Roundtable Discussion; The Future of Mineral Sands. 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.
SAG definitely doesn’t like losing, they have played a clever game and taken out TPG for a fraction of their value. Sneaky stuff .
I saw today’s RNS suspending the shares pending an announcement. I am assuming the Science Group will acquire the shares at the low price of slightly above 2p. Many of us recognised the sp was only going one way after the heated discussions around 6p and in my case wrote that I was selling out in the market at 5.5p rather than wait any longer.
I incurred losses having held from the Corac days but even I didn’t see that the Science Group would “massage” the news output so incredibly well that even the long term Institutional shareholders would accept the current low sp.
I’m sorry for my fellow LTHs who have incurred an even worse financial outcome than me. What I take from this though is that the Science Group are an organisation to watch for the future - clever and a share to watch.
Looks like it's a done deal then and if you still own the stock as I do, expect 2.2p payment per share on 9th Feb.
Or is it best to sell and move on with ones life ...
TheTrotsky, we were never offered 6.5p a share
It was an indicative offer.
I'm just pointing out that this is how SAG operate. They are tough hombres and once they make an offer they don't budge on price and are quite happy to buy more in the market until they can force a vote. They pulled a similar move on Frontier Smart Technologies (a company I had shares in) years ago and we were powerless to stop them because FST didn't have the cash. Subsequently SAG more than doubled their money at our expense. I don't know the particulars of TPG but once SAG have their claws into you they are very tough to shake. They are very hard negotiators who absolutely refuse to overpay and are quite happy to walk away and bide their time. I'm not a fan of SAG but I do grudgingly respect them; they probably don't get the recognition they deserve. I wish you all luck but do not expect SAG to raise their offer price. At the moment they've got TPG over a barrel and, unless something materially changes in the next 6-9 months, it would appear that a fund raise will be the only recourse left to TPG.
There's clearly some potential value in TPG (SAG would not be wasting their time otherwise) but SAG will not do existing PIs any favours if it comes to an equity fund riase. It's brutal but frank. If you think that TPG can turn around its current travails in the next 6-9 months without financial support from HSBC and SAG beyond September 2023 then rebut the offer but if not then it's only likely to get worse from here on out. SAG will keep TPG alive but although they won't necessarily hinder TPG's existing activities they won't necessarily help them either. The termination of parent company guarantees (such guarantees are usually always best avoided), albeit proper and correct, being a case in point - termination of the guarantees will reduce TPG's prospects of renewing the contracts but SAG would rather risk losing the contracts than risk their investment.
nm
Also fair to point out the BoD... You mean the one with 2 SAG directors sat on it, one of which is the CEO for both companies. Best deal obviously for them yes, are you on a windup? I wouldn't take our CEO's advice even if it was that or a choice between his advice or swimming with Sharks. SAG have done exactly what they did in their previous agressive takeover, posters claimed they wouldn't they have and that's now for the record. I just hope shareholders don't capitulate here, SAG will have to pay or actually stick to that fantasy RNS nonsense about this being a strategic investment. The BoD clearly thinks everyone is stupid here or desperate to sell. If you are desperate to sell just do so now and let the rest of us try at least to resist these vultures. They won't unwind here out of spite or anything else even if they sell now they've lost 6 million and have actually done what the previous board could not and started clearing out the deadwood. TPG is actually in a better position compared to last year the SP is not reflective of the current NAV and I would be very surprised if no analysts where currently looking at what that is likely to be come year end. Notice conveniently on a business update could have given an update on the last quarter and that was left off. Erm yeah 2.25p is a fair offer but we don't want you to know how the business is actually currently performing. Grubby and everything wrong with the stock market, I will make a complaint to the FCA as this is really rotten if allowed. A minority shareholder holding the rest of us to ransom is outrageous and a bad precedent for AIM.
don't believe for one moment that the BoD would think this is the best deal unless there was a benefit to them. either there are positions for them in Science or they're complete fukkuppery artists.
the world and this company just haven't changed that much in a year. 6.5p was cheap as it was... only danger is if Scinece pull out or start selling their shares as leverage.
I can and will reject as is my right, if I was going to sell I'd just sell now 0.25p less is meaningless. SAG are getting a £50M+ revenue business for £25M they can see the benefits of buying our shares shame a lot of our own investors do not. Maritime will be back to better health in a couple of years and services is profitable. Why accept the first offer which anyway you look at it is an insult. SAG are already invested up to £12M they are not going to be able to pull the plug without losing that investment. They need 75% to vote for this offer they currently have 29% all to play for and easily a rival bidder can emerge. Stand firm or sell up now those are your options.
That was then and this is now. TP Grp's financial position has not improved and we're now facing economic headwinds. The Science Group is very canny at picking up distressed companies on the cheap. They do not haggle; the price is the price, like it or leave it. You've already rebuffed an offer 6.25p a year ago. Can you afford to rebuff this new offer now? The BoD thinks not.
they can eff right off with that one!
truly a shiiiitty deal.
Fatmooch where are you? Get the jar out... I told you so. SAG have acted exactly as expected, which for the record is disgusting, the narrative that only they were able to renegotiate contacts is for the birds and now that issue is pretty much resolved they want to benefit minus the rest of us, a liquidity injection does not make the group insolvent. Value destruction 101 1. Create a boogeyman 2. Go radio silent 3. Make grubby deals with II shareholders in the background. SAG have destroyed the share price here all for gain, it's clear they wanted to aquire the group at the cheapest they could, £17M for a company that will likely have revenues of £50M or just under this year and a gross profit... Get tae **** Martin. Don't vote for this grubby deal SAG need to pay or stay, they've invested too much to walk away they will lose a lot if they sold their own holding at 2.25p so why should we.
probably the worst performing share i own (that didn't just fail completely). anyone would think 2.25 was a cause for celebration!
Perhaps ChrisJones is someone looking to drive the stock down last week knowing an offer would be made today. I'm glad I topped up on TPG last week believing that the services division still offere dvalue and now stand to almost break even on today's 2.25p.
I've been with this since Corac over 12 years ago. It's been emotional. I'm glad to get 2.25p and to get out.
I already did fortunately over 1p, shame it was in profit at 1.5, always keeping a lookout though for a reopportunity, mindful of someone saying there might be a trading update due early Nov tho, share falling in advance looks like a red flag
To be fair, I did warn you to sell when the price was £1.35. Now, just a short while later it’s just £0.60. It’s going to get worse, believe.
feels like a background seller here, Science Group ?
Alas Smith and Jones!
Yes. One of many.
you sound like a disgruntled ex employee
As someone who works at TP Group, I recommend you cut your losses and sell. The culture there is broken. Morale is at an all time low, there’s difficulty recruiting for critical roles, the problems are deeper than you think.
Horrendous. Impacting results for this and next year. Will require resuscitation from Group to continue. Hard to believe. Surprised sp not sunk no pun intended.