Tex Share Discussion Threads

[charo] 15/9/2020 10:39

This is a complete balls up.A merger with another group would serve shareholders better .Shareholders should fight this what do they now have to lose.

[battlebus2] 15/9/2020 10:15

Delisting as we all expected. Financing seems to still be in the mix.

[charo] 01/9/2020 11:47

confirmation of new executive FD suggests new financing agreed.

[charo] 25/8/2020 08:13

CBIL are available only when no other route.Remove this board renegotiate debt with burrows group,threaten cva,then emergency rights at possibly 25p diluting burrows .Move to aim which requires contrary to listing a nominated advisor.This advisor should ensure better governance.
Though aim team strangely reluctant to deal with some who clearly breach rules.
But better than nothing.
The group is a collection of disparate businesses many,often in burrows controlled properties , some need to be disposed.

[roberts2274] 22/8/2020 21:59

I see the landlord hasn't helped the 'critical cashflow position' by still getting paid in full
trade creditors have though (bet they are delighted)

£928k EBITDA LTM 30.06.20 (£688k of that is furlough income)
£2.15m loss after tax LTM 30.06.20

do the FCA have teeth, or do we just wait for an IP to pre-pack this for a £1 to the highest bidder.... Tone?

why not take out a CBILS in the interim, and repay some of the LeBas debt incurring 8% - perhaps spin that as being in the best interests of the shareholders at the expense of the crown. maybe listed business go to the markets for debt not CBILS, listed not listed? - any news or are you all frozen in time?

[charo] 14/8/2020 08:36

The problem remains the stranglehold burrows party holds over group.CR yes is a new and obviously qualified executive who recognises problem. He is not a director,only designate and lacks any real authority.
The financial and governance issues are fundamental in the reasoning of regulators to refuse and non acceptance of accounts.
Much more bad news yet to come.

[charo] 13/8/2020 15:19

Ad nauseum.

[charo] 10/8/2020 13:26

Mr gray is clearly out of his depth.

[charo] 03/8/2020 07:06

As I said this board are not fit for purpose.Not a mention of current position on relisting.

[charo] 03/8/2020 07:06

As I said this board are not fit for purpose.Not a mention of current position on relisting.

[tuscan4] 29/7/2020 07:37

Ideal opportunity for Burrows to acquire control . Rights issue say at 1 for 1 @ 30p.open offer. Very few shareholders participate. Burrows ends up with 75 percent a t a cost of c £2m. Then is required to make offer at 30p for remaining shares o/s. Just a thought.

[charo] 15/7/2020 08:24

How long can this farce be tolerated it is making a mockery of the listing rules and abusing the interests of the non concert party shareholders .

[coolen] 08/7/2020 23:58

Pages 30 and 31 of the accounts are interesting.

[roberts2274] 08/7/2020 22:45

tex-holdings.co.uk/investors/

Sorry, found the rns
FCA asking questions, company responding - bored

[charo] 06/7/2020 09:01

How this board can remain in place is beyond understanding.
The audit costs are staggering and one would hope the regulators will insist on resignations of most as being unfit.

[charo] 06/7/2020 08:25

Outrageous.

[charo] 01/7/2020 09:47

And still no RNS.

[charo] 25/6/2020 07:05

The TPR should look at the conduct of the le bas trustees in relation to their holdings in tex.
Is this being managed in best interests of pension or supporting interests of other parties.

[charo] 24/6/2020 20:24

A farce of an agm.This board has no shame.No reference to audit nor relating to relisting.

[charo] 12/6/2020 22:08

Burrows party need to end this fiasco.
Bid a pound and take it private.

[roberts2274] 11/6/2020 09:19

Agreed charo.
I suspect they were ready, the board didn't like them, now going back and forward with auditors and the filing deadline end June looming.
Filing late again on the cards? You cant de-list an already de-listed business.
"will let the minority shareholders know when we feel like it".. pathetic

[roberts2274] 11/6/2020 09:14

Agreed charo.
I suspect they were ready, the board didn't like them, now going back and forward with auditors and the filing deadline end June looming.
Filing late again on the cards? You cant de-list an already de-listed business.
"will let the minority shareholders know when we feel like it".. pathetic