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Pin to quick picksTanfield Share News (TAN)

Share Price Information for Tanfield (TAN)

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Share Price: 3.76
Bid: 3.60
Ask: 3.92
Change: 0.00 (0.00%)
Spread: 0.32 (8.889%)
Open: 3.76
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Tanfield raises funds so it can meet increased demand

Mon, 13th Feb 2012 09:34

Aerial work platforms maker Tanfield has raised funds through a placing to remove bottlenecks in its supply chain and to speed its expected return to profitability.The company has conditionally raised £12m through the issue of 29.3m shares at 41p each, 4.875p below the mid-market closing price on the day before the fund raising was announced.The company said that global demand for aerial work platforms is rapidly returning as the major fleet operators get around to replacing ageing equipment. In this new environment, pricing has improved and the firm's margins have increased.That's the good news. The bad news is that the company is having difficulty meeting this demand, as the supply chain has not yet recovered sufficiently to cope with the upturn, so the company is having to compete hard to get preferential treatment from suppliers, and in this regard constrained working capital has proved a hindrance, hence the decision to raise fresh funds.Shorter supplier lead times will allow the company to take advantage of rising customer order books. The Tanfield directors currently estimate that the company would break even at an operating profit level on annual revenues of around £90m.The new shares issued represent around 30.9% of the existing issued ordinary share capital of the company, so it is quite a chunky issue. The 10.1% discount of the placing price to the previous trading's day's mid-market closing price was a factor in the shares dipping just over 4% (1.875p) to 44p in early trading after the announcement.jh
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24 Aug 2020 11:42

Tanfield Reports Widened Loss In First Half Of 2020

Tanfield Reports Widened Loss In First Half Of 2020

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10 Jul 2020 18:16

IN BRIEF: Tanfield's Snorkel Joint Venture Takes Covid-19 Hit

IN BRIEF: Tanfield's Snorkel Joint Venture Takes Covid-19 Hit

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10 Jul 2020 09:17

Tanfield investment Snorkel sees sales plunge amid pandemic

(Sharecast News) - Tanfield updated the market on its investment in aerial work platform company Snorkel International Holdings on Friday, reporting that its sales in the fourth quarter of 2019 were $51.3m (£40.76m) - up 7.4% year-on-year.

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21 May 2020 07:34

Tanfield Reassessing Funding Needs As Snorkel Proceedings Continue

Tanfield Reassessing Funding Needs As Snorkel Proceedings Continue

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24 Apr 2020 17:23

Tanfield Slims Loss Amid No Biting Impairments; Expects Snorkel Growth

Tanfield Slims Loss Amid No Biting Impairments; Expects Snorkel Growth

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3 Apr 2020 14:38

Tanfield US Litigation Case Continues But Scores Victory

Tanfield US Litigation Case Continues But Scores Victory

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30 Mar 2020 18:16

Tanfield Group Secures Shareholder Loan To Continue Legal Battle

Tanfield Group Secures Shareholder Loan To Continue Legal Battle

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12 Nov 2019 12:44

Tanfield Says Investee Snorkel Posts Sales Rise As Legal Dispute Rages

Tanfield Says Investee Snorkel Posts Sales Rise As Legal Dispute Rages

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24 Oct 2019 18:30

Tanfield To "Vigorously" Defend Its Position Against Claims

Tanfield To "Vigorously" Defend Its Position Against Claims

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22 Oct 2019 16:23

Snorkel And SKL File Summons And Complaint Against Tanfield

Snorkel And SKL File Summons And Complaint Against Tanfield

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21 Aug 2019 08:59

Tanfield Group's operating loss grows amid joint-venture dispute

(Sharecast News) - Tanfield Group shares dropped on Wednesday as its interim operating loss deepened due to legal costs relating to the company's interest in Snorkel International Holdings.

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12 Jul 2019 16:03

UK Shareholder Meetings Calendar - Next 7 Days

Monday 15 JulyJPMorgan European Investment TrustStaffline Group (re issue of new shares)Tuesday

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13 Jun 2019 13:34

Tanfield Loss Heavily Widened By GBP17 Million Snorkel Impairment

(Alliance News) - Tanfield Group PLC on Thursday said its loss multiplied in 2018 due to a substantial impairment on its investment in Snorkel International Holdings LLC.Tanfield's loss

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31 May 2019 11:58

Tanfield Raises GBP225,000 Via Share Placing To Cover Ongoing Expenses (ALLISS)

LONDON (Alliance News) - Tanfield Group PLC on Friday said it has raised GBP225,000 through a share placing to meet the ongoing running costs of the company.The electric vehicle company 4.5

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24 Apr 2018 13:37

Tanfield 2017 Loss Narrows On Income Rise And Lower Operating Costs

LONDON (Alliance News) - Investment firm Tanfield Group PLC said Tuesday its 2017 loss narrowed amid a rise in income and a fall in costs, as its continues to monitor its two investments.In

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