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Clough sells Mermaid stock

CLOUGH has raised $5.4 million by selling its 11 per cent shareholding in Mermaid Marine to a group of financial institutions. The shareholding was no longer considered a strategic imperative by Clough management, Mermaid said in a statement. Mermaid added that vessel support contracts with oil and gas producers and its supply bases at Dampier, Broome and Darwin were now its core activities, reducing its traditional reliance on offshore contracting activities. Mermaid and Clough maintain a joint venture focused on shallow water pipelay projects on the North West Shelf “however there are no clear opportunities planned in the short term”.

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MMA Offshore (MRM)

Share Price

Closing price for the last 90 trading days
Source: Morningstar

BN30 Index

Index = 100 as of 4 Jan 2016
Source: Morningstar

Total Shareholder Return as at 29/03/18

1 year TSR5 year TSR
110thSchaffer Corporation93%28%
119thImdex82%-1%
159thLycopodium64%-1%
248thSouthern Cross Electrical Engineering35%-9%
364thMMA Offshore11%-39%
716 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

22/06/17
$16k Bought
11/11/15
$48k Bought
11/11/15
$304k Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

27th↓MMA Offshore$221.8m
28th↓Schaffer Corporation$215.0m
29th↑Lycopodium$215.0m
31st↓Southern Cross Electrical Engineering$200.2m
32nd↑Imdex$176.4m
236 listed industrial companies ranked by revenue.
Source: Morningstar

Remuneration from MMA Offshore

63rdJeff Weber$1,000k
164thDavid Ross$605k
371stDylan Darbyshire-Roberts$343k
Ranked by total remuneration from all listed WA companies

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