Member Info for fatoomch

http://www.tpgroupglobal.com/news-events-and-insights/insights/northstar-map-the-gap-insight

Mid December and nothing from Cenkos about TPG NOT meeting their previous revenue forecast, made on Sept 14th. Assumption would be, that with very few working days left on 2021, that TPG will meet the forecast made in September.

tpgroup has secured a one-year contract to develop a software-based emulator that will help to de-risk the integration of equipment for a multi-billion maritime defence programme.
https://twitter.com/TPGroupUK/status/1468869358277599235?t=YMHFMIxtYU8oSrCa4Qxe8Q&s=19

Following the Science Group strategic investment in TP Group in August and the subsequent restructuring of that Board, the new strategy for TP Group was announced on 1 November 2021. As reported by TP Group, this strategy focuses on the UK-based Defence and Aerospace operations which contribute approximately 70% of TP Group revenue and a greater proportion of the profit contribution. The relationship between Science Group and TP Group has developed constructively in recent weeks and the Science Group Board remains positive in relation to the long term merits of the investment.

Point taken Lutra - only time will tell.

I'm sitting tight. That's my decision - If I lose money, not ideal- but won't blame anybody else. Especially someone I don't know who posts on a bulletin board :-)

In that case, Lutea, I would assume its just as easy for a board to conversely inflate and paint a far rosier picture than exists. If the company auditor disagrees- just hire a new one

Hi Radius

My understanding is that any bid from SAG has to be at the highest price they paid in the previous 12 months. That is 6.5p and lasts to around Sept 2022.

Rule 2.8 allows SAG to make a bid within 6 months under a number of circumstance (i.e. bid from another party). But (again, my understanding, having researched) is the rule regarding the highest price paid within the past 12 months still applies so would have to be 6.5p minimum.

In the period until Sept 2022, we will see full year 2021 results as well as the outcome of Lindsay’s work on the parts of the company that don’t fit future plans.

FST, that SAG previously took over, “focuses on digital radio and smart audio technologies, providing chips, modules, and software for consumer audio devices.” That’s a pretty narrow field – and was picked up for around £10M.

TPG is a far bigger, more complex beast, with a similar number of employees to SAG itself. If SAG spend the next year running TPG into the ground with a view to picking up at a bargain price in October 2022, the damage done will be irreversible and they’ll be left with a dead duck.

Hi Radius

All in my opinion of course, and I prefer to use background research to form those opinions

The old BoD – Cartmell especially, used TPG as their personal fiefdom and benefitted as a consequence. The recent statement that employee reward will now be based on company performance is a thinly veiled revelation that it wasn’t previously. Shareholder return wasn’t on TPG radar either, until things went south and the 2020 results were announced.

The RNS about fuel cell “supply” for Hydroflex was suitably vague – some interpreted it as TPG Fuel Cells. The reality is TPG are a consultantcy who will use their knowledge to select a fuel cell – which will be “supplied” to the Hydroflex programme.

I don’t have a crystal ball so can’t forecast, but I do know that the continuance of the old BoD would have done shareholders no favours. Bringing in Lindsay was too little too late, and they were guilty of destroying shareholder value – which lead to SAG taking over.

I do note that Maritime has had a reshuffle:

Claire MacPherson is no longer a director but remains as Company Secretary.

Jon Constable was appointed as a Director - October 22nd.

Daniel Barr was appointed as Finance Director - October 22nd.

Jon Constable is a long standing creditable TPG name. Daniel Barr has been at TPG for over 3 years. Derren Stroud remains as CFO.

Having 3 directors, all long term TPG employees is solid, sensible, and forward looking and provides far more governance over Maritime than a CFO and a single Director could. (Maybe Cartmell preferred it that way?)

It’s actions like this that give me far more confidence than the previous “ownership”. Employee reward based on performance and far better governance over Marine which looks as if it could remain a key part. Only time will tell.

TPG are a consultancy- nothing notable on the RNS front for a while and I don't expect that to change in the next 6 months.

Once Linday has completed his work we may see something.

Flo - when was the last good update irrespective of boardroom?

Radius

There has been plenty of recent press at COP26 on the Hydroflex.

Read the article at the link:
https://www.the-eic.com/MediaCentre/Detail?articleId=471

The TPG news release was worded very very carefully to the extent their role was less than clear.

TPG is a consultancy that will supply the fuel cells. They won't build or assemble - merely supply.

A bit like an events organiser "supplying" the band and catering for a wedding. Utilising their background in the industry to find the a solution.

How ever many trains use this fuel cell - TPG isn't making them.

Morbox - SAG were already in control. Fair play to Holland- emerges with some credit - although tbh, another one who probably contributed very little.

Lindsey and Stroud seem to be the proactive and positive face of TPG .

Positive reaction once again from the market.

Onwards and upwards

LOL cat. Appreciate the applause.

SAG (aka King Arthur) are just about to lop the remaining leg off of The Black Knight then continue on their journey. "Ok, we'll call it a draw then"

The existing TPG BoD aren't prepared to accept what the MAJORITY of shareholders voted for and are acting in a disruptive and illegal manner.

It reminds me of The Black Knight scene in The Holy Grail; the old TPG BoD have lost two arms and a leg but refuse to accept reality.

The market has reacted positively to this RNS.

Radius

Google "takeover code". Have a read. Far more insightful than anyone here - and the gospel truth.

Three dodgy directors who presided over the erosion of TPG have already been sidelined

SAG are in control - make no mistake about that.

1.75M hoovered up at 5p yesterday

Radius

SAG clearly had institutional support.

imo - that included Cannacord. Cannacord are major shareholders in SAG and recently participated in a fundraising/placement of SAG shares.

I don't believe Cannacord would take too kindly to SAG destroying TPG value. In addition- SAG are the biggest shareholders in TPG - they also have an interest in maximising rather than destroying value.

The only down side could be if SAG unearth some financial black holes in TPG.

They only got in because there's bloody great holes in the fence and roof.

SAG on board. All resolutions passed

dactions

There was a mention in the 2018 results. Under the heading "Programme Pursuits". Prior heading was "current programmes".

Current programmes - great - work secured. Programme pursuits - just that, something being pursued.

No mention since. So no, in my opinion, TPG were unsuccessful in their Pursuit of the SEA1000 programme.

Happy to be corrected if someone can post some cold hard facts- which I suspect will not happen.

htTps://www.bbc.co.uk/news/world-58564837

"The pact means Australia has torn up a A$50bn (€31bn; £27bn) deal it signed with France in 2016, to build 12 submarines."

The same 12 subs TPG were providing atmosphere control systems for as part of the Australia SEA1000 program?