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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Timeweave | TMW | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 22.75 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 22.75 |
| Top Posts |
|---|
Posted at 07/11/2012 15:19 by iomarbarrett Yes, it would involve holding shares in a private company. However, you would be an owner of one of the cheapest companies on the global stock market (almost all year TMW has come in top 3 entries on Greenblatt's renowned value filter - you are paying EV of £18.3mm for a company that should capitalise at about 7/8x EBITDA > 60-70mm intrisic value). I would add that if you have a problem holding onto ludicrously cheap equities such as this, then you should perhaps be better served avoiding SMid Equities entirely. |
Posted at 15/10/2012 18:39 by iomarbarrett Today the company has announced it is up to 82%, which is obviously not good. Surprising, especially given the high calibre of investors on the shareholder roster. Boadicea - Eventually the company will disburse large amounts of cash, as hold outs will be parri passu with the Mayfair investment vehicle (hence why they want everyone out). Mayfair will continue to offer liquidity on a periodic basis to external investors even after the take private. In the event of Mayfair not getting the required majority, I would assume they will for a period of time continue with the current zero dividend policy, in an attempt to flush out any of the remaining weaker hands. I appreciate that it is difficult to have any trust in the current management, but declining to accept the takeover is placing trust in the Takeover Code/British law, which does offer some modicum of protection for smaller investors (it is generally very difficult to get 90% consent on an takeover of this structure). Full disclosure, I am an active professional and private investor, and currently have a long position in this name. |
Posted at 15/10/2012 16:34 by boadicea iomarbarrett - Currently no dividend as a matter of policy (to depress the share price prior to the offer). If they continue to just store up value in the company but there is no ready market for the shares (as likely to be delisted), you could find yourself unable to realise their intrinsic value. In addition, Mayfair might find ways - possibly dubious ways, but are you going to take them to court? - effectively to transfer value into other entities wholly owned by Mayfair and friends and gradually run Timeweave into the ground.It's primarily a question of trust and I don't have any here. |
Posted at 23/9/2012 12:36 by techno20 Suspect we'll get a response from Mayfair early next week.Done deal in my eyes. Craven will push them up a bit, but my bet wouldn't be by much. 25p grossly undervalues TMW, but doubt we'll get much more. Hope I'm proved wrong. Tehno |
Posted at 12/9/2012 08:38 by dealer dan No its not all over - there are three weeks before shareholders must decide by 2ndOctober by which time TMW Bod recommendation will be out. There is a long way to go yet. Who gives a .... about DCD shares they will be free in Kelloggs cornflakes before long !! Doom & gloom merchants are rife on this site to say nothing of above constant negative drivvel.... |
Posted at 08/9/2012 14:32 by dealer dan cgod - If I was you I would be spending my time on looking for my dcd parachute !!You do not think J.L will be keeping this tuppence ha'peny co IF he gets TMW ? You clearly do not have a TMW holding so I say look at your own investment before poking your nose thru the hedge. To all TMW P.I's lets hope rebuttal comes after weekend which is surely sufficient time to absorb & shun this silly offer. The BOD can not surely ignore their advisers Investec who weeks ago forecasted 40p !!! Looking at other sources it appears shareholders could force a sale of assets - I would be up for that even if had to wait till Matchbet case concludes probably next year. Yours sickened 11 yr holder |
Posted at 06/9/2012 11:13 by greasynut I sold out after the recent interims c. 20p.My opinion was clear that this company was not being run for the benefit of the general shareholder and was being lined up for a take out. Goldman Sachs would not be interested in a tiddler like this unless doing a favour for a friend, so expect to see their 6% lined up behind the bid. Don't expect the management to come to the rescue. Don't forget they awarded themselves 10% of the company in options last year. Will these convert on a take over? TMW is a pure cash cow for a private owner. The writing was on the wall, but it still stinks. |
Posted at 29/7/2012 07:53 by dealer dan TMW now own 55% of DCD so value unknown till finals- as y/e's are same we are not going to get any monetary update for 10 months whilst share price will continue to wallow @ 20p & no divi !I can not see any capital repayment to shareholders (unless a Matchbet win - but case will not be in 2012) which I would now have been delirious with & would happily exit. Been with this for 11 yrs (not proud) & have not experienced any halcyon days apart from divi- now demised. I view daily exit of private shareholders but am at least bolstered by no serious sellers by the 72% hardcore institutions/million Will join sellers in a year if no + progress. |
Posted at 18/7/2012 11:12 by greasynut 4 April Goldman Sachs go from below 3% to 6%.8-15 June Henderson go from about 8% to above 15%. 13 June GAM sold down from above 8% to below 5%. 13 July Goldman Sachs increase to 7%. Leo Fund managers has been adding, now up to 7%. ...just keeping track. Goldman Sachs is probably the only interesting one. I don't suppose that they would take any interest in TMW on their own account. As a cash rich company with juicy cash inflow from a desirable strategic asset and apparently non-credible management there must be a deal in the offing here sooner or later. |
Posted at 23/12/2011 10:48 by deswalker Hi SteMiS,I'd never heard of it before until a few days ago but was aware of TurfTv through a contact in the gambling industry. I spoke to him before buying in and he seemed to think that TurfTV would gain more racetracks and that the other major bookies besides WMH would have to renew also so the future of AMRAC looks pretty good IMO. I've held SIS (TurfTV's larger rival) via CMX for a year now with no success as yet but I'm hopeful things might improve there next year with loads of sporting and outside broadcast events to cover and hopefully some form of value realisation plan (IPO, trade sale) being developed. CMX dividends are anticipated whilst we wait. I view TMW as almost a hedge against my CMX investment as they are the only two competitors. CMX is purely 20.54% of SIS plus a tiny "shadow business" which I think is only there to keep the regulators happy that it is a trading company rather than an investment company. They intend to return all SIS returns to CMX through to CMX shareholders. I wonder if the SportingWins business acquisition here might be to achieve something similar for TMW. I certainly hope so and these thoughts would be confirmed if they were to return all the excess capital and simply follow the CMX model of paying all AMRAC dividends through to TMW shareholders. In that case I would add to my position but agree that it is unlikely. However, business strategy can change and they have been fortunate to have not blown the cash so far so perhaps they'll listen to the macro-economic vibe and simply run TMW as 50% of AMRAC plus SportingWins ? Nonetheless the large cash pile is a slight casue for concern. I'm surprised you say the spread is wide. I bought 32k at below 24.4p average after costs and suspect I could sell them at 23.7p right now so it's hardly bad. Do you have a holding yourself ? Any other share I should be looking at ? I was speaking to DS yesterday about Conygar. Sounds like fun and games there but I don't hold so haven't followed closely. My disillusionment with the stock market knows no bounds at the moment. Corruption and nest-feathering is unbelievable so finding honestly-run companies is becomg harder and harder and I can barely be bothered to look for new ideas but hope that what I have starts to improve. My two favourite property assets plays are GLE and INL. The former looks especially ripe for a trade sale at close to NTAV on a two year view IMO. Rgds, Des |
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