Tt Electronics Share Discussion Threads

[wallywoo] 12/12/2024 14:26

That was the day before the bid was announced. I don't think it was an improved trading outlook. Indeed the profit forecast was for the lower end of target from the earlier trading statement. This is staying up because the market believes there's another party sniffing around this company. Not sure if they're right.

[liam1om] 12/12/2024 13:35

Got it, thanks. Been quite a few RNS's here over the past few months.

[indiestu] 12/12/2024 13:31

You are missing the 14/11 trading update. The share price jumped nearly 6% on the day.

[liam1om] 12/12/2024 13:28

Didn't TTG release the trading update on 16/9 which caused a 40% drop in the share price The bid was a few months after, unless I'm missing some news in between?

[indiestu] 12/12/2024 13:22

The point being. Volex needed to get the low ball offer in quickly following the TU before the share price recovered. The share price would likely of made it back to these levels by now as it adjusted for the improved prospects for 2025 and beyond. Market looks forward. Its a buy.

[indiestu] 12/12/2024 13:04

If we ignore the takeover and revisit the 14 November trading update. Revenues had stabilised, order intake was higher and progress was being made on fixing the operational challenges. Interestingly the company said 'we are now dealing with specific productivity issues exacerbated by increased volumes and product complexity' - increased volume bodes well for 2025. - 'This will result in increased productivity and streamlined processes and provide an improved performance in 2025'.

The Volex offer came the day following the trading statement that demonstrated the first signs of a turnaround for TTG. Coincidence?

[wallywoo] 12/12/2024 12:54

Interesting share price action over the last couple of hours. Down to 91 from 118, then back upto 110.Wouldn't like to bet (buy sell) where this will be in a few days. No rns saying bid period has finished. But best guess would be that 100p will be under pressure again sometime. Glad I sold out at 115, but good luck to holder's.

[dr biotech] 12/12/2024 12:50

Surprised at how well the price has held up here. VLX is a big holding for me and I was concerned that TTG would be a big distraction to turnaround. I wonder if the board here will now reveal more about their previous cash offer? I guess if two companies have had a look there are probably others.

[glavey] 12/12/2024 12:49

The Algo didn't read the RNS.

[sphere25] 12/12/2024 12:39

I'm not buying this but is there another bid in the market here? This should have tanked below 95p, but they bought it up and now it is at 111p versus pre-bid at down under 80p.

I didn't think that was going to happen!

Maybe the market is pricing in some form of takeover premium in the near term.

Surely VLX are done here, not going hostile, unless they're going to stake build here?

From a short term perspective, very clear that TTG was the winner and the market does not like VLX chasing TTG. Longer term, could be a different story.

But hey ho, swings and roundabouts.

All imo
DYOR

[indiestu] 12/12/2024 12:19

Yes, but they would not have had a choice if major shareholders had forced a vote. By default that must mean major shareholders feel the company is currently worth more then the offer or its fortunes are likely to improve in the medium term.

[eagle eye] 12/12/2024 12:10

Management would have lost their jobs so wonder they didn't warm to Volex.
Turkeys don't vote for Xmas LOL

[indiestu] 12/12/2024 12:04

Clearly insufficient major shareholder support for the opportunistic offer from Volex. That could be good news but leaves me bag holding for a while longer.

[johndoe23] 12/12/2024 11:56

Should have accepted doh

[liam1om] 12/12/2024 11:52

Well they didnt before, so I doubt they would now, risk here it does a CABP and drops back below the pre-bid price.

[deanowls] 12/12/2024 11:39

Wonder whether the board will now put their hands in pockets.

[rachael777] 12/12/2024 11:30

Come on then ttg board - where is your prepared statement

[glavey] 12/12/2024 11:26

That's told 'em!

[zho] 12/12/2024 11:08

Further to its announcement on 15 November 2024, Volex confirms that it does not intend to make an offer for TT Electronics.

[rachael777] 09/12/2024 15:07

Hi I am a holder of vlx - long time. Are you guys expecting a formal bid/improved offer? Strange price action today as everything is moving up. I would be happy for the deal to progress on terms already announced but presume you guys are hoping for a sweeter deal ? You can’t be happy with the existing management so wouldn’t you be overjoyed to get vlx expertise on board unless you are ttg management lol

[ayl30] 02/12/2024 09:04

Might annoy some holders who are it it for the IHT benefit of holding AIM relief?

[boadicea] 02/12/2024 08:58

I note that VLX is quoted on AIM while TTG is on the main market. If the t/o goes through could VLX decide to graduate to the main market - e.g. by backing into the TTG quotation?

[ayl30] 25/11/2024 11:24

Up 3%, confidence bid will go through, VLX down 2%

[indiestu] 21/11/2024 16:08

Master, I nearly took you seriously then until I realised you still have issues with your Windows font style and colour! Please don't start using capitals to get your message across. ;-) I liked your post btw, not sure who gave you the thumbs down but I'm sure it was only due to the atrocious choice of colour pallet.

[stuffee] 20/11/2024 14:05

Re lack of disclosure of previous cash proposal.

I don't have much sympathy for TT's board in general, with their massive destruction of TT shareholder value over the last five years, but to be fair to them, there may have been good reasons for the lack of disclosure of the previous bid approach:

- could have been a credibility problem with bidder's ability to raise the cash;
- proposal could have been subject to numerous unacceptable conditions;
- did not want to create the distraction from any uncertain bid.

Interesting that there is still a substantial discount between the value of the Volex proposal (currently worth 127p per TT share) and present TT share price (108p). I don't feel there is much doubt in Volex's ability to raise required funds or doubt on their ability to proceed; Nat Rothschild has been round the block a few times, knows the score and doesn't want a reputation of "bottling" it. I guess it suits Volex to give an impression of doubt, to maintain discount in TT price and encourage subsequent shareholder acceptance.

I am happy to continue to hold TT shares, then accepting Volex paper, as I feel it could be a rewarding acquisition for Volex.