cuñado nija
- Desde
- 10 Jul 2021
- Mensajes
- 212
- Fruta
- 61
sabéis alguno que fue el filling ese de egle? Hoy le tocaba corregir a nuestra amiga no ?
Janus
Será en Octubre
- Desde
- 18 Ago 2011
- Mensajes
- 44.517
- Fruta
- 73.090
Vaya con el enemigo de la golfeta. Creo que se lee muy claramente que ese tío es brillante.Respuesta de AF: Estimado Ned....
Hace una exposición clara sobre la juguetonada en la que incurre la CEO pero sin meterse en que es una juguetonada. Después deja la duda de por qué una empresa compra a NAV lo que después se va a valorar en el mercado a 0,5xNAV de manera que da a entender que quizá la pájara lo hace no por la empresa sino por su interés personal dueña de la empresa privada que más gana en toda la transacción. En español, conflicto de interés.
Y va un paso adelante proponiendo la que venda esa empresa a NMM de manera que ese conflicto desaparece y que en adelante el chollo se quede en NMM a lo que la golfeta (perdonad, me parece más apropiado que Charo) tiene difícil justificación .....
Una empresa tan buena no puede tener este tipo de enemigos. Una empresa con estos conflictos en donde se huele que e seguida todos se meten into legals ... no puede prosperar. Da igual el negocio, se termina perdiendo el foco y la gente inteligente huye de los líos.
Parece que le ha ansioso la horma de su zapato.
Minadeperro
Madmaxista
- Desde
- 28 Jun 2020
- Mensajes
- 109
- Fruta
- 181
Sí. Yo estaba muy contento con PANL, buscando máximos, y luego he visto el volumen regulero....
Ricardiano
Madmaxista
31,43 muy buen cierre semanal.
bertok
Será en Octubre
September 3, 2021
Board of Directors
Navios Mar1 Partners GP
7 Avenue de Grande Bretagne, Office 11B2
Monte Carlo, MC 98000 Monaco
To Whom It May Concern:
As you will see from our latest 13D amendment filed with the SEC, Navios Mar1 Partners LP’s (“NMM”) illogical share issuances via ATM’s and its proposed acquisition of Navios Mar1 Acquisition Corporation (“NNA”) have reduced our percentage ownership from 5.80% to 4.39%.
With regard to the NNA acquisition, we are not sure whether we are better or worse off -- only time and tanker rates will tell. With regard to selling equity via ATM’s at significantly below true net asset value, we do know that we are NOT better off. As the Founder and GP of private equity firm ZS Fund, we always valued our LPs and treated them as true “partners” – not just sources of cash and second-class citizens.
We believe that in most partnerships, the GP and LP interests are aligned; however, that is not the case in “Angeliki-land”. In the “Angeliki-land” we find ourselves in today, the focus seems to be on acquiring more ships, and not creating more value for the limited partners. More ships in all likelihood means Angeliki’s private ship management company reaps more buy and sell commissions and higher management fees, while NMM’s LPs are left with a greater discount to book value. In other words, more ships are not better when NMM trades at a discount to net asset value.
Furthermore, in our opinion, NNA was in a liquidity bind and could have been acquired for approximately $50 million less than the stated purchase price given its desperate financial situation; however, for Angeliki’s empire that would not have been good. Thus, a shotgun acquisition (structured without the necessity of an LP vote) was blessed by independent parties like S. Goldman LLC (the majority of whose fees come from Navios entities), Jefferies LLC (which will no doubt receive a potentially significant fee from the arrangement) and the NMM Board of Directors and Conflicts Committee (which appears to routinely approve non-arm’s length transactions between NMM and entities controlled by Angeliki).
Notwithstanding what we see as Angeliki’s dictatorial and self-serving antics, the booming dry bulk and container markets augur well for NMM’s continued success given its expected massive increases in cash flow. However, we believe the replacement of Angeliki as GP by virtually any other shipping company would lead to an even greater appreciation for NMM LP interests.
Although our initial 13D and letter to NMM included but a few simple suggestions, we were shocked to receive unsolicited emails from holders of approximately 30 – 40% of outstanding LP shares supporting the replacement of Angeliki’s current practices with the shareholder friendly suggestions that MRMP previously outlined.
In addition, based on correspondence with third parties in the industry, we believe certain large shipowners would be interested in acquiring NMM if Angeliki no longer served as GP. Despite the obvious benefits that could be achieved if such changes were implemented, MRMP does not plan to fund a proxy fight seeking to remove Angeliki as the GP given that a 66 2/3 percent vote is necessary to effect her removal as GP. While her direct ownership is only around 10%, the odds of success would be slim and we antiestéticar a proxy fight may lead her to issue even more shares into friendly hands in order to further dilute our votes and to protect her continued role as GP. Instead, we prefer to focus our efforts on productive ways to create additional LP value, not ways to destroy it.
Hopefully, Angeliki will give serious consideration to the suggestions and proposals enumerated in our letters and 13D filings and give some deference to the LPs in a show of some respect. We reiterate these suggestions below.
1) NMM should cease all ATM LP equity issuance at values less than 85% of a reasonable estimate of fleet value. In fact, NMM should explore LP share buybacks in order to take advantage of the current discounted price.
2) If NMM continues to trade at approximately 50% or less of market value, the GP should endeavor to sell ships from their fleet to realize proceeds closer to the 100% of market value and pay down debt, buyback LP interests or distribute proceeds to LP holders.
3) In our opinion, the current debt level at NMM is reasonable (if not below the norm) versus comparable companies, therefore, NMM’s GP and management should set a distribution percentage of no less than 75% of estimated annual free cash flow. MLP’s are supposed to distribute the bulk of their free cash flow to LP holders, and Angeliki’s erratic policies and reluctance to distribute cash lead to uncertainty and discounted equity valuations.
Additionally, we believe that the independent directors of NMM should mandate that Angeliki’s private ship management entity be merged with NMM in order to avoid future conflicts of interest. In our opinion this would cause NMM’s share price to jump immediately.
Until Angeliki decides to treat shareholders as “partners” in this venture, we would encourage all LP holders to vote against any proposal brought forth by the GP (acknowledging the unfortunate fact that the recently announced NNA transaction was structured in a manner to avoid an LP vote).
In the meantime, we hope that the dry bulk and container rates continue to soar and the tanker market rebounds resulting in NMM LP price appreciation albeit at a substantial “Angeliki discount.”
In conclusion, we hope that Angeliki as GP begins to implement LP friendly actions (not GP friendly actions) that lead to a reduction in the massive “Angeliki discount” on the LP interests. A merger with her private ship management company would be a great first step. If not, we hope that another more LP friendly ship company ultimately attempts to take advantage of the significant under-valuation and bids for NMM. We believe that the majority of the shareholder base would benefit from such an offer.
Sincerely,
/s/ Ned L. Sherwood
Board of Directors
Navios Mar1 Partners GP
7 Avenue de Grande Bretagne, Office 11B2
Monte Carlo, MC 98000 Monaco
To Whom It May Concern:
As you will see from our latest 13D amendment filed with the SEC, Navios Mar1 Partners LP’s (“NMM”) illogical share issuances via ATM’s and its proposed acquisition of Navios Mar1 Acquisition Corporation (“NNA”) have reduced our percentage ownership from 5.80% to 4.39%.
With regard to the NNA acquisition, we are not sure whether we are better or worse off -- only time and tanker rates will tell. With regard to selling equity via ATM’s at significantly below true net asset value, we do know that we are NOT better off. As the Founder and GP of private equity firm ZS Fund, we always valued our LPs and treated them as true “partners” – not just sources of cash and second-class citizens.
We believe that in most partnerships, the GP and LP interests are aligned; however, that is not the case in “Angeliki-land”. In the “Angeliki-land” we find ourselves in today, the focus seems to be on acquiring more ships, and not creating more value for the limited partners. More ships in all likelihood means Angeliki’s private ship management company reaps more buy and sell commissions and higher management fees, while NMM’s LPs are left with a greater discount to book value. In other words, more ships are not better when NMM trades at a discount to net asset value.
Furthermore, in our opinion, NNA was in a liquidity bind and could have been acquired for approximately $50 million less than the stated purchase price given its desperate financial situation; however, for Angeliki’s empire that would not have been good. Thus, a shotgun acquisition (structured without the necessity of an LP vote) was blessed by independent parties like S. Goldman LLC (the majority of whose fees come from Navios entities), Jefferies LLC (which will no doubt receive a potentially significant fee from the arrangement) and the NMM Board of Directors and Conflicts Committee (which appears to routinely approve non-arm’s length transactions between NMM and entities controlled by Angeliki).
Notwithstanding what we see as Angeliki’s dictatorial and self-serving antics, the booming dry bulk and container markets augur well for NMM’s continued success given its expected massive increases in cash flow. However, we believe the replacement of Angeliki as GP by virtually any other shipping company would lead to an even greater appreciation for NMM LP interests.
Although our initial 13D and letter to NMM included but a few simple suggestions, we were shocked to receive unsolicited emails from holders of approximately 30 – 40% of outstanding LP shares supporting the replacement of Angeliki’s current practices with the shareholder friendly suggestions that MRMP previously outlined.
In addition, based on correspondence with third parties in the industry, we believe certain large shipowners would be interested in acquiring NMM if Angeliki no longer served as GP. Despite the obvious benefits that could be achieved if such changes were implemented, MRMP does not plan to fund a proxy fight seeking to remove Angeliki as the GP given that a 66 2/3 percent vote is necessary to effect her removal as GP. While her direct ownership is only around 10%, the odds of success would be slim and we antiestéticar a proxy fight may lead her to issue even more shares into friendly hands in order to further dilute our votes and to protect her continued role as GP. Instead, we prefer to focus our efforts on productive ways to create additional LP value, not ways to destroy it.
Hopefully, Angeliki will give serious consideration to the suggestions and proposals enumerated in our letters and 13D filings and give some deference to the LPs in a show of some respect. We reiterate these suggestions below.
1) NMM should cease all ATM LP equity issuance at values less than 85% of a reasonable estimate of fleet value. In fact, NMM should explore LP share buybacks in order to take advantage of the current discounted price.
2) If NMM continues to trade at approximately 50% or less of market value, the GP should endeavor to sell ships from their fleet to realize proceeds closer to the 100% of market value and pay down debt, buyback LP interests or distribute proceeds to LP holders.
3) In our opinion, the current debt level at NMM is reasonable (if not below the norm) versus comparable companies, therefore, NMM’s GP and management should set a distribution percentage of no less than 75% of estimated annual free cash flow. MLP’s are supposed to distribute the bulk of their free cash flow to LP holders, and Angeliki’s erratic policies and reluctance to distribute cash lead to uncertainty and discounted equity valuations.
Additionally, we believe that the independent directors of NMM should mandate that Angeliki’s private ship management entity be merged with NMM in order to avoid future conflicts of interest. In our opinion this would cause NMM’s share price to jump immediately.
Until Angeliki decides to treat shareholders as “partners” in this venture, we would encourage all LP holders to vote against any proposal brought forth by the GP (acknowledging the unfortunate fact that the recently announced NNA transaction was structured in a manner to avoid an LP vote).
In the meantime, we hope that the dry bulk and container rates continue to soar and the tanker market rebounds resulting in NMM LP price appreciation albeit at a substantial “Angeliki discount.”
In conclusion, we hope that Angeliki as GP begins to implement LP friendly actions (not GP friendly actions) that lead to a reduction in the massive “Angeliki discount” on the LP interests. A merger with her private ship management company would be a great first step. If not, we hope that another more LP friendly ship company ultimately attempts to take advantage of the significant under-valuation and bids for NMM. We believe that the majority of the shareholder base would benefit from such an offer.
Sincerely,
/s/ Ned L. Sherwood
Última edición:
Mascarieri
Cuñado nija
- Desde
- 10 Jul 2021
- Mensajes
- 212
- Fruta
- 61
Que poco me gustan los días de bajada que lleva Egle y Sigo sin saber que significa ese sec filling
CMarlow
Madmaxista
- Desde
- 25 Nov 2015
- Mensajes
- 1.076
- Fruta
- 2.210
A nivel técnico NMM se ha comportado muy bien esta semana pasada. Ha cerrado por encima de la resistencia de los 30 y está en la parte alta del canal alcista que comenzó a construir a mediados de julio, con máximos y mínimos crecientes. La jornada del viernes tuvo un volumen muy bajo, comparada con las 5 jornadas anteriores, pero hemos visto volúmenes bajos en todo el sector, así que no me preocupa demasiado. Las MM de 20 y 40 están bien ordenadas y mirando al alza, lo que es un signo positivo. El RSI se sitúa en 64, por debajo de la zona de sobrecompra, sin crear estrés a la acción. Y el MACD también da señales positivas. Le queda algo de espacio para subir dentro del canal alcista, pero si quisiese llegar a máximos anuales pronto tendría que romper el línea de tendencia superior. Si lo hace en un movimiento rápido (esta próxima semana) podríamos ver un cierto recorte después de tocar esas cotas de 36-37 usd.
Tienes que estar registrado para ver este contenido
Hombredepaja
Madmaxista
- Desde
- 28 Oct 2015
- Mensajes
- 2.031
- Fruta
- 1.807
TGP subiendo fuerte los dos últimos días y con volúmenes brutales.
CMarlow
Madmaxista
- Desde
- 25 Nov 2015
- Mensajes
- 1.076
- Fruta
- 2.210
Sí, TGP es una excepción. No sé qué le pasa... algún fondo grande entrando tal vez?
Yo tengo 13k TGP, pero no la cuento entre "las que sigo" porque la tengo en la cartera de dividendo y la miro poco, la verdad.
Hombredepaja
Madmaxista
- Desde
- 28 Oct 2015
- Mensajes
- 2.031
- Fruta
- 1.807
Ni idea, sólo espero que siga así hasta los $30 😀
Janus
Será en Octubre
- Desde
- 18 Ago 2011
- Mensajes
- 44.517
- Fruta
- 73.090
Si, es mucho volumen y ayer aguanto el día sin tomar beneficios además estrellándose con la resistencía en el entorno 16-17 donde sale papel. Ha tenido dos días de nota. Puede ser que alguien sepa que van a subir el dividendo pero lo dudo, son de estrujar el bolsillo de los inversores y son poco generosos. Para reducir al amortización de deuda para poder mejorar unos barcos SI, para reducir la amortización de la deuda para subir el dividendo NO.
Podría ser que recompra preferentes y ahorra unos cuantos millones en un intereses pero dudo que eso explique una entrada de tanto volumen así de repente. Además esa recompra ya se espera y el ahorro es lo que van a destinar a subir unos céntimos el dividendo, son egoístas de cara al inversor.
Es muy importante que pegue un tirón más arriba y se vaya a los 20 para estar ya en otro escalón distinto de Trading.
Hace años llegó a tener dividendo de 0,75 USD por trimestre en vez de los 0,28 USD de ahora. Eso posibilitaba que los fondos de dividendos se posicionaran en el valor llevando a 40 USD a la cotización. Que vuelvan los fondos porque esperan buen dividendo es bueno. Ponerlo en 0,5 USD trimestre es que el valor este a 25 USD con divide do 8%. Ahí hay que mirar cómo poco.