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

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%

Liberty-Electric-Cars-bids-to-acquire-Tanfield

http://www.worksmanagement.co.uk/article/28597/Liberty-Electric-Cars-bids-to-acquire-Tanfield-.aspx

http://www.thenorthernecho.co.uk/business/8457025.Electric_vehicle_firms_in

http://www.energynow.com/video/2010/11/21/building-ev-truck-tour

Another 11th hr RNS no doubt!

Lets hope it's a good one.

Big share price surge under way this week. Someone on iii BB claiming to be an employee, referring to celebration being prepared for this weekend. I've no idea if this is total nonsense, but Friday (I think?) does mark the end of the latest 60-day exclusivity period for ongoing negotiations in respect of proposed takeover of its Smith Electric Vehicles division by its US sister company. But of course any rumourmonger would know that.

A few days out with their guess. Still looking for some detailed analysis of this latest merger deal.

On two other forums, mention of potentially $3000 million per year in sales of Smith Electric vehicles, based on this extrapolation -

At Tanfield's UK facility, while sharing floorspace with the platforms division, Smith were able to produce 30 vehicles per week. If the existing US facility can do the same, and if the proposed other 19 US facilities can also do that, that's 600 trucks per week, for 50 weeks a year that's 30,000 per year. By then they will probably cheaper than now, but at the current price of around $100k each, that's $3,000 million a year in sales.

How might this projection influence the level of funding obtained in the intended floatation on Nasdaq?

Now that Smith Electric vehicles is an American company, and there's talk of it soon being floated on the US stockmarket, we might reasonably assume the US boss can plough on with building publicity in advance of the ipo. He is doing a radio interview today at 12:30pm local time (Kansas City) on a 'green radio' slot hosted by Gary Walker. The trailer suggests he will be talking about expansion plans.