02.02.2016
Tanfield issues new shares
Tanfield the company that still holds a 49 percent stake in Snorkel, has applied to issue 30,000 new shares.
The number of shares outstanding once the new ones are issued will be 150,954,073, which can then be used by shareholders in the company as the number for their calculations regarding the need to notify any change in their interest in the company under the FCA's Disclosure and Transparency Rules.
Vertikal Comment
Increasing the company’s share capital by around 1,000th of one percent seems odd, and hardly worth the trouble or expense. The only point would be if a particular shareholder’s holding was just over the percentage that requires the disclosure of a sale so that the minor shift tipped the balance. The saga continues.
Yes looks like Tanfield was a negative operation from the very start. And even after they have almost closed up shop the trickery continues - i'd wager a hefty sum that the Snorkel guys are glad to be clear of them!!
Yawn - does anybody care. Search for all the Tanfield press releases on this site and try to find a positive one.