Tex Share Discussion Threads

[battlebus2] 14/4/2016 15:29

Bought a few after the recent news, like the dividend and the silence :))

[charo] 24/1/2016 09:14

in spite of the burrows crony board paying out 1million in cash weakening the balance sheet could be a target for a growing business Coral comes to mind.

[tuscan4] 10/11/2015 13:39

Is the Plastics division, after substantial recent investment, possibly worth £10 million ?. Could it attract an offer? Is this (apart from dividend taxation) an underlying reason for the special dividend? If so this would be the exit route for Burrows. Substantial Plastics special dividend c 100p, Burrows bids for rump. In the process the Pension Fund is neutralised. Everybody is happy.

[charo] 07/11/2015 11:44

pension fund regulator should step in and insist defecit be reduced.

[briangeeee] 06/11/2015 12:30

Presumably connected with the changes to dividend taxation.

[charo] 06/11/2015 12:20

is this not a special payment to concert party to reward them for losing bid.No suggestion at interim of such a proposal.indeed concern expressed at possible pension problem.

[minky] 06/11/2015 08:17

Nice Chart

[charo] 20/8/2015 14:23

should merge with coral products.

[charo] 19/3/2015 11:58

bet results only satisfactory to burrows and cronies on board.the shareholders are in a bind they cannot effect change because of control exercised by concert party but can only prevent change .result stalemate.

[charo] 22/12/2014 14:59

disgraceful burrows taking the p.

[smithie6] 01/9/2014 22:07

I wonder if the chairman thinks that any of the land assets of the co. are suitable to be used for housing ?

(and hence the land could be sold at a much higher price)

[smithie6] 01/9/2014 22:02

and the indep. dir. should walk as well imo

[smithie6] 01/9/2014 22:01

just had a little scan ....

amazing performance from the chairman....

no option imo but to walk...

well, I guess with his large holding and doing certain services for the co. from his cos....that he wont !

How can the regulators let him get away with his conduct ?!
(maybe since there arent any real ones !)
----

Chairman and indep. dir.
soon to be added to blacklisted page a fulltimeinvestors.com
tomorrow.

[charo] 13/8/2014 14:43

the board must have received other approaches the non execs need to man up or walk.

[tuscan4] 12/8/2014 09:39

And so it goes on. The MYSTERY OF THE MISSING PROFITS, Part 2 Now showing at your local cinema. With Plastics much better, Boards better, Oman provisions lower,a 40 Tonne Hammer producing c. £1m revenue and sold, all adding up to a boost in underlying profits of c.WELL OVER £1m. What happens? Pre- Tax profits barely inching up. WHY ? The answer may be as follows. Further provisions on Oman (200k ?) Losses in Tex Engineering ( 300k?) Eurotex losses ( 200k?) ATC losses( 100k?) Bid Costs(100k?). So in 2013 underlying profits of £2m drastically slashed thanks to Oman. In 2014 underlying profits of over £2m slashed to less than half. Wheras every other Quoted company goes out of its way to emphasize how well it is doing Tex does THE EXACT OPPOSITE. WHY? We await the next bid attempt by the Chairman. Obscuring the real profits cannot be hidden from the cash flow statement. NET DEBT reduced by OVER 50% hence the begrudging rise in the dividend. At 78 years of age Burrows should now depart. New management with a remit to grow this business and to unlock shareholder value is urgently required.

[rburtn] 11/8/2014 20:09

No doubt whatsoever in my mind, someone is trying to persuade shareholders the company is worth far less than it is and they would be well out of it. Looks like a case for a 'White Knight'.

[dab26] 11/8/2014 19:36

That's the most downbeat commentary accompanying a 50% increase in interim earnings that I think I have ever read!

[aleman] 11/7/2014 13:09

The recent vote was 53% in favour. The paperwork for the offer reserved the right to come back with a conventional tender offer if the scheme of arrangement failed. 53% would have handed control to the chairman in a tender offer so this might yet happen (although a few may have sold in the market since) The question is, does he wish to have the hassle as he will still not have the full control he desires and it will probably draw attention of regulators after the failed scheme of arrangement and criticism from small shareholders. (I note the AGM statement did not give a breakdown of the vote and did not say resolutions were passed UNANIMOUSLY on a show of hands.)

[rburtn] 04/7/2014 21:02

My reservation is that we have an executive which quite clearly is prepared to short change shareholders, time for those behind this exercise to fall on their swords.

[bandari2] 04/7/2014 19:12

Perhaps this will make the company wake up to the fact that there are shareholders ! I understand that they had so little regard for them, that those attending past AGMS held on the industrial estate were not even offered a cup of coffee!

[briangeeee] 03/7/2014 11:44

Successful, but it's annoying the company has been so poorly advised, including by its non-exec directors. A needless diversion and waste of company time and cash

[lasmo] 03/7/2014 10:21

Today's the day where we find out if small shareholders united have been successful.

[hastings] 30/6/2014 16:45

May be of interest to others