Member Info for knicol46

join aboard

+ 51%!!!

jump aboard

main course still to come

hurry jump aboard

heading to top floor only - hurry!

on the horizon I hope

I still do not know who is supposedly buying the Snorkel part of TAN and for the company to have to borrow money from the directors just to continue trading is seriously concerning to any investor in TAN.

Does anyone know when and where the 2013 AGM in Tanfield is? I mind 2 or 3 years ago the share price dropped suddenly and found that Tanfield management couldn't be bothered getting out of bed on the day it was supposed to be happening.

Even though the share price is dropping some good news!! Directors have awarded themselves more pay!! http://www.sharesmagazine.co.uk/news/tanfields-cash-crunch#.Ue6FlZBwaUk keep paying into the pot - management needs you!

I have asked Tanfield to change their website to state the correct date of their 2012 results instead of leaving it saying April 2013. I still wait them to achieve this simple request.

I Managed to get to speak to someone at Tanfield who say that even though the Tanfield website states end of April 2013 for the preliminary 2012 results, they will actually be released sometime in May or possibly even June but definitely before the 1 July. The annual report will come at around the same time apparently

On Wed 21 July 2010 a share (con)solidation took place. Shareholders got 1 new for every 30 old. Fractions disregarded. The share price only increased by around 3.85. The was also a rights issue same day. You did get 51 rights (worth as of end of today) £121. The rights issue trading period has ended so you just have to await a credit/cheque for your rights worth after 6th August (probably worth less as there will be no buyers!)

The deadline to take up some of your rights to buy @ £1.50 has passed (ended 3pm 28 July). You can sell your nil paid rights up to 3pm 2nd August or do nothing and receive a cheque/credit for the sale after 6th August 2010. Usually the rights issue price drops nearer the end date but this time looks a bit positive but you never know. I my self have over 63000 nil paid shares to sell thursday or friday - but will probably be sitting on around £30k loss unless share price rises steeply. My break even point is £1.30 in RSLN.

The option 4 do nothing option - means you your rights will be sold at end of right issue period 5th August, probably worth 0p as even the circular before the rights issue makes it clear that doing nothing means your orginal shareholding will be diluted by 94.4%.

The circular Resolution brought out states, "If a Qualifying Shareholder does not take up any of his entitlement to New Ordinary Shares, his proportionate shareholding will be diluted by 94.4 per cent". This to me indicates a zero worth nil paid rights figure after 5th August 2010. The also go on to say, "The Directors will either return funds to Shareholders or seek Shareholder approval to continue to hold the cash, if no other acquisition is announced by 31 December 2010". Massive loss for myself anyhow

If you do nothing your rights would automatically lapse and be sold off at a price to be determined but should equal slightly less than the last days trading closing price. You should receive the payment for this anytime after the 6th August 2010. I have over 70000 nil paid shares and expect to be sitting on a minimum loss of £40000. I do expect the rights issue price to continue to fall to around the 50p mark nearer the 5th August. As for the ordinary share price - I estimate £3.20 nearer the end of the year - but even this figure would only represent a share price of around 80p before the consolidation happened.

Doesnt seem to be much benefit in buying in at the rights price of £1.50 giving that the share price will probably continue to drop and be at £1.50 nearer the 5th August

The Share Price will probably drop nearer £1.50 mark (the rights issue price) heading towards the 5th August 2010.

unfortunately yes - sell the nil paid rights and rebuy back into RSL ordinary shares using the nil paid rights proceeds. If the share price went up 10p so would the nil paid value so no real beneift holding onto nil paid rights if just buying back into RSL. I orginally bought in @ 82p and I need £2.82 to break even.