Tanfield Group is the new company name of Comeleon. As I understand it, Comoleon was getting into trouble so TAN (paerent company?) took over. Since this has happened the share price has dropped by 0.25p each day for the last week or so (on average) and are now around the 3p mark with very little activity.

Does anyone know much about this company or previously held stock in Comeleon? There is virtually no info out there other than on the company website.

cheers

Mike

Tanfield raises 115 mln stg in placing at 163p/shr for acquisition UPDATE


(adds expected timing of deal)
LONDON (Thomson Financial) - Electric vehicle developer Tanfield Group PLC
said it has raised 115 mln stg through a placing at 163 pence per share to fund
a substantial acquisition.
The company said it expects the acquisition to be significantly earnings
enhancing in the first full year of ownership.
Sources close to the deal said negotiations were well advanced, and it is
understood that an announcement will be made in the next 10-14 days.

Be bigger than Ford soon :-)

I need a new car.

Dil :-)

Tanfield to buy Snorkel Holdings; raise 115 mln stg via placing


LONDON (Thomson Financial) - Electric vehicle developer Tanfield Group PLC
said it plans to acquire Snorkel Holdings LLC for 50 mln stg in cash and shares
and will assume 12.5 mln stg in debt.
The company said it will raise 115 mln stg through a placing to fund the
acquisition.
Snorkel supplies industrial aerial work platforms and has manufacturing
capabilities along with strong sales and distribution in the US and Australasia,
Tanfield said.

New broker target 230p (St Helens Capital) - previously 150p

Tanfield Group (TAN.L)
Pro forma Mkt. Cap.: 642.5m*

Recommendation: BUY
Price/Target: 184p/230p
St Helens Capital



Event: Acquisition and placing

Tanfields acquisition, subject to EGM, of Snorkel creates the third largest Powered Access manufacturer with a global footprint and comprehensive product range. Tanfield has dramatically increased its US sales and manufacturing capability through the acquisition and gained a beach head into Asia. The 50m consideration represents 7x trailing 12-month EBIT with considerable scope to increase both Snorkels growth and profitability. In order to fund this acquisition, repay outstanding debt, purchase two Snorkel freeholds and launch SEV in the US, Tanfield has raised 110m (net) at 163p/share. The transaction is marginally earnings enhancing for FY07 (+3% to 3.8p) with a considerable increase in FY08 (+29% to 7.6p). We maintain our BUY rating and set a 230p price target (150p).

Snorkel supplies "industrial aerial work platforms" and has manufacturing capabilities along with strong sales and distribution in the US and Australasia, Tanfield said.

Interesting outfit this lot, but one question though

What does "strong industrial aeriel work platforms" mean please?

Tanfield Annual Report and Accounts


RNS Number:1947Z
Tanfield Group PLC
28 June 2007

Tanfield Group plc
(the "Company")

Annual Report & Accounts and Notice of Annual General Meeting

The Company's Annual Report and Accounts for 2006 together with notice of the
Annual General Meeting, which takes place at 10:00 on 28 September 2007 at Vigo
Centre, Birtley Road, Washington Tyne and Wear, NE38 9DA are available for
inspection from our website:

Northern Echo today:


DELIVERY group TNT has agreed a six-figure deal to ship consignments from engineering company The Tanfield Group to the rest of the UK and Europe.
The North-East branch of TNT has won the contract to transport parts used in Tanfield's zero-emission vehicles from its base in Washington, Wearside, to other manufacturing sites across the continent.

Under the deal, TNT is handling up to 200 consignments through its Durham depot a week. Eddie Calland, TNT business development manager, said: "We're delighted to have strengthened our relationship with Tanfield through this new contract."

Tanfield has recorded a series of European successes recently, with trial deals being struck with Sainsbury's Online, DHL, Starbucks, Marks & Spencer and Scottish and Southern Energy, and last week revealed it was gaining a strong foothold in the US with the 50m acquisition of leading industrial platform maker Snorkel.

-----------------------

Interesting that it talks of electric vehicles being manufactured at sites across Europe, and shipping up to 200 consignments per week. Has someone let the cat out of the bag about some imminent joint venture with a bigname vehicle maker that has not been announced yet?

just read the header post.... hell 3p, damn crystal ball, work you bloody thing....

Ted, I sold at 120 firmly convinced it was overpriced ;(

hugely bullish write-up in today's Telegraph Money (Questor) section ..... too long to post but BUY was the message loud and clear .... article finishes .....

"This is a stock with enormous growth potential and minimal competition. BUY"

I'll need to get a look at the article not that I would have thought any less even more so after their recent acquisition! I'm that confident is this co that I bought more at 1.94 only a week or so ago. I've already made a very healthy sum of money after buying in at 29p, still holding and no intention of selling. Not too concerned about market conditions etc.. as this is long termer for me. each to their own.

Good luck all holders.

Telegraph Questor Article

Strawbs

Thanks cynic/Strawbs

The shares are trading on a punchy 61 times forecast earnings,

The shares are trading on a punchy 61 times forecast earnings, dropping to a more manageable 26 times earnings in 2008.

But, as with so many growth stocks, that gauge becomes slightly irrelevant.

This is a stock with enormous growth potential and minimal competition. BUY

Iankn73
Just getting back at cynic for constantly deramping GTL

No probs driver! LOL

never even saw your comment driver .... as for deramping GTL, that is a calumny; i wrote as i saw it, and seem to have been proven right ...... i see GTL going nowhere fast, whereas DOO is the reverse

80 years in the business although objectives and aims have been moulded a bit since then but nevertheless plenty of upside and well with the money. A great buy I for me at least.