Will be interesting to see what accounts Snorkel UK file with Tanfield claiming the Snorkel valuation should be unchanged. If the Tanfield directors are telling the truth we should see a significant improvement in performance.
Does anyone know the answer to this question? if Mr Ahern is buying the product via Ahern what is to stop him from paying Snorkel under market value prices to ensure he makes the profit outside the Snorkel business and minimise the consideration payable to Tanfield? IMO - Based on past director performance - NOTHING!
IMO.. A dog losing a fortune teaming up with a dog losing a fortune - this will never be profitable, just look at how much Smiths have spent in the last 5 years with no return! Every vehicle Smith sells is at a loss so the business model isn't sustainable until mass volumes are manufactured, at which point you will see the large vehicle manufacturers enter the market and Smiths will disappear into a cloud of smoke. Lots of hot air but no real long term value! Current Smith shareholders trying to list on a US exchange for years so they can offload their holding. Would have already gone under but for US administration trying to save face on the back of their 'support' --- still, lets watch the losses being posted year on year and see what happens!
TAN seems to be finding support these days, presumably on the back of the SEV JV announcement and the prospect of SEV's IPO. Does anybody considerably cleverer than me have any idea how the JV and potential IPO affects the TAN balance sheet?
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