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Tanfield Share Chat (TAN)

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Share Price: 15.00Bid: 14.00Ask: 15.00Change: 0.00 (0.00%)No Movement on Tanfield
Spread: 1.00Spread as %: 7.14%Open: 14.00High: 15.00Low: 14.00Yesterday’s Close: 15.00


Share Discussion for Tanfield


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fourteenhundred
Posts: 4,022
Observation
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: 11,922
Premium Chat Member
Off Topic
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: 8,399
Off Topic
Opinion:No Opinion
Price:17.50
Director leaves
17 Nov '15
RNS out
knicol46
Posts: 8,399
Off Topic
Opinion:No Opinion
Price:17.00
RNS out
16 Nov '15
result of AGM
Harry111
Posts: 106
Observation
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
Off Topic
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: 8,399
Off Topic
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.
Harry111
Posts: 106
Observation
Opinion:No Opinion
Price:19.00
Tan
20 Oct '15
Is noone on this board anymore? From what I hear snorkel doing well etc this could double this year!
Harry111
Posts: 106
Off Topic
Opinion:Strong Buy
Price:19.00
Snorkel deal
15 Oct '15
How much is the Snorkel deal worth $100,000,000?
Harry111
Posts: 106
Off Topic
Opinion:No Opinion
Price:18.50
RNS Holdings
15 Oct '15
Not sure I'm right?




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