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|sagem: I note that this company is now involved in the German property market. They certainly know where to go to get the best investment as the German property market is at its lowest and can now only rise in value. Has nobody realised this yet and what a good investment to have a holding in the newly formed company now called SPYMILL.The share price is rising almost daily AND SLOW BUT SURE OUR LOST MONEY IS RETURNING. Am I glad I did not sell like so many others who had no confidence in the company. IT COULD HAVE GONE BUST AND ALL MONEY WOULD HAVE BEEN LOST.
In Germany the only major property market not to have seen any rise in prices in the last decade, there are some signs that prices are beginning to move in the right direction...articles are appearing about Polish people going across to Germany to buy up property there because its so cheap .....THATS GOT TO TELL YOU SOMETHING ( like Speymill seem to know exactly what they are doing and why they are doing it) SEE BELOW.........
It is our intention to establish a fund management business, focussed to begin
with, on property. To this end Speymill Property Managers Limited has been
incorporated in the Isle of Man.
As a first step, we announce today Heads of Agreement for the incorporation of a
new joint venture with a German company for the management of a portfolio of
properties (initially over 900 apartments) in Berlin. The majority of the
properties are owned by our major shareholder, Burnbrae, with the balance coming
from our German partner.
Plans are already advanced to take advantage of substantial Funds which are
being organised to invest in German properties particularly in Berlin. The joint
venture we are announcing today will be well placed to participate in that
The joint venture company we are planning is to be called GOAL Services Gmbh.
Ownership of GOAL will be divided in the ratio of 51% to Speymill and 49% to
LAGO Services, which is controlled by Herr Florian Lanz, who is based in Berlin.
LAGO is an existing German property management business with in depth knowledge
of the German construction market and a wide range of property contacts|
|wantage: Wigmore unlike many of these new property companies rushing off to Bulgaria
for pie in the sky property profits has done a great deal in Berlin.Nearly all Germans rent and don't own their property.Current yields in Berlin are roughly
10% and they can borrow at 3%.Their partner is heavily involved in the local
property scene,in development and architecture.This new deal underpins the share price, and hopefully will propel it higher in the future.|
|sagem: SVERDLOV....I have been predicting for some time now that Wigmore is in recovery mode and although a consolidation has taken place today the share price has risen which is very good news and shows that confidence in the newly formed company is a real asset to all investors. Certainly no sign of dilution so I am confident that this company is well on the way to RECOVERY, but their are others on this bulletin board who think differently.....I for one take no notice of these doom and gloomsters, but you must make up your own mind as I do always. GOOD LUCK.|
|knitcraft: SAGEM - 4 Mar'04 - 14:34 - 765 of 897
This is Sagem...That was not my post. I only give info as I see it or have read it. I only state that I think this share price is undervalued as the potential is very great. This is not a tip I am not a tipster and cannot see into the future.|
|sagem: TAMAYBROKE...Keep looking at the share price going up...YOU must be very wrong in your anaylasis.|
|tiredoldbroker: Just one more point. The most recent Burnbrae loan agreement would raise £500K, convertible into ordinary shares at 100 per 11p nominal, plus warrants for 50% of the number of shares issued, also exercisable at 0.11p.
Thats 454,545,454 shares for the loan and 227,272,727 shares on the warrants. Which would bring the total number of WGT shares issued or to be issued to 3.7 billion.
Given that Topchat believes the share price is going to 4p (well, he says he believes that, I don't think anyone is that stupid), perhaps he can explain how and why WGT would justify a market value of £148m - which is what a 4p share price would mean.
WGT has carried out the most audacious dilution of shareholder value I can ever remember seeing.
What I mean by that is (in very round numbers), from just over 200m shares in issue before they revealed their problems, priced at around 2.5p to value the company at say £5m, they have gone on to issue or promise to issue another 3.5 billion shares at barely 0.1p, to raise £3.5m. Lets say WGT was worth £5m, and that the cash raised isn't all being wasted on stemming losses, and that the combined value of WGT plus cash is £8.5m. The problem is that, divided between 3.7 billion shares, that works out to a value per share of 0.22p.
That's if you think WGT was worth its pre-crisis price (I didn't think it was) and that the cash raised won't go on trading losses and fees to bankers, brokers and consultants (which I think it will). There is no way, given the massive number of shares being issued, that small shareholders will ever see their money back. The shares might be worth 0.2p, but that's on an optimistic view.|
|psmith64: SAGEM - I do have work to do, I can't waste all my time giving free advice to pillocks like you that still after everything put faith in a board of directors, that quite frankly, if they can't make a profit after the last five years, aquiring profitable companies, are never going to make profits.
Time will tell, but I am sure with Global and Burnbrae now having a 51% share, they are not going to leave Hewitt & Co in place, and if they do, then frankly, they are not going to make any difference are they !!!
As for your comments, like, "the share price will be up tomorrow", based on no news, just your hopes, you are the one that makes yourself look stupid, because if you look at moment, the highest price obtained in todays sales is 0.17p, like TOB says, don't just write statements like that if you can't back it up as to why the shareprice will be back up tomorrow, because it isn't is it, they may have upped the offer, but the bid, and what you can get if you sell, remains firmly at the bottom of the spread.
When I made statements based on fact a couple of weeks back advising people not to buy, when you could have got 0.23p, at least I haven't locked them into 35% losses have I !!!!
Who do you think people are taking more notice of SAGEM, me or you ?????
And just a reminder of some more fact, Blanchards turnover in the last two years has probably been 50% provided ( £ 3.0 millon ) for their work with Annington homes ( this info was provided in a round about way in the buyout document, and was one of the against points that Peter Hewitt brough to investors attention, based on the fact that if they lost this work, or it dried up, it could have a detrimental effect on the trading of Blanchards ), well, I think you will find that this fact will now come back to haunt Peter Hewitt, because in the last six months, the significant amount of work this client provided has not been there, and in fact the current live job they have with them has not gone too smoothly due to a site problem, hence Peter Hewitts comment on a slow start to the new financial year, which probably part contributed towards the financial problems, because when one of the best parts of the company begins to underperform, its means problems ahead, which has now been bourne out.
Furthermore SAGEM, I think you will find in the Buyout document, Peter Hewitt did also mention that Wigmores own credibility could have an adverse effect on Blanchards trading accounts.
What I think he probably failed to mention here, is that it may also have an adverse effect on clients, as you will probably agree, people want to be sure that a large contract can be financed, before it is awarded, and clearly, Wigmores current situation will not have helped that.
Yes, they may have refinanced in recent times, at great cost to you the investor, but this by no means, means they are going to now suddenly make profits and the share price is going to go into hyperspace.
Before this share price lifts, people are going to want to see good some positive results, but it is going to be some time, as we already know, that this year is not going to reach managenment expectation, because Peter Hewitt has already told us this in an RNS.
So once again SAGEM - keep your mouth shut on your maybe's until you have some fact to back it up, and don't worry, if I hear anything good before you to make me think this is going to be a good recovery stock, I will let you know, right here, likewise, any info I find out to warn people against losing money, like they still would have in the last few weeks, I will continue to let you know that also.
I am lead to believe there is something going on in the background, what I can't say because it would implicate others, and whether it will be good for the price, if it happens, that is difficult to say, time will tell.
At present, I am happy to leave my £ 100 invested in Wigmore as a pure gamble, based on the hope that Wigmore becomes a cash shell, that a new management and new idea comes into the shell, but that is a 500/1 outsider, left as it is, the chance of this share even reaching 0.50p is a long and distant hope in my opinion only, but do your own reserach, and if you want to wait for the 1p, well, you would be better buying lottery tickets to make your fortune, and if you think your original 3p is acheivable, the stories that used to be on Jackonory have got more chance of becoming fact.
At present, as of today, with the man that lost you 90% combined with his board of directors still in place, my current thoughts on this share remain firmly against buying, and you have to agree, that over the last few weeks, I have been right.
You probably won't hear from me for a couple weeks now SAGEM, but it is not because I am keeping a low profile, it is beacuse in a couple weeks time I am going on holiday, so will be extremely busy pricing works for Blanchards competitiors before I go.
|tiredoldbroker: Didn't really want to say any more about WGT for a while but it occurs to me that it is pointless to talk about share price movements in this stock in terms of xxx% up or yyy% down.
The MMs, for their own reasons which I think some of you can work out, widen the price by lifting the offer while the bid remains little changed. This appears to pull the share price up, because for percentage changes and the Leader/Laggard board, the mid-price is used. But even on a day when the price rose an apparent 40%, anyone who had bought the day before would have been unable to get out at a profit. It's simply that the spread between bid and offer prices becomes ridiculously wide.
Then a couple of days later, the MMs drop the offer price back down (and nudge the bid down a fraction) so that the spread between bid & offer is narrower. This looks like a big percentage fall. But in terms of what you'd get as a seller, there's really very little difference.
So it seems wiser to always look at the bid & offer prices together. Currently 0.15p to 0.23p. Just remember that the price has little to do with normal trading and a lot to do with the needs of certain market makers to shift blocks of stock as loans are converted into shares.The MMs are there to help themselves, not to help you.|
|tiredoldbroker: Look, I'll stick my neck on the block and say quite categorically, there will be no bid for the whole of WGT at 1p to 1.5p.
I'm assuming that you all understand that the refinancing agreements entered into by WGT are legally enforceable contracts, and that the other parties involved are not charitable in their approach and will look to make the maximum profit from the deal. That's why, in return for Square Mile dropping the June proposals after they'd been agreed, they had to be bought off with the right to acquire 345 million shares for £175,000 (i.e. 0.05p per share). So given that the new financing involves issuing 2.77 billion shares at barely 0.1p, I flatly do not believe that anyone will bid 1p or 1.5p, making all those new shares worth 10 to 15 times their issue price.
Oh, and I had expected more comment on the fact that WGT's number of shares in issue has already almost doubled, with EVBG turning £200,000 of their loan into 200 million new shares, all of which will get placed at a profit with MMs or other sharedealers - to be ramped on to naive mug punters at a profit. Wonder if the only reason the share price is holding up is that it enables such dealers to pump stock out at a nice fat profit margin ?|
|tiredoldbroker: I still don't see where the optimism about this company has been coming from. The figures I quote below are from WGT's own website, and the official documents issued by the company in the past.
Speymill was bought by WGT in March 2002. In the year to 31 March 2001, Speymill had turnover of £16.3m and made a profit before tax of 690K. The acquisition was paid for by an offer of WGT shares at 3p.
In the year to 31 Dec 2003, Speymill had turnover "in excess of £17m" and excluding the 290K contribution made by Blanchards since its purchase in July 2003, the WGT companies (Speymill and FNPM) made a loss before tax of 592K.
Immediately before suspension, you could have bought the shares for 1.8p.
So where is the evidence of growth in turnover, or profits ? It looks to me as if, after 2 1/2 years of ownership by WGT, Speymill's turnover had grown by about 5% (i.e. less than inflation over the same period). So where have all the posts claiming WGT was winning new contracts come from ? They don't seem factual. Has FNPM been making such huge losses, on barely £1m of turnover, that all of Speymill's profits have been eaten up ? Or wasn't Speymill such a reliable profit source after all ? Remember what these figures mean - after 2 1/2 years as part of WGT, Speymill plus FNPM had swung from a 690K profit to a 592K loss - a turn for the worse of almost £1.3m per annum.
The boss of Speymill quits, followed rapidly by the group Finance Director. The share price slumps 11% immediately before the shares are suspended. The company announces it will make another announcement on an imaginary day of the week (there is no Wednesday 5th June 2004). It simply doesn't look competent or successful.
I suspect that it may mean that, for the second time, the FNPM business will be dumped into liquidation by the parent company, and for the umpteenth time, the market may be flooded with new shares in WGT at below the previous price.|
Wallgate share price data is direct from the London Stock Exchange