08.07.2008

Roy Stanley buys in

Roy Stanley chairman of Tanfield parent company of UpRight and Snorkel aerial work platforms has invested almost £500,000 to buy 8,120,000 shares in his company today.

The shares which have been trading at an all time low of between 5p and 7p have been trashed by city analysts following a surprise negative trading statement from the company last Monday.

Many of the shares that Stanley has picked up are likely to have come from Goldman Sachs whish sold over 6.7 million shares today reducing its holding from near 10 percent to 7.8 percent.

Vertikal Comment

It is hard to know what the guys at Tanfield have done to upset the Telegraph newspaper group? Its financial pages have pured out vitriol attacking the group and its senior managers repeatedly, to the point where it is beginning to look personal.

Clearly Stanley’s apparent confidence in the business speaks volumes, and at this price the shares could represent an absolute bargain. We know from numerous messages we have received today that a significant number of people in the industry think the shares are a steal at this price and have ‘taken a punt’ on them

The big question will be who is right – the city analysts or those working in the industry?

Only time will tell.