Viking Offshore: Announced purchase of 100% stake in Marshal Systems, a leading integrator of marine communication, fire and safety equipment and control and instrumentation systems for $17m as part of strategy to transform into a leading offshore and marine integrated services provider. Acquisition will be funded by $12m cash and $5m worth of Viking shares. For 6 mths ending, Marshal Systems recorded an operating profit of $3m, with gross profit margin of approximately 50%......
Proforma financial effects of the proposed acquisition would result in NTA/Share increasing by 27.1% to 13.6c/Share and an EPS of 3.1c/share, placing FY10 PE at 6.29x. Technically, current resistance at $0.205 and support at $0.19.
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