Discussion
Disclaimer - Please excuse the following if it's complete bollox
One point of view -
1. NS doesn't seem to quite know what the hell to do with the company.
2. Moving it may, or may not, increase quality, but it's unlikely to reduce the price, especially if talking to Bertone. It's also going to cost a lot to set up, take a lot of time, and have a substantial impact for better or worse (more likely) on the brand, image, character, etc.
3. He can't sell it as in its current state it's not worth a whole lot - definitely substantially less then he's put in to it.
4. The management may, or may not, want to buy it, but given the comments on here, it's debatable whether you want them in charge (some maybe, but it would appear not all).
5. The key people with a vested interested in seeing it continue are the workers, owners and dealers.
One (more!) possibility -
1. Some form of public/private offering
2. Limits on share acquisition for current directors (i.e. none or minor holdings - this is a formal proposal for IPOs in the US).
3. Guaranteed allotments for workers (via holding company, trust, etc)
4. (Optional) Guaranteed allotments for dealers and owners (also via holding co or fund) - bit like a credit union, where you are both a customer and a share holder.
5. Remaining (? %) to the public.
6. Number of shares/Price to provide some return to NS and enough to cover both operating costs and investments for the coming 2 years.
You would then have enough funds to re-start the business, and a body with voting powers to decide on the management board.
Is this even remotely feasible, and how to go about it?
One point of view -
1. NS doesn't seem to quite know what the hell to do with the company.
2. Moving it may, or may not, increase quality, but it's unlikely to reduce the price, especially if talking to Bertone. It's also going to cost a lot to set up, take a lot of time, and have a substantial impact for better or worse (more likely) on the brand, image, character, etc.
3. He can't sell it as in its current state it's not worth a whole lot - definitely substantially less then he's put in to it.
4. The management may, or may not, want to buy it, but given the comments on here, it's debatable whether you want them in charge (some maybe, but it would appear not all).
5. The key people with a vested interested in seeing it continue are the workers, owners and dealers.
One (more!) possibility -
1. Some form of public/private offering
2. Limits on share acquisition for current directors (i.e. none or minor holdings - this is a formal proposal for IPOs in the US).
3. Guaranteed allotments for workers (via holding company, trust, etc)
4. (Optional) Guaranteed allotments for dealers and owners (also via holding co or fund) - bit like a credit union, where you are both a customer and a share holder.
5. Remaining (? %) to the public.
6. Number of shares/Price to provide some return to NS and enough to cover both operating costs and investments for the coming 2 years.
You would then have enough funds to re-start the business, and a body with voting powers to decide on the management board.
Is this even remotely feasible, and how to go about it?
I cannot think of anyone who would support bringing TVR to the market in its current state.
You bring companies to the market when they are doing well and need to raise money for expansion etc not bring them to the market because they are f*cked and sales have dropped and they need money to get them out of a hole.
I can't see any institution backing this. I presume NS is effectivley 100% shareholder. Also dependant on his original purchase price and how much money they raised would depend on how much of his stake he sold and i doubt he would give loads to the management and staff and especially dealers.
Also companies do well on good news, increasing earninigs, increasing sales etc etc and do badly on bad news, decreasing sales etc
Can TVR in the immediate, short and long term prove they can make money and deliver returns to private/institutional shareholders.
I doubt it very much.
Private offering maybe for the right price and backing, public, i would be gobsmacked if they did, and if they did the free float i would suspect would be tiny and be illiquid.
You bring companies to the market when they are doing well and need to raise money for expansion etc not bring them to the market because they are f*cked and sales have dropped and they need money to get them out of a hole.
I can't see any institution backing this. I presume NS is effectivley 100% shareholder. Also dependant on his original purchase price and how much money they raised would depend on how much of his stake he sold and i doubt he would give loads to the management and staff and especially dealers.
Also companies do well on good news, increasing earninigs, increasing sales etc etc and do badly on bad news, decreasing sales etc
Can TVR in the immediate, short and long term prove they can make money and deliver returns to private/institutional shareholders.
I doubt it very much.
Private offering maybe for the right price and backing, public, i would be gobsmacked if they did, and if they did the free float i would suspect would be tiny and be illiquid.
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