Tandem Share Discussion Threads

[greengiant] 17/6/2010 09:55

Come on SM - you know you can do it!

gg

[supreme mo] 15/6/2010 18:50

GG, frantically trying to get time off work. 50 50 at the min, but definately want to come.

[greengiant] 15/6/2010 17:46

Have you also noticed the $ beginning to weaken? Barclays Capital believe that 1.57 is on the cards between 3 and 6 months. Which probably means that it will end up around 1.50 :-)

gg

[greengiant] 15/6/2010 17:45

And 8 people coming to the AGM - come on people let's get it into double figures. Holiday Inn 2 minutes away and I will personally buy you all a beer after the meeting.

8 people - is that a record for TND AGM?

gg

[davidosh] 15/6/2010 16:05

That man strikes again !

The Company has received notification that Mr Andrew Burgess has a beneficial interest in the Company of 780,000 ordinary shares of 25 pence each, representing approximately 14.07 per cent of the issued ordinary share capital of the Company.


Back to you Jupiter ...lol

[myrtle1] 15/6/2010 14:53

Hi David,

I'll definitely come along

[davidosh] 15/6/2010 09:24

scburbs....you asked about the Ben 10 licence as follows;

Holders may be interested in this from Halfords. As well as the strong cycling market a key question is what are Halfords doing at the Childrens end of the market and is this an opportunity or a threat for TND. I thought MV Sports had the Ben 10 license so is Halfords stocking their product or is MV Sports license not exclusive ?


I can confirm that the MV licence is for all Ben10 wheeled products sold in the UK and those booming sales at Halfords are to the benefit of Tandem.

Any further questions ahead of the AGM to put to management ?



I will keep a list of shareholders coming to the AGM....

Marben100 (who attended two years ago)
Skegbyhouse ((TMF)
Elwyn (TMF)
greengiant
davidosh
MrContrarian (TMF)
kramch
myrtle1
supreme mo (possible 50/50)


Any more to join us ??

[greengiant] 15/6/2010 09:12

SM - I am not surprised. You only need to go on-line and check limits

Currently max buy is 100 @ 107
Max Sell is 10,000 @ 105.

I dont think the AGM statement will be all that great, the $ will be weighing on margins but on the upside, if you have a child aged between 3 - 7 ask them about Ben & Holly.

gg

[davidosh] 14/6/2010 23:55

Graham Waldron is still the chairman until the AGM and as a director would have to notify if he changed his holding whether buying or selling. From memory I think he has around 1% of the company.

Incidentally if anyone has questions for the AGM but cannot attend then why not post them here and one of us will raise them in the meeting.

[supreme mo] 14/6/2010 18:50

Does Graham Waldron still have a holding here?

[supreme mo] 14/6/2010 18:47

I struggled to pick up 4k today - trader made me pay 2p over 98p! wish i had got more!!!

[greengiant] 14/6/2010 13:21

Where did they get the shares from? I wouldn't have thought there were many around, as people have been selling, I have been taking up the slack - the reason my buying has slowed down so much is because there is limited availability.

Nearing 14%

gg

[supreme mo] 14/6/2010 13:19

How have they accumulated that amount of stock over the past few months?

[davidosh] 14/6/2010 12:08

Jupiter have done absolutely nothing for years and years with regard to their investment here and now they start buying !!

[cwa1] 14/6/2010 11:50

The Company has received notification that Jupiter Asset Management Limited has
a beneficial interest in the Company of 556,101 ordinary shares of 25 pence
each, representing approximately 10.03 per cent of the issued ordinary share
capital of the Company.

Interesting. My notes, which may not be reliable!, suggest they were at 9.4% before.

[greengiant] 12/6/2010 07:48

Thanks Whoppy, these are the questions that I was hoping that I and others could question the Board about.

Looking at TND's performance for last year, hidden away on Page 27, note 16 last paragraph (that's a mouthful)

States that the company's Forward Contracts contributed an Accumulated Loss of £437k which gets charged to the P&L under Cost of Sales. This is in some part the reason for the reducing GP%, and whilst the downward trend of the £has continued - it has slowed so, this year we should see a lesser impact and a greater GP% (dependant on when the FC's were taken out and whether the company has been able to pass on some of the devaluation)

It does explain why the 2nd half never saw the reversal stated in the Chairman's HY report and again brings into question how much that Chairman actually knew about the mechanics of the business.

gg

[whoppy] 11/6/2010 22:32

gg, thanks, I understand what you mean and agree going to AGM's is important, however I just felt a different location might improve attendance. This business is very cyclical in relation to Christmas and Summer with Christmas being the strong period and summer, if it's nice weather, good for the outdoor products. Setting easier performance targets is something that needs questioning. I am not sure about share buybacks and would rather have a divi if there is any money they feel they have spare. I think buying shares to improve eps is rather inward looking and lacking, just my opinion. Would like to see a fresher feel and new strategy going forward. I believe they have the products and have improved on the cost savings and are improving sales, so with the right management and approach they cannot be that far away from getting it right. There is so much in their favour. Did you know trampoline sales have risen in the UK this year by 70% and bike sales just seem to grow year on year. Something wrong with reducing the KPI's. Does'nt send out the right message. I get the feeling something or someone has had a grip on this company for too long but the shackles are breaking off so I wait and see. GL.

[greengiant] 11/6/2010 17:24

jumpin - okay 10 max.

Whoppy - the point here is that all shareholders are owners of a company, not just big shareholders, they just own a bigger %. The fact is that all shareholders are entitled to the same information and are entitled to answers to their questions. The more shareholders shun this opportunity the weaker they become, and as such they really do lose their right to complain about the people running the company. If people have the opportunity to stand up, but prefer not to, then they IMHO are passive and really not taking their ownership responsibly.

You state not to let the management pull the wool over my eyes - well, be there to hear their views and use your right to question. After all, my experience with this board is limited.

The resolution regarding share buybacks is standard and I know of very few companies who do not include this. The Finals give a guide as to future strategy with regard to organic growth and acquisitions. For me the fundamental question still lies around directors pay and bonuses. One assumes with MK moving to a Non Exec role, we will see saings in terms of his large pension contribution and Bonus payment. The next step is to determine the rationale behind the bonus targets, as again, if you look at the accounts -
Page 5

All Target KPI's were set below the level achieved the previous year - if this is the basis of the bonus, then it needs to be reviewed and the Directors need to realise that it is no longer acceptable to give Targets below last year actuals. If that was the case in perpertuity, you would have a target of zero in a few years.

Also looking at the accounts, we need to gain an understanding of the performance of the business over and above the numbers stated in the Final Accounts.

For example:

The MV Sports business states that sales are 43% up in the first 13 weeks versus prior year, just maintaining the same sales level as last year, this means that using a simple pro-rata for turnover, turnover for the first 6 months should be around the £7.2m mark. This means that the 2nd 6 months becomes significantly easier to meet expectations.

The calculation behind this is £6m / 26 weeks x 13 weeks x 1.43 = 4.29m versus approx £3m for last year. The same calc for the bikes division can be done, adding a variance factor in for the large order received last year - although doing the calc shows that I would be suprised if turnover did not match or exceed last year.

gg

[whoppy] 11/6/2010 16:05

gg, oh well, it's their opportunity not mine but lets hope we get a presentation at some time or other rather than just the normal AGM. Of course if I had 100's of thousands invested I would be there like a shot. If they've got something good to say i guess we will hear about it. Thanks for kicking the board up the backside but don't let them pull the wool over your eyes. Cheers.

By the way, i see they still want to buy back shares. Can't they create shareholder value by advancing the business instead of using up cash for more share buybacks? The last one was disastrous. I voted no on this.

[jumpin_jackflasher] 11/6/2010 16:04

bit more than a 5 min taxi.

quite impressed with the size of that building. You know, you pass something often and don't take the time to look. One supposes one gets to look around the facility, as one is there.

[greengiant] 11/6/2010 15:59

Whoppy,

The place is easy to get to, take a train to B'ham New Street and it is about a 5 min taxi - so that is really a poor excuse seeing thatI am making the trip from abroad.

gg

[whoppy] 11/6/2010 15:03

dd, Thanks that sounds good.

[davidosh] 11/6/2010 14:59

whoppy.....they certainly will and having been to the site I can assure you that their presentation of the products is worth seeing as the range is vast.

[whoppy] 11/6/2010 14:49

Out of interest, will they be having a collection of their products on display at the AGM. Would look quite impressive if they did and could see then why they have the AGM where they do. Could even have a go on some of them.

Are they cashing in on the world cup through Kickmaster? seeing as lots of folk will be watching football.

[18bt] 11/6/2010 14:40

I'm afraid I can't make it, but I have voted against the appointment of Simon Morris and for Andy Bestwick.