Watchstone Share Discussion Threads

[makinbuks] 28/3/2024 11:42

Well three months ago they were sitting on 15p per share of cash. This hearing had already taken place and the result was awaited so hopefully they haven't spent much in the interim. Now they can either wind up and distribute or decide to go to the Court of Appeal. I don't know in pence per share what its worth if we were to win so hard to judge. Based on Aviva Canada and PWC recent events they seem to have been flying kites but I don't know the facts

[gurjit] 28/3/2024 00:25

Any thought on this latest announcement? I presume a dead dog now?

[jtourer] 12/12/2023 21:44

Looks to me like this will be wound up at 15p -share now it seems ??

[beckers2008] 17/5/2023 01:37

I'm here!

t1234,

How are you misinformed? Lol?

I advised my followers what to do, as of 14th November 2022, look and learn, lol!

If you want to make money, look at my mid-term profile, I'm never wrong. Lol, just lol!

[trevor1234] 16/5/2023 18:58

Is there anyone there?
Last weeks news not of any interest to us misinformed shareholders
what are the chances of an appeal?
I would think very low

[hindsight] 14/4/2023 18:01

Guess soon have an idea

Our claim against PwC was heard in the High Court in January and February 2023 with the judgement being awaited.

[alan00] 31/1/2023 11:55

hxxps://www.upsidedownsidecapital.com/p/the-63m-question-at-watchstone-group

[beckers2008] 14/11/2022 23:18

That's disappointing. £5m.
Aviva Canada taking forever and a day! Maybe 2024!
Short?

[haroldthegreat] 14/11/2022 21:10

how much of that goes on lawyers fees ???? will there be enough to finance the other case

[haroldthegreat] 14/11/2022 21:09

that's only 10p a share ! Simon thought

Over at Watchstone (WTG), they are chewing through cash largely because of lawyers. Let’s hope that there is still enough in the kitty before WTG pulls off the coup of a lifetime and zonks PwC for several hundred million pounds by way of damages.

[gurjit] 14/11/2022 15:14

KPMG claim was for £13M plus interest but they have settled out of court for £5M.Not sure how much of this was already accounted for in the quoted price. ?????

[konradpuss] 24/8/2022 08:45

Plenty left to run two cases to the Supreme Court in my humble.

Good old Simon. He one audited a company for me!

[makinbuks] 24/8/2022 08:30

Quote from Simon Cawkwell:

"Over at Watchstone (WTG), they are chewing through cash largely because of lawyers. Let’s hope that there is still enough in the kitty before WTG pulls off the coup of a lifetime and zonks PwC for several hundred million pounds by way of damages. And then there are the good folk at KPMG whose work some nine years ago falls to be challenged.

Being an audit partner used to be good fun with terrific lunches. No longer. Nowadays an audit partner keeps slim by scurrying to his bank trusting that the pot stays ahead of the fines, legal fees and compensation payments. It usually does."

[konradpuss] 24/8/2022 07:23

Gurjit, I think it is only the Criminal barristers. I believe this is just civil litigation.

The pot left is big enough to run the cases to the Supreme Court if there is a point of law or something in the public interest to be heard.

[gurjit] 24/8/2022 07:09

I guess this is a punt on success in the courts prior to their cash pile slowly depleting. Not helped by a barristers strike!

[makinbuks] 23/8/2022 08:19

Anyone got any insight into the directors plans here? Another £2m loss announced, cash pile depleting rapidly

[trevor12345] 30/11/2021 17:43

I Take it that this claim against KPMG is on top of all other litigation that is in progress

[konradpuss] 15/9/2021 20:17

Oh! what a shame Polygon have gone!

Their offer lapsed today.

A quiet friendly word to their management - stop wasting your time and money or offer 'proper money'.

[hindsight] 02/9/2021 11:26

They are just wasting everybodys time, bar it clearly tells us holders we are holding a good long at 38p

[makinbuks] 02/9/2021 10:41

They're an event driven hedge fund, they are never going to do that. I really don't know why they bothered increasing their offer by such a paltry amount it has no chance of success

[konradpuss] 01/9/2021 18:58

I'm with trevor1234. 80p to £1.00.

I wish they would make a sensible offer or leave the existing management to just run the litigation to its conclusion.

[leadersoffice] 31/8/2021 18:56

There playing on shareholders fears about being locked in. Let's see what the board have to say.

[trevor1234] 31/8/2021 18:36

Make it 80 to 100p and I would think about it

[leadersoffice] 31/8/2021 17:13

Increased offer to 38p per share. It's still a lie ball offer. What's peoples thoughts ?