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EXCLUSIVE: Ascent Resources ask shareholders for ability to raise funds


Tanfield Share Chat (TAN)



Share Price: 6.175Bid: 6.05Ask: 6.30Change: 0.00 (0.00%)No Movement on Tanfield
Spread: 0.25Spread as %: 4.13%Open: 6.175High: 0.00Low: 0.00Yesterday’s Close: 6.175


Share Discussion for Tanfield


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FattyR
Posts: 659
Opinion:No Opinion
Price:10.10
Ahern is calculating
25 Jun '18
he can get this for a song. The rns issued on 21 June confirms my suspicions that Ahern is in complete control and looks like he has been holding back snorkel (my personal view so I could be wrong)in order to buy it more cheaply. Why wait all this time before you spend money for growth. If I read correctly Tanfield investors will be bought out for a price based on its recent performance. The recent performance of Snorkle is due in part to business decisions made by its management with regards to investment and marketing. It’s management doesn’t seem to be fully independent from Ahern. Who ever structured this was mad. I’m glad I’m out of it and can see this becoming a battlefield for lawyers. About a year ago I rang up the snorkle outpost here in the U.K. just to get a feel for the company. I rang during the day and there was no answer, or answerphone so no callback. So I perused the website that was not impressive. The recent increase in spending will not bear fruit immediately but the cost will be part of the calculation for the price. Very clever.
 
fourteenhundred
Posts: 4,121
Opinion:No Opinion
Price:12.15
RNS
10 Apr '18
No surprise there then.
FattyR
Posts: 659
Opinion:No Opinion
Price:13.00
Yawn
26 Jan '18
I think our American friends want this on the cheep cheep
vauch
Posts: 1,502
Opinion:No Opinion
Price:13.375
Teslar
17 Nov '17
did Teslar purchase Smiths trucks co on the cheep
vauch
Posts: 1,502
Opinion:No Opinion
Price:16.25
kill the rise
21 Aug '17
Well that will kill the rise for now
fourteenhundred
Posts: 4,121
Opinion:No Opinion
Price:16.25
RNS
21 Aug '17
Snorkel update, more jam tomorrow!
falcons
Posts: 1
Opinion:No Opinion
Price:15.50
Zoar Inv
16 Aug '17
One of my original investments here from 2009 getting close to b/e (17.5p) but struggling to find any info on Zoar Inv.
Anyone any thoughts as to why Railton/Ocampo Ariza have doubled their holding(costing approx. 1.25m) in the past 12 months ??
Thx
FattyR
Posts: 659
Opinion:No Opinion
Price:15.50
News of large order in turkey
16 Aug '17
Wing-it
Posts: 325
Premium Chat Member
Opinion:No Opinion
Price:14.75
Don't think the ship
13 Jun '17
is sinking just another bloody long wait!
FattyR
Posts: 659
Opinion:No Opinion
Price:15.25
Is that it?!
1 Jun '17
On sales of $130 Million - a loss before depreciation of over $2M.
I would love to know what they are spending all that money on and what due diligence our Board of Directors is doing to make sure we are not being shafted.
FattyR
Posts: 659
Opinion:No Opinion
Price:16.00
Rats and sinking ship come to mind
31 May '17
Why - not much being done -I would like to have some decent information re sales margins profits - shouldn't the board be providing us shareholders with some of this and also some reassurances that everything is still above board. Mr Ahern could just be taking us all for a ride with his close business interests and lack of scrutiny.
Wing-it
Posts: 325
Premium Chat Member
Opinion:No Opinion
Price:13.75
RE: getting interesting
7 Feb '17
Snapped up by who?
jamesc7
Posts: 728
Opinion:No Opinion
Price:14.125
getting interesting
7 Feb '17
anyone else watching this now,

is tanfields 49 percent in snorkel about to get snapped up
fourteenhundred
Posts: 4,121
Opinion:No Opinion
Price:12.625
RNS interims
22 Sep '16
Released.
jamesc7
Posts: 728
Opinion:No Opinion
Price:12.625
Snorkel Tanfield
21 Sep '16
Is snorkel bidding for Tanfield and if so what price
fourteenhundred
Posts: 4,121
Opinion:No Opinion
Price:10.75
Rns
27 Jun '16
Results out and Smith valued at NOWT.
knicol46
Posts: 17,593
Opinion:No Opinion
Price:14.75
premium placing @ 14.5p
22 Feb '16
£400k raised @ 14.5p (premium to current price)

Snorkel International Holdings – As announced on 2 December 2015, based on information provided by Snorkel, Tanfield estimated that Snorkel sales in 2015 would be approximately 30% higher compared to 2014 as the business continues to progress year on year. The carrying value of the 49% holding and the preferred interest holding (Loan note) is $60.1 million as set out in the Company's interim accounts which, based on the current exchange rate, is around £41.5 million. This represents approximately 27 pence per share of the proposed enlarged issued share capital.

Smith Electric Vehicles - The carrying value of Smith in the interim balance sheet of the Company at 30 June 2015 was £4.8m, amounting to approximately 3.1 pence per share of the proposed enlarged issued share capital. The board of Tanfield is currently reviewing the position of the investment in Smith and its carrying value and will update shareholders in due course.
.
knicol46
Posts: 17,593
Opinion:No Opinion
Price:15.00
placing @ 14.5p..
17 Feb '16
Smith has informed Tanfield that it is still seeking to raise further funding that is required to implement its growth plan and that this funding may now take the form of convertible debt in place of the originally proposed Subscription Rights Offering . The carrying value of Smith in the interim balance sheet of the Company at 30 June 2015 was £4.8m, amounting to approximately 3.1 pence per share of the proposed enlarged issued share capital. The board of Tanfield is currently reviewing the position of the investment in Smith and its carrying value and will update shareholders in due course.
fourteenhundred
Posts: 4,121
Opinion:No Opinion
Price:15.75
Re RNS a snippet
2 Dec '15
the investment in Snorkel is well positioned to achieve a return to shareholders in the future.
GedW
Posts: 12,115
Premium Chat Member
Opinion:No Opinion
Price:15.75
Investment update
2 Dec '15
Investment Background

· Tanfield is a 49% shareholder in the equity of Snorkel, following the disposal of 51% of the Snorkel business in 2013.
· The carrying value of its 49% holding and its preferred interest holding (Loan note) is $60.1 million as set out in the Company's interim accounts which, based on today's exchange rate, is around £39.8 million. This represents approximately 26p per share.
· The trigger event for the initial realisation of the Snorkel investment occurs when the company has achieved an annualised trailing EBITDA of $25 million dollars in any 12 month period by 30 September 2018.

http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12605962.html
knicol46
Posts: 17,593
Opinion:No Opinion
Price:17.50
Director leaves
17 Nov '15
RNS out
knicol46
Posts: 17,593
Opinion:No Opinion
Price:17.00
RNS out
16 Nov '15
result of AGM
Harry111
Posts: 106
Opinion:No Opinion
Price:16.00
Tan
9 Nov '15
I agree Smith is probably worthless but Snorkel is quite the opposite with management taking shares instead of cash also the bigger investor upping there stake recently tells me where this is going. If you research the AWP sector you will see its booming and set to increase, Snorkel was always going to take a few years to turn around and I think the time for the deal to be met is close!
MammonApate
Posts: 3
Opinion:No Opinion
Price:18.00
Options
8 Nov '15
So the Tanfield board are short of cash to pay their salaries, just about the only cost this company has other than listing/broker fees now. How should they raise the money to pay themselves? By giving themselves discounted share options and turning their loans into discounted shares... same old story at Tanfield!

What is left for the real shareholders here...

around 5% of Smiths who have only just been saved from bankruptcy. This shareholding will be diluted more and more with no possible return to TAN shareholders. IMO This business has always been worthless and everyone knows it. Does anyone know if they are even building vehicles anymore?

the 49% shareholding in Snorkel. No real information available on this from what I can find out but the UK company posted a £5m loss for 2014 and the general announcements from their bigger/more efficient competitors seem to show a general contraction in sales of around 15-20% in Europe. Does anyone know what happens with regard to the Ahern option if Snorkel doesn't meet its $20m, or so, EBITDA target by 2018?
knicol46
Posts: 17,593
Opinion:No Opinion
Price:18.50
5p options taken up
3 Nov '15
Application has been made for the admission to AIM of 600,000 new ordinary shares of 5p each in the Company following the exercise of 200,000 options at 5p by Management Services Cambridge Limited, a Company wholly owned by Jon Pither, the Chairman of the Company and the exercise of 400,000 options at 5p by Penshaw Consultancy Limited, a Company wholly owned by Daryn Robinson, the Company Secretary.




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