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Tenaris ADR Rep 2 Ord Shs T.TS.B


Primary Symbol: TS

Tenaris S.A. is a holding company, which is a steel producer with production facilities in Mexico, Argentina, Colombia, United States and Guatemala. The Company supplies round steel bars and flat steel products for its pipes business. It operates through Tubes business segment. The Tubes segment includes the production and sale of both seamless and welded steel tubular products, and related services primarily for the oil and gas industry, principally oil country tubular goods (OCTG) used in drilling operations, and for other industrial applications with production processes that include in the transformation of steel into tubular products. It operates in geographical areas, such as North America, South America, Europe, Middle East and Africa, and Asia Pacific. Its products and services include OCTG, Premium Connections, Rig Direct, Offshore Line Pipe, Onshore Line Pipe, Hydrocarbon Processing, Power Generation, Sucker Rods, Coiled Tubing, Industrial and Mechanical, and Automotive.


NYSE:TS - Post by User

Comment by Mediawatcheron Dec 05, 2018 1:40pm
135 Views
Post# 29069976

RE:T O R S T A R : A LIKELY FILING FOR BANKRUPTCY

RE:T O R S T A R : A LIKELY FILING FOR BANKRUPTCYHi modulex,

I will give you my best future forecast for Torstar:
  • They will cut the annual dividend to 7.5 cents to stay onside with the provision that converts all of the B shares into voting A shares;
  • When the cash is depleted they will cut the dividend to zero with the hope they can avert the conversion provision;
  • When that manoeuvre fails they will go to Fairfax on bended knee to find a graceful exit;
  • Fairfax will find a way to give the appearance that the Voting Trust has some influence, but it will be window-dressing;
  • Fairfax will pay a reasonable price to all shareholders and manage these assets in a far more enlightened and responsible manner than the current gang of incompetents.
Not sure how long this is going to take to play out.  Honderich is the wildcard and he will have to come to terms with the inevitability of this outcome.  He is stubborn and believes he is the only one that can save the day.  His day has come and gone and hopefully, he will realize this sooner than later. 

Long-term investors should stay the course.

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