Share Name Share Symbol Market Type Share ISIN Share Description
Watchstone Grp LSE:WTG London Ordinary Share GB00BYNBFN51 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -1.50p -0.83% 180.00p 180.00p 184.00p 181.00p 180.00p 181.00p 10,772.00 09:53:55
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Software & Computer Services 58.3 -178.0 609.0 0.3 82.48

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Date Time Title Posts
30/11/201623:44WATCHSTONE GROUP PLC2,717.00
14/11/201610:15Watchstone Group Share Price Chat (was Quindell)97.00
30/7/201614:10Is Watchstone (ex-Quindell) Group going to 0p before the end of the year? 33.00

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Trade Time Trade Price Trade Size Trade Value Trade Type
09:53:51180.0080144.00AT
09:53:22179.54300538.61O
09:52:41181.0057103.17AT
09:52:41181.007641,382.84AT
09:52:29179.664,8178,654.24O
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Watchstone Grp (WTG) Top Chat Posts

DateSubject
06/12/2016
08:20
Watchstone Grp Daily Update: Watchstone Grp is listed in the Software & Computer Services sector of the London Stock Exchange with ticker WTG. The last closing price for Watchstone Grp was 181.50p.
Watchstone Grp has a 4 week average price of 187.42p and a 12 week average price of 190.99p.
The 1 year high share price is 353.75p while the 1 year low share price is currently 115p.
There are currently 45,822,708 shares in issue and the average daily traded volume is 197,464 shares. The market capitalisation of Watchstone Grp is £82,480,874.40.
12/10/2016
12:30
dalesiders: Companies Compensation sought in class action against Slater and Gordon Slater and Gordon managing director Andrew Grech. Pic: Britta Campion The Australian 12:26PM October 12, 2016 Save Share on Facebook Share on Twitter Share on email Share more... Daniel Palmer Business journalist @Danielbpalmer Maurice Blackburn today filed a class action against stressed law firm Slater and Gordon in a bid to recoup losses for shareholders from a share price collapse tied to a calamitous UK expansion. Confirmation of the $250 million-plus class action, among the largest ever shareholder class actions in Australia, forced beaten-down Slater and Gordon shares 6 per cent lower in morning trade. It also came as ACA Lawyers said it was finalising its own class action against Slater and Gordon, hinting an intention to press forward shortly. The previously-flagged class action from Maurice Blackburn relates to any investor who purchased Slater and Gordon (SGH) shares between March 30, 2015 and February 24, 2016, a period in which around $2 billion was stripped from the law firm’s valuation. At the heart of the complaint is queries on the due diligence behind the disastrous $1.3 billion purchase of the professional services operation of UK-based Quindell, which was primarily funded through a $900 million capital raising, as well as activities leading up to a sharp downgrade in profit guidance. “The statement of claim alleges that … SGH made false and misleading statements, engaged in misleading and deceptive conduct, and/or breached its continuous disclosure obligations to shareholders which prevented shareholders from being able to make informed investment decisions based on complete, accurate, and timely information about the Quindell acquisition and the true state of the company’s overall financial position,” Maurice Blackburn said in a statement. “It is alleged that SGH contravened various provisions of the Corporations Act, ASX Listing Rules, the Australian Securities and Investment Commissions Act and the Australian Consumer Law, and that these contraventions caused the price of SGH shares throughout the period to be higher than would have been the case had the true state of affairs been known.” Maurice Blackburn said it would also make the argument that if the true risks of the Quindell purchase were known, the capital raising and acquisition would not have proceeded. The firm added compensation sought for affected shareholders would be of a “very significant magnitude”. “The sheer scale of the alleged wrongdoing, its impact on the share price and the number of shareholders affected mean that this case will be one of Australia’s largest shareholder actions,” Maurice Blackburn national head of class actions, Andrew Watson, said. “In addition to the hundreds of millions of dollars in losses our registered clients have suffered, we’re also protecting the interests of all other relevant shareholders by filing an open action, bringing the total claimed losses to more than a quarter of a billion dollars.” A separate class action is likely to be pursued by ACA Lawyers, with the firm saying it was shoring up a case that would seek to recompense affected investors through a longer period than the class action pursued by Maurice Blackburn. ACA detailed the prospect of a class action on December 18 and today announced its investigation had discovered “potential misconduct” as far back as Slater and Gordon’s FY2014 results. “It is important we ensure we identify all losses suffered by shareholders that may be the result of Slater and Gordon’s misconduct,” ACA principal Bruce Clarke said. “We are taking the time to ensure we make the strongest case possible to recover the maximum possible losses on behalf of Slater and Gordon shareholders.” Shareholders who bought shares from August 12, 2014 through until February 28, 2016 will likely be eligible to participate in the claim. In a statement this morning, Slater and Gordon said it was yet to formally be served with papers relating to the Maurice Blackburn-led proceedings. “Slater and Gordon will inform the market if a class action claim is served on the company.” The group’s shares skidded 6 per cent to 39.5c by 11.40am (AEDT).
23/9/2016
11:05
rogthepodge: do you always follow IC share tips 'IOnlyPost'? In my view this company has a bit of value in its components, as they are flogged off The market doesn't seem to be pricing in much risk re: litigation WTG has recovered a bit and SGH share price is unmoved disclosure: (honest and transparent, unlike some) I hold SGH and REDD in this sector, but take an interest in WTG, as it seems to be the focus of someone's obsession. Someone who seems to want to damage it because of its historical RT connection. Pathetic!
16/9/2016
14:36
ionlypostafterbbms: Obviously one of them is QPP / WTG. http://www.fool.co.uk/investing/2016/09/16/2-investment-disasters-to-avoid-after-todays-news/ This firm has lots of cash Watchstone Group (LSE: WTG) — the company formerly known as Quindell — reported its interim results today. Underlying revenue rose by 10.7% to £31.9m, while the group’s underlying EBITDA loss was reduced from £13.8m to £6.9m. The group’s cash balance at the end of August was £89.3m, or about 191p per share. Watchstone also has a further £50m of cash in escrow that relates to the sale of its professional services business to Australian firm Slater & Gordon. Watchstone hopes this will be released at the end of the warranty period in November. If it’s released, then Watchstone plans another £1 per share return to shareholders. That’s the good news. The bad news is that the firm’s cash balance is gradually being eroded by the poor performance of its operating businesses. Today’s results show that Watchstone’s four businesses are all either lossmaking or only marginally profitable. Growth appears uncertain too. Watchstone’s share price is being supported by the firm’s large cash balance. But what this tells me is that the market thinks the group’s underlying businesses aren’t worth much. Watchstone is also the subject of a Quindell-era Serious Fraud Office investigation, which could lead to cash penalties. In my view, Watchstone shares carry a lot of risk. I think there are far better growth opportunities elsewhere in today’s market.
27/5/2016
08:34
henchard: The new transparency is indeed refreshing. I said yesterday I was tempted to think there might be value in the company at the current share price. It's now a matter of going through these accounts in detail and see how much value. As a start, to update my base numbers from yesterday: Per the WTG website: Current total shares in issue 46,038,333 as at 04 May 2016. So, £86.9m cash in the company = 189p a share. £50m in escrow = 109p a share. £39.6m current value of NIHL cash from SGH = 86p a share. Total = 384p a share. Current share price: 238p (discount 38%). Assessing the cash outflows to potential cash neutral will be a consideration, but good to see for example that they're slashing the £11m a year they were throwing at Himex/Hubio to "to less than £5.0m per annum on an annualised basis from September 2016 with a target to make the business self-financing during 2017." NIHL remains the trickiest thing to assess, with nothing further in today's results on the subject beyond: "We remain hopeful of receiving, in time, contingent consideration in respect of the disposal of the PSD and we remain in close contact with S&G in respect of this matter."
26/5/2016
18:52
henchard: So, to continue with the thorny question of NIHL cash ... According to one of those infamous Quindell "teach-ins", designed to educate investors on such matters as "waterfall effects" and how 2+2 can = 5, the "base fee" after cost drafting and client deduction for an NIHL case was about £7,250. According to the "Proposed sale of the Professional Services Division" of 30 March 2015, Quindell/Watchstone would get from Slater & Gordon: "Deferred cash consideration of 50 per cent share of net fees from the settlement of NIHL cases transferred on completion (as at 29 March 2015, the Company was acting for clients in respect of approximately 53,000 NIHL cases)." So, 53,000 cases x "base fee" of £7,250 = £384m, 50% of which is £192m. While WTG board has said current value of "net fees" due is £36.9m. Presumably, WTG shareholders can enlighten me as to the costs involved that reduce the base fee of £192m, which is after cost drafting and client deductions, to £36.9m? I'm really tempted to think there might be value in WTG at the current share price, but the crucial question is how much cash WTG will theoretically receive from the 53,000 NIHL cases it handed to SGH (before factoring in any potential under- or over-delivery). You long-term guys who studied all the QPP teach-ins probably have an understanding of the gross fees and various cost components involved. What are the numbers you're using, and do your calculations suggest the £36.9m WTG is expecting is about right, or do your calculations suggest a significantly higher or lower cash flow from the 53,000 NIHL cases? This is what I would want to have some handle on before deciding whether there is value in WTG shares at the current level. Just as a footnote. geoffreen you said "not all businesses that are loss-making are without value, it all depends ..." The only yardstick we have is WTG's recent disposals: "The Group is expected to recognise an overall loss on the disposal of Quintica of approximately £5.7 million for the year ended 31 December 2015" and "The Group is expected to recognise an overall loss on disposal [Brand Extension UK] of approximately £4.2 million for the year ended 31 December 2015".
26/5/2016
16:18
henchard: Meanwhile, turning to the financials, what is the potential upside for investors buying in today? On 9 November WTG said: "Following the Return of Capital, in addition to its operating businesses, the Company expects to retain approximately £90 million in cash. The Group has a further £55 million held in escrow accounts relating to the Disposal and the Company retains rights to contingent consideration estimated to have a current value of approximately £39.6 million." Per the WTG website: Current total shares in issue 46,038,333 as at 04 May 2016. So, £90m retained cash = 195p a share. £55m in escrow = 119p a share. £39.6m current value of NIHL cash from SGH = 86p a share. Total = 400p a share. Current share price: 223p. Upside on this basis close to 80% with no value for the retained (loss-making) businesses. I reckon WTG will get the £55m (119p a share) in escrow. S&G screwed up on their DD; their own fault. So, what is the current retained cash? How much cash have the retained loss-making businesses lost? What have been the cash corporate costs since November? What have been the legal costs? Has WTG settled any My Legal Friend shareholder claims or booked them as provisions or contingent liabilities? I would say all these things are big unknowns. As a potential investor, I'd be happy to work on the basis of current retained cash available for distribution of £60m (130p a share). So, + escrow cash = c. 250p a share (upside 12% from current share price). Then the thorny problem of NIHL cash from SGH ... Arghh, low battery ... but numbers above may be some basis for serious discussion of the financials, and current value ...
31/1/2016
22:09
flatpack: It is good to see a couple of constructive comments on here as opposed to some of the daily garbage seen recently. Nicky Name – well done! At least someone was watching the close of the market on Friday and detected the late flurry! Having been a market maker and retired for some years now, I still find watching the manipulations that go on, intriguing. What is clear in WTG’s case, is that either the company broker - possibly for its own book or for a client/s, or a large buyer or a market maker clearly wants sizeable stock. I apologise if I am preaching to the converted but it's an old trick. When there are no sellers, a large buyer must try and rock the boat and shake out a few weak holders by selling a bit of stock. We have seen this nearly every day in WTG recently. Small parcels of stock are sold almost certainly by the buyer, deliberately at the low opening bid price to knock the price. The MM sees stock sold at the low level and probably knowing what the seller is up to and is really a buyer, obliges by dropping the bid price. So after the opening price of 250 – 260 seeing a small sale at 250 the MM drops the price to 240-260. A few bids come in during the day and gradually the price recovers. Then towards the end of the day a MM teases the other MM’s by coming in and bidding aggressively for stock. We see a sudden price recovery without hardly any stock changing hands. Mark my words, there is a big buyer out there and do not be surprised if we see the share price back above £3 without hardly any volume. One thing is certain the share price is not going down!!!
30/12/2015
12:52
loobrush: from iii What is the value of Watchstones Shares now. £5.32 per share maybe ? Looking back at accounts of Watchstone I have carried out calculations on what the share price might be. Watchstone have stated that after payments of 90 p per pre-consolidation share they will have appx £90 million cash left. (see RNS dated 26 Nov) ( the £90 million I have assumed is the value at Dec 31 this year so this would include any losses up to that time) So with 45 million shares now in issue this equals cash of £2.00 per share As well as the £90 million cash held they have reserves of a further £50 million in escrow and a contingency of £39 million total £ 89 million.( see June accounts) If this is added in this would give an extra + cash per share of £1.97 per share. Making a total of £ 3.97 cash per share. This is the share value based on cash only.. However, if we look at cash plus other assets. Assets at June(excluding cash) were £151 million (see June accounts) This equals £3.35 per share. So assuming assets are the same at today’s date as June this gives us figures if added to the cash only values as follows :- 1.Cash only + assets. £2.00 + £3.35 = £5.35 per share 2.Cash + reserves cash + assets. £.3.97 + 3.35 = £7.32 per share By my calculation these are today’s values, so one might expect the share price to be somewhere near these values dependent upon how long and at what cost it will take to reach profitability. One would have thought that the cash only +asset value of £5.35 per share would be a fair price as that assumes the reserves and escrow figure of £ 89 million should be enough to reach profitability. We shall see how accurate my figures are when next accounts published. But what should the share price be TODAY. The share price should in any event be underpinned by directors buys at £1.96 & £2.57.
22/12/2015
09:39
loobrush: iii posting this morning Watchstone £5.32 ? What is the value of Watchstones Shares now. £5.32 per share maybe ? Looking back at accounts of Watchstone I have carried out calculations on what the share price might be. Watchstone have stated that after payments of 90 p per pre-consolidation share they will have appx £90 million cash left. (see RNS dated 26 Nov) ( the £90 million I have assumed is the value at Dec 31 this year so this would include any losses up to that time) So with 45 million shares now in issue this equals cash of £2.00 per share As well as the £90 million cash held they have reserves of a further £50 million in escrow and a contingency of £39 million total £ 89 million.( see June accounts) If this is added in this would give an extra + cash per share of £1.97 per share. Making a total of £ 3.97 cash per share. This is the share value based on cash only.. However, if we look at cash plus other assets. Assets at June(excluding cash) were £151 million (see June accounts) This equals £3.35 per share. So assuming assets are the same at today’s date as June this gives us figures if added to the cash only values as follows :- 1.Cash only + assets. £2.00 + £3.35 = £5.35 per share 2.Cash + reserves cash + assets. £.3.97 + 3.35 = £7.32 per share By my calculation these are today’s values, so one might expect the share price to be somewhere near these values dependent upon how long and at what cost it will take to reach profitability. One would have thought that the cash only +asset value of £5.35 per share would be a fair price as that assumes the reserves and escrow figure of £ 89 million should be enough to reach profitability. We shall see how accurate my figures are when next accounts published. But what should the share price be TODAY. The share price should in any event be underpinned by directors buys at £1.96.
30/11/2015
15:29
martinbaker: Quindell (QPP) is now Watchstone Group (WTG) and the shares are now listed on AIM. http://uk.advfn.com/stock-market/london/quindell-QPP/share-news/Quindell-PLC-Results-of-General-Meeting/69486450 The WTG share price opened at 96.75p on 27th November. Watchstone Group shares will be suspended at 7:30am on 16th December for the court hearing. What are your predictions for the WTG share price? Let's try and avoid ramping and bashing and get some ideas where the share price will be after the court decision!
Watchstone Grp share price data is direct from the London Stock Exchange
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