ajacko
20 Sep 2017
RNS- six month results Results out show net assists at £66.5 million, cash at £65.8 million and £50 million in escrow account giving a net value per share of £3.96. Even with the loss of the escrow money it still has a value of £2.87 per share. Just need to resolve all, the legal issues!
weblogic
03 Sep 2017
Re: Two `sneaky` late trades.. yet more? I`m not keen on these sneeky operators who deal in the shadows.hiding these trades they can slowly bleed small investors out of there holdings.. or otherwise trick investors.
Topalov
01 Sep 2017
Re: Two `sneaky` late trades.. yet more? Hi Weblogic,I am curious - if these trades had gone through during the day would it have made a difference to your own buying and selling of WTG?
weblogic
30 Aug 2017
Re: Two `sneaky` late trades.. yet more? Again almost a third of the days shares were pushed through `on the quiet` in `late trades`. Out of sight = out of mind... ?? time these jokers were stopped from these practices...
Topalov
30 Aug 2017
Re: Two `sneaky` late trades.. All the fault of the spivs in the city, weblogic. If it wasn't for them WTG would be worth £5bn by now.
weblogic
29 Aug 2017
Re: Two `sneaky` late trades.. Again, 20% of the days trade happened `after hours` with a late listed `buy`...Picking off the `cheap sellers` ..
weblogic
26 Aug 2017
Two `sneaky` late trades.. I see someone pushed through a couple of late trades last night after hours..Only small volume, but accounted for half the days trading..Probably slowly mopping up the small sellers at these levels......Otherwise nothing exciting to report....
weblogic
24 Aug 2017
Tip top.. HUNT Well, Peel HUNT gave them a hold rating on 178ish recently..Eagle sayssell and they are being stalked by Dueche Bank.... never a good sign.But can they really be dead dogs over these various legal claims.?Don't forget that S&G have had time to check out the numbers before they dipped into their pockets.don't forget that the experts have poured over the numbers from QPP for ages.. including PWC, was it... and got through with qualified comment.So are S&G just unlucky with their timing and market positioning..?Or, has the current business environment caught them out...with current rulesw set to catch lots of false claims .. so, suddenly the market has dipped..? Or is it that WTG is dumbed to hit the buffers, despite the best efforts of a new management team, with shining white reputations.With a blackened name that no amount of polish can shine..?Or can WTG find new markets and diversify.. very little has been said about that..Assuming they can come through the legal maze without too much damage, can they rebuild and reinvest.New opportunities must be begging, and maybe the new `electric car market` will provide opportunities.
coldascheese
27 Jul 2017
richard griffiths 15% stake Lse todayRichard Griffiths has 15% stake!Today 13:35RNS today-Richard Griffiths a very astute investor who lives in Monaco has upped his stake in Watchstone through his company Polygon Global Partners LLP company, he has made a lot of money on the stakes he buys-so could well be worth following him in. Market value of company is £46 million.With cash of about £80 million plus escrow of £50 million and the businesses worth maybe £20 million thats £150 millionwhich is 3 times the share price,plus huge tax losses.So its now a gamble on the results of the claim against the company. If its defeated there will be a massive share price increase.Well they have two QC's on the board so there is at least a 50/50 chance of that.
fishoutof
20 Jul 2017
Re: shares Eagle Eagle ... lovely to hear from you too. I was worried you'd disappeared. As always, take care.Yours humblyFishoutof
moonowl
13 Jul 2017
Re: shares "Call it what you will but something isn't right with what is going on - that much I know"Some people have been saying that for years on here. Years. Glad it's finally sunk in Eddie.
eagle51
13 Jul 2017
Re: shares Roger - I didn't intend to write off the company itself, where nothing much has changed - it's been a slow process turning cash around but things generally seem to be on target. My comments about directors' take apply across the board - they all have snouts in company troughs and make a stack however they perform. Mukerjee taking out what he has is imo a disgrace as his job is far from finished.What made me sell (I continue to regard WTG as a sell at almost any price) was the disappearance of the prospect of a dividend/capital return when SGH's claims landed. It was going to be a mess from then on. The subsequent arrival on the scene of a bunch of vultures (Goldman Sachs et al) who in combined form could control events if they so desired, would fill me with dread. We saw what happened with BLVN and Crown Ocean Capital and how a significant minority can achieve whatever they want. Here, I'm suspicious about the involvement of so many investment banks/hedge funds in a company with a market cap of about £55m. Anchorage Capital (a big US hedge fund) now owns 96% of SGH and my worry would be that the parties investing in WTG might be intent on gaining control and agreeing to roll WTG into SGH as settlement for the claims SGH has made (for more than £600m) leaving shareholders high and dry.Conspiracy theory? Call it what you will but something isn't right with what is going on - that much I knowDYOR
Roger Baron
12 Jul 2017
Re: shares Oops! I meant "far too cheap".
Roger Baron
12 Jul 2017
Re: shares "WTG is about as big a 'sell' as they come."But today's announcement shows that someone thinks they are far to cheap!
eagle51
11 Jul 2017
Re: shares As I see you Norman and the fish are talking about me I have decided to make a special post to warn others that whenever these two turn up, you can be sure you're going to learn something that's of absolutely no use to you. Norman is mainly trying to save Africa but is having difficulty because he isn't very bright. He hates me because I've caught him lying (about PVR and a few other things) and I made it public. It would be unfair to cretinism to describe him as one. Make up your own minds about the other recent entrant (the piscatorial one) - I don't really care.Norman tells lies. I have never at any time in my life presented Terry in a positive light because I have been aware for years of how he operates. I bought QPP shares after Terry had left (I don't actually think he was selling QPP shares when it was announced he was buying - the same arrangements with the same lender were entered into by Nelson at IQE and by directors of iGas but no foul was called - the lender wanted the security of the shares in a form that differed from the norm but was no different in intent. The media jumped on it and the rest is history; I am not saying RT was not crooked in many other respects, nor do I offer an opinion. I just wouldn't ever invest in anything he was presently connected with. I thought they were oversold, which they were and I made some money. There is no particular reason to think there was dishonesty involved in the sale of the PSD to SGH. There was plenty of due diligence work by SGH - 70 SGH lawyers crawled all over 6,000 case files (it was said to have been over 8k files) SGH chose from across the spectrum and took over legal ownership of on payment of an exclusivity fee of about £12m (from memory). E&Y led the financial due diligence and Andrew Grech (SGH's CEO) publicly said he didn't care what QPP's accounts said because he was satisfied SGH was paying 7.1 times earnings for PSD.Now (2 years after the event, he's saying: "No-one told me" or , more accurately: "Fielding deliberately lied to me about the dilution rates and if I'd known they were worse than I thought they were, I'd never have gone ahead".From the date of acquisition the PSD was mismanaged - well-known brand names were changed, staff exited all over the place, NIHL claims weren't progressed, yet apparently AG knew nothing of all this and reported earnings in line (twice) some 7 months later when the world and his cousin knew the substance was all over the fan. Fact of the matter as I read it is that AG was another Terry - SGH's rapid growth was almost a mirror of QPP's except that all its acquisitions were of law firms. The illusion of rapidly growing profits was fuelled by continuous acquisitions, where WIP was always acquired at conservative values. This was immediately written up to fair value or quickly billed to plant profits on the face of the P&L so that the spectacular success story could continue. The giveaway was cash - SGH didn't have any; it only had debt - and a lot of it too. QPP's PSD was going to be the one that allowed AG and his cronies to bury the sins of the past within.Institutions jumped at the opportunity to put up the finds via newly issued shares, alongside NBA and Westpac as willing providers of bank finance.No point in carrying on - you know (or should know) the rest. Regardless of the rights or wrongs, such a big claim landing on WTG's table can't do it any good and the prospect of any form of cash payout immediately went out of the window. I sold out at about 185p.I don't know if you noticed but Mukerjee took well over £1m last year, inc a bonus of £600k. What for? Now he's off having apparently competed his work successfully. Cash is still bleeding, no profits are being made and there's a £650m claim hanging over the company.No doubt he'll trouser another big bonus when he goes, as will the other departing directors and the rest will be shared between those remaining.WTG is about as big a
