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TPS Turbo Power

0.035
0.00 (0.00%)
16 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Turbo Power LSE:TPS London Ordinary Share CA8999101030 COM SHS NPV
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 0.035 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 0.035 GBX

Turbo Power Systems (TPS) Latest News

Real-Time news about Turbo Power (London Stock Exchange): 0 recent articles

Turbo Power Systems (TPS) Discussions and Chat

Turbo Power Systems Forums and Chat

Date Time Title Posts
10/12/201721:43Turbo Power Systems Inc18
03/6/201710:59Turbo Power Systems - A Fresh Start2,330
04/1/201309:15TURBO POWER SYSTEMS INC-
08/11/200919:54Trading papers3

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Turbo Power Systems (TPS) Most Recent Trades

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Turbo Power Systems (TPS) Top Chat Posts

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Posted at 20/11/2017 13:47 by noirua
Meeting:
TAKE NOTICE that a special meeting of the shareholders of Turbo Power Systems Inc. (“TPS” or the “Corporation”) will be held at 1 Queens Park, Queensway North, Team Valley Trading Estate, Gateshead, Tyne and Wear, NE11 0QD, United Kingdom on November 22, 2017 at 1:00 p.m. (London time) (the “Meeting”).

The main item is a vote to become a Private Company and to pass a resolution to pay shareholders 0.02p per share.

Barnetpeter has summed everything up in the last post.

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October 10


October 10
hxxps://www.britdaq.com/Pub/TPS_Notice_of_Meeting.pdf

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TPS is being amalgamated with Yucon Inc the purchaser and is a subsidiary of TAO Sustainable Power Solutions (UK) limited.

TAO owns 91.6% of TPS.

8.4% shareholders receive a MISERABLE 0.02p a share.

TAO through Yukon Inc obtain TPS and do not just get the MISERABLE 0.02p a share.

This rates as a CONsiderable steal. If I did the same I'd not object to my move being said to be like that of Stalin and being chucked into a Russia Gulag.
Posted at 25/10/2017 23:02 by barnetpeter
We write to you as a holder of Turbo Power Systems Inc Shares within your Vantage Fund & Share Account. Notice has been given by the Board of Turbo Power Systems Inc that a special meeting of the Shareholders of Turbo Power Systems Inc will be held to vote on a proposed amalgamation of Turbo Power Systems Inc with 536348 Yukon Inc. The Amalgamation will be effected by way of a Plan of Arrangement under which 536348 Yukon Inc will acquire Turbo Power Systems Inc.
 
“The purpose of the Meeting will be to ask our shareholders to approve a proposed group restructure transaction by way of an amalgamation (the ‘Amalgamation’) of the Corporation with 536348 Yukon Inc.
 
“Upon completion of the Amalgamation, holders of Common Shares (other than Tao UK and its affiliates and Dissenting Shareholders) will receive, for each Common Share, one redeemable preference share (an ‘Amalco Redeemable Preferred Share’) of the new corporation (‘Amalco’;) resulting from the Amalgamation. On the effective date of the Amalgamation, each Amalco Redeemable Preferred Share will be immediately redeemed for pounds Sterling 0.0002 (the ‘Redemption Amount’), payable in cash.
 
“If the Amalgamation Resolution is approved, the Effective Date of the Amalgamation is expected to be on or about November 23, 2017, or such later or earlier date that the Amalgamation Application is filed with the Registrar in order to effect the Amalgamation under the YBCA (Business Corporation Act (Yukon)).” (Source: Letter to Shareholders, 10 October 2017)
 
The Amalgamation remains conditional on the approval of the proposals at the special meeting. If approved you will receive 0.02p for each Turbo Power Systems Inc Share held.
Posted at 27/9/2017 13:28 by noirua
TPS directors plan a conversion of shares combined with a buyback at 0.02p per share. The share consolidation will not now take place. A meeting has been called by the company. If agreed, present small shareholders will make substantial losses.



The Company will convene a special meeting of shareholders to take place on November 22, 2017 for shareholders to consider and approve the Amalgamation. A copy of the above fairness opinion will be included in the information circular to be provided to shareholders in connection with the Meeting.

The Board unanimously recommends that shareholders vote in favour of the Amalgamation Resolution.

[ For what it is worth, vote against the proposal. It benefits 'TAO' and no one else. If I decided to offer shareholders just 0.02p a share, I would consider myself not fit to hold office as a director of a company ]
Posted at 23/9/2017 13:49 by noirua
Next Quarter Results, 3rd quarter to 30th September 2018, are due in late October. Probably about Monday 23rd October 2017.
Last results, 2nd Quarter (already published) to 30th June 2017:
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• The directors expect the proposed share consolidation, which was approved by shareholders at the AGM,
to be completed in the quarter ending 30 September 2017

Carlos Neves, Chief Executive Officer, said:
“During the first full quarter results since the change of majority ownership of the Company on 30 March 2017 the Company has signed two letters of intent for contracts representing more than £8.00 million.

These should lead to sales order intake in Q3 2017 with deliveries commencing in Q4 2017.

While the delay in signing new contracts, together with customer driven delays and rescheduling of production contracts into the second half of 2017, has resulted in lower revenues in the quarter compared to the same quarter last year, I am encouraged that there is a higher number of opportunities generated and more relevant in strategic importance than last year.

This gives me confidence that our strategy is proving to be right.
-
I am also very pleased that TPS’ products continue to receive positive acknowledgement as demonstrated by the Highly Commended Certificate in the Environmental Category during the Rail Industry Award 2017.

I thank the TPS team for continuing to work hard towards our Mission of “Delivering excellence and
continuously exceed Customers’ expectations by adding value in everything we do”.
Posted at 30/8/2017 14:26 by noirua
The present buyer is offering to pay 0.06p at Britdaq for TPS. There are no sellers.
A consolidation of 1 share for 5,000 shares is underway at present. Online brokers are in the main not showing TPS shareholdings at present.
Posted at 25/8/2017 23:04 by noirua
Not sure what has happened at TD Direct. Seemed to have changed my TPS shares into 'TURBO POWER SYSTEM INC COM NPV shares worth C$0.005 - worth C$59,000 (£34,000). All very nice on paper but I don't believe in miracles.
Posted at 03/6/2017 11:08 by noirua
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Britdaq Company Information - TURBO POWER SYSTEMS (TPS.BQ)
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Posted at 10/5/2017 00:01 by noirua
Hopefully we will get a reaction at some time similar to TAIHua - now has no market quote. Went from, bid-offer, 0.1p-0.9p up to 1.5p-2p.
TPS is a gamble now as many evacuate at 0.01p or 0.015p.
Ask yourself a question. When the share price was over 0.3p the company had several offers at a substantial discount to the trading price. Was it 25%, 33% or 50% - some think 96.6% when they sell at 0.01p and 95% at 0.015p - what is a fair price based on that?
Posted at 08/5/2017 15:29 by noirua
Added just a few today at 0.029p. Agree with barnetpeter that those selling at 0.01p-0.015p are having their holding taken from them for very little indeed.
The company are only cancelling the market quote as small trades move the price all over the place and mainly downwards. The market in TPS is ridiculous. Try buying £5k of stock and see what happens to the share price - could be mildly amusing.
Posted at 04/4/2017 16:07 by noirua
The offers for TPS were well below the trading price of the shares. However, we have to guess what the share price was at the time though.

The last final results were delivered on the 15th March with the share price at 0.2p. It is likely the share price was around 0.3p at the time of the bids. Therefore it seems that all the bids were around 0.2p or so.
Turbo Power Systems share price data is direct from the London Stock Exchange

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