Tp Share Discussion Threads

[robow] 27/8/2017 10:38

thanks for that RR

[septblues] 27/8/2017 08:05

RR

yes - excellent find

[pavey ark] 26/8/2017 19:43

RR,
Excellent find.
Excellent read.

[buywell3] 25/8/2017 12:06

There There







Arf Dysg23 Aug '17 - 20:37 - 2426 of 2429 3 0
buywell3 (2423) "here here"

It's meant to be "Hear, hear!"

...meaning "Everyone should hear what was just said, isn't it good?"

I assume you know the difference between "hear" (use your ears) and "here" (this place where I am).

[itchycrack] 25/8/2017 11:12

Nope, and don't need to. Its doing just fine on its own.
It will be interesting to see the acquisitions they'll make from the proceeds of the recent place.

[napoleon 14th] 25/8/2017 08:30

Arf Dysg - always entertaining!
________

I can see the logic in the recent posts but to me the past is only a reference and the present just the start of the future.

I'm not too fussed if they take time over buying businesses as time is on our side compared to those businesses who no longer have sufficient critical mass to pitch for MOD contracts. Some may be holding out to sell at top dollar, but that pitch won't look too smart later on. Another aspect is how much of their targets' management they will keep on the payroll. The optimist says it could help beef up the management team if they keep the right peeps.

Twice I made good money on Vega - before & after 911. Cartmell hasn't "lost it" & if he & others make good money themselves for making me good money, I say that's fair enough. IMO patience will reward holders.

GLA.

[dashcroft70] 24/8/2017 22:56

Septblues, agreed.

I think there'll be a repeat in someway. The 'board of directors' stuffing large amounts of cash in their back pockets, Cartmel's car and driver paid for by investors cash.

Oh and let's not forget that magic moment when after awarding themselves large bonuses, they decided to 'cut the burn rate' by making key engineers redundant at a time where they needed them more than ever to get DGC and Spirax into its next and critical stage. So they'll cut the burn rate, so long as it doesn't affect their own pockets - that's where our money goes.

And now more have been made redundant from their TP Group 'engineering consultancy'.

This sounds dodgy to me.

[dashcroft70] 24/8/2017 22:42

ItchyCrack, you sound like an employee looking to push up the share price.

[arf dysg] 23/8/2017 20:37

buywell3 (2423) "here here"

It's meant to be "Hear, hear!"

...meaning "Everyone should hear what was just said, isn't it good?"

I assume you know the difference between "hear" (use your ears) and "here" (this place where I am).

[septblues] 23/8/2017 14:21

PA

for the record

yes I was invested in Corac and like you sold at a loss - thankfully I don't need to lose sleep over it. I susequently bought into TPG at below current price.

In my posts over the years I was initially positive of the Cartmell regime, then I changed my view.

[pavey ark] 23/8/2017 09:07

Septblues, I don't think I have resorted to name calling and I must remind you that you brought me into this by suggesting that I would "attack" your post.
I might also point out that your comment as to my "positive views" more than suggested an unreasonable bias on my part.
Obviously you are entitled to your views but it should also be pointed out that your long term holding here was based round the old compressor business.
It looks to me and I imagine most people reading your many posts over the years that you are resentful of the current management due to the fact that their actions repeatedly show what a mess the company was in.
Your use of the £40m market cap and how Cartmell has somehow run the company down is remarkable to say the least.
The simple inescapable facts are:-
Without the very shrewd purchase of the Maritime business (£10m now worth £40m+)you would not have any shares from your long standing purchase in Corac as they would be worthless.
Without the loss making contracts from Corac TPG would have been making excellent profits for years.
From the Wellman purchase they have spun off a MS business and an Engineering unit which they are building up as I type.

This management didn't take over a business to run,they built it up from zero and even less than zero when you consider the negative effects of the old DGC business.

[pavey ark] 22/8/2017 20:37

Septblues, I like to think I have a reasonable handle on things here but I now find myself baffled.
(Give me a good, old fashioned troll any day then I will know what I'm up against.)

Random, disjointed posts are difficult to counter especially when they seem to have little relevance or logic.

Anyone who shares the views expressed in your post whould and should run a mile from TPG and any company run by Cartmell.

[septblues] 22/8/2017 19:55

PA

"Unfortunately you lost money, you failed to average down"

dont know where you got that from.

All my shares were bought at a price less than today's price.

My post was purely in relation to Dashc's

"No it's not a separate venture. It's Corac renamed, from Corac Group to TP Group, using our DGC funds to finance an easy life of meetings and expensive lunches."

and the management of that quoted legal entity for shareholders benefit on a cash in cash out or, funds flow basis.

[pavey ark] 22/8/2017 18:36

Septblues, I have no intention of attacking your post as it has all been said before.
I'm sorry if you,Dashcroft 70 and others lost money in Corac and I can certainly point to similar disappointing investments I have made but I shouted loud and clear that this company was seriously undervalued and for almost a year shares could be bought at under 3.5p average.(July 2015/July 2016)
At £40m Corac was ridiculously over valued and the legacy losses from the blue sky compressor project has continued to drain cash away.
Without the losses from the compressor business Cartmell would have produced serious profits long before now.

Unfortunately you lost money, you failed to average down, you failed to appreciate that the Maritime unit was worth much more than the market cap, etc, etc, etc.

Cartmell has rescued this company with one £10m purchase and has put the company is the favourable position it is in today.

I hold and hold at a price significantly below todays price.
I held Corac in the compressor days but sold when it was obvious it was going nowhere.
I bought back in and continued to buy as the old Corac sellers depressed the price to unbelievably low levels ....that was an opportunity that you and everyone else had.

As far as my "positive views" are concerned I can only say that I have been correct in almost every aspect of this company and its progress.

As I said before, I've made investing mistakes like everyone else but not here ...at least not yet !!

[septblues] 22/8/2017 17:48

Dashcroft70

perceptive comment

Cartmell joined 28th Sept 2009 after the financial crash. Since then FTSE 100 has roughly doubled. It'll soon be his 8 year anniversary.

Share price when he joined was approx 40p which on 100m shares was £40m market cap.

Since then he's bought 4 businesses and closed down one project. Hardly speedy is it? The business we have today is the result of getting onto preferred suppliers lists and some cross selling and upselling - not to be underestimated.

Since 2009 the company has raised capital a number of times, the last being £21m. c£40m in total over 8 years? The company today is valued at £50m on 750m shares @ 6.625p implying that the underlying business net of cash to be c£23m. Someone else can tell me how much capital they've raised since 2009.

Directors emoluments in the 2016 A/R was £1.16m; 2015 was £0.86m. So over 8 years its ?........say £6m?.

So the record is not good......... started with £40m, raised say £40m, directors paid say £6m, ended up with a business worth £50m. Or to put it a different way turned a share price of 40p into 6.65p

We'd better believe what the institutions believe that Cartmell can replicate the Vega narrative and success when he was 10+ years younger operating in a pre austerity era etc.

And I fully expect PA to attack this post because it doesn't match his positive views and style, and perhaps, do a bit of name calling such as troll, which isn't the case.

I'm simply stating facts. I'm an investor, took up my rights and will remain an investor.

[pavey ark] 21/8/2017 09:42

I must admit that the recent fund raising did take me by surprise.
With substantial cash balance and all the units of the business in good shape I expected a gradual approach.
The acquisition in February was the way I thought the company was heading.
The MS unit having been started for next to nothing was set up at the end of the 10 year MoD contract (its only contract)just enough time to get the new acquisition bedded in.
The Engineering unit was also built up from next to nothing and has been transformed with new management and soaring order book.
The dear old money pit that was Corac has finally been brought under control.

With the the compressor unit no longer draining cash from Maritime and MS and Engineering definitely on the up I expected bolt on buys with the available cash but it looks like TPG was given a bit of a push by the tier 1 defence contractors and the MoD.

This management has shown to be rather shrewd when it comes to acquisitions and I expect this to continue.Those who actually know something of the current situation will be aware that TPG have a bit of an advantage when it comes to negotiating these up coming purchases.

[dashcroft70] 20/8/2017 22:52

In reply to FSE with

"TP group is a separate venture and needs to be looked at that way"

No it's not a separate venture. It's Corac renamed, from Corac Group to TP Group, using our DGC funds to finance an easy life of meetings and expensive lunches.

[dashcroft70] 20/8/2017 22:32

kilgallp, yes you are throwing good money after bad. There is no technical capability with TP what so ever. Just a bunch of over inflated egos who've sacked off their entire technical staff, moved to a small office to pretend to offer 'consultancy'.

Just a tragic car crash of a company who've shoved our investment in their own criminal back pockets.

[buywell3] 20/8/2017 16:42

Mmm

I wonder which one of the terrible 3 the first acquisition will try to fix ?


Out of the 4 Divisions itemised in the 2016 Annual report

3 of them reported lower earnings than in 2015

the only one that improved was TPG Maritime which lucky for holders carried the other 3 Divisions performing badly.

[septblues] 19/8/2017 16:27

cfro

funding closed 27th July

1st acquisition expected 2nd half of the year.

[cfro] 18/8/2017 13:48

I was rather hoping that the first acquisition would have been made by now. Hopefully we will not have too much longer to wait as they have said a few weeks back that they were already in serious discussions with at least ten companies.

Not forgetting they already had £10m in the bank before the fund-raising so it isn't the lack of money holding them back.