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Whilst I have said before I do not believe TCM is a share for the faint hearted and volatility is to be expected and yes does have some risk, could not agree more offers good opportunity longer term. With a number of substantial transactions yesterday IMO |Run Liang Tai are still active in the market place and building up a sizeable holding in the business and with shares held by Oozi Cats offers an excellent springboard together for any potential bidder for the company in the future should a deal be struck. Investing is always a risk but personally believe over the next 12 months the SP will be higher but we will have lots of UPS and DOWNS. DYOR & GLA
Looking at the falls in the past 2 days is this a signal for another cash call?. I got in and out of this one and thought 170p my exit point was enough, I was then surprised to see it race on up to 200p only to then fall back to 170p. Would I go back in again at 170p, not sure unless you're very confident of positive statement. If cash call happens all bets are off. Similar thing happened to laird plc last year and price crashed from 400p to a 85p 4 for 5 rights issue. I'm now into Laird now that the dust has settled a bit, but not sure what the true picture is here. Answers on a postcard please.
yesterday: "The Group is narrowing its financial guidance such that it expects revenues of $390 million to $400 million for the financial year to 31 December 2017" but 1.5 months ago "The Group expects revenues of $400 million - $430 million for year to 31 December 2017" yesterday: " adjusted EBITDA is expected to be $44 million to $48 million (2016: $54.4 million) " but 1.5 months ago "The Group expects adjusted EBITDA of $47 million - $60 million for year to 31 December 2017" "Telit expects to see, as normal, significant cash generation in the second half of the financial year" Yeah right. If a company moves costs from operations to investments it does lead to great operation cash generation numbers and terrible investment numbers. All is great until there is a cash crunch or people no longer believe the "investments" are good long term. (1year) 31 December operations: Cash from operations: 51,700 31 December investing activities.Capitalized development expenditures (30,771) (6months) 30 June operations: Cash from operations: (821) 31 December investing activities.Capitalized development expenditures (17,944) All is find as long as... "As a precautionary measure, one financing bank granted an advance waiver for any potential breach of a covenant as at 30 September 2017, relating to the ratio of, in broad terms, free cash flow generation against debt service obligations" What is this a potential cash flow breach. Well long term, all will be fine... "Separately of this review, the Board has for some time been actively considering the future of product lines which may not fit the Group's long-term strategy." Do they mean they noticed some of the investments will never pay back.... But what about all those Capitalized development expenditures that will keep on coming. Ouch "before one-off restructuring costs which are expected to be incurred as the review is implemented." Three RNS that are key http://www.lse.co.uk/share-regulatory-news.asp?shareprice=TCM&ArticleCode=6arjj66t&ArticleHeadline=Placing_of_New_Shares_raising_GBP_39_million http://www.lse.co.uk/share-regulatory-news.asp?shareprice=TCM&ArticleCode=0btzp6hd&ArticleHeadline=Interim_results http://www.lse.co.uk/share-regulatory-news.asp?shareprice=TCM&ArticleCode=qhfi1ylw&ArticleHeadline=Operational_and_trading_update
If the BOD were savvy enough,they could always offer a 50p RI to water down Yosi's holding and then grant themselves a shares package to cover their own losses. Watch this space
Well guys. Having been in and out of Telit last year for a good profit, albeit I missed the peak at 200p, good fortune came today on Laird Plc which I mentioned here.....similar IOT company. Well Laird surged today from about 115p to 202p by close of play....I'm hoping for hostile counter bid of 250p..I hope same happens to Telit...