Progility Share Discussion Threads

[deanroberthunt] 18/1/2016 16:09

you here or you hear

[belogoh] 23/12/2015 11:00

yes , i am too

[belogoh] 23/12/2015 11:00

apparently good news is on the horizon

[belogoh] 23/12/2015 10:57

I here there is good news coming , and a potential global buyer

[henrygeorge83] 22/12/2015 12:50

the word is that there is a Global buyer interested in the business excluding the training ?

[henrygeorge83] 22/12/2015 12:47

I hearing that some good news is to come out of Progility shortly

[henrygeorge83] 22/12/2015 12:40

I am hearing some good news to come out of Progility soon , is anyone hearing the same

[rarther] 04/12/2015 08:59

hint...NO ONE!!!!!!!!!!!!

[rarther] 04/12/2015 08:57

Can anyone believe one Mr. Donald Stewart has joined Fitbug PLC and claimed to have successfully increased the sales and headcount at Progility? Apparently he "was involved in the implementation of its growth strategy, taking it from a GBP17m turnover business with around 80 employees to a GBP60m turnover business with nearly 700 employees in the UK, Middle East, India and Australia by 2015".

So which Progility investors will also be backing fitbug under the command of Mr Stewart?

Sign below...

[rarther] 17/11/2015 18:00

ouch... on a spread of 2.00-2.25 desperate sellers taking 1.25p for 1.8million shares. this must be the final miserable chapter for shareholders now before the MBO and big success story for management.

[graham1ty] 17/8/2015 13:58

And Growth Company Investor tipped PGY at 7.87p in January 2015. How come they are 2.75p now Wayne and everyone has lost 65% of their money Wayne

[graham1ty] 17/8/2015 13:54

Now capitalised at £5m. But Wayne that cannot be right. You reversed yr Australian interests into ILX for a consideration of £15.97m; then bought Starkstrom for £9.68m; you also bought Obrar for £1m; Unify for €1m; and Woodspeen; and TFPL for £0.6m. That is about £28m you have spent. How come it is only worth £5m now Wayne ?

[smithie6] 29/6/2015 10:09

So pgy shares take a pasting !

Some of us very happy too see Wayne lose money today !

How the price held up for so long..beats me...


Added to prev. incompetent muppets...who got rich while co. went down the drain...

Been one disaster after another !

[graham1ty] 31/3/2015 13:09

Alxander. Not sure how long you have been a holder. The original deal was a disgrace and massively dilutive to ILX holders. Every bit of Wayne's injected business looks rubbish and one of my posts a while ago analysed how much this had been worth, added on the monies raised, and got to a figure two or three times higher than the current price. Unlike 2+2=5 Terry, he seems to be 2+2=2 Wayne

Good Luck. I am not sure minority shareholders are at the front of his mind.....

[4lexandertg] 31/3/2015 12:59

I guess it is fairly safe to assume that the business was not generating €1m profit on an ongoing basis. Perhaps the division ran into difficulty. Progility have already said that they are restructuring and re-positioning the business and that it will be disruptive in the short term.

Unify (Global) are clearly not mugs so I guess the 2 other possibilities are either that the transaction was fair value or else the division hit a massive iceberg and Wayne has been sold a pup. As a holder I'm hoping not the latter.

Of course we are all looking forward to the day when the business stops repositioning and refocusing and starts to generate cash. There comes a point when this sort of language is simply a cover up for poor performance. I expect we're close to that point.

[graham1ty] 31/3/2015 08:09

Alexander, that may be the right accounting method, but still begsbthe question why someone would sella business making €1m profit for £1m total consideration and £3m less than asset value. Either our Wayne is a brilliant deal doer and the Vendors were mugs........or there is something very fishy

[4lexandertg] 28/3/2015 21:09

Smithie6 / Graham1TY

The accounting treatment around the Indian acquisition is required by IFRS3. Negative goodwill must be written back to the P&L; restructuring costs expected then need to be expensed as incurred.

It's not a question of is it allowed - it is required. If you don't like the policy, blame the standard setters...

[graham1ty] 27/3/2015 10:22

Smithie there was a breed of Aus entrepreneur who were bought up with Allan Bond, Kerry Pscker and Holmes a Court as heroes. Thought could throw tgether a mish mash of worldwide assets and make a fortune. Then the bubble burst. A few remain........WB

[smithie6] 27/3/2015 10:07

Glad i got out higher up.....
...shame ...ilx was a cash generating business ...1M/year...and just needed control of costs imo....incompetent self enriching dirs. screwed that up !

Zzzzzzzzzzzzzzzzz

The types of different businesses seems insane.......from selling walkie talkies to auz mining companies to medical equipt. structure maker/installer !

Zzzzzzzzzzzzz

Halved the share price since first buying his own auz cos. so mkt is not impressed...rightly so imho

And around 25% of share price when ilx was operating ok on its own....with on line sales growing well

[smithie6] 27/3/2015 09:54

Graham/David.
...yep !!

the three million thing is nuts as you say...
crazy world if that is allowed

..(...other cos do a similar trick....reduce a deferred payment cause an acquisition hasnt hit the perf targets ....and that also seems to go straight into profit calc as profit !!!)

Looks like around ten million negative tang. assets so does look like house of cards now as david says....if cant start producing cash it wont last forever....

What is waynes angle though ?

....sure he gets to own it all if falls over but then surely wont be worth owning

Unless gets cash from third parties into the business via bank loans or issuing new shares to public and then gets his hands on that cash


perhaps
....he can call in the loans....cant pay so becomes 100% owner and delist at same time

Then wind up the bad subsidiaries and wipe off those debts to third parties and keep hold of the profitable subsidiaries....and then maybe refloat in Auz !



Anyone owning shares in this is nuts imo ....based on current info....but then there are many terrible listed shares not just this one

A chance he turns it into something good but seems very small odds imho.
maybe he made millions in past business and wanted a project....and reckons he has the golden touch since went well in past business efforts

[davidlloyd] 27/3/2015 08:16

At some point a house of cards falls down :-/
DL