Titon Share Discussion Threads

[argylerich] 12/4/2023 18:38

I do hope this isn't related to the CEO moving on

[argylerich] 12/4/2023 18:31

I'd expect another TR-1 too as there was 75000 more sold today

[cfro] 12/4/2023 17:53

One of the long term shareholders Amanda Farrar just reduced her shareholding by 0.72%

[argylerich] 11/4/2023 16:03

I think I feel a safer ;-)

[cfro] 11/4/2023 15:56

There you go. It just had to be Rockwood..

[argylerich] 11/4/2023 09:46

Still no new holder notification for the shares sold....

[argylerich] 07/4/2023 12:24

We'll see on Tuesday but I agree that at least there's a degree of comfort knowing that Rockwood are there.

[argylerich] 07/4/2023 10:28

Could there be a move afoot to take the company back private again?

[argylerich] 06/4/2023 18:39

I think you nailed it with 'seemingly', it looks like the old guard won't let go.

[jane deer] 06/4/2023 18:36

Sorry state of musical CEO chairs. In last two years since David Ruffell resigned as CEO in April 2021, Mat Norris was CEO for 6 months and Alexandra French for 11 months and there was 6 months of no CEO, while replacements were looked for. Now once again we are into a interregnum period. On top of this there has been instability in the board with 2 NEDs resigning in Sep 2021.

Does Titon just choose the wrong person or is the CEO job one that it is difficult to do given the culture inside the company and its board? Keith Ritchie stepped back from Executive Chair to Non-Executive Chair in October, seemingly to give autonomy to Alexandra French. But for one reason or another that has not worked out.

[argylerich] 05/4/2023 16:26

Well there doesn't seem to be any 'spare' stock on the market lowering the price, so yes, looks like an orderly transaction.

We await the RNS.

[argylerich] 05/4/2023 14:47

That's 10% of the company just changed hands....

[arthur_lame_stocks] 29/3/2023 16:18

I think we get the dividend on Friday. Not much but better than nothing.

[argylerich] 02/3/2023 10:37

IHT if you think this board isn't for you, dog help you with the rest of the boards on ADVFN ;-)

[ihtplanner] 01/3/2023 19:59

cfro - a cheery 'welcome' would have been nice, but perhaps you bought in in the 20/30p days. You seem to have forgotten your own post at 30/11/2022. There is little sign of a new strategy in the last TU or the AR, and an acknowledged need urgently to convert inventory to cash.

pugugly - IHT planning using AIM stocks relies on a bit of liquidity, and there is none with TON as there has not been any good news for a while. If the family ever needs cash from its (IHT exempt) holdings to pay IHT due on other assets they may be selling against themselves.

Let's see how Harwood vote at the GM and hope that TON will report some progress. In the meanwhile, only a fool would vote against all resolutions. That sort of comment makes me think that this board is not for me.

[argylerich] 28/2/2023 09:43

and there are no 'borrowings' only trade accounts which are balanced to receivables.

[pugugly] 28/2/2023 09:32

An IHT play for the family - share price appears to be covered by real assets - Subject of course to the value of the land.

[red army] 27/2/2023 21:25

The market cap seems reasonable at this level.

[ihtplanner] 27/2/2023 20:40

Just looked at the latest AR to decide how to vote. Credit to Titon for being pretty frank, but what a commercial mess. Changing shape is almost impossible. There is no cash for an acquisition, borrowings may not be covered by cashflows, the Korean assets/cash can’t easily be used as security and a bid by an Alumasc etc would be too costly (probably £1m+ in fees) and complex given Titon’s size/AIM-listing. Why bother?

The only way forward is 'rightsizing' the existing business, starting with bringing in a tough new Chair who holds no allegiances to family members, who seem to be clinging on for their salaries. Let’s hope Harwood will use their voting power at the GM. Ms French is a brave lady, especially if she adds to her holding. I won’t add to mine.