Telspec Share Discussion Threads

[philjh] 03/12/2014 18:34

just looking back through some old records, anyone any idea what ultimately happened with these?

[varies] 25/6/2009 16:23

Not much life on this thread which is hardly surprising.
It looks as if Mr. Gyllenhammer must have voted against the proposal to de-list the company with his 26% (or more)of the capital.
Since the directors needed 75% for this proposal, it seems odd they they did not consult him first; perhaps they did and he changed his mind.
If the de-listing had proceeded, we stood to receive 5p a share fairly soon. Mr.G is an active investor with fingers in many pies and I hope he may have plans for TSP which will be of benefit to long-suffering small shareholders like me.
(I believe he paid about 6p a share some 18 months ago and a loss of 17% would be respectable in these markets)
Does anyone have a view ?

[diku] 04/2/2009 22:36

directors loss of office could be big winners...as for shareholders small change if lucky...that is normally the distribution formula!...

[superbigal] 02/2/2009 14:07

Aha my early post
How true over 3 years of dwindling later !!


Superbigal - 19 Sep'05 - 20:11 - 12 of 492 edit

Friendzarin.
In its current state this company is surviving on cash reserves alone.
I suspect the interims may report that as well as giving up on manufacturing that Telspec are also giving up on Research and Developments of their own products.Granted they wont then have much left to shell the cash reserves on, but what ever is formed from the ashes will certainly not be the Telecoms company that it still claims to be on its own website.
As I am no actual expert on the stock market, can someone answer me this question. Most companies I assume only cease to trade when they are in severe financial problems. What happens for instance if the majority shareholder (ie owning 51%+) in a company with decent cash reserves did decide to close the doors ? Does the money and assets just get split between shareholders and no-one has any say in the action ?

[superbigal] 02/2/2009 13:55

Welcome back guys.
The doors are closing and after obligations re warranties etc and more significantly paying themselves large severance cheques I reckon there will be less than £1Million in the pot to share between the 40Million shares.
You will do well to get tuppence halfpenny.
They managed to run this into nothing as I predicted years ago.
Peter G picked a wrong un.
The Hackett Jones would be better of with lottery tickets.



Superbigal - 9 Apr'08 - 11:01 - 486 of 491 edit
Oh Dear the board finally admit that their products are now dated and uncompetitive and they wont be able to design anything new.
Cash now down to £2,750,000 and at last NO more assets to sell.
Costa Rica now ALL delivered and invoiced.

I think Peter G has not backed a winner here.
Not sure anyone should want to merger or aquire.

Shiv "Wrecker" and his cronies will continue to take their cut and wages for as long as the shareholders seem to be prepared to suffer it.
Now only 17 direct employees.

varies - 9 Apr'08 - 16:13 - 487 of 491
superbigal
Although the report is rather depressing, I cannot see any surprises.
The group balance sheet shows only £2,767,000 cash, as you say, but it also shows £1,728,000 of receivables and, in total, £3,779,000 of net assets equivalent to 9.33p per share.
We would not, of course, receive anything like 9p a share in a liquidation but Mr. G. has irons in many fires and may well be able to effect some combination that would be beneficial to a company wanting to raise c.£3 million without a rights issue and to TSP shareholders.
TSP must also have large tax losses which could in some circumstances be of value.
Once the rest of the Costa Rica money is in, we may see some action.
The heirs of Mr. Hackett-Jones still hold 42%, I believe, which they must want to realise one day. So a sale of TSP should prove easy enough to arrange and, from a prospective purchaser's point of view, this is a considerable advantage.
We may, of course, see all the cash wasted on admin over a few years and be left with nothing.This is a risk I am willing to take.

Superbigal - 11 Apr'08 - 12:31 - 488 of 491 edit
The heirs of Mr H-J have been far too trusting with certain people on the board over the years. I like you are worried that all the wastage in admin/wages to people now basically designing and selling nothing, is eating at the cash. All the asset selling and the "conveniant" fire and insurance payments has covered this up over the last few years. Remember they netted about 2Million for stock that was actually due to be written off anyway.

baner - 15 Apr'08 - 08:18 - 489 of 491
it seems realistic net cash will end up at not less than £3m or just over 7p/share. there should be 20p-ish of tax losses (gross) although telecom-related mostly. say this is worth 1p/share max. the listing should be worth a further 1p/share so that in aggregate the board should be able to get 8-9p/share in a reversed transaction - to which could be added that there could be additional upside in the business being rolled into Telspec (and downside of course).

the new chairman is indeed credible and will look after the best interest of all shareholders no doubt.

at 6p the shares must be a sound risk/reward - upside 30-50% and very little downside. interest earned will cover the plc costs so no capital erosion should occur while options are evaluated.

Superbigal appears to be emotionally biased against this company - one could no doubt understand why given the performance in recent years.

[varies] 15/4/2008 11:49

baner
I am glad to find another optimist here.
I have had a few shares for many years and have a distant memory of selling part of my holding at over £7 !
Foolishly I kept the remaining 500 or so which are, of course, virtually worthless.
Over the last 12 months I have been buying in the range 5-7p and have amassed a decent holding. I would, of course, like to see some action soon and feel that this may happen once the Costa Rica money comes in. There seems little point in TSP soldiering on by itself with no manufacturing facilities and just a few service contracts which could, presumably, be farmed out.

[baner] 15/4/2008 09:18

it seems realistic net cash will end up at not less than £3m or just over 7p/share. there should be 20p-ish of tax losses (gross) although telecom-related mostly. say this is worth 1p/share max. the listing should be worth a further 1p/share so that in aggregate the board should be able to get 8-9p/share in a reversed transaction - to which could be added that there could be additional upside in the business being rolled into Telspec (and downside of course).

the new chairman is indeed credible and will look after the best interest of all shareholders no doubt.

at 6p the shares must be a sound risk/reward - upside 30-50% and very little downside. interest earned will cover the plc costs so no capital erosion should occur while options are evaluated.

Superbigal appears to be emotionally biased against this company - one could no doubt understand why given the performance in recent years.

[superbigal] 11/4/2008 13:31

The heirs of Mr H-J have been far too trusting with certain people on the board over the years. I like you are worried that all the wastage in admin/wages to people now basically designing and selling nothing, is eating at the cash. All the asset selling and the "conveniant" fire and insurance payments has covered this up over the last few years. Remember they netted about 2Million for stock that was actually due to be written off anyway.

[varies] 09/4/2008 17:13

superbigal
Although the report is rather depressing, I cannot see any surprises.
The group balance sheet shows only £2,767,000 cash, as you say, but it also shows £1,728,000 of receivables and, in total, £3,779,000 of net assets equivalent to 9.33p per share.
We would not, of course, receive anything like 9p a share in a liquidation but Mr. G. has irons in many fires and may well be able to effect some combination that would be beneficial to a company wanting to raise c.£3 million without a rights issue and to TSP shareholders.
TSP must also have large tax losses which could in some circumstances be of value.
Once the rest of the Costa Rica money is in, we may see some action.
The heirs of Mr. Hackett-Jones still hold 42%, I believe, which they must want to realise one day. So a sale of TSP should prove easy enough to arrange and, from a prospective purchaser's point of view, this is a considerable advantage.
We may, of course, see all the cash wasted on admin over a few years and be left with nothing.This is a risk I am willing to take.

[superbigal] 09/4/2008 12:01

Oh Dear the board finally admit that their products are now dated and uncompetitive and they wont be able to design anything new.
Cash now down to £2,750,000 and at last NO more assets to sell.
Costa Rica now ALL delivered and invoiced.

I think Peter G has not backed a winner here.
Not sure anyone should want to merger or aquire.

Shiv "Wrecker" and his cronies will continue to take their cut and wages for as long as the shareholders seem to be prepared to suffer it.
Now only 17 direct employees.

[cyberpost] 17/1/2008 11:52

Telspec Result of EGM




RNS Number:9910L
Telspec PLC
17 January 2008


17 January 2008

Telspec plc

Result of EGM


The Directors of Telspec plc (the "Company") are pleased to announce that at the
Extraordinary General Meeting held earlier today the resolution proposed to
approve the cancellation of listing on the Official List of the Company's
ordinary shares of 25p each was passed (the "Resolution"). This Resolution was
proposed with a view to the Company seeking a simultaneous admission to trading
of its shares on AIM.

Consequently the Company gives notice of its intention to cancel the listing of
its Ordinary Shares on the Official List and that it will apply to the London
Stock Exchange for their admission to trading on AIM. It is anticipated that
trading in the Ordinary Shares on the London Stock Exchange's main market for
listed securities will cease at the close of business on 15 February 2008, with
cancellation of listing on the Official List taking effect at 8.00 a.m. on 18
February 2008 being not less than 20 business days following the passing of the
Resolution as required by the Listing Rules. Admission of the Ordinary Shares
to trading on AIM is expected to become effective, and dealings are expected to
commence in the Ordinary Shares on AIM, at 8.00 a.m. on 18 February 2008.

[made1686] 06/10/2007 00:46

000000000 i sold when cey fell 30% as i thought it was a beater bet to get my money back i was right

[superbigal] 02/10/2007 10:42

What a turnover !!!!!!!!!!!!!!!
Made1686 could turnover more as a rentboy :)
Component shortages stopping the only contract they have.
That excuse should never wash in a million years.
Anyone have any details ie have INFINEON maybe pulled the plug on the chipsets.

[viewtoakill] 21/8/2007 19:01

I'm still hanging in. Actually bought this last year at 8p I think? on the basis that it was gong to be turned into a cash shell or some sort of M & A activity was gonna happen. So far very little on that front but then Telspec has been doing a great job of clearing out the rubish. Only a small holding. Obviously Lancaster Parker Road is soon to be sold for around 1.685m. Should go through without a hitch. I still see around 12-15p based on cash and it's Nasdaq listing, not to mention years of losses. I guess we're all hopping for a bit more in the sense of some fresh blood being injected into the company though. That could really see the shares zoom although it's tough with the market the way it is recently. Time will tell! I'm in for the long term. For a stock that has a present market cap of 2.8m yet probably worth closer to 3.5-4m I'm staying put even though I'll probably remain alone...

[made1686] 16/8/2007 16:28

yes and may buy more mon thank you

[superbigal] 16/8/2007 12:29

Good One. CEY doing well today. Down 12%.

[peter_piper] 21/6/2007 15:34

I hear through the grapevine that 'The Australian' has missed his chance and Mr Gyllenhammer is about to make his move for the Faraday Holdings shares. Watch this space!!!

[baner] 18/5/2007 09:58

there should be 10p/share left in cash once this is worked out - no later than 12/07. the value of this plus the listing should be 12p-ish. then there are some significant tax losses however these are of course of limited use/value.

the value could increase significantly as a result of a reversed take over in a near future.

the board under mr rakkar has done a good job cleaning the mess up and prepare the bride for a more significant transaction.

unless faraday/hackett-jones sell their shares to a less than prudent buyer, this is a very safe bet - offering low risk and a 100% or better upside.