Topps Tiles Share Discussion Threads

[spin doctor] 20/12/2022 14:38

Pleased to be heavily invested here. The lack of BB ramping and (so far as I am aware) of media comment/tip makes the share price action especially significant.

[fevertreeman] 20/12/2022 13:40

Still think that this ends up in hostile bid by the Poles. Linking supply agreement to shareholding is utterly ludicrous, but the Pole has succeeded in flushing out the level of support for the management. He isnt going to get his way with a supply agreement and will fail to get seats on the baord at EGM. leaves him 2 choices: full bid for the company or skulk away holding a near 30 pc holding in a business he cant influence and w/o prospect of a bid dea money for him if he is lucky or a large paper loss if he isnt. Topps management best off extracting a decent premium now rather than continued interference going forward from a hositle shareholder capable of disrupting their plans ad infinitum.

[prokartace] 19/12/2022 14:58

I am certainly no expert but the'W' formation of the chart and the robust nature of the business suggest that we have a chance to go back to 80p

[makinbuks] 19/12/2022 10:36

I agree with you. Galleon must have spent £25m - £30m for their stake and to be fair that would be a very expensive way to obtain a marketing agreement. They will perceive that there is a benefit to Topps and so they gain both through increased revenue and margin directly as well as upgrades to their Topps holding and dividends. What they need to do is convince other shareholders that their proposal is not simply self serving

[wad collector] 18/12/2022 22:42

The demand that the company source 29.9% of its stock from a supplier that is owned by Galleon is extraordinary. It seems a very twisted logic. It makes no sense in terms of the benefit to Topps or its shareholders. Presumably the two stooges who agreed to put their heads above the parapet are being paid handsomely for their names to be public.
If they did force their way onto the board it is hard to see that it won't be divisive and result in official meetings and unofficial ones. Hope they fail.

[makinbuks] 16/12/2022 09:29

I think Galleon's attempt at a board coup will be seen off as too blatant in its intentions and anti competitive. However with a 29.9% shareholding what comes next? They could admit defeat and sell up, or they could launch a full bid. Perhaps more likely is a compromise with one board seat and an agreement to work together. Nothing wrong with a vertically integrated model provided the risks and rewards are fairly divided and the benefits mutual

[wad collector] 16/12/2022 09:10

DYI might be a form of self-harm! I prefer DIY myself.
Well it does look like 50p has been broken. Tentative optimism here. But not enough to tempt out Cudmore to his daily posting that they are worth £2 soon.

[metis20] 15/12/2022 09:19

"However the great days of DYI that came with Covid are now gone.."

From the FY to October 31 2022 results:-

Current Trading and Outlook
• Robust trading in the first eight weeks of the new financial year, with like-for-like sales in Topps Tiles up 3.4% year on year and other parts of the Group performing in line with our expectations

[pugugly] 08/12/2022 13:02

Link to daily Mail article - Worth a read.



MSG are (imo) trying to get a captive UK distribution outlet without paying for it. If they are interested they need to bid/buy the whole of the company.

However the great days of DYI that came with Covid are now gone - unless of course you are in the cold protection business.


A potential Bear Trap - imo

[wad collector] 07/12/2022 14:19

Hard to imagine that the rest of the institutional shareholders will back this attempt to buy their way into the boardroom. PIs are such a minority we make no difference but add to the cost to the company of this vote. There is presumably a backstory here behind boardroom doors.

[makinbuks] 07/12/2022 13:22

Market seems to take a negative view suggesting that they don't see a bid. I have to say I am surprised by the Poles apparent goal of vertical integration

[prokartace] 07/12/2022 12:12

Tough call but on balance will hold because either the board will remain and the company will continue to grow and wherefore a good long term hold or MSG will bid in which case the share goes up anyway. Good yield too

[fevertreeman] 07/12/2022 11:44

Certainly looks like the BoD is going to resist this fiercely, and will probably be supported by insitutional shareholders. This has effecttively gone hostile, so Galleon has 3 options if they dont get the requisition numbers they need
(1) Make full bid (2) Sell down their stake. (3) Hold onto stake Share price seems to be suggesting 2 or 3 hence the share price drop because that would be a big overhang on teh share price. If it were going to be bid for, the share price would be reflecting that methinsk...time will tell

[dc74] 07/12/2022 11:34

Just what we need, a boardroom spat to slow the rise. Bid incoming if they don't get there way?

[spawny100] 06/12/2022 16:32

Good call on the 50p resistance. Looks like you were correct.

[makinbuks] 05/12/2022 18:03

I so hope youre right

[fevertreeman] 05/12/2022 16:43

c600,000 shares traded & up 8.5% with the bid being held (just about) at 49.7p. With so much stock locked up in safe hands, there is a limited actual free float which partly explains the upwards move (technically), which is in turn supported by bid speculation and underpinned by a terrific operational performance. If Galleon is intent on buying this and vertically integrating with existing factories now is the time to do it; if not and he is just protecting his upstream operations, then he gets a whacking dividend plus capital
appreciation as the market starts to wake up to the quality of this business. I see this at 75p during Jan

[casholaa] 05/12/2022 16:42

Do you think it has a clear run upward?

[spawny100] 05/12/2022 11:21

As far as I recall there were no buys over 50 on Thursday or Friday even though the buy price briefly touched 50. But there is a decent amount of buying today over 50. Not sure I agree with you that there's significant resistance here. We'll see.

[prokartace] 05/12/2022 10:51

Don't think you understand what resistance is. This is a perfect example of buyers buying at a level but it repeatedly falls back below that level just as this has for the last 3 trading days at 50p

[spawny100] 05/12/2022 10:36

Hardly. Plenty of buys gone through over 50 already. Dune a move up soon.

[prokartace] 05/12/2022 09:55

Still struggling with 50p as I suspected

[fevertreeman] 02/12/2022 11:56

I agree: figs show just how well this company has been doing. Used covid to restructure; strong operational management; strong balance sheet; heavyweight shareholder; strenghtening market position, well balanced business model & the possibility of corporate move by Galleon at some point (tho not sure why he has left it this long tbh). Incredibly cheap imho and a great divi. This has a lot further to run, and with a lot of share locked up in secure hands there isnt much stock available. Should drive through 50p

[spawny100] 02/12/2022 11:53

50 to buy already. Told you they were struggling to contain it!

[prokartace] 02/12/2022 11:37

Big resistance before 50p. This buying is probably for the dividend