Tandem Share Discussion Threads

[pireric] 29/4/2022 10:54

We can all make excuses for what has happened here but the way he has left and the RNS seems to me to be quite clear - at a minimum - that there was a falling out between some parties.

The no explanation is deliberate. The company cannot be so daft as to know that huge questions would be asked by shareholders. So rather than deliberately choosing to say why, I view it that they deliberately decided not to say why. And I cant see how that is good.

Ive long stopped giving corporate communications at any company the benefit of the doubt years ago (e.g. the advisers said short and sweet with no explanation so we did that). And I'm probably better off for it.

Eric

[tiswas] 29/4/2022 10:49

CT

That's all very well but you are a part owner of that business through your shareholding. Currently I am not.

If I was, I would want to know why my CEO is leaving at the drop of a hat! I am surprised that a knowledgable and active investor like yourself does not.

And I actually do not believe that it happens like this every day without explanation. At least not in the many companies where I have a shareholding.

[castleford tiger] 29/4/2022 10:34

I certainly do.
As I said it could be that he wanted to follow a different route and the BOD refused so he left.
That happens every day without detailed explanation.
My point was that it was not a negative for the business.
People have theories and those who dislike the business have him setting up and nicking all their customers!!
This is not a market stall .
He has a million quid invested so he clearly still backs the business.
It was not worded great but that happens.
Ignoring the fact Jim has left the business is in great shape and developing fast.

[tiswas] 29/4/2022 10:19

bwm2

There's the rub.

Because we have no idea as to why he has left the company suddenly, other than reassuring hearsay from certain shareholders, we do not know if:

He thinks the share price is cheap.

He intends to support the board as a 5%+ shareholder.

He intends to be an active shareholder watching from the sidelines.

He has a buyer lined up for a block.

He intends to use it for him or another player to launch a bid!

All total speculation on my part but do the "there is nothing to see here" shareholders still not see the issues that the rns raised?

[bwm2] 29/4/2022 02:28

And he has sold zilch!

[rcturner2] 28/4/2022 18:30

So it's either something suspicious or it's just terrible communication have I understood this right?Can people not see that both are bad?

[castleford tiger] 28/4/2022 09:37

saltraider

The chairman explained that an agreement had been signed by both parties. That's not price sensitive information.
You could call the company and ask the question.

David sharing what he was told was because he contacted the company.

I think people are looking for issues here.
We will never be sure what's gone on but if it was company related it would have been mentioned.
As I say I feel a strategic decision and at this stage best not speculate further.

Hopefully in time all will become clear.
We have a great company here now valued at less than its net asset value.

tiger

[davidosh] 28/4/2022 09:05

Jeffian.... Don't shoot the messenger !

That was from the chair and he did not seem concerned. I have had a nice message back from Jim after wishing him all the best for the future and he seemed relaxed too.

I suspect it is a personal matter and not going to affect the company other than we need to find a replacement CEO that can build on what we have and take advantage of the opportunities ahead.

[jeffian] 27/4/2022 23:09

"Apparently the company advisers said nothing should be added so thanking Jim was excluded."

Oh, David, what bosh. When have you ever seen the planned and mutually agreed replacement of a senior long-term Director without kind words about his service and contribution to the company? Red flags -
*out of the blue
*short notice
*no succession planning

Like everyone else, I have no idea what's behind this but whatever it is, it isn't good.

[davidosh] 27/4/2022 22:39

MRF.....Jim would have a non compete clause in his employment contract and I really do not see that as a possibility anyway. It is who is appointed next that will be important from here.

Anyway I have never seen this forum so well attended and lots of posting so just to mention...

Tandem intend to have a stand and products on display at Mello2022 next month. The average Mello investor is certainly the right demographic and target potential purchaser of an E-bike. We also have an interesting speaker from the future of electric motorbikes and there is much to look forward to.



As Tandem shareholders I am happy to give you all a whopping 55% off ticket prices, by entering the code AP55 when purchasing. There are limited tickets available at that discount which is our best rate available. It is our first physical show since November 2019 and likely to be a sell out.

Additionally those who purchase a MELLO2022 ticket will also be able to bring a friend, relative or partner on the final day, Thursday 26th May, for just £20! (Discount code can be found in your order confirmation). I think there is a very good possibility that an E-bike will be up for grabs in a competition on the final day so win/win

[saltraider] 27/4/2022 22:26

@CT ... so you are saying one shareholder (David) has and is using (price sensitive) information ... yet the company is saying nothing to the market. If that's true, it's a serious breach.

I doubt it ... to be honest. I think davidosh is talking his book on the basis of no information whatsoever. At least, I hope so.

[shanklin] 27/4/2022 22:25

Yes very poor from the NOMAD

[castleford tiger] 27/4/2022 21:54

MRF he has almost a million Quid in tandem and you think he wants to compete with them?
I can’t see that. With his options he was pulling 300 k plus a year.
My guess is a disagreement and the board failed to back him.
Does it matter?
He has gone but the company will be just fine . David has the information and it looks like an agreement was signed.
It’s done .
Time to move on
Tiger

[my retirement fund] 27/4/2022 21:39

OK I'm going out on a limb here and making an intelligent guess given the abruptness and secrecy: He is leaving to start his own business in direct competition with Tandem. Given his track invaluable knowledge, in time he may well poach many of Tandems small and big account customers and of course he will be using many of Tandems existing suppliers and manufacting partners.

[cwa1] 27/4/2022 19:21

If that's what the company advisers genuinely advised-and there is no other substantive reason-then I reckon it's time to get some new, improved, advisers IMHO

[davidosh] 27/4/2022 19:15

Apparently the company advisers said nothing should be added so thanking Jim was excluded. Less was more in their eyes. I am afraid sometimes advisers get in the way of what investors really want to gain comfort from and in the end it can all seem far worse than it actually is.

I have been in touch with Jim to wish him well and also had a courtesy call from the chair and although I know no more than what was announced, nothing has given me any concern.

A mutual confidentiality agreement was signed between the parties and whatever the difference it is certainly not one that is giving the directors concern and did not need anything further than that said.

[harrogate] 27/4/2022 18:29

The fact that we are all guessing in this way shows what a horlicks they have made of this.

[hpcg] 27/4/2022 18:25

My only potential explanation I have for the combination of near immediate and no thanks is that he is leaving for a direct competitor. Even then a thanks for long service would still be conventional. Also a company would tend to use language like "leaving to pursue other opportunities" to make it clear it isn't malfeasance or performance related.

[shanklin] 27/4/2022 18:06

It’s also interesting that Jim Shears will continue to be a director until 06-May-22. To me that would seem to rule out gross misconduct. So why no thank for his efforts over 29 years?

[my retirement fund] 27/4/2022 17:49

I'm trying to think of the last time in my 30 year investing career when a CEO abruptly left without a sensible explanation and it turned out to be nothing detrimental but alas, I cannot think of a single instance.

[saltraider] 27/4/2022 17:38

It all seems to point to bad news on the way. That's the inference I draw, anyway. The company has encouraged me to do that.

[tiswas] 27/4/2022 17:28

CT

Okay, so if the reason for him leaving could be a lot of things what is the most likely reason for someone who has been with the company for 20 years not receiving a single word of thanks/best wishes for the future?

[saltraider] 27/4/2022 16:56

@RCTurner2 ... too right!

If there is nothing to worry about, the RNS could have made that very clear without infringing the CEO's right to privacy.

There may be nothing to this ... but the fact that the company has not made any effort to indicate that this is the case is a red flag as far as I'm concerned.

I used to hold but have no skin in this game currently.

[rcturner2] 27/4/2022 16:49

CT, then its very easy to say "the CEO is retiring for personal reasons and we thank him for his 20 years of service etc." The fact that they said neither of these things suggests something quite serious to me.