It's the market cap that needs to get to £3 billion not the t/o. Current t/o is circa £700 million p.a. and current market cap is £1.3 billion so if that sort of rating was to continue it could be that a t/o of £1.7 billion could suffice (I think the City now know that UW customers are arguably the most valuable in the industry). Of course this is conjecture and dependent on profitability levels being maintained/enhanced etc.
24 Nov '13
Just sat in on a conference call with CEO Andrew Lindsey MBE (Olympic Gold Medalist, for those of you who might not know - ie a VERY committed individual, but beyond that, a very astute businessman!) This is transformational news for the business. The company is now a directly licensed, stand-alone energy supplier alongside the 'Big 6', with a guaranteed 20 year energy supply, in a deal which increases profitability and therefore competitiveness in the market place. This is fantastic news for the business. When Andrew went to the city looking for £130m through new share issue he was astounded to be offered more than £300m. This amply demonstrates the level of confidence that the institutions are showing in TEP's unique business model. There is also an absolute commitment to take this business into to FTSE100 (Required T/O c.£3billion) in the shortest possible timeframe. (I have absolutely no idea how long, but several years) That is 3x current turnover, so what price the shares at that time? :-)
22 Nov '13
RE: What a finish
Forget last. When I managed to get off chasing my shares yesterday and bothered to check my email, it was all there from my LLoyds Online........
21 Nov '13
RE: What a finish
VanVan, any idea how to take up the share offer? Interesting how few posts on here considering the news - if this was an AIM stock there would have been about four hundred posts since yesterday!! :-)
21 Nov '13
Share split still doable?
I've always thought that £20 would be a trigger point for a share split and judging by today's gains on the back of yesterday's huge rise it's entirely possible that £20 will be breached shortly. But would this impact on the share placing/fundraising?
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