Turbo Power Systems Share Discussion Threads

[topinfo] 31/5/2012 14:22

Very good news indeed. You dont pay a premium for that amount of money unless you are very confident!

[bill182] 31/5/2012 14:18

I had written this company off, as I thought it would de-list. This announcement changes the situation completely, and I would expect it to make good gains going forward.

[topinfo] 31/5/2012 14:05

BUYING 500,000 TURBO PWR SYSTM @ £0.00395
Action Buy
Quantity 500,000 Shares
Symbol TPS
Firm Price £0.00395
Quote Time 31/05/12 14:05:20
Total £1,993.83
Settlement Date 07/06/12
Settlement Period T+3
Market Currency GBP Sterling
Settlement Currency GBP Sterling
Indicative FX Rate 1.00

[topinfo] 31/5/2012 14:04

TPS this could actually surpass the 0.45p placing price because they have just raised £2 million at an 80% premium but look at tiny mkt cap. They must be super confident in getting a return on their money at such a massive premium and the fact its many multiples of mkt cap new funding. Thats some vote on confidence. Funding sorted now and look at the chart!!!!!

[topinfo] 31/5/2012 13:58

Subscription for new A-Shares in subsidiary
Print
Alert

TIDMTPS

RNS Number : 5362E

Turbo Power Systems Inc

31 May 2012

Subscription for new A-Shares in subsidiary

Turbo Power Systems Inc ("TPS", the "Company" or the "Group"), a leading UK based designer and manufacturer of innovative power solutions, is pleased to announce that two existing holders of A-Shares in the Company's subsidiary, Turbo Power Systems Limited ("TPSL") ("A-Shares" and "A-Shareholders"), have conditionally agreed to subscribe for an aggregate of 444,444,444 new A-Shares in TPSL at a price of 0.45 pence per A-Share to raise GBP2 million of new financing for the Group (the "Subscription").

As set out in recent announcements, the directors of the Company (the "Directors") have extensively explored options for addressing the Company's financial constraints and to secure further working capital to support the Company's growth prospects. The Directors believe that the Subscription, split equally between two existing A-Shareholders, Argun Investments Limited and Island Investments (Securities) Limited, being at a premium of over 80% to the Company's closing share price on 30 May 2012, is the most appropriate means of securing further financing at this time.

James Pessoa, Chairman, said: "We are delighted and encouraged that existing A-Shareholders are signalling their continuing support for TPS. The capital raised by this subscription will be used to support the growth of the business, which we continue to believe has strong prospects".

The Directors consider, having consulted with finnCap Ltd, the Company's nominated adviser, that the terms of the Subscription being entered into are fair and reasonable insofar as the Company's shareholders are concerned.

Details of A-Shares

The A-Shares are a class of non-voting share capital in TPSL and are exchangeable, upon no less than 61 days' written notice to the Company from A-Shareholders, into common shares in the Company. The A-Shares will not be listed on any stock exchange. In the event of winding up of TPSL, holders of A-Shares have a preferential right to receive an aggregate of GBP500,000 to be divided among the holders of the A-Shares on a pro rata basis, and shall not be entitled to any further distribution of the assets of TPSL. A summary of further rights associated with the A-Shares are set out in Schedule C of the Company's circular to Shareholders dated 20 October 2006 and available at the Company's website at

Following the Subscription, there will be 892,777,778 A-Shares in issue. Should all A-Shareholders give notice to exchange their A-Shares into common shares of the Company, 892,777,778 new common shares of the Company would be issued, representing 21.1% of the enlarged issued share capital of the Company.

Enquiries:


Turbo Power Systems Inc Tel: [phone]
Peter Brown, Chief Executive Officer

[topinfo] 31/5/2012 13:57

TPS look at the sp


As set out in recent announcements, the directors of the Company (the "Directors") have extensively explored options for addressing the Company's financial constraints and to secure further working capital to support the Company's growth prospects. The Directors believe that the Subscription, split equally between two existing A-Shareholders, Argun Investments Limited and Island Investments (Securities) Limited, being at a premium of over 80% to the Company's closing share price on 30 May 2012, is the most appropriate means of securing further financing at this time.


Turbo Power Systems Inc ("TPS", the "Company" or the "Group"), a leading UK based designer and manufacturer of innovative power solutions, is pleased to announce that two existing holders of A-Shares in the Company's subsidiary, Turbo Power Systems Limited ("TPSL") ("A-Shares" and "A-Shareholders"), have conditionally agreed to subscribe for an aggregate of 444,444,444 new A-Shares in TPSL at a price of 0.45 pence per A-Share to raise GBP2 million of new financing for the Group (the "Subscription").

[judgement] 25/5/2012 13:38

3.3b shares now in issue.

[s34icknote] 19/3/2012 08:24

Looks like another great loss again. Great increase in turnover and debt!

[s34icknote] 01/2/2012 13:26

Looks like i,m not the only one. Its a harsh lesson if i,m true just glad it wasnt much on my % of portfolio.

[s34icknote] 31/1/2012 12:24

I,m out sold yesterday. Lost around 40%. The logic is waiting for the co to make cashflow positive!
I mis understood my investment and having read the material in effect we have 8.5 m of loans not to a bank but tAO.
If we fail another qtr then they can take the remaining shares out of circulation and why not .
Far better shares out there and fast moving ones like pfd gmg hamp and mlin 1
Do your own research i say before jumping in too quickly .

I do hope this company does survive which it will the question will be who will own it at the time its cash positive!

good luck all!

[judgement] 30/1/2012 15:42

Be very wary of companies where related party loans are secured by assets or subsidiaries.

[s34icknote] 20/1/2012 14:50

More bored holders selling out !

[s34icknote] 16/1/2012 20:31

Whens the next trading update?

[bill182] 23/12/2011 08:24

Well, the contracts continue to flow in, but the share price remains stagnant. It looks like we will have to wait until we receive a full year update before we will see any material increase!

[bill182] 17/11/2011 09:19

Interesting.....There is a 50,000 online buy limit at the moment with Barclays, which is very low. Maybe there is some contract news imminent!

[moormoney] 14/11/2011 17:15

I hope so I've been sitting on this one for a while in my isa. I'd be pleased if the share price starts moving up as I think the business is on the up!

[shammytime] 14/11/2011 10:40

Announcement to come this side of Christmas by all accounts. Looks like a real goer...

[shammytime] 04/11/2011 11:02

Hmmm...

There appears to be talk of a contract/venture with Powergen. This could get interesting...

[bill182] 04/11/2011 09:23

A bit of interest this morning! This share is very much under the radar, and could do with some further announcement of contract wins, to get the share price moving again.

[bill182] 03/11/2011 09:47

Kinghorn23 - you could well be right, but I will give them until the final quarter and year end results before making any further decisions. I expect them to turn the increased order bank into profit/greatly reduced losses, aided by the award of the Regional Grant Fund. If there has not been a material improvement, I will head for the exit!

[kinghorm23] 02/11/2011 19:42

"pay any taxes to come"

ha ha lol good one, worry about that when this company makes a profit, it truly put some incredible spin on those results and punters chased it up, basically
new contracts mean a jump in employment thus administration costs but down to
the nitty gritty it's no closer to making profits, i'd be fuming with the continuing "research and development" costs, about time they were knocked on
the head until this company generated cash.

Sorrt Bill but you really dont want to get roped into what this lot say, wont
be lot before the latest wad of cash has been burned and they are after more,
good for employment bad for shareholders.

[bill182] 02/11/2011 08:35

Kinghorm23 - I would agree that the previous history does not look good, however, there have been many changes both to the management and operations since that time. I prefer to look forward, and at the current share price and order bank, there is a turnaround in the making. Plus, they won't have to pay any taxes for years to come!!!!!

[kinghorm23] 01/11/2011 22:39

Just a brief look since 2007 and it's almost 20 million and that does
not include the loan conversions/notes etc etc.

Unreal this company manages to keep raising money.

When it was TurboGenset i can recall the money raised and burned being
much more than the above from memory.