Tertre Rouge Assets Share Discussion Threads

[garth] 23/8/2003 00:35

s'pose TRA could lie dormant with the cash for 18 months - then re-licence the technology when the market matures?

[hari] 23/8/2003 00:28

So what are they saying.
"to purchase the issued share capital of TTL for a one-off payment of £1,150,000"

Are thay buying the technology or but not the company.

Then the "The Board continue to explore all options available for the business".
- what business if they sell off the technology?

No wiser here

Under the Heads of Terms, Valiosys has agreed to purchase the issued share
capital of TTL for a one-off payment of £1,150,000 subject, inter alia, to
satisfactory due diligence. The Board have granted Valiosys an exclusivity
period which will terminate on 15 September 2003.



The Board continue to explore all options available for the business but is
mindful of current trading conditions and the cash balances available to the
Company.

[ti] 23/8/2003 00:19

What does todays announcement mean ?

Thanks.

[hupper] 23/8/2003 00:07

I'm out , I'll wait and see if Valiosys (French firm) lists on the Paris stock market, they look like they have a bargain.

[capricorn_1] 23/8/2003 00:07

I don't fully understand the detail behind today's announcement, and have therefore decided to bail out. Great, and more certain opportunities elsewhere right now in the TMT world. Good luck to all, and I'll watch TRA from the sidelines for now.

[garth] 23/8/2003 00:06

What is the meaning of the exclusivity period? Does this allow them to finalise within that time else sale gets thrown wider?

G.

[offerman] 23/8/2003 00:01

The problem is that their technologies are far in advance of there time,and timing has been wrong with the recent stock market turmoil(last 3yrs).Very cyclical stock who has just been so unlucky with the timing,now things are starting to look better with techs,seems like tra just couldnt hang on a bit longer so needed to sell their technology well below what its worth just to stay afloat(not sure doing what though)!!Anyone any suggestions where it goes from here???

[lucky777s] 22/8/2003 22:34

Will the last one out turn off the lights...

[gerry2] 22/8/2003 20:54

last straw today .

[tech] 22/8/2003 19:49

I would get any money you can get now. This is the last chance before the trading is likely to be suspended. Goodbye Transeda

[sugarbeast] 22/8/2003 19:07

tiger1234

my understanding of company law,which is by no means thorough,is that the directors can recommend this offer to shareholders,if and when it happens.
I do not believe they can present it as a fait accompli.

[tiger1234] 22/8/2003 18:32

One further disclosure that should be made immediatley is 'what interest will the current directors of TransEDA plc have in Valiosys post sale?'

[tiger1234] 22/8/2003 18:28

The point I don't understand about this announcement is the statement "Valiosys was granted an exclusivity period until Sept 15".

It is patently clear that TransEDA has developed a product that is ahead of the game and it;s demise is solely as a result of current market coditions in that sector. If the directors consider the company is in such a state to justify a sale at the equivalent of 1.6p per share then they are equally responsible to the shareholders to obtain as high a price as possible for what is considered to be an exceptional product. An exclusivity period precludes a higher offer being made until after Sept 15. How is this condition considered to be in the best interests of the shareholders, and should not the shareholders have been considered by way of a vote as to whether this condition should be considered acceptable. Most shareholders would reluctantly accept that if a company is in financial difficulty the directors, on behalf of those shareholders, should announce the fact and put the final decision to a shareholder vote.

Are the directors saying that if another company came in before Sept 15 and said they would be prepared to pay the equivalent of 2p or 3p per share the company would refuse it on behalf of the shareholders in favour of an offer of 1.6p!! What is the sense of that and what is the specific reason for the directors agreeing to such a clause.

TransEDA plc will now effectively be a cash shell with £1.15 million cash. The agreement by the directors in respect of today's announcement cannot be considered acceptable and their accountability to the shareholders will be judged by the shareholders and the FSA on making sure that the company retains it's Stock Market listing and it's cash balance if the deal goes through.

The directors must immediately disclose their intentions re TransEDA plc.

[loweee] 22/8/2003 16:40

It makes you wonder why Jenny upped his holding 10 days ago!?

[jmk4] 22/8/2003 16:23

Not one for the faint hearted but surely there is time for there to be further interest in this cutting edge technology. Perhaps the announcement may drum up interest from other parties. There is more action to come here for sure

[opthalmist] 22/8/2003 16:13

Don't mention MBD , painful memories!

[jay aitch] 22/8/2003 16:07

I'm out, too risky to stay in. Remember SWD, MBD

[offerman] 22/8/2003 15:04

Some still buying Ivor,God knows why,maybe they`re mates with jenner.

[ivor whopper] 22/8/2003 15:02

what a crock, hope you all bailed out.

[ivor whopper] 22/8/2003 15:02

what a crock, hope you all bailed out.

[lucky777s] 22/8/2003 14:54

Hey gmoney - that is the best comment I have seen all year!

lol!