Share Name Share Symbol Market Type Share ISIN Share Description
Tandem Group Plc LSE:TND London Ordinary Share GB00B460T373 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 170.00p 160.00p 180.00p 170.00p 170.00p 170.00p 0 07:31:30
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Leisure Goods 32.5 1.9 32.3 5.3 8

Tandem Share Discussion Threads

Showing 4551 to 4573 of 4675 messages
Chat Pages: 187  186  185  184  183  182  181  180  179  178  177  176  Older
DateSubjectAuthorDiscuss
10/6/2019
15:50
Yes agree with all 7 David....with numbers 1 and 7 at the top of my list, and both clearly related points.
simso
10/6/2019
14:33
The majority
castleford tiger
10/6/2019
11:14
amt...I am merely suggesting that with an asset like the HQ building we do not need to have a 14x cover of the dividend especially with the increased profits and cash likely to flow through this year. Investors do not meet the company, see any research, forecasts or brokers notes so they stay clear. I merely want regular contact and presentations through thick and thin to show the directors actually care about shareholders and that there is a benefit of being listed. My own 'wish list' for external shareholders 1. Dividends to be increased significantly ((The cover is far too high) 2. Broker research and forecasts needed (The BoD do not want any) 3. Better shareholder engagement. (Not just once a year at the Agm) 4. Presentations to shareholders etc (None for nine years) 5. Independent Non Exec directors (None are independent under AIM & QCA guidelines) Additionally I know a number of shareholders on these BB's have also stated.. 6. Remuneration is too high for an AIM tiddler 7. Stop spending on wasteful acquisitions. So which of these do other shareholders on here agree or disagree with ?
davidosh
10/6/2019
09:16
Nice break out here, Strong performance leading to results
hatfullofsky
10/6/2019
07:39
David If the economy takes a big hit then relying on borrowing or selling the freehold as implied in your statement doesn't sound a good idea to me. Once you start borrowing from banks then a lot of time would be consumed looking after that. The banks also have an impact on strategy so to be avoided if possible. The economic outlook in my view is worrying. Not only Brexit paralysis or no deal but the dreadful prospect of having Boris in charge. The country and consumers are up to their eyes in debt. A very deep recession is quite possible. I don't think Directors or shareholders for that matter would accept a low opportunistic bid. The Directors have a lot of shares so like you will want a much higher share price that fairly values the company. I haven't attended the AGM it's too far to travel. I think they have a talented and dynamic board and an optimistic about the future. I am happy to let them get on with running the business and let the share price catch up with events. I don't think we will have long to wait now. A good trading update on the 27th and 3 quid should be in sight. If they can generate 3 m in profits in the year ahead and have a reasonable outlook then 5 or 6 quid would be reasonable. I have observed companies on AIM that spend too much time trying to push their share prices. It works for a while but over the longer term the only thing that matters are the financial results. The one exception being tech or pharma companies that have new products under development and then future potential governs the share price. I get the impression the Tandem management are very busy. Just look at the amount of activity that is going on in this business. New product designs and launches. Cost control against an unfavourable exchange rate. Complex supply chain management. New IT systems etc etc.
amt
09/6/2019
14:10
amt....I have bought shares over a very long period of time and supported the company by retaining my shareholding. The board have always refused to provide all the standard listed company information I have mentioned such as broker research, forecasts and presentations. Tandem will shortly have a HQ building that will be totally debt free and it is generating significant amounts of cash. The problem is that this cash does not find its way into the shareholders pockets and the long term returns until the recent share price move have been awful. If harder times come then we have the excellent security of that freehold and my fear is that if the company is valued so lowly then another company will see that low valuation and the assets and make a clever bid that incentivises management to take it leaving shareholders high and dry and without ever having their fair share off the returns. If you base an offer on the level of remuneration being paid out that already means that directors are not going to give that up easily and will need incentivising to do a deal so shareholders will be the ones losing out. Is that not a reasonable assessment? Have you ever attended an Agm? I have been to four nothing ever changes.
davidosh
08/6/2019
21:40
If you had bought shares over a longer period of time rather than buying at a peak you would have had a reasonable return. Its bad luck to have bought at a peak. Mind you the Aim index has gone from 3000 to below a thousand over same timescale so it's outperformed the market over that timescale. I am confident that if the trading update at the AGM is good the share price will head towards 3 quid. I do worry about the UK consumer though. If the current Brexit paralysis continues or things get worse. Corbyn being elected for example. A collapse in the pound could have huge ramifications for consumers. The country has massive debt to finance and if interest rates are pushed up to save the pound the interest on that debt could become unsustainable. In those circumstances an economic collapse could occur. The last economic crisis was greatly cushioned by borrowing collosal amounts of money. The next one that's not going to be possible. Let's see how a post Brexit world pans out before we asked for higher dividends. In these circumstances companies will need strong balance sheets to survive. Now is the time to build a strong balance sheet while the going is good.
amt
08/6/2019
14:15
There must be quite a few investors who just read these boards but do not post as I have had quite a lot of communication and a few seem to be keen to attend the Agm and are sorting out their paperwork and letters of representation. It is rather ridiculous in the technology driven world that we can build tunnels underneath London and the English channel that run twenty miles and more and send people to the moon but we cannot buy shares and attend a annual meeting without brokers wanting to charge a fortune just to prove you actually bought the shares in the first place. We should all have a unique ID number and be able to vote electronically and also use that ID number to show we are entitled to attend. Why is everything sent via nominees so that we receive absolutely nothing and most investors and shareholders do not know when meetings are taking place? Tandem did not even provide an RNS to announce the meeting so I will be very impressed if a dozen shareholders attend. Whenever I have attended there have only been three or four of us there and if we only have 5% of the companies shares then the directors will suggest that we are alone in our views. If any of you are coming do let me know..... AMT.....Why not come along and put forward your viewpoint. If you check the charts you will see Tandem shares were £5.13 on January 1st 2000 and ten years later under the same and current board they were 79p apart from a brief surge when Andrew Burgess stirred things up the shares have been close to a £1 in all that time since and were just £1.10 at the start of this year. That is awful shareholder returns even including the tiny dividends...but my analysis shows that the board have not been hard done by and they still receive lots of share options whilst buying companies that have not delivered value. If we are and most certainly were undervalued then why did another company not simply come and make an offer for the company ? Maybe they did, maybe it was derisory and rejected, maybe the board of directors can shed a light on this at the AGM ! The facts are that Tandem is a tiny listed company and institutions are not interested so smaller investors are the only ones to put any money into the company. If the directors are not prepared to pay for research to be done and use recognised brokers that engage with the market and as they never do presentations.....How will investors get to understand the company, its strategy and future within its sector? Without that they just stay away and without a decent dividend even the income investors are put off as well !
davidosh
08/6/2019
12:09
No not me.......... I have added up for the AGM and in total i have over 155k shares. i need to check things out as this must be close to limit. Not sure how it works with some in various accounts but all one family tiger
castleford tiger
08/6/2019
10:10
Couple of larger trades reported over last two days.Have you being adding TIGER?
balcony
08/6/2019
10:02
I only pay 72 a year with redmayne bentley !! I sacked iii off after they destroyed the boards tiger
castleford tiger
07/6/2019
17:49
Davidosh. Not sure if I have got these numbers correct but it seems the share price Ten years was about 50p. So a 4 fold gain since then plus dividends of about 36p is a good return in my book. Ft index up by about 50% in the same period. Don't understand your comment about why bother to list the shares on AIM. I think having the people who manage a company incentivised by creating value and lifting the share price is important in my opinion. Employees can have an interest in their company also and realise any gains easily. Many companies on Aim go back to the market and raise funds through issuing shares and diluting existing shareholders which is a reason for having a listing. Fortunately Tandem haven't done that. They have done the reverse and bought shares back. Overall I am more than happy with my longterm investment here. Most of my Aim shares have been disasters. I think our main point of disagreement is how you get the share price up. My view is by producing good numbers consistently while perhaps you think by promoting the company to the market. Anomalies in valuation don't last that long. The market will take care of that over time. I didn't say there was shareholder distraction but there might be if they are pushed down that route again like happened a few years ago. I think the Annual and interim reports plus two trading updates per year is fine. They provide plenty of detail and tell it how it is. A short presentation at the AGM I agree would be a good idea. However getting brokers involved is expensive and a waste of money. It's up to individuals to make their own assessments. Forecasting in these markets is extremely difficult. If they go down that route of having brokers involved then a lot of time and distraction plus pressure to make short term fixes increases. Directors have plenty of shares which shows their commitment and direct interest in getting the share price unlike many other AIM companies by the way.
amt
07/6/2019
12:26
The data I have collected is across a ten year period not just in the past year and covers acquisitions, remuneration, profits, eps and dividends. It is not a pretty picture for shareholders and if we do not act now then the directors will continue in the same way for years into the future....Look at the options they have just granted to themselves....another 5% of the company. We do not have any institutional holders beyond Jupiter and I doubt that the directors spend more than four hours in a whole year speaking to shareholders. They do not take my calls and I am probably the eighth largest shareholders in the company ! Ironically half of the main holders are on the board so not exactly much shareholder distraction going on, is there? If they do not want to do presentations or provide any broker research/information on the company with no forecasts why bother being listed? What are we gaining by paying out around £100k every year on keeping an AIM listing and having directors who do not want the attention of shareholders or the market presence?
davidosh
07/6/2019
04:28
One of the reasons for the undervaluation is that over the years eps has tended to fluctuate and turnover has been impacted by a decline in the bike business. However in the last couple of years there are some very encouraging signs that the toy business is doing very well and the bike business is stabilising. If we get a decent set of results this year then the share price should be due for a major recalibration. Once the market cap gets to a higher level then it would get on to the radar of the bigger fund managers. It seems to me that the management of the company have been very proactive in running this business both through acquisitions in the past and continually driving the business forward with tight cost control and improving margins. Some companies put a lot of resource into attempting to drive their share price forward through presentations and close contact with investors and potential investors. This all takes time and takes resources away from running the business. When all said and done its the financial results and longer term trends that will drive the share price. I think we have to be careful not to divert management time away from running the business. It seems odd to me that people are complaining now just when things are looking promising. The share price up over 80% since the start of the year. We also have to remember that the UK consumer market is very tough at the moment and the falling pound due to Brexit is making it even more difficult. I think they need to build a war chest in case of disruption from a no deal Brexit or indeed a continuing paralysis in Brexit in general. The political situation is worrying and the prospect of a Corbyn government frightening in what it could do to the pound. Its certainly not the time to be paying large dividends. The yield is respectable as is the dividend growth. Now is the time for patience and to let the results do the talking. Always best over the longer term to let the management concentrate on running the business and let the share price take care of itself.
amt
07/6/2019
03:22
Just a reminder from my earlier post... NOTICE IS HEREBY GIVEN that the ANNUAL GENERAL MEETING of TANDEM GROUP plc will be held at 35 Tameside Drive, Castle Bromwich, B35 7AG on 27 June 2019 at 11:00 a.m. I requested a presentation at the Agm as there should be at least eight of us there and it is nearly ten years since they did any form of presentation. However the FD point blank refused to provide any presentation either at the Agm or any other meeting to engage with investors. He also added.... If you are a valid shareholder then you are welcome to attend the AGM on 27 June and in accordance with usual practice there will be ample opportunity at the end of the formal business of the meeting to ask any questions. If there are others who you know are planning to come along then they will also need to provide valid evidence of shareholder status to make them eligible to attend the meeting in accordance with the notice of Annual General Meeting dated 10 April 2019.
davidosh
06/6/2019
22:02
Agm should be interesting Tiger
castleford tiger
06/6/2019
21:53
davidosh, Tandem is completely uninvestable for me, the snouts in the trough from the fat cat directors mean that the economics of the business are skewed far too heavily in favour of the board and away from shareholders. Theoretically a business with Tandem's assets should be valued much higher by the market but it's sadly a value trap. You can see that just by looking at how much cash is diverted into the pockets of the directors and what a pityfully tiny dividend goes to shareholders. 18BT's suggestion to vote out the directors sounds great. Get rid of the Chairman and the non execs, halve the packages of the remainder, link bonuses to the level of dividends paid to shareholders, get a shareholder nominated NED on the board. All of that and some genuine focus on value creation from the CEO and there would be a sensible business to invest in! JakNife
jaknife
06/6/2019
18:46
I think that is a good summary davidosh. I have known Tandem for more than a decade, and been invested over most of that time..though more materially in the last year. My impression of the Directors is that they treat shareholders as an irritation...rather than respecting that they own the business. In terms of lack of shareholder engagement, they are in a league of their own, in comparison to any share I have ever owned. They have no interest in engaging with them whatsoever. They have pursued a "buy and build" strategy, and as you say an acquisition spend in your table of c£13m (or nearer £25m if you go back 24 years) has resulted in NTAV of £6.5m, and the market's judgement is that business is worth less than £10m. Value destruction. The repayment profile of their senior loan require a final "Bullet" payment of £1.2m next year. I had a scintilla of sympathy with the modest dividend policy to date...as they clearly need to be comfortable that net cash at its weakest point in the cycle can afford that bullet payment, meet Pension Fund obligations etc. However, with the improved trading and increasingly strong balance sheet..I believe they should be paying at least half of EPS as dividend. I believe they could deliver 50-60p EPS this year if the improved trading from H2 2018 continues through 2019. If they paid a dividend of 25p - 30p...then I am sure the share price would be closer to £4 than the £2 it sits at today.
simso
06/6/2019
18:19
David - the Board salaries are listed in AR Note 5. And I've found the AGM date in the accounts - unfortunately the day of my son's graduation (hopefully), but I can still vote.
18bt
06/6/2019
18:13
Staggeringly the AGM date doesn't seem to appear on the corporate website. When is it? The website does say: The Company applies the QCA Corporate Governance Code, please click here for the Chairman’s Corporate Governance Statement, and the Company’s Statement of QCA Principles. That statement then goes on to claim that the 3 NEDs are independent. That is clearly not the case: Keene - Chairman - appointed June 2010, so has done 9 years as Chairman, but was an exectuvie director since 1993, which under the UK Code rules, requires justification Morris - NED - appointed March 2010, so has done more than 9 years Bestwick - appointed April 2010 so has done more than 9 years I will be voting my small number of shares against the re-election of all of them. Perhaps Jupiter are the key to this with 10%.
18bt
06/6/2019
14:49
I have been a shareholder since 2004 and the current management have been there all the time I have been a shareholder....additionally the chairman has been involved in all these purchase deals done over the last twenty years... 1999 Pot Black £900,000 1999 Two wheel trading £900,000 2001 Dawes £500,000 2002 Ben Sayers £1.1m 2003 MV Sports £4.3m 2013 bought freehold £2.6m 2014 ProRider £2.5m 2015 ESC £2.1m Total acquisitions.....£14.9m Net Tangible assets are now less than half of that and it includes a freehold property. The value added by this management team is clearly viewed by the market as negative with the market cap still only £10m even after the recent rise. Where has all the value creation and any profits gone ? Total Board remuneration over last ten years has been nearly £7m and if you include options granted is nearly £1m per year. In the AR. the individual directors salaries are not listed but total board costs in 2017 were £1062 and in 2018 a bit lower at £960k. The average net profit for the whole company over the last five years has been £1.35m per year. There will not be many boards who then award themselves nice option packages on top of such generous remuneration. The non executives have been in place for ten years and are the remuneration committee and must feel this is appropriate. Along with many shareholders I disagree and will be at the Agm to put forward my case. I urge all shareholders to attend the Agm this year and put your case to the board as well. We have seen an increase in the share price but that does not mean it is the wrong time to consider change and I feel two new non executive board members are needed in accordance with good corporate governance and QCA guidelines. I also feel further acquisitions should not be considered due to the awful track record of growing the business.....Revenues are actually flat over the last five years despite two acquisitions costing nearly five million pounds in that time. Where is the proof that shareholder funds are being spent well? Finally I think that the dividend cover does not need to be more than twice and the dividend should be incresed to at least 15p to give shareholders an appropriate return on their investment. Any of you happy to add your thoughts ?
davidosh
04/6/2019
11:24
My first job was on tameside drive. True story.
deanowls
04/6/2019
11:07
Can anyone give me a reason why the dividend should not be at least 15p based on current earnings and outlook? I prefer the directors look at shareholder returns as they have shareholdings too. The comparison history of shareholder returns versus BoD remuneration versus market cap is almost the worst on AIM and there is no need for it. Total board remuneration not including share option awards has been nearly £7 million over the last ten years whilst the average market cap of the company has been only six million during the same period so it is obvious where the earnings are going and the rest of the earnings have gone into acquisitions that have cost more than the current market cap so not benefitting shareholders either. We need a board that pays itself less Pays higher dividends to shareholders Stops making acquisitions and delivers for all stakeholders.
davidosh
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