Wagon Share Discussion Threads

[coolen] 10/10/2008 19:47

There's no urgency for Mr Ross to deal with the Ords. By waiting, he'll be free under Takeover rules to bid less than 4p for the minorities.

I mentioned the Pref earlier because this is a more pressing matter for Mr Ross. He must decide shortly whether to finance that lumpy dividend or see the non-voting Prefs get enfranchised.

That dividend cheque may prove to be the litmus paper of Wagon's present health and/or Ross's desire to look after shareholders generally.

[napoleon 14th] 10/10/2008 18:51

I believe a bidder has to pay at least as much as he has over the last six months.
That means Ross would have to pay 4p/share until the rights were over six months ago.
Will the company go under? I very much doubt it, as Ross will need to put up very little cash to de-list & integrate it into his holding company. Why would he have spent all that money if he then lets it go bust? He's not a chump, even if not infallable.

As for us PIs, I fear the worst...

[hybrid07] 09/10/2008 17:23

Coolen, are you suggesting that the preference shares would be permanently converted into ordinary?

Just punted another 200K into this co in the last couple of day, hopefully not into the long grass :)

Don't know of anything definitely wrong with this company, which I believe is making a profit - right?

I'm assuming the W Ross will not be allowed to shaft shareholders twice. I think there was an enquiry at the RI

Of course we have to worry about a down-turn in car sales due to recession

[exile] 09/10/2008 13:04

At this price I think it is definately worth a punt..I have punted it! albeit at higher than present share price but well below the RI price..fingers crossed.

[theuniversal] 08/10/2008 23:41

are we seeing a marconi here? is this falling sword finally fallen? and what is the implication of it being on the aim? is it worth a punt at 1p...im very tempted...almost drueling actually rsrs

coolen can you alaborate on your last post?

[coolen] 08/10/2008 21:37

Has anyone noticed that whilst the Ordinary shares have moved down to AIM, Wagon's Preference shares have remained with a Full Listing ?

The Pref price of 35p signals a 20% yield and, thus, implies that Wagon will defer the December half-year dividend.

If there's no divi, Pref holders get a full vote. This would take Wagon back to Square One with a Fully Listed class of capital with Full voting rights.

What have I missed, please ?

[deanroberthunt] 08/10/2008 11:32

exile...don't look at the share price, look at the fully diluted MCAP...£16.5m

[deanroberthunt] 08/10/2008 11:04

1.2p on the offer

all those who took the rights at 4p are royally ^&&U"&((

would need nay on 300% rise just to b/e

[exile] 08/10/2008 10:59

Looks cheap now!

[hybrid07] 06/10/2008 08:25

Newkid, if it goes private, you're talking about a bid, right? At what price? Surely above the RI price.

Maybe Ross and co won't have the courage for that until they see the market (for cars as well as stocks) improving

[hybrid07] 03/10/2008 19:55

Doubt it will go bust. However, could be another round of financing where PIs lose out again

[newkid] 03/10/2008 17:00

I think you will find that the RI was more or less taken up by 2 investors and not peep's. This could now go private.

Regards NewKid

[jda] 03/10/2008 16:36

but how many wheels are left?

[run rabbit] 03/10/2008 13:44

Well at least buyers are coming in at the 50% discount level and honestly cannot blame them as WAGN does have good finances now.

[deanroberthunt] 03/10/2008 10:57

peeps must be chuffed to bits taking up the rights at 4p....as you can now buy them for half the price and as many as you like....within reason.

[clippyclive] 02/10/2008 08:24

Is it worth a punt, or is this company going to the wall.

[run rabbit] 01/10/2008 23:42

Blimey ! An all time low now.

[run rabbit] 26/9/2008 13:18

Well our Director views it as a bargain today

RNS Number : 4327E
Wagon PLC
26 September 2008

Wagon plc

PDMR Shareholding


Wagon has been notified on 26 September 2008 by the following Director that he has
purchased the following Ordinary Shares of 1 pence
each on the London Stock Exchange:-

PDMR Date of Purchase Number of Shares Price paid per share

Howard Evans 26 September 2008 150,000 £0.0346p


Mr. Evans previously held no shares in Wagon plc.

[trygve] 22/9/2008 23:30

Still waiting but with the markets the way they are it will take time. Spread now is far better and am tempted to add soon.

[hybrid07] 19/9/2008 18:43

Anyone out there? Anyone got an idea of what's going on?

[bench2] 18/9/2008 22:16

Poor news from Federal Mogul in USA , a Carl Icahn auto parts co. Re Wagon , sorry to see the FD quit , rats and sinking ships seem to come to mind.

[hybrid07] 16/9/2008 23:22

Napoleon, I guess we have plenty of funds - unless something goes wrong. Then I guess Ross would bail us out - again. Interesting thing is, would there be another rights issue? Seems a bit pointless because he would mainly be diluting himself!

[bach is dead] 11/9/2008 22:38

crippled with debt, must be the most leveraged company on the LSE