Tandy Leather Factory Inc TLF

Consumer Cyclical

Tandy Leather Factory, Inc. is a specialty retailer of leather and leathercraft-related items. The Company's product line includes leather, leatherworking tools, buckles and adornments for belts, leather dyes and finishes, saddle and tack hardware, and do-it-yourself kits. The Company also offers production services to its business customers such as cutting (clicking) and splitting and some assembly. It distributes product under the Tandy Leather, Eco-Flo, Craftool, CraftoolPro and Dr. Jackson's brands, along with its premium TandyPro line of products. It operates a production facility in Fort Worth, Texas. The Company sells its products through Company-owned stores and through orders generated from its global websites, and through direct account representatives in its commercial division. The Company distributes its products through its approximately 101 North American stores located in 40 states in the United States and six Canadian provinces, and one store located in Spain.

NDAQ:TLF - Post by User

Tandy Leather Factory Inc

<< Previous

Bullboard Posts

Next >>

Post by real16on Jun 25, 2009 8:42am

478 Views

Post# 16097246

Complaint

Hi,

I am not sure if you are the right people to be contacted regarding this matter. If not, perhaps you could forward this complaint to the right authority or authorities.

I hold a great number of Telford Services Group shares and I have for many years. Unfortunately, on June 16, 2009, Telford Services Group, Inc. (TLF - TSX Venture), ("Telford") announced that Aviation Acquisitions Inc. has mailed its previously approved cash offer to the Telford shareholders to acquire by way of take-over bid all of the outstanding Telford common shares at a price of $0.10 per share (the "Offer"). If all Telford Shares (19,891,664 diluted) are tendered the purchase price would be approximately $1,989,166.

What I do not understand if that Telford Services Group is allowed to go ahead with this transaction at $0.10 per share in spite of the fact that the actual book value is at $0.58 per share with a Revenue/Share of $1.03, based on their own financial data as shown below:

-----------------------------------

Financial Highlights (All data for latest 12 months)

Sales

20.57 Mil

Revenue/Share

1.03

Income

0.20 Mil

Earnings/Share

0.01

Net Profit Margin

1.00%

Book Value/Share

0.58

Return on Equity

1.70%

Dividend Rate

0.00

Debt/Equity Ratio

0.52

Payout Ratio

0.00%

---------------------------------

This means that many shareholders like myself are simply being pushed into a corner and basically being financially hurt. Is this move by Telford Services Group legal? Can a company like Telford Services Group simply decides one day to sell all of the outstanding Telford common shares at a price of $0.10 per share when it is actually worth a lot more as indicated above?

I am contemplatinf retirement in about one mone and in all honesty, I (like may others) cannot afford taking such a loss especially when the Telford Services Group share price numbers do not add up.

Your advice would be greatly appreciated and if possible, can you look into this matter in order to determine if Telford Services Group is doing an improper move.

Thank you very much in advance,

<< Previous

Bullboard Posts

Next >>

How a junior advances one of the largest undeveloped diamond projects