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Neptune acquire $30m support vessel

Perth based engineering services company, Neptune Marine Services Ltd, has acquired a $31.3 million sea vessel, the Nor Sea.
The Nor Sea is a specialist anchor handling, towing and supply vessel that can accommodate up to 42 passengers.
The purchase is conditional upon Neptune raising funds to complete the purchase within 90 days, with delivery expected shortly after finance has been obtained.
Neptune managing director and CEO, Christian Lange said that the vessel will be used for survey and light construction support works throughout Australasia, while improving delivery of the company's integrated services.
"The vessel is also an intrinsic component in the progression of Neptune's business strategy of acquiring assets, technologies and expertise that seamlessly add value to our unique integrated subsea services model," Mr Lange said.
Full announcement below:

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 31/01/18

1 year TSR5 year TSR
449thTempo Australia0%22%
478thJoyce Corporation-1%40%
630thNeptune Marine Services-29%-4%
810thKresta Holdings-76%-25%
709 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

07/09/17
$2k Issued
07/09/17
$0 Issued
13/09/16
$59k Sold
Total value as at the date of the transaction
Source: Morningstar

Revenue

40th↓Quintis$97.4m
41st↑Kresta Holdings$87.8m
42nd↓Neptune Marine Services$82.6m
43rd↑Tempo Australia$81.4m
44th↑Joyce Corporation$81.1m
234 listed industrial companies ranked by revenue.
Source: Morningstar

Remuneration from Neptune Marine Services

124thRobin King$721k
240thVincent Allegre$506k
865thBoon Wee Kuah$140k
Ranked by total remuneration from all listed WA companies

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