(TFW) Thorpe (FW)
Summary
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| Wed 09:12 | RNS |
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RNS Number : 5739W Thorpe(F.W.) PLC 01 February 2012 1st February 2012 F W Thorpe Plc ("F W Thorpe" or the "Company") Appointment of Nominated Advisor
The Company announces that, as a result of the completion of the transfer of the business of the Corporate Advisory & Broking division of Brewin Dolphin Limited to Nplus1 Brewin LLP ("N+1 Brewin"), with effect from today, N+1 Brewin has been appointed as the Company's Nominated Adviser.
Enquiries
This information is provided by RNS The company news service from the London Stock Exchange More |
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| 02-12-11 | RNS |
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RNS Number : 2496T Thorpe(F.W.) PLC 02 December 2011 2nd December 2011 F W Thorpe Plc ("F W Thorpe" or the "Company") Results of Extraordinary General Meeting
The Company is pleased to announce that at the Extraordinary General Meeting today the resolutions proposed with regard to the Disposal of Mackwell Electronic Limited were passed.
As a result of the Disposal, both Mr Nicholas Brangwin and Dr David Dimeloe have resigned from the board of the Company with immediate effect.
F W Thorpe Plc would like to thank them both for their contributions over the years and wish them every success for the future.
Enquiries
This information is provided by RNS The company news service from the London Stock Exchange More |
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| 15-11-11 | RNS |
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RNS Number : 1073S Thorpe(F.W.) PLC 15 November 2011 15th November 2011 FW Thorpe Plc ("FW Thorpe" or the "Company") Disposal of Mackwell Electronics Ltd and Notice of General Meeting
The Company is pleased to announce that it has today entered into an agreement to sell its subsidiary Mackwell Electronics Ltd ("Mackwell") to NACB Holdings Limited (a company of which Mr Nicholas Brangwin is the sole shareholder) (the "Disposal") for a consideration of £6.5m, of which £4.5m is to be satisfied in cash on completion and £2.0m is to be satisfied by the issue of convertible secured loan notes.
In order to facilitate the Disposal the Company will provide Mr Nicholas Brangwin with a loan of £0.3m which will bear interest at a rate of 4% over base rate which, the independent Directors (which excludes both Mr Nicholas Brangwin and Mr Colin Brangwin) believe to be appropriate for a transaction of this nature.
The proceeds of the Disposal will be aggregated with the Company's existing cash balances and used for general corporate purposes. In the year to June 2011 Mackwell generated profit before tax of £1.3m.
The original rationale behind the acquisition of Mackwell was to secure an important element of the supply chain as part of the process of developing the Company's offering in the emergency lighting market. Developments in emergency lighting are now very pointedly towards the use of LED systems and this situation has required Mackwell to invest in LED technology. It has had to diversify its product range into the provision of complete LED emergency lighting luminaires and systems which often mirror products offered by other group companies and which are placed on the general market for sale to other OEM's.
Mackwell needs to and will continue to tailor its range more towards emergency LED control gear, luminaires and systems and needs to be free to do so. Over the past few years the Company has concentrated on acquiring niche businesses within the lighting industry supplying lighting products to end users within a variety of sectors. Separating Mackwell from the group will, further, allow other group companies to devote their efforts simply to pure lighting matters.
Following completion of the Disposal, both Mr Nicholas Brangwin and Dr David Dimeloe (currently Managing Director of Mackwell) will resign from the board of the Company.
The Disposal is classified as a related party transaction under the AIM Rules for Companies. Accordingly, the independent Directors of the Company (which excludes both Mr. Nicholas Brangwin and Mr Colin Brangwin) consider, having consulted with its Nominated Adviser, that the terms of the transaction are fair and reasonable insofar as its shareholders are concerned.
Furthermore, in accordance with the Companies Act the Disposal is subject to shareholder approval at a General Meeting. A circular setting out the details of the Disposal and giving notice of the General Meeting to be held at 9.00 am on 2nd December 2011 at the offices of F W Thorpe Plc will be posted to shareholders tomorrow.
Enquiries
This information is provided by RNS The company news service from the London Stock Exchange More |
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| 10-11-11 | RNS |
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RNS Number : 8787R Thorpe(F.W.) PLC 10 November 2011 10th November 2011 FW Thorpe Plc ("FW Thorpe" or the "Company") Annual General Meeting statement
At the Annual General Meeting of F W Thorpe Plc, Chairman, Andrew Thorpe, made the following statement.
"Now comes to the time to say a few words on the future:-
I am pleased to be able to say that the new financial year has brought a modest continuation in our trading fortunes with sales, at this time, being above last year.
The national and global financial conditions remain, as they have in recent times, to be most volatile, however your company continues to invest in all areas of the business to improve manufacturing capability and to develop further new and improved customer offerings.
The thirst for energy saving in the use of lighting remains a key driver for our company."
For further information, please contact:
FW Thorpe Plc Andrew Thorpe - Chairman and Joint Chief Executive Tel: 01527 583200
Brewin Dolphin Limited - Nominated Advisor Matt Davis Tel: 0845 2134730
This information is provided by RNS The company news service from the London Stock Exchange More |
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Is this on the aquisition trail or is it a target sell off of subsiduary seems a bit illogical rather than a bit of group rationalisation and shared investment. Or do they wish to have the option of cheap finance to invest in produuct development.
Any insight from those in the know? |
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| 15-11-11 | ||||
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FW Thorpe in £6.5m disposal
15/11/2011 Miles Nolan http://www.growthcompany.co.uk/news/1670728/fw-thorpe-in-65m-disposal.thtml Lighting equipment specialist FW Thorpe (TFW) has announced the £6.5m sale of its Mackwell Electronics subsidiary to management. The Walsall based firm was originally acquired by FW Thorpe to secure a useful part of the supply chain in its bid to develop further in the emergency lighting market. Developments in this sector are now shifting the emphasis towards LED products, forcing Mackwell to invest in new technology. Of more significance it has meant that Mackwell now sells products which rival some of those supplied by other group companies. The disposal includes £4.5 million of cash, £2 million of loan notes, and to facilitate the deal FW Thorpe is to advance a £300,000 loan, which will bear interest at 4 per cent over the base rate. Recent results from the AIM counter confirm it is trading well. In the year to June, sales increased 12 per cent to £62.5 million, as pre-tax profits jumped 14 per cent to £12.9 million. The recent AGM confirmed the new financial year had got off to a reasonable start, with a 'modest continuation' in its trading fortunes. The disposal makes commercial sense, and also helps bolster its already cash-rich balance sheet. Shares in FW Thorpe are up 2.5p today, valuing the West Midlands based group at £93 million. Tags: AIM market, Cash rich, Disposal, Growth company, Lighting products Sector: Electronic & Electrical Equipment Companies: F W Thorpe |
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| 18-03-11 | ||||
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Mr Dependable: FW Thorpe
Created: 18 March 2011 Written by: Nigel Bolitho FW Thorpe deserves its peak share price because its Mr highly dependable. It eschews earnings-reducers like share options and believes that capital spending should be funded by cash flow. And despite increasing stocks of glass, plastic, steel and electronics in the half year to end-December to counter price rises, cash balances then were £1.76m higher than 12 months before and little changed from six months ago. Note also that extra contributions have helped halve the defined-benefit pension contribution to just £960,000 year on year. The key and dominant subsidiary of Thorpe is Thorlux which makes industrial, commercial and outside lighting. In the latest half year it reported total revenue (including inter-company sales) up from £20.60m to £22.14m but operating profits only edged ahead to £4.24m. In contrast, the Mackwell emergency lighting controls business increased profits from £72,000 to £332,000 while other small businesses reported profits £40,000 ahead at £212,000. They included a good contribution from clean room lighting while losses from an Australian joint-venture seem to be falling. The other businesses cover retail and antique lighting and emergency signage. FW THORPE (TFW) ORD PRICE: 745p MARKET VALUE: £87.3m TOUCH: 730-760p 12-MONTH HIGH: 745p LOW: 575p DIVIDEND YIELD: 2.3% PE RATIO: 10 NET ASSET VALUE: 450p* NET CASH: £24.5m Half-year to 31 Dec Turnover (£m) Pre-tax profit (£m) Earnings per share (p) Dividend per share (p) 2009 28.3 4.68 28.5 4.1 2010 31.5 5.01 30.9 4.3 % change +11 +7 +8 +5 Ex-div:13 April Payment:10 May Aim: Electrical equipment *Including intangibles of £2.72m, or 23p a share Guide to the terms used in IC results tables. More analysis of company results More share tips and updates... TIP UPDATE Buy Thorpe does not believe in brokers forecasts but chairman, Andrew Thorpe, is cautiously optimistic!. If the company merely repeats 2009-10 profits of £11.28m, earnings work out at 70p. And that translated means a PE ratio of less than seven. With so much cash Thorpe could consider another special 12p a share dividend. Solid, cash rich Thorpe continues to deserve a buy rating. Last IC view: Buy, 650p, 27 September 2010 |
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| 29-11-10 | ||||
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I agree with you that this appears an excellent company. See this article by way of further confirmation :
http://blog.iii.co.uk/?emv_mid=1106493446&emv_rid=1013315821267 As to future prospects you really have to look at the last Trading/Half Yearly Report ; contact the company and/or research the industry generally. Hope this helps |
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