does tanfield have 2 good businesses ( smith electrics and upright)which are good value for the medium to long term hold ?

Well done gibby.

Stange thing is, TAN and the old Worthington Nichols are about the only 2 companies that I haven't lost money on at some point or other which is a bit bizarre as many people have!

Once the shorters have closed their initial positions which is where you made money, I've found that any further attempt to play this market doesn't work so I think you're wise in leaving it alone now.

thanks dealerdear - wow not lost money on tan - you have done well and good on you - i got my timing wrong some time ago on - so been wary of tan ever since - at the moment i would not want to be in they seem up to their necks in it - credit likely not to be available and would anyone want to part with cash to help them out here - i would be surprised - and yes think wise to leave now - but still watching as i suppose many are - have a good day

Open Offer



TIDMTAN

RNS Number : 3119S
Tanfield Group PLC
08 September 2010

?
08 September 2010
TANFIELD GROUP PLC ("Tanfield" or the "Company")
Open Offer of 20,000,000 new Ordinary Shares at 10p per share
Highlights
� Open Offer to all shareholders of 20 million new ordinary shares to raise
up to GBP2.0m before costs
� Issue Price of 10p per share (31.0% discount to closing price on 7
September 2010), one new share for approximately every 3.7 existing shares
� Over 90% of Open Offer underwritten by certain Directors and Institutional
Investors
� Directors undertaking to take up entlements in full in respect of their
beneficial holdings
� Provides short term working capital to allow completion of expected
electric vehicle consolidation
� Certain Directors also providing GBP750,000 standby loan facility in the
interim

Jerry Wooding, Deputy Chairman of The Tanfield Group Plc, said:
"The Board believes that this fundraising represents the best solution to
Tanfield's immediate working capital requirements and the high proportion of
underwriting gives us certainty of success of the Open Offer"
"It is imperative that shareholders support this initiative by voting in favour
of the resolution at the General Meeting on 30 September 2010, whether or not
they are planning to take up their entitlement under the Open Offer."
This announcement should be read in conjunction with the full announcement below
and Circular which will be posted to shareholders today and is available on the
Company's website www.tanfieldgroup.com .

Market is silly at times, price yesterday was struggling and today they issue
a well discounted offer and now people are chasing it ?

I thought 13.5p bid was generous, 14.75p is crazy on a 10p offer placing.

sp should "match" the offer - as time draws close to the cut-off date.
However, the issue for me - do I give these Bounders any more money - Will they - up against the outside wall of their local boozer?

sadly thought this one a winner .. out now .. didnt cost too much .. so cant complain

Looks like steady buys over past few days.

I've just taken up my allotted shares, possibly a stupid move, time will tell! Not much cash involved though.

kim

What is it now in old money?

Not a lot!

Dealer, I'm afraid I have lost track of it's real term price now, but Skinny's chart just about says it all!!

Thanks both.

Just for interest, I been trawling through their reports and it was a 1:5 consolidation so in old money I guess that is about 2.2p.

Interesting to note that post consolidation, directors were buying at around 58p!

TANFIELD GROUP PLC ("Tanfield" or the "Company")
Result of Open Offer
On 8 September 2010, the Board of Tanfield announced details of a share issue to
raise approximately GBP1.8m (net of expenses) through the issue of up to
20,000,000 New Ordinary Shares through an Open Offer for which the Company had
undertakings from the Directors to subscribe for 1,614,554 Open Offer Shares
(representing the Open Offer Entitlements in respect of their beneficial
holdings of Ordinary Shares). In addition, the Underwriting Group had agreed to
subscribe for, in aggregate, up to a further 18,250,000 Open Offer Shares, to
the extent that these were not taken up by Qualifying Shareholders.
The Open Offer has now closed in accordance with its terms and Tanfield is
pleased to announce that it has received valid acceptances under the Open Offer
in respect of 10,083,145 Open Offer Shares from Qualifying Shareholders which
represents a take-up of approximately 50.42% of the Open Offer Shares.
Accordingly, the remaining 9,916,855 Open Offer Shares representing 49.58% of
the Open Offer Shares, have been allocated to members of the Underwriting Group.
The Open Offer remains conditional, inter alia, upon shareholder approval, which
will be sought at the General Meeting to be held at 9am on 30 September 2010 at
Vigo Centre, Birtley Road, Washington, Tyne and Wear, NE38 9DA.

It is expected that Admission will become effective and dealings in the New
Ordinary Shares will commence, at 8.00 a.m. on Friday 1 October 2010. New
Ordinary Shares in certificated form are expected to be credited to CREST
accounts as soon as possible after 8.00 a.m. on Friday 1 October 2010, and
definitive share certificates for the New Ordinary Shares in certificated form
are expected to be dispatched within 10 business days of Admission.
Terms defined in the Circular published by the Company on 8 September 2010 shall
have the same meaning in this announcement unless the context otherwise
requires.

On the move up ??

It's anybody's guess what the terms of the SEVUS/SMITHUK will turn out to be. Unlikely to be anything like the terms that were on the table a few months ago - so we can forget about those. But it does look as though the deal might be finalised this month.

If the new terms look bad for Tanfield (which they may well do, compared with previous indications), that might have a (further!) negative impact on the share price - unless accompanied by some very nice indications of how Tanfield might benefit when SEVUS floats on the Nasdaq next Spring. I don't imagine Tanfield's percentage stake in SEVUS then will be more than a third of what it is now, but could still be very valuable if the float goes well.

AGM This month ?

patshere - from the recent rns - "The Board announces that the adjourned Annual General Meeting will re-convene on 21 October 2010."

Thanks.

In auction +25%

It's nice to see a bit more director cash being put in.

Purchase of Shares by Directors

The Company was informed today that, certain Directors, have purchased additional shares in the open market. Mr Roy Stanley purchased a total of 1,250,000 shares at an average price of 13.2p between 30 September and 4 October and Mr Darren Kell has purchased a total of 1,250,000 at an average price of 13.7p on 1 October and 4 October.

In addition, the Company was also informed that, Brendan Campbell purchased 77,092 shares at 12.76p on 30 September, Mr John Bridge purchased 50,000 shares at a price of 12.72p on 30 September and Mr Jeremy Wooding has purchased 31,209 shares at 15.75p on 4 October.


Following these purchases the interests of the Directors in the Company's issued Ordinary Share Capital will be as follows;


No of. Ordinary Share % of Share Capital
RRE Stanley 12,378,756 13.16%
DS Kell 3,447,811 3.66%
BJ Campbell 106,343 0.11%
JN Bridge 76,044 0.08%
JM Wooding 31,209 0.03%