Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
We've said before that private investors don't usually get a chance to get in at this stage - this is a start up so could fail completely, but it could also be the next Tesla/Apple/Insert other company here! I'm hopeful that the offer will actually happen, and I think it is just possible that the price might exceed the offer price as PI's take the last chance to buy in. News one way or the other will hopefully be forthcoming this week.
Thanks Occam. I get the company benefits of not being listed but suspect that they will be more to do with corporate flexibility than reporting obligations. However you are right on this. I'm still interested in what everyone thinks about being essentially a small private investor in private companies.
In many ways it will still not be a small company if it needs $100M just to get to proof of concept. Anyone investing that much is going to want some certainty on future benefits and rewards. So does that suggest that my small parallel investment is still both secure and potentially profitable?
Allowing "emerging markets to participate on a level playing field" has always been at the forefront of TNT's objectives.
When I read about recent collaborations between serious players that address part of these problems I cannot fail to think TNT have lost a lot of ground and may even have missed the boat.
Still holding but my optimism is waning.
Hope not but hey ho.
GLA
AndyH81 - "I could be wrong there but the fact you can buy as many as you want for under £1 tells you that."
It wouldn't be under £1 for long at the quantity required for 29.9% of the company. In fact the average would probably be much higher, due to the quantity of available shares.
RE "What am I missing here". Well, a question... where are they getting £100m from?
The company seems to have been constructed on a business plan of "fake it till you make it" and unfortunately they have not made it in time.
The 150p "possible" offer is just a weird charade, nobody will actually be getting that money. I could be wrong there but the fact you can buy as many as you want for under £1 tells you that. The market is not always spot on but I have never known it to be this wrong.
Thanks Nelson. As you say the trickiest part of this for me is the lack of an exit route. However, anyone prepared to buy stock at £1.50 despite knowing that £100M is needed just to get to 'proof of concept' must surely feel that there is huge potential here
I accept that capital may be tied up for a good while but what am I missing here?
Fwiw, example of recent bid for another company timeline for a company called Fire Angel (FA.)
LRB must be really close now (3 weeks so far since Tender Offer RNS) and looking at the above 4 weeks delivery so next week for new?
Date Source Headline
24th Nov 2023 7:00 am RNS Acceptance Level Announcement
2nd Nov 2023 6:10 pm RNS POSTING OF OFFER DOCUMENT
27th Oct 2023 7:00 am RNS Rule 2.7 Announcement
You may or may not know, that LRB 35 only own around 7% of TNT shares and there is less than 30% free float available in the market so the chances of you being able to take up the tender offer must be high. Hope this helps.
No advice intended, door.
Obnc
Main risk of this share for me has always been dilution. Moreso in a private company as you dont have that obvious route to market to sell to bail out.
I dithered about buying here as it was open that the new funding was coming and that would dilute - but the assets /prospects wood me.
My main private company concern is I dont have an exit and in the meantime they can reduce my holding by having funding rounds to which I am not invited - but to be fair I was worried about this pre privatisation.
Personally I will sell but I am holding out to see if I can get a better price or something else happens - 150p and I would take it gladly at present - but others target is clearly lower and they are clearing off sub £1 out of impatience and uncertainty of any offer.
The benefits to the management of the company are that they can save money on the legal requirements and obligations of a public listing, and devote their attention and other resources to building the business. They have said it will take $100 mill in funding and 5 years to get proof of concept system running. The disadvantage of an individual holding a few shares is that there is no obligation by the management to say how things are going, and no market for the individual to find a buyer at a fair price. A shareholder becomes a private investor in the company. Everyone makes their own decision, but maybe selling now creates value for an individual to harvest the loss and reduce a gain taken on another position that worked out.
Given the serious prospect of being left holding 'unlisted shares' It would be useful to gather general views on what people see as the benefits / disbenefits of this
/discuss
It is odd I grant you.
The monies involved in getting to 29.9% are not significant so unless the potential funder of the Tender Offer has got cold feet it's difficult to see it not going through.
More likely is the case that the Takeover Panel are moving at a snails pace in giving the green light and/or the finalisation of necessary documentation required to proceed is taking some time to complete.
Happy to proven otherwise of course but this is out of TNT's hands so it's highly unlikely the BoD at TNT are causing any hold ups.
The real unkown for me remains the CLIN situation and that might be unresolved?
If they were loading up themselves they would have to declare the purchases in an RNS as they are still under the offer rules.
There is risk this may not happen hence the reduced price. If you are certain that the offer will come then you should be buying more, remotgage your house, tell your friends to purchase, buy buy buy....
The fact this hasn't happened tells me that it's not yet a done deal and there is still some significant uncertainty.
Volumes don't show any significant buys at all since RNs. No way they can get 29.9% target in open market.
The issue (I suspect) in many peoples mind is that the offer is to end up with a given percentage - currently it's possible to buy shares BELOW the tender price, so maybe they are loading up at bargain prices - meaning that any holders when the offer is made will find there is no offer in place, and holders are then "stuck" in an unlisted share. Which may not be what everyone wants.
Great first post Andy thanks for sharing your concerns with the BB….🙄
Its the same people who wanted to buy the whole company and after receiving feedback from TNT plc and their major shareholders agreed to go down the 29.9% tender off route instead.
Are you thinking it's all BS? Markets suggest it could be.
Irrelevant what they say about accepting the 150p, the question is will the offer ever actually be offered! It is a "possible offer" at the moment. If you want to see what a real offer looks like check out hotel chocolate in the past few weeks.
The situation here is... well it is a shambles isn't it.
It's a done deal imo
Major shareholders, company bod have given it their blessing publicly
Don’t understand why the share price is falling unless the deal at £1.50 does not go ahead.
Tender Offer £1.50 due any day
50% off if you buy today
£1.50 for these shares coming to a broker near you soon.
SteamyWee - that update was the first of the two RNS's . I'm keeping my fingers crossed that the second one (which didn't have the November timescale) was additional to, rather than instead of, the first one - whilst I still believe in the company, I'd rather liquidate my assets and move on now.
This is the update I received from AJ Bell on 13th.
"Further to our previous communication, LRB 35 Limited has announced that it now intends to purchase up to 29.9% of the shares it does not currently own in Tintra Plc through a tender offer. This will give you the choice to sell, or tender, your shares at a fixed price with no dealing charges.
Under the proposed terms of the offer, you will be given the choice to tender your shares to LRB 35 Limited at a price of GBP1.50 in exchange for each share held. If you choose to tender your shares your election may be subject to scaling back.
To view the announcement in full, please copy and paste the following link into your web browser:
https://www.londonstockexchange.com/news-article/TNT/tender-offer-replaces-possible-offer-aim-delist/16196547
With the capital raised from the tender offer, Tintra Plc will propose to become a private company and delist from AIM. The delisting will be subject to a meeting approval in due course and is expected to become effective in November 2023.
There is no certainty at this stage an offer will be made. Should the offer become official, a separate event will be created to allow you to input your elections, subject to any applicable restrictions.
Please copy and paste the below FAQ link into your web browser for more information on corporate actions:
https://www.ajbell.co.uk/sites/ajbell.co.uk/files/AJB_Corporate_action_FAQs.pdf
IMPORTANT NOTE - If you have any questions or queries regarding this event, please send us a secure message and ensure you quote the following in the Subject field: CORPORATE ACTION - Tintra Plc - 9813109
Updated: 13/11/2023"