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 0.00 0.00 0.00 - 0.00 01:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Industrial Engineering 40.4 -0.7 -9.3 - 60

Tex Share Discussion Threads

Showing 151 to 173 of 450 messages
Chat Pages: 18  17  16  15  14  13  12  11  10  9  8  7  Older
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!
I believe documents are being prepared for issue to shareholders, whether they leave us any the wiser is another matter.
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.
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 .
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
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.
I'm hearing that they have a very good margin project in South America which will add significant profit to this year's figures.
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.
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.
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.
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.
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.
well done Aleman, you deserve a pint!
Damn, I was watching this but the results must have slipped by me. Now this offer. Damn and damn again lol.
Hello! 100p agreed bid announced! Anybody else here? Seems very cheap to me. In fact, at about 2/3rdsd of NAV (no intangibles) and less than 3 times operating cashflow before working cap movements, I'd say it was derisory. I'll be voting against.
Trading ahead of last year's Q1 but sustained enquiries not converting into orders as well.
May be of interest to others taking a look.
Manufacturing volume in Q3 was -0.6% and Q4 was +1.2%. so H2 was about +0.3%. No fireworks there, then. January was +2.2% but it was against a very weak comparison month 12 months ago. Numbers look to be on the mend but I don't trust government numbers, particularly ahead of an election. Given the profit warnings around from UK small cap manufacturers in Q4 (AIM had the most warnings since 2009) and weakening index of small and medium businesses in the in the US FNIB survey, I don't think there is anything at all odd about TXH numbers. I can find little evidence of underlying strengthening in the UK economy apart from government numbers which often get significantly revised later once political capital has been made from them. Some of the biggest bellwether companies like packaging company Macfarlane, which has 20000 UK customers, have only shown meagre improvements. I think the recovery is being exaggerated for obvious reasons. (The exception is the housing sector where there is clear improvement in activity but that is only being achieved through mortgage lending up 30% in January - funnily enough spurred on by the government's help to buy scheme kicking in ahead of an election. What good is a debt-driven boom if it's actually just a debt-driven slight improvement with a tax-payer subsidy, and the sector with the greatest job growth is real estate?)
A bit concerning - manufacturing is booming currently and these should be showing a lot more growth imo.
Results out. EPS is down to 9.1p but cashflows still look strong compared to market cap which makes the slight cut in the dividend disappointing, although the yield is still over 5%. Good to see debt down by £478k despite capex exceeding depreciation by £353k. Still looks cheap at the current price to me. Net current assets below market cap is usually a buy indicator to value investors. I rang in the minor error in the results. See if you can spot it. I doubt it will mean a replacement RNS as it is only a small value discrepancy and does not alter the main numbers people look for.
Down 10% but no trades!
Results gone down well
mr burrows plaything.
Chat Pages: 18  17  16  15  14  13  12  11  10  9  8  7  Older
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