Global Marine Energy.

All resolutions passed, and no Bankside on announcement contacts!
Significant?

What is significant is nearly everything PI's have asked for, we've got (at a cost!)

- Fully financed company? Yes
- New Overdraft approval? Yes
- End of reorg? Yes
- Consolidation? Yes
- New name? Yes
- New advisers? Yes
- Institutions on board? Yes
- Chairman to show his colours with significant purchase? Yes
- Other directors? No, not since Jan.
- New web site. Yes
- Repeat orders. Yes - Dalian, Kepel, Pemex
- More orders? Yes - could deliver outstanding £11m over next 1.5yrs at a profit for both 2006 & 2007 if desired.
- Profit ? (not for definite yet - believe it when see it, but said to be trading profitably now)
- Jv wow factor orders or 'big deal'? No
- NIM orders? Nothing yet
- No more placings? Not for definite, but looks unlikely for a year or two. With cash available, on current resources, could get to t/o £10m without cash flowing in if needed. i.e. have resources now to deliver £6.85m over half-year Sept -Mar 06. £10m is IMO very ambitious though - given current management.

Patience needed with GME. However, all this since last April! Just need to see faster pace, some new orders, and we could get to 8-10m sales for 2006, a likely profit earlier than 2007 expected. Balance sheet also looks much stronger in most respects.

Anyone report back on EGM?