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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Tge Marine | TGE | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 2,350.00 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 2,350.00 | 2,350.00 |
| Top Posts |
|---|
Posted at 22/10/2009 07:49 by pelleeds1980 Contract award:----------- Contract for new 12,000 cbm LPG-carrier TGE Marine AG is pleased to announce that yesterday it entered into an agreement with a Shipyard belonging to the Sinopacific shipbuilding Group China ("Sinopacific") for the engineering, procurement and construction supervision for a 12,000 cbm LPG-carrier. TGE's work on the contract is targeted to commence at the end of November 2009 and covers the complete gas handling system including the cargo tank material package. Delivery is expected to be effected by the end of 2011. The revenue generated under the contract for TGE is in excess of Eur7.0m. The shipowners have agreed an option with Sinopacific for the production of a second ship and accordingly, Sinopacific and TGE have agreed an option for the engineering, procurement and construction supervision of that second ship, which is valid until the middle of March 2010. Manfred Kuever, CEO of TGE commented: "We are pleased to sign a further contract with our business partner Sinopacific after a long trough and in times when it is very difficult to secure financing of new shipbuilds. This financing for the acquisition has been provided by a facility granted from a large Chinese financial institution." --------- I did email them last night about the tender Ill let you know if (big if) I get a reply, just asked if they will RNS re: the offer |
Posted at 21/10/2009 09:03 by andrbea my broker has sent a form to me today to tender my shares, by Oct 29, as the de-list is coming on Nov 3.tender offer: 3750p a share So why don't tge confirm that they recommend shareholders take up the offer? It's getting kinda urgent... |
Posted at 19/10/2009 07:18 by andrbea stick I reckonisn't it a win-win anyway? we either get the offer price, which is roughly what our shareholding is worth. or tge reject it as derisory and hold out for more (which should help the price) nia dyor |
Posted at 18/10/2009 19:34 by pelleeds1980 Yeah deadline from Halifax is 22nd October i.e. Thursday, really not sure what to do if TGE isn't going to respond. Stick or twist?! |
Posted at 16/10/2009 12:21 by pelleeds1980 Any of you guys had the corporate action through regarding the £37.50 offer?No word from TGE yet to say if they think this shoddy price is fair value for their company |
Posted at 02/10/2009 15:59 by maxwellsdemon Cayzer family make killing on floatOne of the UK's wealthiest financial dynasties has reaped hefty rewards after a German shipping company in which they hold a majority stake, TGE, floated yesterday to achieve a market capitalisation six times its former value. nearly £160m (103m). The Cayzer family took 50% control of TGE two years ago for just £12m, a sixth of what the company is worth now. Bonn-based TGE raised proceeds of £21.3m through the float and achieved a valuation of nearly £160m. The family bought the stake in TGE through its quoted vehicle, Caledonian Investments, which is headed by nephew of the late Lord Cayzer, Peter Buckley. The 49.5% holding was purchased through a management buyout from French utility Suez, who retained a large stake. The float is also a coup for London's Alternative Investment Market, as the second largest so far this year. The junior market has suffered from a lack of flotations due to market volatility. The initial public offering was run by City broker Kaupthing Singer & Friedlander. Shares priced at £130 and soared on debut to £134.50. Proceeds went towards repaying debt to parent company Caledonia. In September the Cayzer family, acting through their trust, took a 15% stake in Church House Private Bankers, a regional UK private bank for an undisclosed sum. Caledonia has built up strategic holdings in a range of financial services companies such as Close Brothers, Rathbone Brothers, British Empire Securities, Polar Capital, and Eddington Capital. The Cayzer family and Peter Buckley fell four places in the Sunday Times Rich List this year from 116th to 120th. However their fortune has grown from £630m to £690m, and the family stake in Caledonia is worth £539m. |
Posted at 02/10/2009 14:48 by kiwi10 RNS Number : 1763ACaledonia Investments PLC 02 October 2009 Caledonia Investments Tender Offer Caledonia Investments plc, Gas Fin Investments S.A. and gas fin s.a. ANNOUNCE PURCHASE OF SECURITES IN TGE Marine AG AND TENDER OFFER This announcement is not for release, publication or distribution, directly or indirectly, in or into the United States, Canada, Australia, Japan, the Republic of Ireland or South Africa or any other jurisdiction in which the same would be unlawful (each a 'Restricted Jurisdiction'). Initial Share Purchase Caledonia Investments plc, Gas Fin Investments S.A. and Gas Fin S.A. (the 'Offerors') announce that today they acquired 141,937 Registered Shares of TGE Marine AG ('TGE' or the 'Company'), representing 11.66 per cent of the Company, from certain institutional shareholders (the 'Initial Share Purchase'), taking the Offerors' combined shareholdings in the Company, together with those of Gas Fin GbR, to 76.21 per cent in aggregate. The price agreed for the Initial Share Purchase was £37.50 per Registered Share, which represents a premium of 14.05 per cent over the closing mid-market price of a TGE Registered Share on 1 October 2009. Tender Offer The Offerors believe that there is no longer a significant benefit to the Company in retaining a quotation on AIM. Therefore the Offerors intend to take the necessary steps to procure the cancellation of admission to AIM of TGE's shares. Before doing so, the Offerors consider that it is appropriate to offer all other Shareholders and Depository Interest Holders the opportunity to sell their Registered Shares or Depository Interests ('Securities') at the same price as in the Initial Share Purchase, being £37.50 per Registered Share or Depository Interest, by way of the Tender Offer described below. Shareholders and Depository Interest Holders ('Tender Offer Participants') will be given the opportunity to sell their Securities in the Company by means of completing a Tender Form (in the case of Registered Shares held in certificated form) or a TTE Instruction (in the case of Depository Interests held in CREST). A Circular and accompanying Tender Form will be sent to Tender Offer Participants shortly regarding the Tender Offer setting out the terms and conditions of the Tender Offer and instructions as to acceptance. Tender Offer Participants may tender all or some only of their Securities. There is no obligation for Tender Offer Participants to sell any of their Securities however they should be aware that, following a de-listing of the Company from AIM, there will not be a ready market in the Company's Securities. Background and reason for the Tender Offer TGE is a leading provider of engineering services for the design and construction of gas carriers and offshore units. Previously owned by Suez-Tractebel S.A., the Company was acquired in 2006 by a consortium involving several members of its then management team, including Vladimir Puklavec. In 2007, TGE decided to divest its onshore division in order to focus on growing and developing its marine gas carrier business and in May 2008 the division was sold to its management team led by Mr Puklavec. Mr Puklavec no longer held a management role in TGE, but remained a shareholder through Gas Fin Investments S.A., Gas Fin S.A. and Gas Fin GbR. TGE was admitted to AIM in May 2008. Since the Company's admission to AIM, the global financial crisis that began in the latter part of 2008 has had a direct impact on the markets in which the Company operates. Restricted credit and falling economic activity have affected shipyards generally and, even in the Company's niche of small gas carriers, when financing has been available, ship owners have been cancelling or deferring orders in anticipation of materially lower build costs. As a consequence, TGE has not signed any significant new contracts in its core markets in the past 12 months. The deterioration in the macro-economic environment has significantly reduced the Company's performance expectations compared with those held at the time of its admission to AIM. The Offerors continue to believe that the Company's expertise and position as a clear market leader in its field will enable it to take advantage of the opportunities that will arise once shipping markets recover and remain fully supportive of the Company's management team. However they recognise that new facilities for shipping loans will only become available gradually and that the pace of recovery in TGE's markets will depend on an upturn in the global economy. In view of the current market capitalisation of the Company and the lack of liquidity in its shares, the Offerors consider that the Company is no longer suitable for a public listing. 2 October 2009 Enquiries: Caledonia Investments plc +44 (0)20 7802 8080 Tim Ingram Gas Fin Investments S.A +49 (0)228 604 48 0 Gas Fin S.A. Vladimir Puklavec College Hill +44 (0)20 7457 2020 Tony Friend Roddy Watt |
Posted at 24/9/2009 07:31 by andrbea TGE Marine (TGE, 3150p, £38.34m) Revenues declined to 71.50m (95.25m) with underlying PBT of 11.21m (16.66m) and 6.84 (5.92) EPS. The group ended the period with net cash of 31.7m. During the year the group delivered 12 gas carriers (13 in 2008) and has a further 21 for 2010/2011. The group is experiencing a high level of customer enquiries. The group has implemented a cost reduction that should save 20% of total overheads for 2010. With a pick-up in the LNG and CO2 markets combined with the prospect of ageing ethylene and LPG carrier fleets entering their replacement cycle, the outlook is strong. The shares continue to be a BUY and repeat our price target of 3984p, last iterated on 23/07/09. |
Posted at 03/7/2009 09:06 by andrbea Recent info (May 15th) from Business overview (23 pages)Order book gas carrier �� Sekwang Heavy Industries, Korea: 4 Ethylene carriers of 8,000 m3 for Lauritzen-Kosan (Denmark) �� STX, Korea: 2 Ethylene carriers of 9,000 m3 for Benelux Overseas (Greece) plus 7 LPG-carriers of 9,000 m3 for Naftomar (Greece) and Benelux Overseas plus 2 LPG-carriers of 6,500 m3 for Eships (UAE) �� Meyer-Werft, Germany: 3 Ethylene carriers of 17,000 m3 for Harpain Shipping (Germany) �� Jiangnan shipyard, China: 2 LPG carriers (22,000 m³) for Petredec �� Sinopacific , China: 3 LPG carriers (16,500 m³) for Naftomar Total: 9 Ethylene/LPG-carrier Order book includes for deliveries into 2011 When will the market come back ? Age profile of the fleet would suggest that more activities shall be expected in second half of 2009 Market depends on recovery from economical crisis as consumer demand needs to support petrochemical industry New cracker capacity in Middle East will contribute to increase of tonnage miles for PetChem products TGE observes a higher level of inquiries compared to Q1 2009 What is TGE's strategy to overcome the recession ? Several new developments for FLNG and CCS Small LNG-carriers: Demand for coastal area supply as well as island in most cases to substitute o subs u e diesel/HFO as fuel (MED islands, Carribean, Norway coast) TGE has upgraded existing ethylene designs for LNG service with ship sizes up 70,000 cbm LNG-BOG handling system New development with Burckhardt compression for a cascade type re-liquefaction will be presented on GASTECH CCS (Carbon capture and storage) Environmental pressure is key driver supported by governments (EU) CO2-transportation by ships is the most flexible solution TGE has developped new storage and shipping concepts with special steel grades Other opportunities FLNG Floating LNG market ("FLNG") Many drivers behind LNG development anti-flaring / environmental regulations potential value of "stranded" gas limited land availability for terminals FLNG regasification proven, floating LNG production to come TGE proven for all components excluding liquefaction units TGE engaged with several players Summary: Market opportunities and outlook �� TGE Marine has a strong balance sheet to weather current economical crisis �� Overaging of LPG/LEG-carrier fleet will lead to replacement with a question mark on when the market will come back �� New market segment of small LNG-carriers starts to develop and is progressing �� New opportunities for FLNG and especially CO2 are encouraging and are complementory to core market of TGE Marine �� Major threats: Ship financing, recovery from recession |
Posted at 03/7/2009 08:54 by andrbea Jan Valkier, Managing Director of Anthony Veder said:'For our company this vessel is a big step forward in the distribution of clean energy. We are delighted with TGE's excellent service in this project and we are currently also developing other innovative gas shipping projects together with TGE, which are related to the reduction of CO2 emissions.' /... The new TGE gas plant design for this LNG/multigas carrier is based on the well proven TGE Ethylene Carrier standard, enhanced with new TGE developments to cope with the requirements for LNG trade in arctic regions and LNG-terminals of standard size. The 'CORAL METHANE' is a new generation of environmentally friendly and highly flexible LNG/multigas carriers, which will play a vital role in the future for coastal area or island supply. TGE is currently engaged in several projects for small scale LNG distribution in the Mediterranean and Carribean islands. |
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