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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Tyman Plc | LSE:TYMN | London | Ordinary Share | GB00B29H4253 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 398.00 | - | 0.00 | 00:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Date | Subject | Author | Discuss |
---|---|---|---|
13/8/2024 15:40 | If anyone has kept any Quanex shares, I've started a new thread here - | jeffian | |
01/8/2024 09:54 | Well it started as "Goodbye Greg" and now it's "Goodbye Tyman". Goodbye. | jeffian | |
13/7/2024 15:22 | Whilst it remains available, 2023 Annual Report. Remuneration report begins P132 | glavey | |
09/7/2024 05:48 | 24th Mar. '23, Holdings in Company: Teleios Capital Partners LLC 16.03% 6th Apr. '23, Directorate Change: "Tyman announces that Jo Hallas has decided to step down as Chief Executive Officer and Director of Tyman with effect from today, by mutual agreement with the Board." 27th Nov. '23: Upon notice of his appointment as CEO, less than 5 months prior to the recommended takeover announcement, Rutger Helbing commented: "I am delighted to be joining Tyman at such a significant time in its development. The Group is a business of significant scale and great potential, with market-leading brands, differentiated products and passionate and dedicated employees that serve highly attractive end markets. I am really looking forward to delivering sustainable business growth, working with the Board and my future Tyman colleagues to create further value for our shareholders." 7th Mar. '24: On release of Final Results, Rutger Helbing, Chief Executive Officer from 2 January 2024, commented: "Since I joined Tyman, I have had the opportunity to visit 14 of our manufacturing sites so far, encompassing all three divisions. These visits have enabled me to better understand our market-leading brands and differentiated products, and to meet many of our passionate and dedicated employees. The structural growth drivers for the Group remain attractive, although leading indicators for our major markets are currently signalling a challenging market outlook for 2024. However, given our self-help measures and a full-year contribution from Lawrence, the Board expects the Group to make progress in 2024." 22nd Apr. '24: Tyman PLC Recommended Cash and Share Offer 12th Jul. '24: Goodbye Greg; goodbye Tyman. Another one bites the dust. | glavey | |
05/7/2024 10:55 | Sorry, loose use of language. It was supposed to be a 'heads-up' that if you want to hold Quanex shares you should have a W-8BEN in place. I don't know about other platforms but HL will simply sell US shares without a by-your-leave if you don't have one which could interfere with tax planning etc. | jeffian | |
05/7/2024 08:43 | But it's not though, is it! It's not the bidder who is putting up the special dividend but Tyman - the proposal comes from the Tyman board. It's the Tyman board who are 'keen' to push this deal though, lead by the new CEO (likely under 'instruction' of the activist shareholder.) As part of the Quanex offer is shares in the combined entity, extracting 15p/sh from Tyman leads to a weaking of the value of the resulting consolidated group, so TYMN shareholders are effectively being asked to accept partial set-off elsewhere (or think of it as being asked to give part of that 15p back). Smoke and mirrors! It was a part cash, part stock offer. Meantime, the Quanex share price has also dropped since without any compensatory proposal from them (in fact, quite the opposite), all suggesting they are already stretched. The TYMN share price action is suggesting that other shareholders are not overly impressed and are not convinced that this deal will proceed. Who can blame them, it is, shall we say, somewhat unattractive. If the deal is so great, why don't the Quanex shareholders think so either? It is hard to be persuaded to vote in favour. CDIs are UK securities representing an underlying interest in an overseas security. They 'mirror' the underlying interest, hence can be affected by exchange rate movements, are subject to witholding taxes on dividends and other restrictions. W-8BEN does not "deal with it", it enables a reduction in U.S. withholding tax from 30% to 15%. | glavey | |
28/6/2024 10:54 | Nice surprise that the bid has been sweetened with a 15p Special Dividend. I'm not sure I've ever come across an uncontested bid where the bidder has voluntarily increased the bid! I understand the reason (weakening of Quanex share price/$ weakness) but with foreign bidders it is always going to be a 'moveable feast'. Let's hope the $ doesn't go up sharply again and they ask for their money back! Re the comment above about withholding tax, the plan is to give UK holders CDI's (which HL have confirmed to me can be held on their platform inside or outside an ISA) but I'm not sure whether these are treated as 'UK shares' or whether US withholding tax will apply. If the latter, just a 'heads up' to make sure you have a Form W-8BEN in place to deal with it. | jeffian | |
24/4/2024 14:12 | Was reflecting upon historical performance. But yes, at appx. hypothetical bid price, although that would assume things over the pond hold up and TYMN holders cut and run. Otherwise 'new NX' likely considerably lower and subject to withholding tax... Generally I think the offer has a whiff of contrivance about it. | glavey | |
24/4/2024 10:49 | Not sure I get that, Glavey. Last TYMN full year div was 13.7p/bid price 400p = 3.425%. Anyway, the point is that for income investors, the equivalent dividends if they accept Quanex shares will be considerably lower than they get now. | jeffian | |
23/4/2024 02:37 | Tyman dividends better than that: Scroll down.... Versus: | glavey | |
22/4/2024 15:03 | Mind you, another issue to be considered is the dividend. I note that the yield on Quanex is 0.92% compared to about 3.5% for TYMN at the bid price. | jeffian | |
22/4/2024 14:24 | Right, read a bit more now and to answer my own question (#226) it appears that the new shares will only be listed on NYSE but UK shareholders wishing to hold any or all of their shares can do so in UK via CDIs. "The Enlarged Group will be listed on the NYSE. Quanex intends prior to completion of the Transaction to establish a CREST depositary interest dealing facility for the benefit of the Tyman Shareholders who hold their Tyman Shares in uncertificated form so as to facilitate the trading of the New Quanex Shares from outside the United States. Details of how UK shareholders can hold, access and trade the New Quanex Shares will be set out in the Scheme Document." Generally, CDIs seem to be pretty well equivalent to holding UK listed shares but I think the dividends may be subject to US Witholding Tax (should be off-settable against UK tax). I don't know whether all platforms are set up to deal with this (I'm with HL). I suppose many/most will be thinking 'well why not just take the money and run?' but there are 2 reasons some (including me) may wish to continue to hold - 1) to participate in any future growth unlocked by the merger and 2) to avoid, defer or limit the impact of CGT which is not triggered by a share-for-share transaction. | jeffian | |
22/4/2024 12:57 | Glavey, just sell the shares and take the cash. | rcturner2 | |
22/4/2024 12:25 | Course you have, though you have never posted here that you bought any, and have ramped GNC on multiple boards pretending you are selling everywhere else. You are not honest. | wad collector | |
22/4/2024 09:49 | Out now & money moved to GNC | blackhorse23 | |
22/4/2024 09:06 | Well I wasn't expecting that! Haven't quite absorbed it all yet. Will the new shares be London-listed or NYSE only? Some issues for UK shareholders if the latter. | jeffian | |
22/4/2024 08:35 | Dreadful offer. Hope this gets rejected! Only 240p cash and some 'hyped' US listed paper to make up the balance, claimed to be worth 400p. It's more like 320p in sensible value against a depressed share price of circa 300p making it a derisory offer. After the GFC, Louis Eperjesi (now a NED at Howdens) grew this co. very successfully over 10 years by aquisitions before his retirement. His successor, Jo Hallas, didn't achieve so much before drifting away although admittedly that period included the pandemic. Now her interim stand-in, Jason Ashton (CFO) and her eventual successor of just 3,1/2 months, Rutger Helbing, 'and co.' have sold the business down the river (in support of their own interests, it would seem). Defenestration would seem an appropriate response. | glavey | |
25/7/2023 18:09 | Paul at Stocko covered this today. Summary is "moderately positive, at a quick glance. A PER of about 10, divi yield of 4.7%. Upbeat-sounding outlook comments today, and a cyclical recovery to factor in at some later stage." | dunns_river_falls | |
25/7/2023 16:34 | Not sure why those results warrant a 5% increase in share price, but very welcome nonetheless. I assume it was the forward-looking statement that "we expect to deliver full year adjusted operating profit at the top end of market expectations"? | jeffian | |
12/7/2023 17:31 | Acquisition seems like a good fit. Reasonable price paid and earnings enhancing. Funded by debt. Strange time to announce but good news nonetheless. | dunns_river_falls | |
12/5/2023 14:41 | I have sold today. Taken my profits. I'm worried about the sector after the Eurocell profit warning. | rcturner2 | |
21/4/2023 09:41 | It doesn't seem to have affected the share price much but the resignation of the CEO 'with immediate effect' was clearly unexpected (they had to quickly alter the AGM Resolutions where she was up for re-election). Of course it could be health/personal issues-related, but it has had an impact with replacement appointments having to be made on an 'interim' basis. Wonder if there's more to come out? | jeffian | |
02/3/2023 09:50 | Solid enough but my experience of Mr. Market is that he takes any positive news as a given but focuses on any hint of negatives, so using a word like "challenging" in the Outlook statement will set the tone IMO. I have held this share since Lupus Capital days and happy to continue to do so. I'm at a stage (retirement) when I'm not looking to substantially increase capital wealth, just preserve what I've got from inflation and get a steadily rising dividend income. | jeffian | |
02/3/2023 08:46 | Reasonable results afaics, with 6% raised dividend. No market interest apparently. I no longer hold. | brucie5 |
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