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I would expect a complete news lockdown as negotiations reach a crucial stage.....that's where I assume we are currently placed. News should certainly come out in short order as finals are also scheduled for May. Interesting pivot point ???

The 100ks are all buys not sells

Loads of 100k buys hitting now, ...could this be the hint of a leak I predicted and sale of maritime?? Hard to keep a hermetic lid on progress here given the interest. Could signal a big upswing.

Here's my reasoning - for what it's worth.
Phil Cartmel hits his 70th birthday soon.
He has amassed an excellent group of complimentary companies in Sapienza, Osprey, Polaris, Westek, ALS and FSS. He has rationalized and sold the loss making heavy engineering division and is now negotiating the potential sale of maritime (+?). He was only able to acquire the 5 complementary businesses above as a direct result of being afforded access by the high-level security intrinsically linked to maritime. If you Google TG maritime it will give you a brief synopsis of the proposed 'up for grabs'. Maritime, despite its earnings stream is now more valuable sold than in house imo to inject more cash which can be deployed elsewhere for higher margins. It seems a pivotal and transitional opportunity for the major shareholders to invite change and see the real value of the company reflected in it's share price. We shall see, but the focus is there this year.

M&G hold almost 20%, Canaccord 12%, Close Bros 11% and Ruffer and HL together 15% ..... collectively that is 58%. They, believe me, will want a rapid re-evaluation and indication of progress here. Would they sell out? At what 'substantial' premium as they are all in at higher that current MCap. Expect a showdown soon yep, hence my 'happy to buy at this level' stance. One way or another it will move TP forward in short order imo.

Difference being that TP maritime contracts are vital safety critical contracts concerning H&S atmosphere control in a closed manned environment. The contracts in the UK, EU and Australia are solid commissioning and refurb ones paid by government so are very lucrative. Overseas markets are opening to new orders also. There are, I am sure, tier 1 and tier 2 contractors looking for a stable earnings stream for which they will pay TP a premium. Time will tell. If the price isn't right, walk away and keep it yourself.

At the moment we're on a seesaw....low volume buy/sell balance. Results are due this month PLUS TP are four months into the necessary due diligence needed for the sale of HMG defence related maritime division. Any sniff of an impending resolution will inevitably increase interest and buying as it will be impossible to keep a hermetic lid on it. Total NAV here is conservatively just under 5p... upside ????

Certainly did Dinoken! The heavy engineering division centred around Dukinfield in Manchester and was upgraded on the prospects of its strong oil and gas and nuclear relationships. The subsequent unforseen collapse of its markets required radical action, simply keep or divest. I agree with the decision of management. You only have to look at specialists in the field eg PRES to see the ongoing erosion. Better to lose a £3m pa drain on your bottom line and focus on the growth areas. Let's see what TP can squeeze out of maritime.......keep or hold? My cigarette packet sum-of-the-parts projections plus and order book at 1.5x current MCap puts the value at almost double today's so I'm happy to hold and tuck more away. Plus it wouldn't surprise me if Phil Cartmel played out his swan song and took £120m for the whole outfit. Time and patience from this derisory level should see a nice 100% profit. Interesting time without a big downside risk as it's supported by cash and assets now.

You have to look at just how much the divested heavy engineering arm was losing....
Thankfully the sale of the cash draining Dukinfield engineering business has already transformed the profit profile for the current yr. It was losing £3m pa. It won't have affected the year ended Dec2020 but going forward alongside the pending disposal of maritime should have a massive effect on the bottom line. I think PC will hand over control when either maritime or possibly the whole group is sold to realise real intrinsic value here. I am sure that the institutional holders are more than aware in this evolving salary conscious environment. 10p should be vaulted in the near term as sentiment aligns with real prospects and material growth going forward. Sale of the £3m loss-maker immediately translates to the bottom line for the current year.

Entirely agree. Do you not however think that the disposal of the heavily loss-making engineering division in Manchester was an indication of centralisation. Clearly the market on which it was meant to be focussed is in an unexpected decline. Selling the maritime division, provided the exit price is excellent, should also cut more costs and allow the group to coalesce the remainder. The fact that Phil Cartmel has accumulated a hi-tech group in Sapienza, Osprey, Westek and ALS means that he may also have a defined exit strategy for the whole company given his age. Time will tell as I assume the sale of maritime involves significant due diligence due to the national security of the field and arena in which it operates.

Excellent piece Scrodingerscat. I think you've hit one of several nails on the head here and also given a valid reason for the prolonged due diligence surrounding the maritime sale. This is a golden opportunity for Phil Cartmel to play out his exit strategy. I think the intentiin to sell maritime was a ghost to invite interest in the whole business. The take out price that PC would expect is 'considerable more's than the current MCap, hence the prevarication. It remains to be seen how this plays out but my reasons for buying back in are the strengths of the tech and IP in high growth areas plus the final divestment of the heavy engineering division which has destroyed meaningful profit for years. The sale won't affect figures to Dec 2020 but should have a huge effect on this current year. The downside from here is very very limited whilst the upside is considerable imo given the intrinsic value of growth components Sapienza, Osprey, Polaris, Westek, ALS and FSS even excluding maritime.

Erosive, not divisive

The biggest drain on TP resources and highly derisive on the bottom line was the now divested heavy engineering section. It won't have had an effect on last year's figures due in May but it will have a hugely positive effect on current years ptp.

TP also announced at end February that it was pleased to be working with SEC Newgate, new Investors and PR agency. They are supporting the group in communications and positioning as a consulting, software and technology business. I think it not unusual that investment coverage and research will start to increase after this bedding in period and look forward to greater exposure of this little gem......£45m MCap is frankly laughable.

TP is also perfectly placed to offer it's modular oxygen generators to a world-wide market. I would expect news that it's extended a hand towards India's woefully inadequate oxygen supply and infrastructure. This alone highlights one of the opportunities that the embedded IP amassed from half a century of submarine atmosphere control can uncover. All valuable organically or to a bigger fish. Massive value here in a debt-free company. DYR and be a prime mover before the herd wakes up....

Cash in the bank, order book at 1.5 x current MCap, exposure to high growth sectors in space, hydrogen and top-level consulting, divested heavily loss-making engineering division and negotiating potential cash-generating sale of maritime division. The sum of the parts here is simply not being looked at. Do the research and catch the rerate as TP has already flagged expectations in it's last t/u. Any positive progress news should trigger a good rise. Directors are prevented from purchasing shares due to price sensitive negotiations on the maritime sale. Excellent time to exploit this embargo imo.

As I warned at 13.46 on 7th April, every time small AIM shares over promise, unwary PI's get sucked into the hype and brokers then jump in with a discounted placing. Please learn by this. He1 is a decent speculative stock and MAY produce spectacular results and profits but always keep those prospects in perspective. If a share spikes on hype, sit on your hands and wait till reality kicks in and it fals back or pauses. If you've done your homework and like the prospects along with an acceptable risk/reward then use the drop to buy in or average down. If not, delay your decision. Yes, you may miss a rocket but you may avoid an unacceptable loss.

Everyone was whingeing about Aviva from July to October last year as it wobbled between £2.50 and £3.00......'dog's, 'waste of time' etc......then it lit up and climbed, and kept on climbing as the value became obvious. Patience, as this price is a steal for all the goodies in the GSK bag.

Keep it in perspective guys.. ...great if it happens. Think helium balloons.....great when they're filling and rising........until a pin comes into play. Take nothing for granted, then you will be elated with a strike but not devastated in a fail.

https://www.hardmanandco.com/research/corporate-research/upbeat-outlook/