Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
The Company is today posting a circular and a Notice of General Meeting to Shareholders which contains details of a proposed transfer of listing category on the Official List from premium to standard
Chairman and deputy chairman, taken on in January are going, presumably because Chris Merry, taken on in February wants to replace them?
I vote that we both take a vow of silence:-)
You are allowed to open your mouth again now:-)
LOL - the way they word that sounds like the directors have relinquished their managerial resposibilities ie. resigned or been sacked. The truth is far less exciting.
Yea - good shout
Glad to hear you made money. I find that most everyone on these forums makes money which begs the question - who ever loses money and admits it? Anyway a wise punt would have been a buy before the 29th statement at 6p or less and a sell today at 9p - hopefully some people managed to get that right - I missed the opportunity:-( Opinion is not a problem - we all have those but L&G sales before the 29th statement are quite frankly irrelevant. They got it wrong. No-one who really has a finger on the pulse sells shares at 5.8p when they can sell 9 days later for 8.9+p. So Sligeeach55, assuming Tenon stays trading until the end of October, do you reckon the share price will drop below 6p or is there a possibility of it being 20p+in three months time like the last time this happened with Tenon? If you weren't involved at the time. it was 2003 - a drop from around £1.70 to below 7p and then a recovery to around 30p in three months.
Not really that much of a guess as they have reduced their holding over time from that to the current level of 3.82%. Recently they sold 2% taking the holding from 6.1% to 4.1%. All this took place before the 29th Feb as did the recent small sale so what is your point? We know that the share price has dropped like a stone and all the sales have occured when the SP was at a depressed level, presumably for sensible business reasons that turned out to be wrong. Why have Lloyds extended their borrowing facility and not sold any of their shares? Why haven't L&G sold over the last few days? Somebody dumped shares earlier today screwing the recovery for a hour or so. Now it is not possible to buy 10000 shares. Your call Sligeach55
Do you mean this...................... http://www.iii.co.uk/investment/detail?code=cotn:TNO.L&display=news&it=le They sold about 9% of their holding and triggered an update because their overall position went below 4% - 3.82% to be precise. This happened on 23rd Feb, before the Company statement - is there something more to report?
The share price was less than 6p up until the 29th Feb, having traded at around that level for a number of weeks. The company statement on 29th Feb has seen the share price steadily rise to 9p, returning 50% in less than 3 days - what kind of punt would you call decent? Company is in a mess, that is undeniable but their Bank, Lloyds, own 4% of the shares and have agreed in principle to support Tenon until the end of October. I guess that 'in principle' means that terms have not been agreed but the money is there? Most of Tenon's fee income is paid in the second half of the year so the bank has presumably taken a sensible view of the situation. Given that the bank own a chunk of shares, a rights issue looked unlikely and a break up should it have been imminent would have likely been announced on 29th Feb. The company is rationalised where duplication occurs from the purchase of BJ and are aiming to reduce borrowing by £14m. I think the situation looks 50% better than it did 3 days ago:-)