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I must have touched a soft spot Scrodingerscat! Cannot wait for what the FCA says to you. Do let us know! And just because I have not been registered here for long is a sign of what? A closed mindset !!!
If the boot were on the other foot - TPG were successful and SAG had hit rock bottom, but mainly due to the poor performance of the BoD, TPG holders would be saying "well, that's business - take 'em over, and in the interests of TPG shareholders, pay as little as possible to maximise revenue and future returns for us all"
That's they way the market works.
Statements like "whomever is selling to them is no friend of ours" - there has to be sellers and buyers to make a market. Somebody sold shares, somebody bought. Nobody made anyone sell shares, nor buy them. I try not to attach emotion to buyers or seller, they are neither my friends, nor my enemies.
And yes, after many many years, 6.5p is my exit cue.
TPG is now a consultancy - check out the circular - all talk is of consultancy. Not for me
Lasvelas you are an idiot and your opinion is not aligned with my interests. Just sell your shares heck il buy them off you if you like. You were desperate for a sale so obviously were prepared to accept any skullduggery from SAG. You do not attempt to slander your takeover target because let's be honest they only did it for the soul reason to manipulate shareholders into selling. Plenty of takeovers happen the world over and have for hundreds of years without this level of public nastiness no question an attempt to manipulate, this has been nasty from the start. I have raised my concerns with the FCA and will let them decide whether everything has been above board, not someone who only first posted here 5 minutes ago and claims to have held only for 12 months. Sell your shares you don't want to be invested here that's clear, let someone who does buy them off you. Turkey voting for Christmas.
SAG is doing what they are allowed to do. TPG share price have gone nowhere. Directors down own the company anyway, they are all scared to loose their job and now they are trying show they care and deliver on results. Too little, too late. I will vote with SAG. These boards for anyone to make a comment and express their views. Clearly Scrodingerscat prefers to live in communism.
I did some reading on that takeover after the RNS and they deployed similar tactics. They are still buying on weakness, whomever is selling to them is no friend of ours, SAG have used every dirty tactic they have. Yet people on here and the other board applaud them for it, our weak holders have helped them no end. I've decided to accumulate more shares too so I can maximise my vote but I will be voting with TPG, I honestly can't think why anybody would vote with SAG as your effectively voting for your shares to go cheaply in 6 - 12 months, the liquidity point has passed, results are next week.
SO THEY SAY 26.86% BUT APPARENTLY ONLY 24.03% OF THE VOTING RIGHTS! HOW COME?
SAG holding now 26.86%
Worth reading all the RNS's from SAG in the takeover of Frontier.
Personally I'd rather pay TPG board members to look after TPG's interests, not SAG'S interests.
I'll be voting against.
Yup, see that 1m!! Who / what's you're thoughts?
18 mill there!!!!!!!!!!!
SAG have raised £18.5m - or will have by Friday, at a premium to their share price.
dactions ref 12.33 post I have just read the circular and it has almost managed to convince me to vote for the motions. The strategy does not appear to be more than to focus on the consultancy side of the business. Very little information is given about the non consultancy part of the company other than they will be managed. There is no information about the cost cutting strategy except it will save £1m not sure how. Overall not impressed by the attempt at persuasion.
I agree Stokey12 - as for me, I really don't know what to make of TPG - I was right in the past that they were hopeless under Cartmell - and I was right to see a bid coming although I thought it would be 6p - but for all that I don't have a clue what to expect next week ?
I wonder which people would prefer; an aggressive, pro-active BoD, like SAG's who have more than doubled their Company share price in the last three years or one like TPG's who have managed about a 16% decline in the same period. I would prefer that TPG remains stand alone and managed that same feat, if not better, but is that a real possibility?
This mornings RNS plenty of important stuff in there but important here: "Furthermore, the Board confirms that:
· in response to Science Group's continued reference to the going concern position of the Company, the Company's adjusted EBITDA and cash are tracking in line with 2021 market expectations, being adjusted EBITDA of £4.2 million and cash of £4.6 million which provides sufficient liquidity and bank covenant compliance throughout the period;
· unaudited revenue for the six months ended 30 June 2021 increased 22.7 per cent. year on year to c. £33.8 million (2020 H1: c. £27.5 million); and
· under the Company's new CEO, the Company has commenced a significant central cost reduction programme. These cost savings are not expected to adversely impact operational execution and will, improve the current 2022 adjusted EBITDA market expectation of £5.1 million by £1.0 million to £ 6.1 million."
I have read today's RNS with interest and note the last sentence which to an extent undermines it's argument that TPG has a bright future. I will read the strategy with care. I am currently minded to give the Board an opportunity to prove that they can deliver either capital or income growth. However, they have not so far inspired me with confidence.
A lot now rides on the September 14th announcement - dismal figures and the sp falls but Science group in the meantime picks up the remaining 5% shares bringing it to 29.9%. Unless there is another bidder, I can't see, short of spectacular and believable figures are announced, that shareholders will see much in the way of sp growth for some time.
Boom! Brilliant update from SAG. In your face TPG!
Apart house broker, nobody is forecasting TPG to make a profit in the next 3 years. There is no PE, just a warning about going concern.
I remain deeply unhappy with how the TPG bod have behaved during the SAG saga. For that reason my heart tells me To support a motion from SAG.
But as to the 6.5p “fair value”…… I’ve been crunching some numbers. Right now it’s a £42m cap. Cenkos predicted in June 21 (under cartmell’s leadership) profit of £4.2m rising to £5.1 for 2022.
Have a think about that. A PE of 10 dropping to 8 next year in what is an attractive fast growing and (literally) defensive sector!!!!!!!!!!
No wonder SAG want TPG at that price! Assuming the (as yet) unshared “extensive plans” in an RNS from TPG announced that they’d drive cost savings and increase revenue are **NOT** factored into Cenkos’ analysis. And to be fair the new CEO seems more credible than Cartmell.
However this goes For SAG it’s a win win - if TP succeed their 24% stake will rise in value and if they don’t they get to pick this up at a snip and weave their magic.
The 14th sep update should give a clue as to which way it’s going…..
I think this was a a strategic pull out to scare the big holders and pressure them to sell to SAG in advance of the timeline running out. I think there is still a (small) remote chance that an offer could be made next week. Who knows the take over rules? Is it 6 or 12 months the period of time in which they cannot make another offer?
Stokey12, that's the backdoor method. Get Directors on the Board and they will do the 'due diligence' irrespective of whether or not TPG like it. If SAG then start selling off I'll be getting out quick. Hopefully, another suitor will emerge and force a bidding war but, as we know, nothing's simple with this lot. I still believe the existing IIs are holding out as they know that their investment is safe and going to bring home the bacon. Will Maritime still get sold off?
dactions ref 14.48 post unless somebody else makes an offer in which case they may make a counter offer SAG will not be able to make another attempt for around 6 - 12 months. If they get over 25% they can block a special resolution. Also I suspect that they havve the votes to have the two directors voted on to the Board at the EGM.
What's likely to happen now ?
Pre. the initial notice of the Science Group interest 3 weeks ago, the shares were around 4.6p and pre. the Phil Cartmell departure, they were even worse at 3.6p. If Science group really do sit on the sidelines, then I would expect a fall back to around 4p but surely, they'll want to pick up another 5% bringing them up to the 29.9% limit given the hit the sp is taking right now.
On past performance, I can't see the interim results to be published 14th September to be anything other than dismal which will keep the sp down but if there really is some good stuff announced, then the sp could really rise beyond the 6.5p offer level even if it's only a temporary spike.
You've got to love the politics of it all though. I don't hold out much hope for TPG Directors though if they are unable to deliver a suitable MCap performance to prove SAG wrong.