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Tawa Share Discussion Threads
Showing 126 to 149 of 150 messages
|Yes, they have been writing letters to holders with regular updates - its strikes me that management are looking after us well and we should get another 20-30p in due course and maybe more.
Received the 11p return of capital this week which was welcome news. The accounts for 2014 were finalised a few months back. I did notice that they haven't been keeping their web-site up to date. All the documents are free at Companies House though.|
|Found the TAL website.
I presume the Annual Report is imminent.|
|Has anyone had any news on the unlisted TAL?
I have lost track.|
|My broker has sent me the demerger form:-
My share holding is deemed to be 50:50 PROG/TAL. I also have an option to "bid" to exchange TAL into PROG with a maximum ratio of 2 PROG: 1 TAL. Lowest "bidding" ratio given priority. Is PROG falling as others will opt out of TAL as it is unlisted.|
|Thnks Mrkoko - very good write up.|
|Getting hammered at the moment.|
|Thanks for your comments - interesting.|
|What is interesting is that Financiere Pinault SCA are quite willing to swap 15m shares in TAL for shares in Tawa PLC. Why:
1. To allow small holders to take listed shares - being generous to those holders that have lost out.
2. To ensure better liquidity in the new Tawa PLC.
3. Because they see better value in TAL.
Which one is it? Probably a combination of 1 and 3. As such, I'm going to keep my TAL shares on the hope this might return book value over a 3-5 year term. The CEO is also going with TAL which is encouraging. I'm sure he will be on a high incentive to get the maximum return for Pinault.|
|This is a mind boggling piece of financial engineering. I doubt it will be cheap either.|
|Hi Topvest, agree with you on keeping the private comp shares - does look like there might be value there, and the fact that FinP was willing to switch PROG into the private comp suggests that they feel the same. Will take several years, but at this price level we should be fine.
Russman - do think that they've kitchen sinked it, esp with a new CEO. However, they also said that PROG would need to continue a high level of investment this coming year to develop the business, so we'll need to hold on for a while yet before we see the underlying results.
Does anybody know when the record date for the demerger is?|
|Yes, it does look that way. I'm going to keep the private company shares as well as the listed ones. I just think there could be a fair return on the wind-up over 5 years or so and I don't want to convert to the service business company. I will buy more shares in the service business if that is merited. What are others planning to do out of interest?|
|This may be the kitchen sink.|
|Share price starting to respond on the demerger strategy. Any thoughts from others on which option they will take?|
|Exactly, but they may well return 25-50p per share in the MEDIUM TERM. Management are encouraging shareholders to swap out of the unlisted entity, so I am naturally cautious especially when the CEO is staying with the unlisted entity. Need to study further, but an unlisted holding at 7p with a possible 5 year pay out of 25-50p is worth the risk to me. Of course, we may get nothing out of either holding if they carry on making mistakes.|
|I suspect that there will be little demand for an unlisted risk carrier.|
|Demerger announced today. I share in the service business (listed) and one in the risk carrier (unlisted) with the ability to swap fully into the listed business. Seems to make sense although they are both dogs. Anyone any views on whether they will go for 2 shares in the listed or 1 share in each. The latter option seems to hedge your bets. There may be some hidden upside in the real dog business (the risk carrier) as that is where the Chief Executive is staying.|
|Yes, well this has been a disaster recently. No point in selling though. Hopefully management can get their act together at some point.|
|5 o'clock on a Friday - is it Crackerjack.
Tawa tries to sneak out a $28m hit.|
|Well these have been having a bad time of late. Probably the time to buy if they can turn this group around and make the transition to a more evenly balanced group with a strong service business running alongside the run-off business. Not sure I have the appetite to buy any more, but at a third of book value this is certainly a value stock.|
|Considering the discount to net assets I was expecting large write-downs.|
|First disposal today. Not quite sure what to make of it as at quite a bit of a discount.|
|Results not great. Not quite sure to make of this one. Think there is probably lots of intrinsic value for the patient at this level, but time will tell.|
|Interesting announcement today. Seem to be considering all options!|
|Results a tad disappointing - lots of opportunity at 40p though.|