Tt Electronics Share Discussion Threads

[broadwood] 21/11/2012 09:16

I presume the sole reason for the rise is that £29.2m is more than the market expected these businesses to be worth.



Disposal of Ottomotores
TT electronics plc, a global provider of performance critical technology solutions to leading manufacturers, announces it has entered into an agreement to sell the businesses comprising the remainder of its Secure Power division (together "Ottomotores") to a subsidiary of Generac Holdings Inc. ("Generac"). Ottomotores, based in Mexico and Brazil, provides secure power solutions to customers primarily in Mexico and other markets in Latin America. The sale is subject to certain conditions commensurate with a transaction of this nature, including approval from competition authorities in Mexico. Completion of the disposal is expected to take place before the end of January 2013. All personnel employed by Ottomotores will transfer with the sale.
Under the agreement, Generac will pay consideration of $46.5m (GBP29.2m) in cash, subject to an adjustment based on the balance sheet at completion including assumed debt.
The proceeds from the disposal further strengthen the Group's balance sheet giving flexibility to deploy capital to maximise returns to shareholders. The Group has identified projects for organic investment to deliver margin improvement and growth in the short and medium term, and continues to evaluate opportunities to supplement this with acquisitions.
For the year ended 31 December 2011, the underlying operating profit for Ottomotores was GBP3.7m on revenue of GBP50.9m and the value of gross assets at 31 December 2011 was GBP39.4m.
Commenting on the disposal, Group Chief Executive, Geraint Anderson said:
"The sale of Ottomotores will bring to a successful conclusion the disposal of the operations which previously comprised the Group's Secure Power division and is in line with our strategy to realise value from businesses that are non-core. It leaves us focused on our electronics divisions supplying leading manufacturers in the defence, aerospace, medical, transportation and industrial markets. We intend to deliver value to shareholders by investing for growth in the business and continuing to drive margin progression."

[lenzcrafter] 21/11/2012 09:08

Great to hear some good news for once...its been a longtime coming!

[snatander] 21/11/2012 09:07

Fire sale and earning dilution

[fangorn2] 21/11/2012 09:05

Weren't there rumours last year of an American takeover interest? Agree it's well run - pity its in the engineering sector!!!

Am sure there will be an approach in time.

[a0148009] 21/11/2012 08:41

Harry

This is not out of the question, it is a well managed, innovative OEM supplying the major manufacturers and could be attractive as a bolt on to one of the larger OEMs.

AO

[harry hedge funds] 21/11/2012 08:26

Would appear so, a takeover approach would be nice.

[broadwood] 21/11/2012 08:20

Market happy with today's news.

[alphabeta4] 02/11/2012 19:05

As I understand it this is often netting off a buyer with a seller so is actually two trades in one. Means you have to be careful not to read too much into the data.

[coul909] 02/11/2012 16:01

A0148009 - I assume that all 'small trades' are the work of mms.....perhaps one of the knowledgable traders here can tell us exactly what is going on?

[a0148009] 02/11/2012 09:17

Any idea what all the trades for 1 share at 125 is it some kind of code!

AO

[fangorn2] 30/10/2012 17:42

TT electronics PLC Long Term Incentive Plan

[london calling] 30/10/2012 17:30

good bounce. up 10p today. not before time

[fangorn2] 30/10/2012 15:43

Seems Blackrock have been lightening their holdings..Bought some more myself this morning

[nurdin] 30/10/2012 14:27

I had a few earlier..price was discounting a serious warning which hasnt materialsed.Hoping for a decent move from here..

[cockneyrebel] 30/10/2012 14:24

That large volume at Noon looks like a seller cleared imo - rising since then

CR

[cockneyrebel] 30/10/2012 12:44

Pensioned some today

Oriel and Numis out with Buy recs and targets of 175p and 195p respectively.

CR

[lenzcrafter] 30/10/2012 09:42

Nice little rise today.

[kimball808] 30/10/2012 08:43

Sounds like a very sensible and proven management team taking sensible strategic actions (in house) to combat a poor macro environment. That's not to say the share price will take a further beating before this cycle turns....

[harry hedge funds] 30/10/2012 08:31

Takeover target for the Dutch or yanks.

[fangorn2] 30/10/2012 08:21

One could argue that the hit to the share price has already occurred given it's falling from 180-190p odd.Perhaps a chance to take a nibble.

[snatander] 30/10/2012 08:13

wait for a trading statement to sink inwhich like the sector will hit the sp

[ukinvestor220] 30/10/2012 08:08

luvly jubbbly - nice buy point at support. looking forward out of recession can only pick up.

[bonio10000] 30/10/2012 08:02

Maybe they should shift more production to Romania and Mexico.

[jeanesy2] 30/10/2012 07:53

What price today?.Hopefully not below 100p