TX2
27 Apr 2017
Re: results Part of the cash is now listed as "term deposits" so fall is circa £23 year on year;however it looks as if it will fall a further £10m this half & could well continue.Only Ingenie looks to be a reasonably attractive business from the selling point of view;on the face of it they would be lucky to be able to give away Hubio.So unless WTG can retain the escrow money and other potential claims & investigations come to nothing and can be quickly resolved the shares look very fully valued.
eagle51
27 Apr 2017
results Crikey - all that cash went quickly (£60m reduction YoY).I's nip and tuck now whether there'll be enough to see the directors comfortably maintained until they jump ship. Sorry, let me rephrase that: "............until a smaller Board / central team (is able) to divest of such companies more easily and quickly when the time is right". Don't you just love it?Their work will be done and (according to what's written) the group will be left on a much more stable platform ...........(.........and everyone will live happily ever after - except for shareholders of course, who'll likely be left empty handed except for a few crippled businesses no-one wanted to buy - goes without saying).Estimates of the bonuses to be paid to the departing directors for their herculean efforts, anyone? My guess is whatever's left in cash when they go. Utter disaster as I see things but wdik? Someone might buy Ingenie I suppose - not sure who or for how much though. Ditto PCT Oh dear. There's not much to like. Am I missing something?all imho/dyor
eagle51
30 Mar 2017
Re: Tesco DPA Don't think there's enough in it for the SFO here. They're fresh from trousering £497m from Rolls Royce and over £100m from Tesco so are unlikely to bother about QPP/WTG. Way too small.Besides, with the ongoing cash bleed and the full team of directors removing cash at a rate of knots there would never be enough to satisfy the SFO AND pay shareholders who lost money (because they were daft). Plus there's the little matter of the barrister having reached the conclusion there's merit in the increasingly desperate SGH's (up to) £100m claim against WTG for whatever WTG told shareholders not to worry about.WTG - one for emetic fans only. Who'd want Goldman Sachs, JP Morgan and a US hedge fund as bed-fellows anyway. The directors will do ok whatever.
TX2
29 Mar 2017
Re: Tesco DPA Hopefully not;previous management should face criminal proceedings where felt appropriate by the powers that be.
bskennedy
28 Mar 2017
Tesco DPA Interesting developments with SFO investigation of Tesco's and the fine of a Deferred Prosecution Assessment which includes the compensation to investors. Wondering whether this might be the route the SFO take with WTG.
moonowl
27 Mar 2017
Re: Sunday Times Generally these Class Actions are not started unless the legal firm feels that the costs are worth the probability of success as they are NO WIN NO FEE cases....................................................................................................It's real stretch to see how they could lose this if it proceeds. But it will result in a transfer of value from the current shareholders to the previous shareholders.
Clued-in
24 Mar 2017
Re: Sunday Times Not sure if subscribers here realise that 'Your Legal Friend' is gearing up to start a Class Action against this company for the deemed misappropriate behaviour of various board members of the company when known as the Quindell Group. Generally these Class Actions are not started unless the legal firm feels that the costs are worth the probability of success as they are NO WIN NO FEE cases.
Roger Baron
23 Mar 2017
Re: constant drift down I don't have a problem with directors getting remunerated with options - it does imply that they expect the share price will eventually go up!Schroders increasing shareholding is a positive tick too.
yinvester
22 Mar 2017
Re: constant drift down I agree with you there. Well paid is the problem for delivering nothing for share holders while keeping rewards to themselves, more share options at the lowest possible price for the maximum benefit to themselves. Sure we will soon hear another round of options being awarded to non contributors for running the company down. I wonder if this company has any future...hmmm
eagle51
21 Mar 2017
Re: constant drift down The directors are well paid.........................can't really be sold while the Slater & Gordon debacle is going on. Look again when the cash has nearly run out - action will be suggested.
yinvester
21 Mar 2017
constant drift down judging from the recent constant decline in the SP it seems there is no real support for it any more. The company seems to be in the hands of inept management presiding over constant decline.The only hope for the SP now is the possibility of a takeover bid by another interested party. But even that interest seems to be declining with the management not having the vision or the drive.IMHO
bskennedy
13 Mar 2017
Sunday Times Interesting to see the full page article in the paper yesterday, which was mostly focused on Indro Mukerjee, as opposed to company. Although, it did highlight the journey the company has been on. No great revelations, but Indro was quoted as being focssed on growing the remaining businesses, as opposed to selling them on. Final statement that he is a steady pair of hands to take company forwards is very true and representative of what we have seen over past year. I'm not expecting any surprising numbers in the year end results, but I think we have a good platform to move forwards.
shabby 2 sox
12 Mar 2017
Re: Legal dispute 'Aviva is a much more impressive animal than S&G'That has got to be one of the most obvious investment quote - ever.I have never understood why S&G ever thought it a good idea to buy Quindell's professional services division. There must have been a very high probability that they were buying a bag of nails with red flags all over Quindell at the time. And this after 'extensive due diligence'. Conspiracy theorist territory in my opinion.And why is there a full page article about Quindell in the Sunday Times today? Baffling. The whole Quindell business model was morally repugnant and it was simple greed that got investors in. I invested £1,000 as a punt after Terry was ousted, which is now worth £84, but I am happy to have lost this relatively modest sum to become a better and wiser investor.
ajacko
28 Feb 2017
Quindell drags down Slater and Gordon Well that was the headline in Cityam paper. S&G reported a net loss of £262 million, an improvement by 56% compared to loss of £560 million the previous year. The most recent figures include an £215 million impairment charge linked to purchase of quindell's professional service division in 2015. In the results they noted it's UK division had underperformed thanks to disruption caused by transformation activity, staff turnover and impact on the negative sentiment on the business!Well guess you have got to blame someone and not like someone held a gun to their head to buy the PSD business.
ajacko
22 Feb 2017
Re: Legal dispute It's Aviva Canada, a subsidiary, so they not have the same fire power.
