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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 | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.00 | 0.00% | 398.00 | 0.00 | 00:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| - | O | 0 | 398.00 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 02/8/2024 | 07:00 | UK RNS | Official List Removal - Tyman PLC |
| 02/8/2024 | 07:00 | UK RNS | London Stock Exchange Notice Cancellation - Tyman Plc |
| 02/8/2024 | 06:31 | UK RNS | Tyman PLC De-listing and cancellation of trading of shares |
| 01/8/2024 | 14:30 | UK RNS | Syquant Capital Form 8.3 - NX US |
| 01/8/2024 | 14:30 | UK RNS | Syquant Capital Form 8.3 - TYMN LN |
| 01/8/2024 | 14:25 | UK RNS | Maven Investment Partners Ltd Form 8.3 - TYMAN PLC |
| 01/8/2024 | 14:25 | UK RNS | Glazer Capital, LLC Form 8.3 - Tyman plc |
| 01/8/2024 | 14:20 | UK RNS | BlackRock Group Form 8.3 - Tyman plc |
| 01/8/2024 | 14:10 | UK RNS | Barclays PLC Form 8.3 - TYMAN PLC |
| 01/8/2024 | 13:48 | UK RNS | Bank of New York Mellon Corp. (The) Form 8.3 - Tyman plc |
Tyman (TYMN) Share Charts1 Year Tyman Chart |
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1 Month Tyman Chart |
Intraday Tyman Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 13/8/2024 | 15:40 | Goodbye Greg; hello Tyman | 241 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|
| Top Posts |
|---|
Posted at 09/7/2024 05:48 by glavey 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. |
Posted at 05/7/2024 08:43 by glavey 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%. |
Posted at 28/6/2024 10:54 by jeffian 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. |
Posted at 24/4/2024 14:12 by glavey 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. |
Posted at 24/4/2024 10:49 by jeffian 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. |
Posted at 22/4/2024 15:03 by jeffian 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. |
Posted at 22/4/2024 14:24 by jeffian 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. |
Posted at 25/7/2023 16:34 by jeffian 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"? |
Posted at 21/4/2023 09:41 by jeffian 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? |
Posted at 17/11/2022 10:12 by sphere25 Well, the tinternet has gone down so trading blind for now. Good job it has been alot calmer of late out there. May as well type a longer post here whilst it is down, which is applicable to TYMN and alot of the market really.Interested to see how TYMN reacts today and whether anyone comes in to make a big move soon. On one hand they're trading in line, the valuation has been beaten up and there are some more bullish spirits out there of late with inflation topping out, interest rates topping out and falling away (which will be a major relief) and ultimately shares catching some demand and even causing some speculative buying in the higher risk loss making growth companies. On top of that the US market is trying to at least form a bottom and there have been some very sharp moves higher in the DAX and CAC with some nice bounces over here too. It remains to be seen how these hold depending on how long and deep the recession is. On the other hand, you are sat there thinking how the earnings are going to hold up next year and how the debt will come in to play here and elsewhere. You have all kinds of forecast of house price drops in the UK and one in the US yesterday was suggesting a 20% move down. So how deep and long will this recession be, can employment hold up and what does that mean for earnings and valuations? That all remains to be seen. If the price has been decimated, the company keeps performing or doesn't miss forecasts by too much, it is risk to the upside. If they keep downgrading (and substantially), the market could take fright with the price going lower. Clearly it is all relative. If the debt comes into play too, then the opportune time to buy might be on a discounted placing that reassures the finances and recovery of the company. The other thing is we don't know here and in the US how these aggressive rate hikes are going to eventually feed through into the economy. The markets are suggesting any recession won't be severe and earnings will hold up or most of it is in the price. Europe does not move like this otherwise. I would also say the US would have gone to test the low 3000's (based on earnings falling to somewhere around $200 and much more realistic multiple, though it can go under 14 if it were to get really bad) if they anticipated a much more severe downturn. I thought the US was headed to the low 3000's but it only fell to just under 3500 so I was miles off. Their bond curve is so inverted that a recession is on its way so are they being too optimistic into year end (seasonal short term bullish move?) with the reality hitting home hard next year as earnings fall more than they expect or the FED overdo it with QT also coming into play? Can the markets also bottom at this early stage without the full brunt of the earnings recession yet to be felt? It would be peculiar. Quality companies with good balance sheets will shine through. Not suggesting TYMN is going to be amazing, just using it to post the dynamics out there and it has been a nice trading share too. It is riskier with the debt, but when risk on returns, it just goes nuts higher (often on nothing volume once sellers have been exhausted) too so it will be a call on when bullish spirits firmly return. At the moment we have these rather unconvincing and tentative type bounces, where it doesn't take much for downtrends to resume or the price to go back into a range near the bottom without the continued bullish trend to the upside. You also already have continued warnings that are blocking the upside moves with Q3 being the highest for profit warnings since 2008: Fundamentals: Edison have some research here to form a picture of the fundamentals and multiples. Technicals: - Trend is clearly down and trying to consolidate near the bottom - 220p is firm resistance and a break of that would at least suggest a short term bullish move - A few decent blocks with 2.6m exchanged early on, nothing substantial as yet. Blow out volume could send a signal and an attempt at a trade to see if the key resistance levels can be tested. - Some decent buyers at around the 208p-209p level but nothing that says it can't keep falling from here either Leave it there. All imo DYOR |
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