Marco Polo Marine Ltd

[Shiyi]

The shares awarded are worth more than $2.5 million at today's market price.
Very generous indeed.

[¯|_(ツ)_/¯]

1. 100m shares is for 2nd and 3rd tranches, there was 50m shares issued for 1st tranche.
2. Other than Sean, there are also incentives for key personnel who will get from 10% up to 20% of operating EBITDA until 30 September 2022,  cap at S$10m.

extracted:
3. INCENTIVE PLAN FOR KEY MANAGEMENT PERSONNEL
3.1 The Investors have agreed that after completion of the Debt Restructuring Exercise, the
Company shall put in place an incentive plan, on terms reasonably acceptable to the Investors,
for the key management personnel of the Company on a profit-sharing basis.

3.4 Notwithstanding the aforesaid, the Incentive Plan shall expire on the earlier of (i) the 10th
Business Day from the issuance of the audited financial statements of the Issuer for financial
year ending 30 September 2022, or (ii) when the total aggregate of the amount payable and/or
to be paid as the Incentive Amount equals to S$10 million.
(click and scroll to Appendix C item 3)

Are you vested?



I'm going under and this time I fear there's no one to save me
This all or nothing really got a way of driving me crazy
I need somebody to heal
Somebody to know
Somebody to have
Somebody to hold
It's easy to say

Frankly speaking, Sean is the Someone who know how to heal Macro Polo Marine.
Settle?

=========== Signature ===========



感恩 

Thanks all valuebuddies for helping me in my investment journey.
I learn a lot from you.

[¯|_(ツ)_/¯]

MarcoPolo 1H2021 Result (The Company will release further updates on its business and operations on 18 May 2021)
Rev S$21m (vs 18m)
GP  S$5m  (vs 3m)
NP  S$5m  (vs -0.7m)

The outlook for the offshore marine industry remains challenging as the COVID-19 pandemic has adversely affected oil demand and oil and gas activities, resulting in a slowdown in our ship chartering and shipyard operations. However, there also are positive signs in recent times that such a downcast scenario appears to be gradually bottoming-up. In addition, the Group has seen opportunities in certain segments and we have taken steps to capitalise on them.

As an overall strategy, the Group will focus our collective efforts as we continue the journey of transition towards renewable energy sources as we get more involved in the renewable energy sector.

https://links.sgx.com/FileOpen/MPML-%20H...eID=666285

Gratitude.

[weijian]

MPM is a portfolio company of AGT Partners and was mentioned in their recent 2025 letter - been given much praise and returning at least a 2x in their current 3-4year holding period.

In the depths of the O&G crisis, MPM stayed afloat by raising new capital through EFR to private investors. On hindsight, that new capital provided a saving grace and and therefore even as share price has multiplied 4-5x compared to the issue price then, the "cost of equity" for MPM 2018 shareholders (who continued to stay on) were practically very low.

Fast forward to now, the balance sheet has been repaired and positive revaluations are returning after earlier "kitchen sinking" of PPE. Based on MPM's FY25 balance sheet (year end Sept 2025), it has ~42mil of debt (16% of equity), 52mil of cash, 25mil of working capital and 225mil of PPE. And now it is issuing new shares again to raise ~20.8mil net proceeds and I suppose it is "from a position of strength". The new share count is only ~3.8% of existing share count and so it is not alot. But will be interesting to see the "cost of equity" of this new share issuance when one looks back again in a few years time (especially so when the O&G cycle turns again )

PROPOSED PLACEMENT OF UP TO 144,865,920 NEW ORDINARY SHARES IN THE CAPITAL OF THE COMPANY AT A PLACEMENT PRICE OF S$0.145 PER PLACEMENT SHARE

The Company has decided to undertake the Proposed Placement: (a) for business expansion (including but not limited to the Group’s fleet expansion and fleet renewal); and (b) to broaden the Company’s shareholder base, which may in turn improve the trading liquidity of its shares. In view of the foregoing, the Directors are of the opinion that the Proposed Placement is beneficial for the Group

The estimated gross proceeds to be raised, assuming that all the Placement Shares are issued, would be approximately S$21,005,558. The estimated net proceeds from the Proposed Placement, after deducting estimated fees and expenses (including listing and application fees, the commission payable to the Placement Agent, professional fees and other miscellaneous expenses of approximately S$523,000), is approximately S$20,482,558 (the “Net Proceeds”).

https://links.sgx.com/FileOpen/MPML%20-%...eID=875826