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Scrodingerscat Thanks
Correction now £3.6K what a dog this is.
Stokey12 yeah no problem click on the AGM download. My £3K loss is peanuts compared to some LTH's but always happy to help a fellow sharing some of the pain with this frustrating company.
https://www.tpgroupglobal.com/investors/results-and-presentations
Scrodingerscat In relation to your 11.02 post do you have a link to where on the website the Notice of AGM with the resolutions are.
I don't normally vote in AGM's but thinking about the change needed here I thought sitting and moaning about things doesn't help. So albeit only 85,000 shares I have sent my voting instructions to my broker to vote against resolution 3. (re-election of Cartmell). Let's hope Canaccord, Close Bros and M&G are as ****ed as the rest of us LTH's.
Stokey12 - thanks for note re Genkos - I see that following results, they've upped their 'Under Review' stance to Buy - based on price of 5.8p which was pre-results.
I find it very hard to justify their positiveness given they forecast as you rightly say negative outcomes right through to end 2022. I suppose at these low values any thing is possible with a bit of unexpected good news but there is the current poor cash position to take into account as well - another discounted placing coming ?
dactions In relation to your 07.50 post while this may be the case I do not think that the note from Cenkos will help much. They are not forecasting profit after tax until 2023 at the earliest. The forecast in the note only cover 2021 and 2022 but in both cases the PAT figure is negative.
There had been some recent bullish tips on the twitterfeed leading up to TPG results - fast selling out would have contributed to the sharp decline.
I, also, sold out at too big a loss but at yesterday it was at 5p - now today it would have been 4p. So that was £12,500 I received yesterday, instead of today I would only have received £10,000. But even if I've saved £2,500 - I have actually lost half of my original investment of£25,000 -ie £12,500.
But what makes it worse, it's been tied up in a sort of manana, manana investment - always tomorrow Cartmell was going to sort it. He promised us at the last placing of 6p (2017 ?) the funds were needed for planned acquisitions, but this was not entirely accurate as looking back, we can see that these never materialised for very many months and even years. Really, we now can see that these funds were used to support lack of cashflow.
Along the way, over the long years I've been invested, we saw the sp trickle down remorselessly and yet the BoD paid themselves handsomely and for what achievements ? Very little as far as I can see.
Yes, stockmarket investments are risky, we know that, but it's only with hindsight you can see that shareholders in this particular Company have counted for nothing in the BoDs eyes - there's never been any mark of appreciation from this Board towards its shareholders. And the current results announcement - ask yourself how many go to the lengths they did this week with page after page which were simply full of such lengthy and meaningless platitudes and aspirations. The Company was hemorrhaging cash long before the Pandemic so please don't insult our intelligence and blame the current situation on that.
One would like to assume that at this low level the sp should recover - I notice today sharep*****ts have recommended this as a buy but then they can come in at only 4p - there could be a bounce if they do a good sale of the Marine Engineering division. However, some have argued on this BB, why get rid of something that's always been profit-making ? To my mind this is now a 'fire sale' as with the Bank line totally drawn down, they now have to sell it to support the poor cashflow in the other businesses. Their new and extensive Consultants want their monthly pay cheques and more to the point senior management and particularly Cartmell want their hefty salaries and pension contributions.
I may be totally wrong on how this pans out - LTH though will have all lost big-time, whereas latecomers to the scene could still make a useful turn - as is often the way with AIM. I suppose if I saw it fall further, I might want to come back in and try my luck but I have to say that in my mind, with the present BoD, I don't believe they are capable of really making a success of this long term any more - so grab your profits where you can.
Good luck all
Yes as I said I was really thinking of selling last week, mainly doing a tidy up of my portfolio, I’m also at a to big a loss, so joining you in hoping for a miracle. Will take an interest in resolutions and will be voting (very little vote helps).
Morbox In relation to your 13.21 post there is normally resolutions to re-appoint directors if we can get support from the large shareholders then I would favour trying to vote down these resolutions. Also if there are resolutions around remuneration vote those down. These resolutions will probably pass unless we can also get II's to also vote them down. I have lost confidence but will take too much of a loss if I was to sell so I am just hoping for a miracle.
It seems this is one share where even patience won't be rewarded - that's a shame because its a great company with plenty on the go but for one reason or another profit doesn't seem to be a priority.
Still, we live and learn.
Yep, the AGM should have that resolution on it!
Time the CEO left the building , last 10 years not great except his salary
Sorry but not investing , love the marine business and that's on the market and now confirmed which is the crown of supporting TP Group.
Do not understand why the huge loss , really gutted
perhaps once ive the time read the full details
Evening gents am I correct in thinking a trading update is due next month ?