Buy
Sell
Share Name Share Symbol Market Type Share ISIN Share Description
Tex Holdings Plc LSE:TXH London Ordinary Share GB0008850470 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 73.00 - 0.00 01:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Industrial Engineering 43.1 -0.9 -16.3 - 60

Tex Share Discussion Threads

Showing 151 to 172 of 500 messages
Chat Pages: Latest  8  7  6  5  4  3  2  1
DateSubjectAuthorDiscuss
11/7/2014
13:09
The recent vote was 53% in favour. The paperwork for the offer reserved the right to come back with a conventional tender offer if the scheme of arrangement failed. 53% would have handed control to the chairman in a tender offer so this might yet happen (although a few may have sold in the market since) The question is, does he wish to have the hassle as he will still not have the full control he desires and it will probably draw attention of regulators after the failed scheme of arrangement and criticism from small shareholders. (I note the AGM statement did not give a breakdown of the vote and did not say resolutions were passed UNANIMOUSLY on a show of hands.)
aleman
04/7/2014
21:02
My reservation is that we have an executive which quite clearly is prepared to short change shareholders, time for those behind this exercise to fall on their swords.
rburtn
04/7/2014
19:12
Perhaps this will make the company wake up to the fact that there are shareholders ! I understand that they had so little regard for them, that those attending past AGMS held on the industrial estate were not even offered a cup of coffee!
bandari2
03/7/2014
11:44
Successful, but it's annoying the company has been so poorly advised, including by its non-exec directors. A needless diversion and waste of company time and cash
briangeeee
03/7/2014
10:21
Today's the day where we find out if small shareholders united have been successful.
lasmo
30/6/2014
16:45
May be of interest to others http://www.privatepunter.co.uk/Companies/weekly-column-july-1-2014
hastings
26/6/2014
16:12
Have Tex sold their 40 tonne hammer ? If so this would add several hundred thousand to this years pre - tax profits,and further illustrate the low value of the offer. Another cynical move by the bidder to deprive Tex shareholders of their rightful returns. Apart from the financials , morally this bid deserves to fail.
tuscan4
23/6/2014
18:45
Looks like Tex and Bidder have had their knuckles rapped by the takeover panel for not giving clear disclosure of all connected parties. I also wonder how the Directors of Tex can be seen as independent when they have to make a judgement with the chairman / major shareholder is sitting by their side.
lasmo
16/6/2014
15:18
AGM statement is the usual smoke and mirrors. Tex is desperate to hide the fact that profites this year will be £2m plus. No questions allowed at today's AGM.Hiding behind takeover rules..Tex Board must realise that a significant and growing number of shareholders are aware that the offer is inadequate, and that this Scheme of Arrangement will be defeated. The next offer(the Subsequent offer) needs to raise the exit price or they will end up without 100% control which is the LAST thing that Burrows wants. Vote to reject the Scheme of Arrangement
tuscan4
11/6/2014
11:58
Well, I've seen the document which is extremely light on trading prospects - none in fact, 'trading in line with management expectations', I'll bet. The only argument they use in favour is that it provides an exit.(they say this is why shareholders should accept) That's a pretty damned expensive exit at £1 for £1.44 of assets - and growing rapidly. This company increased it's NAV from 7.2m to 9.2m in 12 months and the bidders expect to take us out at a value of £6m! It's nothing like enough. Come on Guys, you must do a lot better than that!
rburtn
09/6/2014
14:47
I believe documents are being prepared for issue to shareholders, whether they leave us any the wiser is another matter.
rburtn
09/6/2014
13:28
My main gripe with the way this takeover is being handled is that the chairman & management involved have full visibility of the forecasts and future trading prospects. I believe that minority shareholders should be given access to a similar level of information so that we can make an informed decision. Until that happens I remain sceptical that it is in my best interests and as such will be voting against.
lasmo
09/6/2014
09:29
So, the Investors Chronicle thinks the bid is at a "decent" premium to the share price.Really! The Tex share price has been held back by several factors. Firstly in 2013 Tex had to make an exceptional one-off charge of over £1.0m relating to a difficult Oman contract(largely not Tex's fault). Secondly since RDR at the beginning of last year, a steady stream of selling by inexperienced advisors has weighed on the illiquid market in the stock. Thirdly the group cut the dividend in March at the moment Oman was 90% provisioned,the balance sheet was improving with modest gearing and the 40tonne hammer was on hire at a very healthy margin. We can now surmise why the dividend was reduced. A petty act which no other Fully Listed company would have dreamed doing.Finally in the May IMS,when the hammer hire had been extended,possibly to the end of June, and would likely on its own produce profits in excess of the whole of the groups reported profits in 2013, what mention was made of this amazing success? Not ONE word. We now know why. Instead there were platitudes that the group was ahead of budget. Without knowing the budget this statement is unhelpful. The question of Corporate Disclosure and Governance needs to be raised. Should not the "Independent Directors"have seen fit to appraise the Shareholders that their Company was enjoying a substantial improvement in its fortunes? And also to explain why a 100p offer still reflected a "fair" offer. Did westhouse Securities who have been associated with Tex for a matter of weeks,understand the full extent of the groups underlying profits?If so could they explain why a group which could make £2.0m pre-tax this year(more if the hammer hire is extended,or is sold,or finds work in the US in the second half)was only worth £6.3m An exit P/E of 4 and an EBITDA multiple of 2.7. Shareholders WAKE UP! This is UNFAIR. REJECT .
tuscan4
06/6/2014
18:34
Tex will produce Pre-tax profits of £2.0m this year EBITDA of £3.5m. 40 Tonne hammer is in Venezuela still earning significant profits and cash flow. Bid is opportunistic attempt to deprive shareholders of the profits bonanza now coming through. Reject. Without the bid stock will be well ahead of 120p when the Interims are announced
tuscan4
04/6/2014
16:54
Apparently some analysts are pencilling in pre tax profits of £2 million, after write offs for current year.The reality is the group is trading far better, with considerable revenue being generated by the 40 ton hammer.Opposition to the bid is growing,more shareholders are waking up , and it looks as if 15% plus of the shares may be voting against, as things stand.
bandari2
02/6/2014
08:29
I'm hearing that they have a very good margin project in South America which will add significant profit to this year's figures.
lasmo
01/6/2014
16:11
Shareholders should reject this offer , the share price was reflecting a poor past year, and was beginning to rise in anticipation of a better year next year. Most Tex shareholders have been invested for years and have been a pretty loyal bunch, they don't deserve to be treated in such a mean way. I will definatly vote against.
bandari2
01/6/2014
15:52
Lets hope so! I encourage all shareholders to reject this offer until the full facts are known. The AGM is in few weeks time. What does the year so far look like? I suspect that the Chairman, who currently holds 31% knows a lot more than we do. If the results are good enough to return the dividend to 7 or 8p, the share price could easily return to £1.20 and beyond. The current offer I believe to be less than 3 times EBITDA, I think we should be demanding of least 5 to 6 ie a target price of at least £1.50 per share.
lasmo
01/6/2014
10:36
If I've read it correctly, it's effectively the Chairman bidding for the company, to take it private, saving on listing costs and somehow on pension administration costs. Does seem a very mean bid, that should probably fail.
briangeeee
31/5/2014
23:56
Agreed. This is a very low offer. I have just under 1% of the shares and will definitely be voting no. They need to do much better.
lasmo
31/5/2014
19:55
In the last report the Chairman said they'd suffered a 1m drop in sales, it was actually 600k, they also cut the dividend which some would say was unneccessary. I found this difficult to understand at the time - I now discover the Chairman is behind the MBO! Thoughts of fiduciary duty cross my mind.
rburtn
30/5/2014
09:48
well done Aleman, you deserve a pint!
hastings
Chat Pages: Latest  8  7  6  5  4  3  2  1
ADVFN Advertorial
Your Recent History
LSE
TXH
Tex
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20201021 20:13:51