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

That another 10% saving in 5 mins, for prospective purchasers. Not finished in my opinion.

oily

i was talking about my immigrant friend cynic who bought in at well over a quid not that long ago....and now he's ditched shares at well over 70% less.....even banks took about 18 months for this t happen....not a month or so like tan

out of curiosity, when in your bigotted eyes is an immigrant not an immigrant?

I know you were talking about cynic, but as I have read this BB for some considerable time now I am well aware of several profit takings made by him along the way. Thats why I suggested that he may not be on a loss at the end of his trading, this time around on this company.

Richard, when he's born here. LOL.

Back to TAN up to 8.47p to buy again.

u could be born in a stable but it doesnt make u a horse!

so woaded one declines to actually commit .... no real surprise there then

saw news prog in london other night and pakis, bangladeshis etc all in this school and children even though born here dont consider themselves as british. that proves my point.
if u r in pool, how come u still can type pish

1p soon oily

and those that are born here and/or are perhaps 2nd or 3rd generation, and think themselves british, do you regard them as such?

Tanfield shares collapse
Created: 1 July 2008 Written by: Graeme Davies
As expected following a hurried statement last week, powered access and electric vehicle maker Tanfield has warned on profits. Sales deteriorated markedly in June, management has put the brakes on its rapid expansion strategy, and there could be job losses. Furthermore, some customers have been slow to pay, inventory levels have risen and supply chain constraints have caused some delays in deliveries.



All this has the hallmarks of too much, too fast, in particular the acquisition last year of Snorkel, a powered-access provider in the US. Working capital has ballooned - there were warning signs of this several months ago - and Tanfield is not getting paid quickly enough by its customers.

This is particularly worrying, as it suggests a breakdown in financial controls, which is often the precursor to financial distress. Tanfield is insulated from that to a degree, because it has net cash on the balance sheet, but the expected reduction in sales and the expected pressure on margins going forward could soon erode that cushion.

The share price performance over the past few days has vividly illustrated the old adage "a share that's fallen 90 per cent can always fall another 90 per cent". A year ago, the shares changed hands at 184p; today they're just a twentieth of that.


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

IC VIEW:
FairlyPricedFrom one of Aim's darlings in 2007, Tanfield has become a short-seller's dream of late. Its shares have shed almost 90 per cent of their value in the space of a week, and are fairly priced at 9p.

6p now...anybody going to buy?

not me

shorters have to buy back shares at some pont though

only if the company goes into liquidation or similar and MMs must be stuffed full of stock they would like to unload

Uncrossed @5.53

Fooked. ;-))

I must admit I was tempted this morning to buy back in but am glad I didn't and don't think I will. It's a great shame as I was very excited by this company a while back. Sadly, I fear it may end up in receivership and be snapped up for next to nothing. Hope I'm wrong.

This is from today's Times:

"After Tanfields 43 per cent collapse on Friday, youd think that the maker of lifts had reached the basement and was ready to bounce back up again. Perhaps, but not everybody would agree with you.

"Mike Stoddart, the Daniel Stewart analyst who famously put a zero price target on Silverjet months before it went bust, would be one. He advised investors to sell Tanfield yesterday this despite the shares recovering 2p to 31p, before todays trading statement.

"Mr Stoddart said that his worries came from Tanfields long-delayed report and accounts, released late on Friday, which showed that even the disappointing 12.4 million annual profit unveiled in April 4 million below forecasts had been flattered by 2.2 million in foreign exchange gains."

(See also Post 758, referring to Mike Stoddart's comments)

At the moment, (right now), this is complete over reaction, and some people that have been tipping this one at a 1 can't be too pleased, no debt (at the moment)...a product that everybody wants...still (at the moment) 11 million in the bank...bank facilities available (whatever that means)....reports on a terrible day on the markets...this is not Stanelco.....they might have to sack people in America where they have taken on too much....but the way the market has reacted you would think they are going under....not just yet I would like to think....a dow jones recovery could be coming in the autumn, so 5p....5p...really crazy,....(just my opinion)....!.