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

In auction +9.4&

On edit and out of auction!

Result of General Meeting & Directorate Change


For immediate release 8 March 2012

TANFIELD GROUP PLC("Tanfield" or the "Company")

Result of General Meeting & Directorate Change



On 13 February 2012, the Board of Tanfield announced details of a £12m conditional Placing, advising that it had conditionally raised gross proceeds of approximately £12 million by way of a placing of 29,268,293 new ordinary shares of 5p each at a price of 41p per share to institutional and other investors. The net proceeds will remove supply chain bottlenecks and fulfil the growing order book in its Snorkel powered access business. The Admission of 9,407,720 shares issued under existing authorities occurred on 17 February 2012. The issue of the remaining 19,860,573 shares (the "Second Tranche Placing Shares"), was conditional on shareholder approval.

The Company is pleased to announce that the Resolution set out in the notice of General Meeting dated 13 February 2012 was duly passed at the General Meeting of the Company held earlier today.

It is expected that Admission will become effective and dealings in the Second Tranche Placing Shares will commence, at 8.00am on Friday 9 March 2012.

Following Admission of the 19,860,573 Second Tranche Placing Shares, the total shares in issue will be 123,835,511. This figure may be used by Shareholders, from Admission as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.

Terms defined in the Circular published by the Company on 13 February 2012 shall have the same meaning in this announcement unless the context otherwise requires.

The Board of Directors also announces that John Bridge and Jeremy Wooding OBE are stepping down from their roles as Non-Executive Directors with Tanfield, with immediate effect. John Bridge joined the Board in January 2001. Jeremy Wooding joined in June 2009 and was Tanfield's Non-Executive Deputy Chairman.

Darren Kell, Chief Executive of The Tanfield Group Plc, said: "I would like to thank John and Jeremy for their contributions and particularly for their help and advice as we steered the Company through a protracted and difficult recession, and the sale of the Smith Electric Vehicle division. The Tanfield Board, now appropriately sized, will be entirely focused on the future growth and return to profitability of its global Snorkel powered access business."

Back to the future as DeLorean goes electric

Preliminary Results.

Summary

· Recovery in key markets for aerial lifts
· Turnover increased 11% to £48.3m (2010: £43.5m)
· Gross margins increased to 37% (2010: 29%)
· Operating loss before impairments narrowed to £14.99m (2010: £15.83m)
· Order book +296% as of 31 December, at £30.5m (Dec 2010: £7.7m)
· Supply chain challenges a constraint to speed of recovery
· Cash discipline maintained: Net cash at 31 December of £3.5m (2010: £3.6m)
· Successful £12 million institutional placing in March 2012 to invest in growth
· Net cash at 1 April 2012 of £10.3m

Interesting to see the return of a poster on advfn who is a chartist and very good if I may say so. He has bought back in as he feels the Tanfield chart has turned 'fantastically bullish'. He does not particularly believe in the company but studies charts.

I think he/she said "superbly bullish" :-)

the 5 year chart tells a salutary tale

So does a 12 year chart! :-)

Placing, Trading Update and Director's Dealing

21(st) September 2012

Tanfield Group plc

("Tanfield" or the "Company")

Smith Electric Vehicles Corp. announces withdrawal of IPO.

Tanfield, a leading global manufacturer of Powered Access equipment and an investor in Smith Electric Vehicles Corp. (Smith), announces that Smith yesterday announced that it has decided not to pursue its planned initial public offering. The company intends to withdraw its registration statement on Form S-1 as filed with the Securities and Exchange Commission.

"We received significant interest from potential investors, however, we were unable to complete a transaction at a valuation or size that would be in the best interests of our company and its existing shareholders," said Bryan Hansel, Smith's Chief Executive Officer. "We have instead elected to pursue private financing opportunities to support the execution of our business plan."

Tanfield will issue its interim results on the 28(th) September 2012.

"We received significant interest from potential investors".....Clearly nowhere near enough to make the IPO viable. Still fledgling technology, imo.

Toyota drops plan for widespread sales of electric car

TOKYO | Mon Sep 24, 2012 11:17am BST

(Reuters) - Toyota Motor Corp (7203.T) has scrapped plans for widespread sales of a new all-electric minicar, saying it had misread the market and the ability of still-emerging battery technology to meet consumer demands.

Toyota, which had already taken a more conservative view of the market for battery-powered cars than rivals General Motors Co (GM.N) and Nissan Motor Co (7201.T), said it would only sell about 100 battery-powered eQ vehicles in the United States and Japan in an extremely limited release.

Not humming the right tune for Toyota! Battery technology is critical.

Not doing TAN much good and in this Market I suspect any IPO would fail . . . the Public is wise to guys in suits with big promises.

Indeed a year ago TAN was offering a placement at 41p(Feb2012)DYOR and now it has shreaded that investment. . . . so presumably our Pensions Funds have taken the knock as only Coty Boys were invited, probably because it's not their money they're spending.

TAN will start to move when Constructyion and Business in general picks up, I'd give it 4-5 years . . . just hope the management can hold it together that long. Frankly I doubt they have the necessary skills.

Today's announcement effectively indicates that TAN will lose part or all of its Smith stake for little or nothing - hence the share price plunge which I think will continue once the message sinks in with the few shareholders who were hanging around still. And although, as they say, Snorkel's recovery is going well, I don't believe TAN will make much from it. Their stake will be diluted away if/when Don Ahern pumps in more dosh. TAN share price I think will soon drop into single digits.

Well, the share price held up remarkably well since bouncing after that last plunge. But the very least we will get on Monday morning is a dire announcement - and possibly a suspension of trading in TAN shares? If not, the share price must surely tumble, following the overnight news from Kansas City: Smith Electric production suspended

And suddenly I read an old RNS from Tanfield....seems their 5% holding in Smith Electric vehicles ( rather a small holding, considering the Co blurb suggests they are heavily into vehicles as well as "Access" )...or did I overlook a really large holding-business in EV?..... Well it seems Smith is out of business . . . and TAN has written-off their(= our), investment. =Feb2017-DYOR.
Rather Odd apart from never hearing anything about TAN . . . that at a time when the World is converting to Electric vehicles ( even without enough "charging-points" - our old TAN Management manages to cut itself off from the action.
That's it really . . . . I shall continue to slumber, safely knowing TAN will do no wrong ( and no right either historically.).

Blimey!