|Trans Balk Inv
||EPS - Basic
||Market Cap (m)
|Equity Investment Instruments
Real-Time news about Trans Balk Inv (London Stock Exchange): 0 recent articles
|prothus: I agree maestro,
We need to see if the market think the same way and push the share price above the offer on the belief that a) the offer undervalues company assets and b) another bidder may come in.|
|lbo: Todays Telegraph says £1-1.10!
TBI takes off after approach
By Christopher Hope, Business Correspondent (Filed: 19/11/2004)
TBI shares surged to a three-year high after the airports operator, under pressure from activist shareholders to be broken up, said it had received a takeover approach.
Analysts immediately suggested that potential bidders, which could have to pay up to £600m for the business, could include Australia's Macquarrie Airports, which recently invested in an airport in Belgium, or Hochtief, the German construction group which walked away from bidding for TBI in January.
Speculation has been swirling around TBI, which owns Luton, Cardiff and Belfast International airports, since it was revealed last month that investors controlling 20pc of its shares were pushing for the company to be broken up.
TBI said in a statement : "The board of TBI notes the recent share price movement and can confirm that it has received a preliminary approach which may or may not lead to an offer. Discussions are at a preliminary stage and there can be no assurance that agreement can be reached."
TBI's shares closed up 9.75 at 85.75p. Analysts have been divided on TBI's break-up value. While some have said 80p a share, some of its investors want 100p to 110p a share, if a premium for full control of the airports is included.
TBI has become increasingly attractive to a bidder after a flurry of corporate activity. A key move was its £78m acquisition of a 28pc minority holding in Luton airport three weeks ago.
The minority holding has traditionally been seen as a poison pill for a bidder because Luton is such a key part of TBI's business.
TBI also announced this week that it had started negotiations with Luton borough council about increasing its 30-year lease (there are 24 years left to run), as well as selling the Hilton Hotel in Cardiff to raise over £28m.
TBI has also sold its airport services in America and has pledged to offload three Bolivian airports by March next year.
Keith Brooks, TBI's chief executive, angrily denied this week that the company was dancing to a tune set by shareholders, which include JO Hambro, Laxey Partners and Gartmore.
He said: "I have no problem with the shareholders. We are doing nothing different. They only came on to the register three months ago. All of this was planned."|
|prothus: RNS Number:3934F
18 November 2004
18 November 2004
TBI plc ("TBI" or the "Company")
The Board of TBI notes the recent share price movement and can confirm that it
has received a preliminary approach which may or may not lead to an offer for
the entire issued and to be issued share capital of the Company. Discussions
are at a preliminary stage and there can be no assurances that agreement can be
A further announcement will be made when appropriate.
TBI Tel: 020 7408 7300
Keith Brooks, Chief Executive
Caroline Price, Finance Director
Dresdner Kleinwort Wasserstein Tel: 020 7623 8000
College Hill Tel: 020 7457 2020
Dresdner Kleinwort Wasserstein Limited which is authorised and regulated in the
United Kingdom by the Financial Services Authority, is acting exclusively for
TBI and for no one else and will not be responsible to anyone other than TBI for
providing the protections afforded to customers of Dresdner Kleinwort
Wasserstein Limited nor for providing advice in relation to any matter referred
to in this announcement.
This information is provided by RNS
The company news service from the London Stock Exchange
Agree. Could someone please enlighten me on stockmarket rules for making an announcement.
With trades at 6.25m now (five times normal volume) and with a share price increase of 8%, this will be under scrutiny. At what stage will the delightful Mr Brooks have to make an announcement?|
reference to 'pump and dump city boys' shows your complete naivety.
This is a bulletin board largely populated by small independent shareholders with minor holdings. This company is capitalised at £420m, with shareholding sitting largely with the Thomas's or with the institutions. These people do not read these boards, nor are they remotely interested in them. £4m of shares changed hands today, and the share price moved by 1p. It will take more than a suposition on an independent BB to move this price.
I share my thoughts with you. Take them or leave them. I really don't care. 'Pump'? - I know even with full support of this BB, we will have no influence at all|
|tonester30ccfc: Got me wrong mate. Cardiff boy working on rumour and hunches. I got in for £12k yesterday on the back of what I thought were excellent results and couldn't understand the apathetic reaction. Fishing and researching today leaves me strongly in the belief that something is cooking.....to the extent that I am in for a further £40k today.
Dump....absolutely. If my hunch is right this will add 15-20% in the short term, and I'll take my money out and move on. If I'm wrong, the results are strong enough that the share price will not fall from this level.
Good upside. Limited downside.|
|curryms: A lot of money flowed into TBI shares (some of it mine!) on the announcement of interest from Hoctief.
TBI's share had been in a strong upward trend from March until October but turned downwards particularly after the interims, I suspect the trend downwards (to 55p or lower) would have continued had Hoctief interest not been announced.
Like you dbcnotts many investors are getting fed up waiting for developments and some will cut their losses and bail out resulting in a drift down in share price.
However I remain convinced that TBI's days as an independent company are numbered and Hoctief or somebody else will pounce.
TBI's trading update has had little or no effect on the share price but I would concede that an absence of passenger growth (or decline) would have pushed the share price downwards.
|curryms: Positive news from Easyjet not a significant factor for TBI share price.
TBI interim figures (Nov) reported 5% growth in revenues, which is obviously good, BUT TBI profits fell - BAD.
TBI failed to control cost hence the City has concerns about the ability of the current management to take the company forward even when passenger numbers are rising via Easyjet etc.
The good news is that under these circumstances TBI remains in play - somebody if not the Germans will take TBI over.
Unfortunately we are likely to see further weakness in TBI share price until TBI are subject to an offer. Current share price is supported by the Germans potential bid not revenue growth/profit growth.
|guysands: From the Times today:
SHARES in TBI, the airports operator, have climbed steadily since the spring, but yesterday's cautious trading statement gave some investors an excuse to abandon this craft and take profits.
Passenger numbers at Luton, TBI's most important airport, have slowed after MyTravel's withdrawal of services. The fall-out from the Iraq conflict and the Sars outbreak has hit some long-haul services. But should these historic problems be any guide to future growth?
TBI is often in the shadow of its larger rival, BAA, which is seeing record passenger numbers. Airlines are in poor financial shape, but a fares war this winter will ensure that the two operators will do well. Landing fees and the footfall in airports' shops and restaurants will both be high.
More people are flying than ever before and TBI's short-term hiccups should not obscure its long-term potential. Luton's passenger growth was just 5 per cent in the first half, equating to perhaps 165,000 fewer passengers than forecast. EasyJet's planned expansion at Luton and the start of services by Italy's Volare should boost TBI's chances of making good the £1.6 million shortfall in revenues from Luton.
Talk that TBI could be taken private, or that France's Vinci, which owns 14 per cent of the UK company, may yet mount a bid, refuse to die. But this does no harm to the share price. TBI trades off a high forward price/earnings multiple of 22.3, and yields an unremarkable 3.6 per cent. Even so, buy for future prospects.|
|girvin: Last set of results very good considering market conditions
Since then we have seen a marked recovery in Air travel.
Easyjet passenger figures up 134% in September
Baa passenger figures up 8.1%
Still tbi share price has droped on concern that Vinci are looking to sell
there stake. Imo there is no way vinci would sell at this level.|
Trans Balk Inv share price data is direct from the London Stock Exchange