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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Tamar Euro | LSE:TEIF | London | Ordinary Share | GB00B1CH3174 | ORD NPV |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.00 | 0.00% | 37.00 | 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 | 37.00 | GBX |
Tamar European (TEIF) Share Charts1 Year Tamar European Chart |
|
1 Month Tamar European Chart |
Intraday Tamar European Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 09/9/2014 | 11:05 | Tamar European Industrial Fund Limited | 533 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|
| Top Posts |
|---|
Posted at 09/9/2014 09:40 by jaws6 contulthis might help from below Compulsory acquisition As set out in the Offer Document, Lux Starlight intends to exercise its rights under Part XVIII of the Companies (Guernsey) Law, 2008 (as amended) (the "Companies Law (Guernsey)"), to acquire compulsorily the remaining TEIF shares to which the Offer relates on the same terms as the Offer. As Lux Starlight has received acceptances in excess of 90 per cent. in value of the TEIF shares, Lux Starlight will as soon as practicable send notices pursuant to Part XVIII of the Companies Law (Guernsey) to the shareholders who have not accepted the Offer to acquire compulsorily all outstanding TEIF shares on the same terms as originally available under the Offer. Pursuant to Part XVIII of the Companies Law (Guernsey), this notice will be sent no earlier than 3 November 2014, being four months after the date of making of the Offer by Lux Starlight. A further announcement will be made in due course on the timing of the compulsory acquisition notices. |
Posted at 09/9/2014 09:29 by contoul You help please .I had in my account in Barclays, some TEIF shares. When asked when I would get the proceeds had the reply: "The reason you ,ve not been paid, is because we have no record of you contacting us to accept the offer. This means, we took no action on your behalf, and your shares remained in your account. As they,ve been delisted from LSE, you;re no longer able to sell them" Is that correct? I thought, when an offer comes unconditional every holder is paid. Or this in not the case? Can I do anything or I have to accept what they pretend? |
Posted at 18/8/2014 12:46 by scburbs Settlement due 14 days (not stated as being business days) after offer went unconditional on 4 August. That would appear to be today. I have not received anything so far."Subject to the Offer becoming or being declared unconditional in all respects (except as provided in paragraph 6 of Part B of Appendix I to this document in the case of certain Overseas Shareholders), settlement of the consideration to which any TEIF Shareholder is entitled under the Offer will be effected by the despatch of cheques or the crediting of CREST accounts within 14 days of the end of the Offer Period." |
Posted at 30/7/2014 00:23 by tiltonboy I have also accepted. Disappointing, but still a positive conclusion.Just waiting on LSR, and that will be it for my property plays. It's been a good 30 month play, switching from SREI into APT, into PCTN, and then TEIF (sure I have missed one along the way). Buying on big discounts with attractive yields, is now consigned to history along with cash shells, and Splits. Now the search for the next opportunity! |
Posted at 16/6/2014 18:42 by kenny A purchaser of TEIF immediately recovers about 13p per share in cash, so this just highlights how poor the price of 38.25p is. Hopefully, some other European property funds are running the numbers - an offer at 5% more, say 40.25p or more, invalidates the irrevocable undertaking given by Weiss. |
Posted at 16/6/2014 09:52 by kenny Also very disappointed with the offer price of 38.25p but as it looks like a done deal, I will meekly accept. At a very minimum, NAV is about 42.8p and if the purchaser is able to avoid some of the deferred tax legally, which is sometimes possible, then NAV could transpire to be a lot higher than 42.8p. I will not sell in the market in case there is another offer but I assume management must have touted TEIF to others and this is the best offer they received. Therefore, hopes of another offer might be slim but I guess we will know one way or another in the next few weeks. |
Posted at 16/6/2014 08:01 by scburbs The poor performance of TEIF has persuaded the main shareholder to accept a fairly poor offer of 38.25p.Not a great offer, but it has been getting pretty boring waiting for TEIF to sort itself out. Due to the irrevocables and the fact the offer is not from Patrizia funds it looks likely to go through (unless Patrizia are using Lux Starlight as a stalking horse). |
Posted at 10/6/2014 23:05 by kenny The new management fee comes into effect on 1 July 2014 and will be 1.35% of the mid-price NAV. Because NAV now includes a large amount of cash, surely the directors will act in shareholders best interests and announce a capital distribution to be made by 30 June or as soon as possible thereafter (or a combination of this and a further pay down of debt). Otherwise, the company will start to accrue a management fee of 1.35% of cash, being a lot more than the return it is earning on deposit.Logic would suggest that something has to give; as surely the current status quo cannot continue? I estimate that TEIF can comfortably afford to distribute 7p per share and maybe even a figure of up to 10p per share. Alternatively, if those funds are used to pay down debt, then the dividends can easily be doubled with the company still having annual retained profits. For at least the last 24 months the company has been promising a capital distribution in every statement. It really is ridiculous to keep promising this and not delivering it; even as cash balances increase and net debt is also reducing. Totally frustrating situation! |
Posted at 30/5/2014 09:17 by scburbs Not a great disposal, but Laxey appointment is excellent news. Terra Catalyst is also in wind up mode so I suspect Laxey have been frustrated at TEIF board's lack of progress on distributions and are now taking action. Terra Catalyst have realised all their positions except for a very illiquid Italian position and TEIF.hxxp://www.terracata |
Posted at 26/3/2014 17:38 by kenny Hopefully, we will get news, with the annual results, of a return of some capital. They have run out of excuses to hang on to surplus cash; which is earning almost nothing.The share price is discounting a further big fall in NAV and also no return of cash. There will likely be some further reduction of NAV but one hopes that both of these will not occur! If they hang on to cash post June 2014, we get into the ridiculous situation where the company has to start paying an annual management fee of 1.35% on it. That clearly is not in shareholders interests (it would be solely in the management firm's interests) and would likely lead to a revolt by shareholders. |
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