Tp Share Discussion Threads

[timojelly] 19/8/2022 08:31

Dodgy bid coming in?

[prokartace] 19/8/2022 08:30

ahhh, the joys of disagreements between posters. Only happens on threads where the company and management are both dead

[paulgo] 19/8/2022 08:16

1.6 million bought already this morning so someone has faith.

[paulgo] 17/8/2022 13:24

I'm not necessarily arguing with any of your points, it's your motivation for, and the manner in which you make them, that I'm questioning.

[mauricemonkey] 17/8/2022 12:44

I have no position here. Once they sort the refinancing, I'll look at it again as already stated. Too many red flags for now. I note you haven't once put up anything that argues my points, you're playing the man not the ball. I'm sure that will work out well for you.

[paulgo] 17/8/2022 11:48

Ah, so you're just posting out of the goodness of your heart. Thank you maurice.

[mauricemonkey] 17/8/2022 11:44

You know, it's one thing to be taken in by the former management and to certain posters on here, to have the blinkers on thinking everything is going to be ok. But then, the same thing keeps happening, the events don't line up with the management statements but you keep telling yourself it's going to be ok. Deep down you know it isn't but that's the lie you tell yourself and you keep holding, ticking up posts that say "it's going to be ok". Even when the RNS is released saying that things really really aren't ok you fool yourself into thinking the management are trying to pull a fast one despite years of evidence this is a basket case.

To then criticise others who point out the problems and question their character is a poor reflection on your ability to think.

[paulgo] 17/8/2022 11:15

I'm sure you will maurice.

You know, it's one thing to sell out at a higher price (even at a loss as you've done) and when the stock continues to fall (justifying your decision), to feel a bit smug (as you obviously do).

To then revel in the misfortune of the existing holders is another thing, and a poor reflection on your character.

[mauricemonkey] 17/8/2022 10:57

Don't worry Paul, I'll be back later, I might even consider investing once the company has sorted out the refinancing it clearly articulated was coming. No point beforehand, the equity is going to get diluted to almost nothing.

[paulgo] 17/8/2022 10:50

Cheerio maurice

[mauricemonkey] 17/8/2022 10:40

A "great business" performing below management expectations, massively indebted relative to market cap and has stated that they need to refinance before September 2023.

Cheerio shareholders.

[rolling ronnie] 16/8/2022 15:54

£1 ??

[fat00mch] 16/8/2022 15:15

Westek trading profitably for the past 12 months after 18 months of losses, and discussions with a potential acquirer continue. What is it worth?

On Jan 5 2022, Westek accounts were filed for year ending December 31 2020
"Going concern
The company made a loss before taxation of £78,000 (2019: profit of £603,000) for the year ended 31 December 2020. As at 31 December 2020 the Company had net current assets of £1,268,000 (2019 £1,196,000) net assets of £1,016,000 (2019: £1,119,000) and Cash and bank balances of £265,000 (2019: £139,000)"

According to TPG 2021 interim accounts

H1 revenue of £1.3M – loss of £200k

2021 full year doesn’t report any financials as Westek was an asset held for sale but states (for 2022)“….while Westek is a modest business and discussions with a potential acquirer continue, it was turned around in the second half of 2021 and has traded profitably in the current year.”

[timojelly] 16/8/2022 12:10

I believe we have a great business going ahead. 'Services' going really well and Maritime being turned around getting full attention from the group.The fact Maritime hasn't been sold (even for a quid) says much about where we going. A drag on results for now but more than made up by Osprey n all .

[paulgo] 16/8/2022 07:35

Well if there is a positive to be taken from the audited results and accompanying statements it's that things probably cannot be any worse than laid out.

If SAG are looking to buy out the remainder of the company on the cheap, they are hardly likely to talk things up; quite the opposite in fact.

[timojelly] 15/8/2022 18:20

Wrong thread matey, rookie mistake, no harm done.

[buywell3] 15/8/2022 17:13

Terminator



Early selling but now it would seem increased buying volume --- rerating for TEK in prospect as Vyrb gets properly implemented

[prokartace] 15/8/2022 16:05

You will be lucky if they make an offer. They are in control and maybe even bust the company and get for zilch

[mauricemonkey] 15/8/2022 10:02

I prefer these quotes:

Services:
"While order intake in the first half of 2022 is slightly behind expectations"

Maritime:
"Not only has TPG Maritime reported an operating loss for 2021 and recorded a
prior year adjustment, but the impact on operating margins will continue for
several years into the future"

"TPG Maritime has had a slower start to 2022. Order intake, revenue
and profit metrics are all below management's expectations"

Corporate:
"The Group's bank facility now expires in September 2023, co-terminus with the
Science Group standby facility. The Board will shortly be commencing a
refinancing exercise including discussions with its bank to extend or renew
the facility"


Cheerio shareholders.

[fat00mch] 15/8/2022 09:52

Well put - thompson. Lots of gnashing of teeth an wailing as usual.

Previous TPG management mishandled Maritime contracts - then tried to cover it up by selling it off. Anyone doing their due diligence when looking to buy Maritime would have unearthed those onerous contracts and any offer would have reflected that.

Far from trashing TPG, the RNS contains many positives:

TPG Services

“TPG Services has adapted well to the increased commercial rigour with a good management team operating as a disciplined, process-driven organisation. This growing, profitable business continues to strengthen its position as "Customer Friend", aligning with the end user.”
“Revenue through to the end of June 2022 is in-line with management's expectations and the Division continues to operate profitably with actions to improve operating margins being successfully implemented by the management team.”

Maritime

"....despite the near-term challenges TPG Maritime remains a leading provider of critical systems to its core market and has considerable potential opportunity in the longer term."


Stress test

"The directors have reviewed the Group's overall position and outlook in respect of the matters identified, including the scenarios noted above, and are of the opinion that there are reasonable grounds to believe that the operational and financial projections are achievable, and that the base case budget provides insulation to a plausible downside scenario. Accordingly, the directors have a reasonable expectation that the Group will have adequate resources to meet its obligations as and when they fall due for the foreseeable future and are satisfied that it is appropriate to prepare the financial statements for the Group on a going concern basis."

[mauricemonkey] 15/8/2022 09:51

Hahaha, the delusions continue.
Massive refinancing needed here as stated in the results. Both bits of the business below management expectations (trading well hahaha).
6p hahahaha, you'll be lucky to get 0.6p

[septblues] 15/8/2022 09:12

"And, while they do that, SAG and MR will continue their hatchet job with poorly disguised negative PR in an attempt to drive the share price lower."

the challenge for SAG is to understand the business and grow it in a growing market

[thompsonminor] 15/8/2022 09:08

Great opportunity to buy in, on the cheap, ahead of a full take-out by SAG. I can't believe the major institutions will accept anything below 3.5p and as I've said numerous times, David Lindsay (former CEO and NED) bought in at 3.77p so unless he's massively compensated, he'll be sitting on a major investment loss.

Clearly, there have been some catastrophic management decisions regarding Maritime business opportunities, but let's not forget, this is a business with revenues of nearly £60million, and a strong order book of £70million - and both of these are INCREASING. The challenge for the existing management team is to drive profit to the bottom line. And, while they do that, SAG and MR will continue their hatchet job with poorly disguised negative PR in an attempt to drive the share price lower.

[timojelly] 15/8/2022 08:49

6p will do