Firm approves bond issuance to expand fleet The Punch
Published 13 July 2021 The shareholders of Global Spectrum Energy Services Plc have approved the issuance of a bond to finance the company’s expansion plans.
GSES, a firm operating in the midstream sub-sector of the oil and gas industry, supplies security vessels, platform supply vessels and others to independent oil companies in the Gulf of Guinea.
The company said during its recently completed 14th Annual General Meeting, its shareholders gave the nod to acquire fresh capital to expand its fleet of vessels.
According to a statement, the company has been previously funding its operations entirely with its revenues, prompting the move by the shareholders.
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