Tellings Golden Miller Share Discussion Threads

[stewacg] 20/12/2007 17:49

Mm... Not a good price for shareholders methinks. I bet Arriva are pleased with having pulled this little deal, paying just above the asset price for a profitable company (£0.5m at Interims) in a growth area (buses/public transport). Arriva, by contrast is valued at 7 times net assets and 15 times last year's profits.

The Chairman spoke of the offer being good in current market conditions but in reality things were looking up for this company. I'd love to hear the non-exec directors spin on this little deal. If anyone doubted that they were in recovery mode, have a look at the 5 year share chart.

[barn owl] 20/12/2007 15:02

Well there we are out at 45p! Well done to those buying in during the summer months. I'm sure there will be a few more undervalued small cap shares, ready to be taken out in 2008 and beyond. Time to put my stockpickers eye glass on me thinks!
Good luck all.

[wiganer] 26/11/2007 19:37

31p on the bid. Even nicer.

[wiganer] 05/11/2007 15:07

30p on the bid. Nice.

[2trying] 04/11/2007 18:42

happy to see it rise - obviously

but why has it risen ?

no big trades - no news

what am i missing ?

[wiganer] 04/11/2007 17:14

Great trend reversal.

[2trying] 16/10/2007 21:37

so it it impossible for someone to bid ?

[wiganer] 16/10/2007 21:34

Directors own a load.

[2trying] 16/10/2007 20:16

what i can't find
( probably 'cos i'm thick ) - is details of shareholdings
eg -
fred bloggs owns 3%
x investments owns 9%
etc....

anyone point me in the right direction?
thanx in advance !!

[wiganer] 16/10/2007 18:28

Well, it's been a long old wait, but I think things are looking great again now.

[alby220] 16/10/2007 10:33

TELLINGS GOLDEN MILLER GROUP PLC ACQUISITION OF OFJ CONNECTIONS LIMITED The board of Tellings Golden Miller Group plc ("Tellings Golden Miller" or the
"Company") is pleased to announce that it has today completed the purchase of
the entire issued share capital of OFJ Connections Limited ("OFJ") and the
remaining 25% of the issued share capital of OFJ Ground Services Limited
("Ground Services") (a 75% shareholding in this business was purchased in
February 2007) from OFJ Group Holdings Limited ("OFJ Group").
In January 2007, the Company sold its Aircrews business to OFJ as the Board
felt that this business did not have a large enough share of its market at
Heathrow airport and hence had limited growth prospects. The Aircrews business
was integrated with OFJ and together the businesses have a significant market
share at Heathrow airport.
OFJ is a principal operator of air passenger and aircrew transport at Heathrow
airport and Ground Services has a high quality engineering facility at Heathrow
Airport involved in the provision of engineering maintenance and repair
services to third party airline ground equipment as well as the OFJ fleet and
the Company's London based fleet of 60 vehicles.
OFJ has a fleet of approximately 120 vehicles and employs approximately 214
staff. OFJ provides transportation services to passengers using Heathrow
airport as well as to a substantial number of airlines operating out of this
airport. OFJ also has several non-airport related contracts and is a provider
of transport services to several large schools in the Heathrow area.
In the year ended 31 December 2006, OFJ's turnover was £7.3 million and profit
before tax of £2.1 million. Net assets as at 31 December 2006 were £2.2
million. Sales in 2007 will benefit from OFJ's acquisition of the Aircrews
business in January 2007.
Formed in 1999, OFJ's business has expanded considerably in recent years and
this expansion has continued into 2007 with the addition of the TGM Aircrews
business referred to above.
The consideration paid for OFJ is £5.15 million in cash (subject to adjustment
in the event that net assets of OFJ are below an agreed figure) financed from
the Company's own resources, directors' loans and bank debt of £4.5 million
repayable in tranches up until 31 August 2012.
Mr Andy Nicholas and Mr Dennis Morris co-founders of OFJ Group will continue
their association with OFJ with Andy Nicholas becoming a consultant to OFJ and
Dennis Morris continuing as a director.
Stephen Telling, Chairman of the Telling Golden Miller, commented:"I am delighted to announce the acquisition of OFJ which is a highly profitable
company with a significant share of a growing niche market. Following the sale
of our core London Bus Division in 2005, and having reshaped and improved
performance in our remaining transport businesses, the acquisition of OFJ gives
us a clear new direction of specialising in growing niche transportation
markets such as Heathrow airport. We will work on integrating OFJ with our
existing businesses with a view to increasing profitablity."Enquiries:Tellings Golden MillerStephen TellingTel: 020 8757 4700

[wiganer] 05/9/2007 12:22

Very encouraging results.

[alby220] 13/8/2007 16:18

below is the link to the new tellings/ofj web site

[wiganer] 30/5/2007 16:45

Interesting little tick-up on a day when the market is a sea of red.

[nealcowan] 03/4/2007 09:19

Wiganer
I agree
I trust the management here. Made a tidy profit last time round before sale of business. I think they will do something similar again but may take a while but that is how most profits are made

[wiganer] 03/4/2007 07:15

Good figures. Continuing operations now back into operating profit. Well poised for a major recovery.

[thepinkpanther] 27/3/2007 14:41

FIXED ASSETS

Intangible assets 812 840 829

Tangible assets 21,341 20,527 20,586

_______ _______ _______

22,153 21,367 21,415

_______ _______ _______

CURRENT ASSETS

Stocks 322 325 364

Debtors: amounts due within one 5,990 7,192 5,525
year

Cash at bank and in hand 615 16,250 352

_______ _______ _______

6,927 23,767 6,241

CREDITORS: amounts falling due (9,775) (9,752) (8,327)

within one year _______ _______ _______

NET CURRENT ASSETS (2,848) 14,015 (2,086)
(LIABILITIES)
_______ _______ _______

TOTAL ASSETS LESS CURRENT 19,305 35,382 19,329
LIABILITIES

CREDITORS: amounts falling due (7,825) (8,606) (7,695)
after more than one year

PROVISION FOR LIABILITIES (1,621) (1,876) (1,657)

_______ _______ _______

NET ASSETS 9,859 24,900 9,977

_______ _______ _______

SHARE CAPITAL AND RESERVES

Called up share capital 1,763 1,763 1,763

Share Premium account 2,864 2,864 2,864

Profit and loss account 5,232 20,273 5,350

_______ _______ ______

SHAREHOLDERS' FUNDS - EQUITY 9,859 24,900 9,977
INTEREST
_______ _______ _______

Equity interests 9,702 24,743 9,820

Equity interests in - - -
subsidiaries

Non-equity interest 157 157 157

_______ _______ _______

9,859 24,900 9,977

_______ _______ _______

timanglin,

not sure where u got your numbers from either, anyway that's the beauty of the market

everyone reading from different hymn sheets

not a holder.

[timanglin] 23/2/2007 13:52

Hi Wiganer - I am trying to understand what has been happening in the last 2/3 years and your statement that the company 'is valued at + 4.2m'. I quote from the interim results 'net debt at 30/6/6 is 13.37m...' assets stated at the time approx 9m+. Am I missing something? this posting is made in good faith and could be wrong... dyor...

[mercenary] 25/1/2007 08:59

Checked the trades for the last few days-small buys -NO sells,but then no price movement until yesterday UP 1/2 p DIZZY HEIGHTS!!!!!

[wiganer] 19/1/2007 14:56

Strip out the cash from the Aircrews disposal and the company is valued now at just over £4.2m. Absurd.

[wiganer] 04/1/2007 08:02

RNS out:


Tellings Golden Miller Group Plc ("Tellings" or the "Company")

Disposal of Aircrews business

Further to the announcement on 12 December 2006 that the Board of Tellings had
agreed in principle to sell the assets of its Aircrews Business to OFJ
Connections Limited (the "Disposal"), the Board is pleased to announce that
completion of this Disposal took place on 31 December 2006.

The consideration for the Disposal totalled approximately £1.1m and was paid in
cash on completion. The proceeds will provide additional working capital for
the Group. In the 6 months ended 30 June 2006 the Aircrews Business had
turnover of £1.7m and made a profit before taxation of approximately £Nil. Net
assets were £1.3m comprising mainly vehicles.

The Aircrews Business has been sold as the Board believed that it needed
greater critical mass and economies of scale to achieve its full potential
profitability and there were limited opportunities for expansion, OFJ being the
only other major operator in the London area.

Enquiries:

Stephen Telling

Tellings Golden Miller Plc

Tel: [phone]

Tony Rawlinson, Nominated Adviser

City Financial Associates Limited

Tel [phone]