Watchstone Share Discussion Threads

[geoffreen] 19/9/2016 11:36

rogthepodge,

Snap!

[rogthepodge] 19/9/2016 11:36

and whoever B.E. is is clearly innumerate, not a good thing in a financial 'blogger'

[geoffreen] 19/9/2016 11:36

BE
Well, yes. One can argue caveat emptor in this case.

Yep.

[rogthepodge] 19/9/2016 11:35

caveat emptor

buyer beware exactly!

I can't see SGH succeeding on this one

[funkmasterp12] 19/9/2016 11:30

I'll defer to FT Alphaville to, as always, brilliantly summarise:

PM
Watchstone / Quindell

PM
This is just laugh out loud stuff

PM
You could not make it up

PM
hxxp://www.investe...1609190700101363K/

PM
Just read it.

PM
Basically, they discovered that all the numbers were half that published earlier

BE
Ah, I see. So their numbers were all wrong by approximately 100%.

PM
Or is it 50%

PM
Eitehr way, just hilarious

BE
It's quite something, yes. And the lack of any explanation in the statement is pretty great as well.

BE
The news that they got all their numbers wrong has been rather overshadowed by the news that S&G doesn't want to pay the last £50m.


PM
What was the taxloss tweet on this earlier?
PM


taxloss @taxlosstrades
Slater and Gordon trying to claim on their warranty against their own stupidity $SGH £WTG
12:31 AM - 19 Sep 2016


BE
Well, yes. One can argue caveat emptor in this case.

BE
Because seriously. All it would've taken was five minutes. The fact that S&G apparently bailed out Quindell remains one of the great inexplicables of recent years.

[rogthepodge] 19/9/2016 11:21

of course Slaters are trying it on, they are lawyers. It's what they do.

Let's see how this winds up. Slaters have made a song and dance in the past about how comprehensive their due diligence was. Unlikely in my opinion, to end up in court.
Probably just bluster to appease SGH shareholder like myself.

[geoffreen] 19/9/2016 10:56

Given S&G's situation, the claim against WTG was, of course, always a distinct possibility.

[theunluckyone] 19/9/2016 10:20

hvs1 - NO your quote is that Watchstone WILL receive an adverse opinion but the RNS certainly does not give that slant so you are amending the RNS to suite YOUR purpose



Anyway I am off to check on my other profitable investments so bye bye muppet !!!

[hvs1] 19/9/2016 10:16

I quoted the important part - the professional opinion

back to sleep muppet, lol

[theunluckyone] 19/9/2016 10:14

hvs1 - If you are going to quote the RNS give the whole quote not just the section that suits your purpose !!

"Following 29 November 2016, monies will be released to Watchstone from the Warranty Escrow unless, inter alia, Watchstone receives an opinion of a senior independent barrister stating that a given claim is more likely to succeed than not ("Opinion")."

[hvs1] 19/9/2016 10:04

you really are a class pillock son

"Watchstone receives an opinion of a senior independent barrister stating that a given claim is more likely to succeed than not"

That kind of sums it up

lol

[geoffreen] 19/9/2016 09:48

Neither of these 2 RNSs helps things, that's for sure.

The stock will now remain under the cloud of the S&G claim until the company can provide more clarity about it.

But I can remember S&G conducting lengthy due diligence before going ahead with their acquisition, so I would have thought WTG should, indeed, be able to defend themselves "robustly".

[ionlypostafterbbms] 19/9/2016 08:56

Where's the village idiot this morning?

Come out, come out wherever you are!

[hvs1] 19/9/2016 08:51

ah, remember those good old days when the oafs used to say "this was a great british company employing farsands and farsands", lol

and that rancid queen used to spout that lord ponzi was the greatest business man ever, lol

this aint no business, this is just a depleting pile of cash, just depleting a bit faster now, lol

[funkmasterp12] 19/9/2016 08:50

Just seen the restatement, oh dear!At least this feels like proper Quindell this morning ;)

[funkmasterp12] 19/9/2016 08:32

The slow and painful death begins.

[ionlypostafterbbms] 19/9/2016 08:26

Come on then you die hard bulls, let's hear the spin on this.

I want to hear how this is nothing whatsoever to do with RT, QPP or WTG & all the fault of TW & his shadowy shorting cartel.

Then I want to hear why it's actually a good thing.

[richie666] 19/9/2016 08:13

Must admit that this doesn't look good for WTG. Ex the £50m in escrow they are sub 100p as a stock on valuation grounds and there is a lot of leveraged money in here including poor old Evil Knievil (another howler for him!). Be careful is my interpretation.

[ionlypostafterbbms] 19/9/2016 08:08

Double yikes.

TW & the global shorting conspiracy must be working overtime!

Watchstone Group PLC
LON: WTG - Sep 19, 8:07 AM GMT+1
Price 150.44 decrease 65.56 (-30.35%)

[ionlypostafterbbms] 19/9/2016 08:07

Yikes!

Watchstone Group PLC
LON: WTG - Sep 19, 8:06 AM GMT+1
Price 170.00 decrease 46.00 (-21.30%)

[ionlypostafterbbms] 19/9/2016 07:59

Ahoy!

Top up opportunity on the horizon!!

Get in there you mugs.

[neilrr] 19/9/2016 07:52

How could they make such a school boy howler of a mistake?

[leadersoffice] 19/9/2016 07:42

There goes the £1 capital return to shareholders instead being awarded to Slater & Gordon. Watch this space

[hvs1] 19/9/2016 07:18

massive massive lolz

superb news, lolz

anyone who didn't see that coming is an oaf