Meanbugger
31 Jul 2015
Re: STILL AVOID It looks a terrific deal for Westland. They will close the Ellesmere Port factory which seems to have had a disastrous existence. The pension fund will go to the Pension Protection Fund. A very sad end but that is the corporate life cycle. Weak companies die and their remains get eaten by stronger growing companies.
Blanketstacker
31 Jul 2015
Re: STILL AVOID The rumour is correct. All Westland want are the names (Bowers, etc), and the DIY chain contracts. They have a massive peat resource in County Tyrone.
TX2
31 Jul 2015
Re: STILL AVOID I understand the business has been sold in a "pre-pack" administration deal to an Irish company Westland Horticulture;there is unlikely to be sufficent to pay even preferred creditors.Details will be announced in due course I imagine.
Meanbugger
30 Jul 2015
Re: STILL AVOID With the shares being suspended today it looks grim for the shareholders. That pension deficit was a huge obstacle to a rescue deal.
CASTLEFORD TIGER
30 Jun 2015
STILL AVOID Is my advice its worth Nowt!!Tiger
TX2
30 Jun 2015
Re: Why oh why... You can't dig up peat any longer at least in the UK.They have spent all their compensation & more building a "synthetic" peat works at Ellesmere Port;the company has n't had a clue what it is doing,got their costings horribly wrong and to all practical purposes is bust.Not worth putting new money in even if "on paper" the company at operational level could be salvaged;simply because Sinclair has an £18m and growing defined benefit pension deficit on top of its problems with heavy service costs in addition to the shortfall.Better for someone to buy the assets and start again.It has some good brands.Only if someone else puts in the money,sorts out the pension problems,sorts out the production problems would it be worth looking at as an investment.
Misty Creamybib
18 Jun 2015
Why oh why... I had this share on a watchlist since the price was £1.65 - 27 January 2011What I struggle to understand is that at face value this should be straightforward business. Dig up a bit of peat, make some plant food and seed trays and distribute to garden centres.How has it managed to get into so much trouble with products which have stable but seasonal demand. What a rail crash of a share.The price is too low to do a share issue and even if it does opt to do this the underlying problems need to be demonstrated as sorted.Still watching.
CASTLEFORD TIGER
09 Jun 2015
Not long left i have heard the more I hear the more I feel this is doomed.I have no interest here long or short.tiger
chancerbill
26 May 2015
GOING GOING NEARLY GONE LOL LOL.
II Editor
26 May 2015
NEW ARTICLE: William Sinclair out of cash "After launching a "transformation programme" earlier this year, hard-up LSE:SNCL:William Sinclair will run out of cash this summer. Bosses at the struggling compost to plant food and seed trays firm admit they may have to go cap in hand to the ..."[link]
CASTLEFORD TIGER
30 Apr 2015
HOW MANY MORE WARNINGS to get out.......They made a very small profit last year after getting 12 million from the fell deal.Underlying EBITDA was awful.SELL is my advice.Tiger
CASTLEFORD TIGER
05 Mar 2015
Re: more bad news AND MORE! The Group has issued a principal amount of £8.24 million of Convertible Notes. The Convertible Notes have a maturity of 5 years and carry an interest rate of between 8% and 11% per annum, reducing with the principal amount outstanding. Interest may be either settled in cash or added to the principal amount. The interest rate may be varied upwards in the event that spot LIBOR plus 3% exceeds 8% per annum. The Convertible Notes are redeemable by the Group in whole or in part at any time prior to their maturity. Under the terms of the Convertible Notes the Noteholders are entitled to receive 5,665,000 warrants (the "Warrants"
to subscribe for new ordinary shares of 25 pence (the "Shares" in the capital of the Company at a price of 80p per Share. At their maturity the Convertible Notes may, at the option of the Noteholders, be converted into Shares at a price of 159 pence per Share ("Conversion".Issue of the Warrants and Conversion (the "Equity Features" both require the approval of shareholders in a general meeting of the Company. Should the Company fail to approve the Equity Features the interest rate payable on the Convertible Notes would increase to between 25% and 28% per annum, their maturity would reduce to 3 years and the Group would not be able to redeem them prior to maturity.The Noteholders are also entitled to appoint a non-executive director to the board of the Company. The Company expects to work closely with the Noteholders to identify a suitable individual.That was raised at a cost of 1 million to the company. look at the rates we are paying, plus warrants.the loss last year was about 5/6 million but after the net 9 million we got ( the other 3 disappeared) we showed a small profit.However it was not a trading profit............Now as the season is about to start they warn again. Goodness the season starts at Easter!!Just very worried that this is all out of control and they have lost market share.Cash will be an issue here and until that is sorted I think its a massive AVOID.I hold no position in the company long or short.Tiger
scutterbob
05 Mar 2015
Re: more bad news AND MORE! Hi Tiger,Very worrying that at the beginning of the growing season, when everyone is ordering their compost, its not from Sinclair. Presumably their marketing/pricing strategy is wrong. Do you have any feel for how likely the prepack is ?, I thought they received substantial funds from the compensation agreement for peat bog they relinquished, has these all gone ?Bob
CASTLEFORD TIGER
05 Mar 2015
Re: more bad news AND MORE! Finally changes at the top.This could go into a pre pack.SITUATION NOW CRITICAL.Tiger
