KarlMar5
13 Nov 2017
Spread Why such a large spread on this stock. Is it to put people off buying or selling??Regards KM
coldascheese
31 Oct 2017
Re: Defense of claim filed Made a nice 20% so far on my 50-50% bet in October,I think investors also haven't factored into the value is that WTG have massive tax losses that could be used,probably in the £100 of millionswhich,if they win the court case,would make the company very attractive with possibly £100 million cash,3 businesses plus tax losses. In all this could be anything over £3.00 a share.Bring on the court case.
shovelier
17 Oct 2017
Re: Defense of claim filed UBS seems to agree as well.
KarlMar5
17 Oct 2017
Re: Defense of claim filed After yesterdays rise it would appear that the market likes what Watchstone has filed in it's defence.
ajacko
16 Oct 2017
Re: Defense of claim filed I noticed that from the defence document the very last bit said that as part of the agreement between S&G and Watchstone, any claim was limited to £100 million so why did S&G claim £637 million, can't read or just try to cover up their mistake?
phil and leggett
13 Oct 2017
Re: Defense of claim filed Looks like S/G checked checked & checked again for their due diligence, with a very large team of proffessionals, it seems we promised very little...11th hr discount being applied for me thinks...Phil...
coldascheese
12 Oct 2017
Defense of claim filed I'm buying first thing tomorrow, got to be a 50%-50% bet with a possible 300%
ajacko
27 Sep 2017
Re: RNS- six month results The government capped whiplash injury payments reducing payments from average of £1850 to £425 as well as banning settlement without medical evidence
oggs
26 Sep 2017
Re: RNS- six month results The changes to the Ogden tables shoud lhave helped them as awards became bigger and therefore more to target.Fair to say I think that S&G and Quindell/Watchstone deserved each other
ajacko
22 Sep 2017
Re: RNS- six month results Alternatively, Slater and Gordon are a desperate band of ambulance chasers that got it wrong. They bough before government made changes to how personal injuries were calculated, not because they bought a bad business. Some you win some you lose. Now they are trying to cover up their bad timing with their claim, good luck!
David Global
21 Sep 2017
Re: RNS- six month results their nett assets will be wiped out with the queue of people suing them, I feel sorry for the BoD having to carry trhe can for Mr Terry;s misdemeanours The Company will cease to exist by the end of next year IMO
Topalov
21 Sep 2017
Re: RNS- six month results I certainly wouldn't include the intangibles in the distributable value to shareholders.This leaves a net asset position of £37m or 80p per share.Off course this ignores the disposal value of any of the business which are net loss making.There is a possibility that some or all of the escrow monies will be ruled as being due to WTG and there is a chance that the legal settlements go against WTG, despite the advice that management have been given.I can see an argument for investing in WTG at this price, though it could well be a long time before the disputes are resolved. I'd rather invest my money elsewhere.
ajacko
21 Sep 2017
Re: RNS- six month results Thanks for the correction TX2, so that makes the net value of the share with escrow at £2-53 and without it at £1-44As far as Escrow Money:The money is not included in accounts as has already been written down, but still up to dispute.'In November 2016, a claim for fraudulent misrepresentation was dismissed by the independent barrister in respect of the warranty escrow process relating to the sale of the PSD. This opinion, which was formed on the basis of evidence provided by both S&G and Watchstone, stated that a misrepresentation claim was not a bona fide claim with a better than 50 per cent prospect of success.'As far as Slater Gordon claims: 'On 14 June 2017, the Group was served with High Court proceedings issued by S&G for breach of warranty and/or fraudulent misrepresentation for a total amount of up to £637,000,000 plus interest in damages in respect of the disposal of the PSD in 2015, further details of which are provided in note 2. Having taken external advice, no liability has been recognised at the balance sheet date as, in management's opinion, it is more likely than not that the Group will successfully defend these claims.''Having taken legal advice on this claim, the Directors consider that the risk of this matter giving rise to a level of liability which would impact the ability of the company to remain a going concern is remote.' As far as SFO investigation: 'On 5 August 2015, the SFO informed the Group that it had opened an investigation, which relates to past business and accounting practices at the Group. The Group is co-operating fully with the SFO investigation, at this stage, the timing of completion of the SFO investigation and its conclusions cannot be anticipated. Therefore, having taken external advice, no liability has been recognised at the balance sheet date as it is not possible to reliably estimate a provision (if any) in respect of this matter.'As far as Class action by Shareholders: 'On 14 December 2015, the Company received a letter of claim from a law firm ("Claimant Firm"
acting for 342 claimants commencing an action against the Company under the Financial Services and Markets Act 2000 ("Letter of Claim". Despite the Company's endeavours in correspondence with the Claimant Firm, the Company is yet not in a position to verify the assertions in the Letter of Claim which, inter alia, details the expected value of the potential claims against the Company to be approximately £9.4 million. No proceedings have been commenced to date in respect of this matter. However, having taken external advice, no liability has been recognised at the balance sheet date as it is not possible to reliably estimate a provision (if any) in respect of this matter.'As you say, its all in the accounts!
TX2
20 Sep 2017
Re: RNS- six month results Rubbish!Try reading the actual accounts.Net assets at time of balance sheet attributable to shareholders of £66.5m INCLUDE the then £67m cash;as there are £47m of liabilities indicated on the balance sheet that need to be deducted from gross assets.Whether the valuation of £28m given mainly to intangibles and included within assets is realistic is also open to question. The ownership of the escrow money not included above is the matter of dispute;plus another £600m or so claim.......Plus any SFO costs,& any claims from previous shareholders,further losses, legal costs,on going overheads etc.
arborman
20 Sep 2017
Re: RNS- six month results Loosing less money this year, might even turn a small profit next year, get the legal issue sorted and cash out of escrow, then must get back towards 400p, great entry point or time to average down IMHO
