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Microcap & Penny Stocks : MC Shipping
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To: chalu2 who wrote (1)2/20/1999 4:11:00 AM
From: James Veteto   of 3
 
Their filings are something of a mystery to me also. 50% of the shares are held by Securitus Holding which in turn is own by the Valsov Group. Greysea also holds alot which I read somewhere is 25% owned by GE Capitial Management. Pimco mutual fund own 8% and Marc Perkins owns alot as well. What I'm trying to say is about 70% of the shares are closely held. Good or bad. The company recently bought all of the natural gas tanker business from Valsov and they have inturn leased them back to Valsov for three years. These lease fees are monthly and therefore will not go away until the lease is over in 2/2002. This purchase took the company from doing about 25 million a year to about 43 million in total revenue. All shipping stocks are down at the moment because of the depressed world economy. The three guys at the top have years of experience with Valsov group and I believe won't let the company fail. Good dividend with two more of the four payments left. As with any stock, do you homework before you invest.
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