Widney Share Discussion Threads

[mryesyes] 25/4/2009 14:46

No-one is a holder now, ADVFN should take these off, so should teletext

[callumross] 13/2/2009 10:49

no longer a holder but very sad - basically a good well run company that has been the victim of circumstances. Did me very well a few years ago.

[cyberpost] 13/2/2009 09:05

Trading update and suspension of trading (Widney)

TIDMWDNY

RNS Number : 2764N
Widney PLC
13 February 2009


Widney plc ("Widney" or the "Company")
Trading update and suspension of trading


Widney announces, that following a review of the Company's trading position, the
Board now believes that it will not be able to proceed with the proposed
fundraising, although as announced on 21 January 2009 the Directors recognise
that the Company must raise additional working capital in the short term to
continue to trade.


Trading in the last few weeks has materially deteriorated. Accordingly, the
Directors have resolved not to proceed with the planned fundraising and have
requested the immediate suspension of trading in its shares on AIM whilst they
consider a number of alternatives with a view to raising the necessary working
capital.

A further announcement will be made in due course.

[cyberpost] 13/2/2009 09:01

Suspension - Widney plc (AIM)

TIDMWDNY TIDMWDNB

RNS Number : 2747N
AIM
13 February 2009


NOTICE

(102)

13/02/2009 9:00am


TEMPORARY SUSPENSION OF TRADING ON AIM


WIDNEY PLC


At the request of the company trading on AIM for the under-mentioned securities
has been temporarily suspended from 13/02/2009 9:00am pending clarification of
the company's financial position.

[callumross] 23/1/2009 13:01

agree with most of what you say, charo - this is one of the few cases where I would say the circumstances are not due to the poor quality of management. The only slight quibble I would have is that the directors have particiapted in the placing so are putting their money where their mouth is in that respect. However, I note most of their money is being put into the secured loan stock so in the event that the company fails, they will presumably get their money back.

[charo] 23/1/2009 11:50

grimmond told shareholders 1st oct that trading was poor and he saw no improvement ,warning that there was no visibility beyond december.he was criticised by some for these comments which now are accepted as accurate, few in any sector are able to forecast even near term with any confidence.with complete candour states in plcing trading is very difficult and cash is needed to enable business to trade.
the board have taken all steps possible ,reduced manning,reduced working hours reduced fees and debt swaps.in total the savings plus cash raising boost cash flow over 12 months by close on a million pounds,will it be enough.
if demand begins to recover by mid year possibly but with demand across their markets down by some 75%,jcb cat volvo jag bentley,even this good little company will fail if recovery comes later.

[arnold7] 22/1/2009 14:36

they are heavily reliant on excavator manufacturers and the banking industry. With 75% downturn at JCB and Volvo they will have lost window and blinds sales. ATM build with NCR has been adversly affected both in market shrinkage and aggressive competition abroad.

Do shareholders want to pay 1.5p for a share that the market is valuing at 1p and falling?

[callumross] 22/1/2009 12:31

genuinely sorry to see Widney in the position of having to issue shares at 1.5p just to stay in business because the bank's won't extend their credit line. At least they seem to have improved cashflow by around £25k per month through buying off the pension fund and landlord with shares. This one did well for me a few years ago and semed to be well run by Mr Grimmond. Just another victime of the credit crunch but I hope they survive anyway. Might pick up couple hundred k shares if they were on offer at 1p and immediately write the money off and see if they are still around and recovering in a couple of years.

[arnold7] 16/12/2008 16:17

No accounts released. Anyone know why they are late?

[loverat] 26/11/2008 07:55

Looks like this thread may come in handy this Christmas.

[loverat] 25/11/2008 20:35

And yet another disaster stock.

[a0148009] 25/11/2008 18:09

The heading of this thread "Widney on the road to recovery" is somewhat out of date!

AO

[charo] 25/11/2008 11:15

been written off by loverat since 2005,still there if only just.but the longer you survive the more chance you have.

[loverat] 19/11/2008 07:44

Terrible state of affairs. Anyone still in this?

[loverat] 14/11/2008 20:41

I remember some people made a big profit in the rise to £1 a few years ago now.
In decline for years now and anyone who thinks this will recover needs their head testing.





Another one heading for 0p I think.

[loverat] 14/11/2008 19:48

Looks screwed.

[omerta] 13/11/2008 15:23

nice Christmas present on the way

[arnold7] 13/11/2008 15:02

Final results due on or around 5th December.

[loverat] 12/11/2008 19:59

Anyone left here?

[loverat] 11/11/2008 13:21

Not long now I think.

[loverat] 20/10/2008 19:39

DOOMED!!!!!!!!!!!

[dumbarton2] 17/10/2008 14:23

They see no visibility beyond end of year so its bleak. Cant see a future here.

[charo] 17/10/2008 11:49

wagon much bigger player suspended.all major customers reducing demand drastically.doubtfull if even this experienced management can pull it round.sadly will take my loss .

[arnold7] 15/10/2008 16:46

there can't be a future if the management aren't picking up shares at these rock bottom prices