Member Info for Thunder2040

And in keeping with recent form, no presentation on the website as yet....presume it appears this evening otherwise it's just ridiculous to put that in the RNS today...again

Sturm, if you research Trinity you might change your mind about the acquisition. It is an opportunistic bid that will literally pay for itself in less than two years. Its a complete no brainer for TXP, but as a Trin shareholder I am not sure I am really keen on it. Its very interesting that both parties think they are getting shafted when in fact, with the synergy of less overheads and the release of tax losses, value will be unlocked for both...but I feel Trin should command more than 60p and expect there may be other bidders coming out of the woodwork now.

I'm amazed the Touchestone share price has dropped on this news, from the aquisition .should it proceed..would allow utilisation of the TRIN tax losses and be highly value accretive. The acquired TRIN assets are trading at a quite ridiculous discount to NAV tbh which is why I bought in first place...the issue is we are giving up a lot of our future upside potential for peanuts because TRIN doesn't have funding...I'm not sure what TXPs upside is like tbh.. I would like to review some TXP stats which show your projected profit, EV and valuation per 2p reserves etc. and how it would look post transaction..so I can understand if you are as undervalued as TRIN. And see the synergies on offer.

I have been told my TRIN investor relations today on email that there will be a recorded presentation released later

As others have said from Trinity shareholders view this is a dissapointing price...the tax losses and development ops plus the fact we are net cash and profitable make is prime for a takeover...but the risked value from broker Cavendish if the losses can be utilised is over 200p and you have bid about 61p...not sure hoe it gets approved at the low level its at, TRIN are in no. Hurry it's not a forced sale, so I think the price needs to be higher or a rival bidder may enter now

it's undervaluing trin imo, stripping out cash they are taking this at a ridiculously low price! i think i agree with others, are there any counter bids coming in...if they had offered closer to 100p i'd be more comfortable...but their share price is on its ****...i think a rival bid could still come in given how cheap trin is so would not be selling at this price

Well well, no smoke without fire. The lack of investor meeting becomes apparent. I think the bid price is a bit low, but the touchstone shares are trading cheaply as it is, so there may be some upside to them as well, if the touchstone share price rises before completion on synergies, would that not value this higher?

The issue is the market believes the board will be lighting cigars with the pile of dollars as opposed to returning it to us or drilling anything that works

MCAP continues its decline towards net cash.....the board are basically being told here that the market believes they will actively destroy shareholder value going forward haha. I think its time for the larger shareholders to call time on this one and liquidate the assets - the CEO is getting paid far too much for this performance. Needs a special general meeting to be called ASAP imo.

*and the call around 2pm

Well I think it's likely the RNS is released 7am tomorrow and the

I see deep value here much in agreement with the investment case laid out in investors chronicle write ups...granted sentiment is terrible but if you do invest in deep value opportunities this is actually currently a fairly strong buy...the tax changes and oil price increase can double this within months with no operational progress imo

Why pay when you can take the company away for free, was always clear he would do this, disgrace.

*I think H1 legacy reserve loss was £40m actually reading the interims

But yes if total net reserves loss is 23% then still equity in legacy.

The loss was expected overall too

23% impairment of NET reserves, including the circa £60m from H1..so in total what is the legacy reserves impairment, surely not as bad as press was thinking...? I think the key thing there is net reserves not gross

I wonder how long we will have to wait for news, I dare say a lot hinges on the independent review of legacy reserves and if any bidders comes forward for that part of the business

About £10k of selling knocked off £3m of MCAP...it's so illiquid the price is basically nonsense

I'm a bit annoyed that the elephant in the room was ignored in the RNS...no detail on the credit card claims at all either volume, cost or what legal steps were taken

I have seen it reported in a few channels..but really it's the Bermuda regulator and debt holders consent that is more difficult I believe

If they are standard preference shares they rank higher than equity and pay a coupon usually, so yes they got cash in, but they won't be exercising a conversion...this being said in a wind down they get paid first so worth considering...however I that is factored into the post accredited nav...I emailed IR asking if there would be a trading statement n got nothing back

The insurance insider articles are suggesting debt holders won't approve it and may want equity, I think that is a possibility, what I can't fathom is how the remaining equity based on nav is supposedly being frittered away to nothing based on current MCAP. I think the lack of transparency now is killing this...if they lied and legacy is busy surely it's a question of wrongful trading...I just want a quick sale process of legacy now, return funds to shareholders with hopefully more that £20m left and move on