Tyratech Share Discussion Threads

[techno20] 01/6/2013 08:19

Mdchand - I was about to take the plunge on these, but a recommendation from RHPS is enough to put me off!


Look at the section on portfolio changes. They sold 12 stocks during the month, 10 of which were at a loss! I've not got my calculator out, but the average is about 50% down! And the market's been flying!

Hopefully Tyr will prove an exception, as the story is developing nicely IMHO.

Techno

[mdchand] 31/5/2013 23:58

All - this has been given a nice write up in RHPS this month. Target price 25p.

[zelder] 31/5/2013 14:47

Yes, many thanks sidam. All sounds very good.

[luminoso] 31/5/2013 13:59

Thanks, sidam. Much appreciated.

[sidam] 31/5/2013 12:36

Some feedback from meeting. It was generalist rather than specific and there was not time to get into real detail on numbers.

However, the only numbers out there are those from First Columbus. If you read their note you will see that the analyst mentions the possibility of much higher revenues that he projects. However, his revenue numbers are from two streams: Product sales and collaboration. The accounting recognition of collaboration revenues is complicated. Management indicated that some of the numbers in the note were from prior periods. Despite that the cash may already have been received, so not all those numbers are cash coming in.

An interesting point, however, was that none of the numbers arose from the JV with AM Van. That will be treated as an associate. It will not be a cash drain as the agreement is that AV will finance any required working capital at 3% over libor. Looking further ahead, the JV should distribute any cash surplus to one year's requirements.

Management indicated that there were happy with the numbers, but added that these could be conservative the further out one looks. They also said that their internal projections were substantially higher in the longer term.

It was indicated that the first announcement was likely to be in animal health, but that they also expected Head Lice and Mosquito products to be launched in the US this year and in the EU next. In the UK they expected to go direct, but mainland Europe had different markets and therefore they would probably go with a distributor.

First Columbus point out that the company has high operational gearing and that if sales in 2015 were 67% higher than their projection, PBT etc would be 130% higher. That is what I hope, it would take EPS to over 2.5p and the shares could be a 10 bagger (PER 25) from here and that is only for a start.

So I am a long term holder. Hope this helps your deliberations.

[techair] 30/5/2013 13:48

All buys on TYR this morning. Either MMs having a little play around for stock or a sell will match it off later on

[luminoso] 30/5/2013 10:25

You can thank encarter for mentioning it elsewhere.

[nw99] 30/5/2013 08:04

Dies seem more interest last 2 days

[deepvalueinvestor] 29/5/2013 23:25

Good to finally see some interest here

[luminoso] 29/5/2013 17:51

Thanks techair and somerset lad for those replies. I saw the blue info above the posts and removed my question so as not to waste people's time !! But your replies have explained more fully the difference and I really appreciate that.
My online broker is only offering TYRU to me. I'll see what happens tomorrow.
Cheers.

[somerset lad] 29/5/2013 17:14

On the TYRU/TYR issue:

1. You can buy TYR electronically through Sippdeal and TD.

2. When the company put out its share migration RNS on 28/3/13, both brokers offered to switch TYR to TYRU so long as the shares had been held for at least a year.

3. So, my take is: I'd rather own the unrestricted shares (TYRU) because, in principle, shares are more valuable if they are subject to fewer restrictions on sale; but I would buy, and have bought, TYR when it has been cheaper than TYRU: I don't see the small difference in value as justifying anything more than a small premium, particularly given the ability to migrate.

4. If you're a shorter term trader, you might be more concerned about liquidity: there are fewer TYRU shares, but they seem -- without having checked the data -- to be traded more frequently. But the large spreads make this a longer term hold IMV.

[techair] 29/5/2013 16:40

Might get some late trades coming through now

[techair] 29/5/2013 16:39

TYRU is crest settlement and TYR is on the REG S - A regulation by the SEC to control U.S. stock sold outside the United States. It allows companies to not register their stock sold outside the U.S., and makes it easier for foreign investors to purchase the stock of U.S. companies. The regulation was created in 1990.

Read more: http://www.investorwords.com/6901/Regulation_S.html#ixzz2UhFVXLJp

Hope that helps luminoso

[mdchand] 29/5/2013 16:02

L2 showing 1x6(10k) v 2x6.5(5k)

Singers are basically chasing stock at 6p. Next move up.

[techair] 29/5/2013 15:16

TYRU moving now too

[mdchand] 29/5/2013 12:50

Encarter - wise words indeed and very true.

[mark knopfler] 29/5/2013 12:48

No chance of that. My cost was about £4000, so enough to make a difference if it surges 10 fold, and not enough to stop me eating pizzas if it fails.

I do agree about the financial position. Too many small caps fail under too much debt, even if their products are fantastic.

The right shareholders and management are a major plus here, as far as I can tell.

[encarter] 29/5/2013 12:38

MK I've had a few of these too and have won many and only ever lost 1. The secret is to make sure that they can't go bust. So with no debt and the backing of AMVAC there is no chance of that. Also don't sell out too soon and miss the big pay day..

[encarter] 29/5/2013 12:34

At a 12 month high today but 24 month high is nearer 40p so plenty of potential if they can pull of a deal.

[mark knopfler] 29/5/2013 12:30

I've had a few of these over the years. Some multibag, and some fold.

All the ingredients are here for the former, from my brief introduction to the company, and I will hopefully have something more useful to contribute to the thread in the coming weeks.

[encarter] 29/5/2013 12:28

And no debt either.

[mark knopfler] 29/5/2013 12:26

I just have. Thx NC.

Just my type of risk/reward profile then.