Tyratech (DI) Share Discussion Threads

[greedfear] 05/12/2017 15:24

What would the share price do after the tender offer when there's 1.9p cash per share?
Not much chance quoting substantially lower as a lot of people that participated in the tender offer just got paid 3p per share.
I for one would be very happy to "rebuy" at 2p.

[greedfear] 05/12/2017 15:04

Nobby-exactly!
Edit: noticed the s :)

[lr2] 05/12/2017 15:02

Well, I can assure you the posts are still there. I can definitely see them.

[mdm100] 05/12/2017 15:00

nope...wouldn't know how to !!

[lr2] 05/12/2017 14:56

No idea. Have you filtered yourself?

[mdm100] 05/12/2017 14:44

Why are my previous posts not appearing ??

[nobbygnome] 05/12/2017 13:27

He is assuming an individual person manages to sell 70% of his/her shares. Then he assumes that there will be 43% of the shares left because the other 57% have been cancelled. His cash position includes the Vamousse money minus the costs plus the existing cash. Then for that individual person with 30% left you can work out what the price needs to be to make it not worth selling at 2.3p based on the net cash post offer. Simples....

Nobby

[ferris_bueller] 05/12/2017 13:06

GF

I'm finding all the math/s a little confusing.

There are x No. of shares in issue and the sale of Vamousse is worth at least 3p per share hence(Tender Offer).

I understand your math/s regarding those that are selling now vs waiting to sell in the T/O however, not too sure where we will be post T/O for those that hold.

The Document stipulates that after Tender Offer shares have been be paid up they will be cancelled. And those that don't take the tender offer means that there is a retention of cash equivalent to 3p per remaining share. Then surely post Sale and Post Tender Offer there will be fewer total shares and a minimum capital of 3p per share for further investment.

I don't see how the share price post T/O can be lower that 3p (otherwise everyone would try sell in the T/O)

Or are you suggesting that the residual cash per share after T/O is 1.9p on top of the 3p per share for those (*158M) shares not taking up the offer
(ie 4.9p)?

Forgive me, but I am struggling with this.

Looking forward to a more clarity (if anyone can help)

regards
ferris

[nobbygnome] 05/12/2017 12:26

>> greedfear

I follow your maths (please note the s).
Nobby

[michaelsadvfn] 05/12/2017 12:11

.

I'm having trouble following you !

[greedfear] 05/12/2017 12:06

Selling at 2.3p makes no sense at all.
I believe one can sell at least 70% of his holding at 3p using the tender offer.

The remaining 30% would have to have a share price of less than 0.67p after the tender offer for getting a worse result than selling it all for 2.3p today. (0.7*3p + 0.3*0.67p=2.3p).

Mind you cash per share after tender offer is probably 1.9p per share ($4,000,000/158 million shares. So what are the odds share price would do 0.67p or lower?

You do the math.

[michaelsadvfn] 05/12/2017 11:50

It's an odd market ducatiman, I can only assume we are where we are because the deal hasn't yet been rubber stamped.

I expect an eventful New Year !!

[ducatiman] 05/12/2017 11:45

Ditto michaels

[michaelsadvfn] 05/12/2017 11:37

£9.47m mkt cap

£9.7m - Alliance offer without any contribution from 2019 & 2020

On that basis OutSmart, Guardian, PureScience and the rest of the technology have no value.

I'm sticking.

[nobbygnome] 05/12/2017 11:09

PS I have some TYR and TYRU on T+20s which will expire before the offer date but I am not even going to sell them in the market! Why give up 25%; seems bizarre to me.

[nobbygnome] 05/12/2017 11:00

>> mdm100

I have the exact contrary view to you. For a long term holder with a large number of shares which would be impossible to sell on the open market, this is an excellent offer from the company. I can choose how much I want to keep in the company and take the rest as cash. I am very happy with the management!

>>pug

I predict will be able to sell a lot more than 55% (actually 57% minimum) if you want to as I said earlier!

Nobby

[esuei] 05/12/2017 10:02

I have held EIS eligible placing shares for a little over 2 years. I'm not best pleased with the following from the tender offer circular:


.4 The Enterprise Investment Scheme
Shareholders who have acquired their Shares through the UK’s Enterprise Investment Scheme
but who have not held their Shares for the full three year qualifying period at the time of
disposal will lose some or all of the UK income tax and capital gains tax reliefs which would
have been available had that three year holding period been completed. This will be the case for
every such Shareholder if the Tender Offer is completed, whether or not he or she accepts the
Tender Offer. Such Shareholders are strongly recommended to consult their own professional
advisers immediately for advice on the UK taxation implications of the Tender Offer for them.


Can anyone shed any light as to why EIS benefits will be lost, and which (if any) benefits will be retained?

Thanks,

Esuei

[pugugly] 05/12/2017 09:37

MM's very happy to buy at quote but not to sell - Taking volume in but not apparently letting go - Nice for them if they hold to January !! but why selling at 2.3p? OK suppose if only small holdings and only get say 55% acceptance in tender might be too small a residual holding to be worthwhile

[nobbygnome] 05/12/2017 07:27

The directors are not selling their shares so that is 2.5% which won't be in the tender offer. I predict that you will be able to sell all or nearly all of what you want in the tender offer. I suspect quite a few people will be holding for the future value which will be created.

As I said yesterday I will sell the majority but I am going to have to ponder hard the exact amount I will apply to sell. I definitely want a sizeable stake in the future which looks exceptionally bright!

Nobby

[al h] 04/12/2017 21:37

Wot appened ta awrry duh insignifcant ?

[utrecht_00] 04/12/2017 19:48

many thanks.

[greedfear] 04/12/2017 18:47

The Tender Offer is open to all Qualifying Shareholders who are on the
register of members at the Record Date.
‘‘Record Date’’ 6:00 p.m. (GMT) 4 January 2018

[utrecht_00] 04/12/2017 18:45

when do you have to be a shareholder to participate in the offer?