Tandem Share Discussion Threads

[actscap] 27/4/2022 15:41

Agree we may be jumping the gun here. The tone of the prelims, I thought, was upfront and honest, and the segment reporting more informative and transparent than it has been in the past. Given there's been a number of additions to the board recently with specific marketing and e-mobility experience, I would be surprised if the drive to growing the business were to change drastically with a successor.That said, this is still a big shock. I'm still holding but please no more surprises.

[castleford tiger] 27/4/2022 15:13

RCT
what if its a personal matter ? unrelated to the company.

That not market sensitive information.

I am speculating here but it could be lots of things.

Tiger

[rcturner2] 27/4/2022 14:52

CT, the company cannot use an NDA to block the release of market sensitive informtion, the directors would be in court before long if they did. To say nothing is criminal in my opinion and I have to say that my confidence here is pretty shot.

[castleford tiger] 27/4/2022 14:34

Tiswas

I find it incredible that a poster, and shareholder I believe, can categorically state that that there is "no crisis or black hole" and the company can not

Can I suggest you read what David posted. He did not say that but likely was the word used.

Todays news is a shock however there will be a NDA in place for both parties.
Therefore the company are limited to what they can say.

Maybe Jim had taken the business as far as he could and there was pressure from holders..........best leave this for now.
Clearly there was a disagreement about something but this happens all the time.
Jim has 260000 shares so plenty of interest to see TND do well.

However on top of the other headwinds its another reason for those negative on the company to have a pop.
To build a holding you have to go through good and bad.

There are discussions on going today between the key players.
I am sure like David its nothing to worry about but its unsettling for holders and the shares are off 10%.

I will continue to support the company and buy more shares when I can after adding 20k recently.

There is now huge upside available in my opinion.
Jim whatever the future holds I wish you well
Tiger

[dangersimpson2] 27/4/2022 13:40

Probably the most important unanswered question is will he sell some or all of his 4.7% in the company?

In these sort of situations, if it was an unplanned exit the leaving director tends to sell all their shares and go for a clean break from the company.

Doesn't change the long-term valuation, but in the short term, a 4.7% overhang in a fairly illiquid stock could see quite a lot of selling pressure.

[gaffer73] 27/4/2022 12:33

Strange. Sounds like he was going to be sacked but chose to leave beforehand.

[our haven] 27/4/2022 11:40

The market never likes uncertainty and we have bags full of it here.I can only assume that the company has its hands tied in relation to what it can say as they would have known how the market would react.Hopefully, they will be able to issue another RSN soon so we can access the financial implications.

[tiswas] 27/4/2022 11:20

I find it incredible that a poster, and shareholder I believe, can categorically state that that there is "no crisis or black hole" and the company can not.

Perhaps you could also explain why it is all happening in the space of 2 weeks, why he has not been thanked for his many years, why no reason has been given and why succession planning only now seems to have got underway?

Tis (no holding sold out on first warnings of supply chain issues but watching)

[harrogate] 27/4/2022 10:35

Thanks for that. Maybe they could communicate a bit better then as this mornings RNS was shocking.

[davidosh] 27/4/2022 10:31

Steve Grant was in the role for years and there is nothing that has been found that is finance linked (Jim was the FD for many years) I suspect it is a simple case of sometimes the move from FD to CEO just does not work and maybe Jim was not comfortable in that role. Maybe the pandemic has affected his thinking and he wants to do something different after 20 years at Tandem!

They have a good team and we saw Phil and David showing the depth of management on Monday evening.

These decisions and challenges come along at every company and Tandem is no different but likely no crisis or black hole.

[hpcg] 27/4/2022 10:09

6 May is not today, so can't be serious misconduct. Clearly a negative though: if he was doing a good job then there is a risk his successor may not, if he was doing a bad job then there could be some nasty surprises. It is a lot easier to watch as a non-shareholder that is for sure.

[cwa1] 27/4/2022 09:05

Sometimes the simple truth is less bad than the speculation. Unless there's a legal reason the company should definitely inform us of the general reason for this. Even if it IS for legal reasons, that should be stated and left at that until more can be said

[actscap] 27/4/2022 08:34

No explanation. V disappointed :(

[my retirement fund] 27/4/2022 08:27

Things clearly not what they have seemed here.

[effortless cool] 27/4/2022 08:21

A very abrupt and uncelebrated departure after twenty years' service at Tandem.

[cwa1] 27/4/2022 07:34

Certainly sudden and no "thank you" message :-

Directorate Change

The Board of Tandem Group plc (AIM: TND), designers, developers and distributors of sports, leisure and mobility equipment, announces that Jim Shears, the Company's Chief Executive Officer, is due to leave the Company by mutual agreement and resign as a director of Tandem on 6 May 2022.

Stephen Grant, the Company's Non-Executive Chairman, will assume an interim executive role.

The Board has commenced a process to identify and appoint a new Chief Executive Officer and will provide further updates in due course.

[rcturner2] 27/4/2022 07:33

Ok so that is not good news and sounds like misconduct or similar.

[castleford tiger] 25/4/2022 18:04

So a summary
Price increases passed on.
2022 fully hedged at 1.36 $ ( currently 1.28 )
Shipping costs down 10 k usd per load.
Cost savings direct by closing Northants 250 k minimum plus a possible big increase in assets as commercial property has increased strongly over last year.
I think NAV will be £30 m plus for sure next year.
Directors seem comfortable with current headwinds and are across them.
I feel the company could be gearing up for a big 2023 if we can control the energy costs for punters

[davidosh] 25/4/2022 16:19

Only 45 minutes to go before the interview with Phil Ratcliffe and David Rock so do join and give me your questions although I do already have ten.

There will be over 200 investors attending and these are very popular shows with company presentations, fund manager and investor interviews, and panel sessions.

Tickets are still available and if you would like one at half price then enter the code MMTADVFN50.

[castleford tiger] 24/4/2022 11:57

I love ours. Superb and we use all the time.

[darrin1471] 23/4/2022 17:25

I don't own TND currently. Noticed them as I am thinking of an electrically assisted bike and the tandem showroom is only a 10 minute drive from my home and work.

[darrin1471] 23/4/2022 17:19

We have lived through a golden age where China has industrialised and educated with a managed currency producing better products at ever lower prices which has not been truly recognised in the western inflation figures. During these 20 years China's wages have increased steadily every year. Doubling between 2012 and 2020. Chinese workers expect a 5-10% wage rise every year even when the prices of goods are falling. Yes other living costs have risen. When a population is used to 5-10% every year it is very difficult to change the mindset.

[darrin1471] 23/4/2022 17:18

12 month fall in £v$ is something else adding to costs
It could lead to higher than predicted interest rates if it continues.
I can see inflation averaging above 4% over the next 5 years so mortgage rates on 2 and 5 year fixed rates are likely to be significantly higher whenever they are renewed. The economic slowdown is likely to be long and drawn out.

[amt] 22/4/2022 20:06

I stand corrected about Mortgage rates. I hadn't realised that 45% of mortgages are fixed 5 year and 75% fixed overall. Even so there will be people coming out of Fixed mortgages who will find it much more difficult going forward. I do believe that energy prices have peaked and technology will drive cost down in the medium term so 2 or 3 years from now I can see a much better position for the UK and Global economy.
No I am not selling.
I am a longterm shareholder and will ride out the bad times.
Tandem has a very strong balance sheet so providing they can generate profits all is well. The shares have already discounted a deep recession in my opinion.
Valuation not far off Net assets.
In times like these cash is king and they have plenty of it.

[hpcg] 22/4/2022 14:31

Yes, I sold all my shares. Not sure why people will cut pubs and takeaways but not garden furniture and barbecues. All discretionary is going to he hit. Then we have the whole China lockdown which puts question marks around stock availability. Which may have its advantages, but not if it means much higher prices.