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

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!