Addworth Share Discussion Threads

[targatarga] 25/9/2009 08:27

ARGY2 - no doubt, he probably had a holding in leg. Just read yesterdays announcement.

[argy2] 25/9/2009 08:25

No doubt took a nice salary for himself and family along the way.

[targatarga] 24/9/2009 22:56

Dr Death cast his evil spell on his own business. What a surprise!

[argy2] 24/9/2009 22:18

They say "crooks never prosper"...we shall see.

[topvest] 24/9/2009 20:39

Well things have gone very quiet...no accounts...no PLUS listing...no news whatsoever!

MWM needs to let everyone know what's going on, or indeed whether anything is left.

All got a rather nasty smell!

[topvest] 01/11/2008 09:48

I think that's a bit harsh. Clearly their early stage investment model has floundered in recent months. Addworth have done a lot to try and create new companies to PLUS. The one major issue is that the directors got paid too much, not just in Addworth but in the investee companies. Also, some of the floats were way too highly priced. Be interesting to see how this comes back though.

Three's A Crowd was a good example. The number of directors at the trough and the outrageous salaries for this start up meant that it was doomed to failure, even at the time of floating. It's results this week demonstrate that it wasn't viable. All of this will have to change.

Addworth sound like they may go down the service model - i.e. providing offices and facilities to start-up's in return for equity and fees. Maybe this would cover their cash costs better with a more sensible overhead structure.

You shouldn't invest in PLUS companies, unless you want to be at the sharp end of entrepeneurial company development. This ultimately means big profits / losses, lately..losses.

[andy] 01/11/2008 08:53

topvest,

It is probably better if it doesn't, otherwise a new set of mugs may be tempted to invest in this, particularly if they utilise the old trick of changing the company name!

I've noticed it's mainly poor performers that do that, rarely sucessful companies.

IMO the FSA needs to become involved with these "tipsters", the lack of regulation in this area is truly astounding.

[topvest] 01/11/2008 08:14

Well the move to PLUS is sensible in my opinion, particularly given that most of the former ADDWORTH floats have been on PLUS. Hopefully, this will come back early next year.

[little beaker] 01/10/2008 07:01

harharharharhar

[topvest] 30/9/2008 21:45

Obviously very disappointing today, but will save money. Hopefully they can salvage some value and come back to PLUS next year on a lower cost base and with a new strategy. That's the optimistic view!
Overall, their business model was only catering for a "bull market". Conditions are arguably the worst they have been for the last 10-15 years for small caps. They have been caught with their pants down!

[argy2] 30/9/2008 18:08

Another good investment by Nigel Wray Britain's Buffet or was that Muppet?

[targatarga] 22/9/2008 10:31

delist must be imminent now.....

[bluenose851] 18/9/2008 20:59

he has a bad history old watson mitchel......doesnt seem to improve

[topvest] 18/9/2008 20:56

All looking very grim here now. I'd be surprised if they actually run out of cash, but who knows in this market.

[nick faldo] 18/9/2008 14:15

What a shower.

[targatarga] 18/9/2008 14:14

down through the plug hole now! will these also go round the u bend and down the drain in one foul swoop?

[argy2] 05/9/2008 14:54

On t1ps various sites they still appear to albeit in fast declining numbers.

[nick faldo] 05/9/2008 13:28

Its well worth dragging out of the old closet imo, TOB.

[argy2] 05/9/2008 13:27

TOB

Suspect you won't get another I'm afraid.

[tiredoldbroker] 05/9/2008 13:24

I seem to remember that I got sent a bottle of Champagne for that post (by advfn, not MWM, lol), strange to see it pop up again after so long.

[argy2] 05/9/2008 13:15

Still at least he still draws a nice salary here and in other company's that ADW invest in so he won't go short ( or shorter in his case).

[d6529] 05/9/2008 12:19

MWM strikes again!