Tyratech (DI) Share Discussion Threads

[dellers01] 15/2/2014 21:40

Both shares will move a more or less the same % so the difference in prices is irrelevant.......unless I've missed something?

[deepvalueinvestor] 15/2/2014 21:14

Dellers, why convert? Well, because there is a 5p price difference! The problem is that tyru may not be at a premium to tyr when I convert in April.

[dassaco] 15/2/2014 19:52

I also bought my TYR through 'TD Direct Investing' (TD Waterhouse)with no problem over a year ago as they were cheaper then than TYRU.

[briangeeee] 15/2/2014 17:12

dvi, there are some Reg-S TYR shares that have been in existence for a long time - well over the required one year. There are new ones that have come from the recent fund raise, and settle on 21st Feb.

How can they all have the same conversion date restriction?

It seems to me that the date of issue should be printed on the share certificates. Due to the significant current price differential, those can can be converted immediately should be more valuable than those with a further year to run?

[dellers01] 15/2/2014 16:04

Why is there a need to convert? surely the shares are just different denominations. They rise and fall together at more or less the same %, you won't make more on one type than the other? Or am I missing something significant?

[deepvalueinvestor] 15/2/2014 12:33

I don't think so. Normally brokers covert once a year but clearly with such a difference in price, tyru holders will be keen to convert a.s.a.p so it will depend on the policy of each broker. Clearly they have to wait for tyru to be registered with the registrar so it does take some time.

In short, you need to find a broker where you can buy tyr and also one big enough to have the admin teams in place to covert. The likes of HL are cheap but there is perhaps a case to have investments with a large discretionary manager. I'm not going to mention names but look around.

[briangeeee] 15/2/2014 11:16

dvi, how is the conversion restriction implemented? There are lots of TYR certificates. Does each have a different date? If so, in a situation like this, the difference in date should make a difference to value within same ISIN?

[deepvalueinvestor] 15/2/2014 10:45

Dellers, not really profit taking but sensible investors dumping tyru and desperately trying to switch into tyr. The only problem is that the market makers are short tyr and are refusing to sell much stock. They clearly could solve the problem by increasing the price of tyr but, bless them, they are trying to protect their position and hoping that tyru stops rising.

I will be interested to know which broker is the quickest at converting as their customers will be able to keep selling tyru, buying tyr, converting to tyru, selling tyru etc. my guys can do it in April but sadly no quicker.

[jaf111] 14/2/2014 21:19

Ditto zelder.....Looks like that's a gold star to TD Waterhouse.....makes a nice change!

[modform] 14/2/2014 20:07

Thanks zelder, hl are quite strange, I couldn't buy Seagate in US, so I phoned them up and they said it's because of settlement fee. Thanks for your advice

[zelder] 14/2/2014 19:50

modform- HL don't trade TYR, not that many brokers do.

I bought mine (TYR) through 'TD Direct Investing' (TD Waterhouse).

[modform] 14/2/2014 19:27

Why I only see tyru on hl and tyr doesn't appear. I hold some US stocks so I have filled the form. Any thoughts please guys

[bozzy_s] 14/2/2014 16:58

Sven (post 71) take a look at TYR and TYRU news history. And earlier comments on this BB by michaelsadvfn and others. TYR and TYRU are one of the same stock. It's explained very clearly via old RNS announcements.

Basically to buy TYR in the UK, individuals have to fill in a form (w8ben) with their broker. To avoid that very slight inconvenience, in the past few days traders have bought TYRU at a huge premium instead. Same shares. Same company. Historically both have traded at the same price (of course!).

So in the very near future TYRU will drop 5p, TYR will gain 5p, or a combination of both. Given the 5p placing shares are admitted to trading next Friday, I'd expect a huge selloff in TYRU.

Tried to open a short position with IG this afternoon at 18p, 18.5p, 19.5p and again at 18.5p. No luck at all. Also tried to go long on TYR at 13p, also without luck.


From michaelsadvfn link above (thanks for the info by the way):

TyraTech currently has 168,776,305 common share in issue of which 1,084,413 are held in Treasury. The number of restricted common shares trading under TIDM 'TYR' is 117,352,576 and the number of unrestricted common shares trading under TIDM 'TYRU' is 51,423,729. Settlement of shares trading under "TYRU" is available via CREST.

[dellers01] 14/2/2014 16:41

Bit of profit taking in the last 30 mins I guess

[nobbygnome] 14/2/2014 16:37

So just the 61% up in the end. It did touch my predicted 20p but didn't hold it!

Nobby

[sven2006] 14/2/2014 16:09

so why have they two share tickers - bloody strange

Sven

[michaelsadvfn] 14/2/2014 15:58

Yes, probably bought back the 800k they sold on 20th Jan.

Perhaps they're just a bit indecisive?

[someuwin] 14/2/2014 15:53

They bought 2 million TYRU yesterday

[michaelsadvfn] 14/2/2014 15:39

someuwin 14 Feb'14 - 15:26 - 66 of 67 0 0

Close Asset Management Limited are no fools....

Is that why you don't work there?

[someuwin] 14/2/2014 15:26

Close Asset Management Limited are no fools.

[someuwin] 14/2/2014 15:18

I want TYRU now!

[michaelsadvfn] 14/2/2014 15:16

LOL!! After holding TYR for 1 year you can then automatically convert them to TYRU shares.

[someuwin] 14/2/2014 15:11

I prefer TYRU to TYR