FishWorks Share Discussion Threads

[tom.muir] 16/2/2007 14:13

No - just a chip on the shoulder.

[verulamium] 16/2/2007 11:41

You've haddock nough of it?

[wiganer] 16/2/2007 11:18

I don't mean to carp, but I think some folk are starting to flounder in their quest for new fish puns.

[orange1] 16/2/2007 11:05

Unless they believe with their heart and sole that the shares have potential to climb even higher in which case they would be left high and dry if they sold out now.

[verulamium] 16/2/2007 10:40

LOL. More buys coming in at 19p, whilst a placing's going through at 6p. Anyone in on the placing can short now at 16p for a risk-free 166% return. Nice, eh?

[verulamium] 16/2/2007 09:34

You have to wonder if the person buying at 19p this morning has even read the 9th Feb RNS...they certainly haven't understood it.

Some people need to wipe the scales from their eyes. They'll be gutted in a few months time.

[barn owl] 15/2/2007 16:23

Talk about fly fishing these are jumping like wild salmon!

[volsung] 15/2/2007 13:23

Looks like them fish is jumpin'
Hake to say this but there has been a lot of carping about this share recently. Its certainly turbot charged now!

[wiganer] 15/2/2007 13:04

Looks like I missed the bounce. Forgot to put my skates on.

[verulamium] 15/2/2007 13:02

Anyone buying at these prices is going to get fried. They'll be steaming.

[tonyx] 15/2/2007 12:57

Is it a dead catfish bounce?

[barn owl] 15/2/2007 12:56

Who said, Fish can't fly!?

[wiganer] 13/2/2007 10:55

It's unrealistic in circumstances like this to expect someone risking a big punt on a placing to do so on "retail terms".

[longshanks] 13/2/2007 10:51

Presumably the banks all said "No" so the new investors are taking on some risk as well...

However I think the company should be making the same offer to existing shareholders as well - this dilution seems rather at our expense rather than a value adding exercise.

But desperate times etc etc. It seems that there was only one exit available for Mr Tonks.

[wiganer] 13/2/2007 09:49

Probably a bit of both.

[gelp] 12/2/2007 23:29

plaiceing at 6p & still trading at 13p - either someone has a bargain in the placing or the shares are over valued - which is it?

[atomic dog] 12/2/2007 19:16

tiredoldbroker - I think it originally floated on Ofex at 50p. I have still got the original prospectus from that time. But I didn't subscribe as it looked way overpriced and what's more they were only floating around 15% of the equity which I thought was really pushing their luck.

I am sure Mitchell Tonks is a very good cook and is surely a fish fanatic. But does he know how to run a business? Fishworks is typical of companies which have a good idea but then expand far too quickly without sufficient cash to pay the bills. Its the classic way to go bust.

If they can start making a profit so they don't have to raise any more cash they could survive. But I doubt it personally. A takeover at a low price looks their main hope to me.

[tiredoldbroker] 12/2/2007 09:13

Frankly I'm surprised they even managed 6p as the placing price. What they've said today about trading is "Group's results for financial year ending 31st July 2007 will, on a continuing basis, be not less than breakeven" and I'd point out that the use of the word "continuing" suggests that breakeven is before deducting a raft of one-off exceptional items. So they are more than doubling the number of shares in issue, from 32.6m shares "before" to 74.3m "after" at 6p, and Mitchell Tonks ends the announcement by saying "I would like to take this opportunity to thank our shareholders for their
ongoing commitment and support in the FishWorks opportunity". The company floated 18 montyhs ago at 33p; some opportunity.

[atomic dog] 10/2/2007 19:56

Placing at only 6p? Shareholders have been slapped on the face with a wet fish. But I may buy a few when the price drifts down to around that level. Looks like a hakeover is on the cards eventually.

[petermoran] 09/2/2007 20:36

Think it needs a new sKIPPER to ROE the boat ashore!!!!

[tonyx] 09/2/2007 20:28

tonyx - 30 Jan'07 - 11:59 - 2 of 57 edit


News out about the need for refinancing.

Looks like a heavily discounted plaicing on the cards (geddit?!)

[jonathanlabrey] 09/2/2007 18:42

Shows complete lack of confidence to place the shares at just 6 pence against a market price more than double that.

[jonc] 09/2/2007 18:09

Well the company has been FLOUNDERing..

[wiganer] 09/2/2007 18:06

Placing at 6p a share. or should that be Plaiceing?

[orange1] 04/2/2007 09:18

Luke Johnson trying to mussel in on Fishworks then.