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Selling now at over 34p.........
Can sell at 32.5p.
Some times the devil is in the detail. Be happy that you can buy a valuable stock at a very discounted price. I say buy but it is continually going NT so they are like gold dust
So 30 millions win Q4 2023 is good start point and trading inline wirh management. That is for sure TPX will recover in this year.
I am pleased with the outcome, but that RNS is seriously lacking detail. After discussing it this week with SeaTank and noting the complexities around this, the RNS is so short, and frankly could have been released 1 week ago (around the time of these £60k buys I mentioned). I still hold.
Should now see this get back to a more sensible level.
not so sure, reading between the lines the waiver is conditional on them doing something about the mounting debt before the next covenant test
Good news to start the day. Happy Friday everyone. Let’s see where this takes share price. 50p today?
Further to the announcement made on 31 January 2023, the Group reports that it has been granted a waiver from the requirement to test each of the financial covenants applicable to its £30m revolving credit facility as of 31 March 2023. TPXimpact's lender is currently undertaking a review of the Group's short and medium term cash flow forecasts, the outcome of which will determine the nature and extent of future waivers. A further update will be provided when this review is concluded.
Current trading performance
The Board confirms trading in January and February 2023 was in line with management expectations. In addition, the momentum in new orders has continued in Q4 FY23, with new business wins of over £30m in the quarter.
I see further contracts awarded in March as well https://bidstats.uk/
Hopefully we get update regarding Covenants tomorrow and price rockets. Finger crossed. Income generating company with dividend distribution. 12 months high £2.10. Current price is 28p. Very bargain price.
Well we are due an update regarding the covenants and if positive I reckon this goes to at least 50p first stop
Couple of big buys in last hour, wonder if someone knows something?
Hopefully RNS lands tomorrow and multi bags from there. It's ridiculously low price.
Ok we are on the same page. Good luck.
You misread me. Yes the bank engagement started months ago, but waiver won't be given until the the budgeting and business plan for this coming year is agreed with them. The trading update this or next week requires the new budget too. So the bank waiver or other action will be agreed any time now or already has been, followed by the trading update. My point is, this all takes time and takes us to where we are today.
You maybe right, but I would have thought that discussion with the bank would conclude before the deadline.
All the facts are not going to change in the final week are they. I would of thought that they would be in discussions with the bank over February and March, agreeing what measures must be taken, because clearly the covenant will be breached. So it is managing the response from the bank IMO.
I think the bank will either want some equity, in which case we may see a raise (not a disaster IMO).
(Perhaps founders can offer some security, since they have done so well from TPX share price.)
They might re-negotiate the loan terms, with higher fees whilst out of covenant.
I cant see TPX getting off scot free, banks exist to make money.
Perhaps the agreements have been made, and the bank are considered a related party / inside information. The TU can come out end of the month as you say, but I really dont think that discussion are not well advanced with the bank already. There were about 60k of buys Friday. Someone knows something.
Im in and waiting.
Hi Dartron, the budgeting exercise and updated business plan for the year to end March 2024 began in February and will have completed very recently with the intention to 1. provide a trading update and outlook statement to the market at year end 2023 (i.e. now) and 2. present their case regarding waiver of their banking covenants to HSBC, which are only broken as at the end March 2023 as per the covenant terms. This is how I see it. It has been in their interest to take their time on this delicate work (i.e. right up to end March) to present the strongest case to HSBC and update the market with maximum visibility possible. That is why this has taken a long time. I don't believe there is any funny business. I expect the CEO and CFO will present a strong case to HSBC (around now) and receive a positive response. That's my analysis of the situation and hope regarding outcome. The waiver isn't the only outcome required; the business must show the market a plan for returning EBITDA margin back to >12%.
Time2Buy
Hello there
Banking covenants should be updated by end of this week I guess. Double from this price is imminent once Covenant is sorted.
Hopefully starting now the traders are out. Banking covenants sorted = Bagger
I am a little disappointed that insiders are getting the chance to buy. No reason to hold off news, and leave it to last minute.
Just lowers the tone a little.
Trading update and waiver of covenant imminent, IMO
Also more contact wins shown on Bidstats
Some one start to buy big number now. Never seen buy this foe weeks but today it start pop up .it seem to get more confident now .