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Pointless or not, isn't it better to be told something than nothing at all? We would moan our ar/ses off if they totally ignored us, imo/
" when there is something meaningful to announce"
the Board is continuing to have discussions with Xtreme Manufacturing LLC in relation to the Company's investment in Snorkel International Holdings LLC and will provide a further update to the market when there is something meaningful to announce.
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.
No surprise there then.
I think our American friends want this on the cheep cheep
did Teslar purchase Smiths trucks co on the cheep
Well that will kill the rise for now
Snorkel update, more jam tomorrow!
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
www.khl.com/news/fatih-vinc-invests-in-35-snorkel-units/128596.article
is sinking just another bloody long wait!
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.
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.
Snapped up by who?
anyone else watching this now, is tanfields 49 percent in snorkel about to get snapped up
Released.
Is snorkel bidding for Tanfield and if so what price
Results out and Smith valued at NOWT.
£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. .
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.
the investment in Snorkel is well positioned to achieve a return to shareholders in the future.
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
RNS out
result of AGM
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!