Waterlogic Share Discussion Threads

[colonel a] 19/7/2007 17:26

Now we know what the "Management Team" are made of.

I guess we'll find out whether the independent directors have any metal in the not too distant.

Edit:
Surely the problem is not the fact that it's cheap.
In most takeovers the buyer sees value that the wider market does not recognise.
The problems in this case are that these people seem to have deliberately created the bad sentiment and are in a position to prevent anybody else trying to do better.

[corrientes] 19/7/2007 17:00

A salutory lesson never to buy into a company where the owner can exert undue and unfair pressure. I would hope that there are other players out there who can see that this company is being taken out on the cheap at the bottom of the sentiment cycle.The directors give two fingers to the PI, but hey that's capitalism for you.

[smiler1] 19/7/2007 16:48

Disappointing price - but then the management are in a strong position. Will be interesting to see if the independent directors / Mazars can come up with any better options.

[knowsleyman] 19/7/2007 16:43

Woburn Ventures Limited new company formed on the 13th July 2007

[shanklin] 19/7/2007 16:40

Better add these 3 directors to the list of those to never trust under any circumstances. It may perhaps not be illegal but it all looks very smelly.

[pepi moon] 19/7/2007 13:25

same old story - I am still holding and would not be surprised if there were other bidders waiting to jump in once they have tabled their offer. all IMHO.

[ptolemy] 19/7/2007 12:17

Whether it's a underhand move or not, the buyers are putting themselves in a winning position.

By making the approach they're saying the company is very undervalued. The range of outcomes is (1) they'll take it private - and we need the non-Execs to ensure its a fair take out price, (2) someone else will approach and if so, the offer will need to be above what the Execs are offering, (3) it will all fall through, in which case they've sent the strong signal that its undervalued and we can expect more activity or a rerating. All imo..

[thepinkpanther] 19/7/2007 12:02

last results showed profit 330K x 10, 3.3m + 7m = 10.3+m

present mkt cap 8.2m

30% increase to come possibly ie 80p

good luck

[cwa1] 19/7/2007 11:58

knowsleyman

What a cynic. Nice to see I am not the only one :-)

[ptolemy] 19/7/2007 11:56

Colonel, float price was 84p.

[knowsleyman] 19/7/2007 11:52

I am probably an old cynic but can't help thinking that the awful results were an orchestrated way of getting the share price to fall and then take it private on the cheap.
I certainly think that the F.D. would have spotted what was happening with costs much, much earlier than would appear. If he didn't then he should not be in the job he is.
The whole thing stinks.
By the way I did average down right at the bottom and will make money. But that does not change my mind.

[bletherer] 19/7/2007 11:36

Was cursing my luck for being on holiday when results came out and these took a nose-dive, but all's well that ends well. Should at least get my money back now which didn't look likely a week ago.

[colonel a] 19/7/2007 11:30

Congrats.

I was asleep, managed to get 5K before the limits locked down.

I guess they will have to offer around the float price.
I think there are special rules when one party has a controlling interest but don't know what they mean in terms of an offer here.

[thepinkpanther] 19/7/2007 11:29

no, but price tgt 73p, unless broken.............

[ptolemy] 19/7/2007 11:28

Looks like management have had enough...take out price should certainly be above 70p imo.

[bronking] 19/7/2007 11:22

yahooooo

i'm in this at 50p
been waiting a couple of weeks and wondered wheather i'd dropped a b*llok as with cart

[colonel a] 10/7/2007 14:39

With the market cap to turnover ratio less than .1 and the company reasonably profitable it does rather scream take over.

But with one man owning 60% of the equity it's not going to a vote.

[pepi moon] 10/7/2007 14:03

personally I can see these being taken over - staying in and watching to see what the major shareholders do.

[corrientes] 10/7/2007 13:41

Retail sales had a mention on the early morning news today. Playing tricks with the numbers meant that position not as good as headline report, but I think kitchen sales were reported as still doing well.

[philjeans] 10/7/2007 10:47

I agree this is a good entry point for those prepared to take the risk/reward roller coaster.

Houses will always need kitchens - whether we stop buying houses or not. In fact, as the house price spiral gradually unwinds amd more stay put, a kitchen update looks ever more sensible, rather than waste it on stamp duty.

I'm in.

[colonel a] 10/7/2007 10:18

Indeed.

The last TS reiterated that profits would be 1.8 million before the exceptionals raised in the previous TS.

Profits did not make 1.8 million - they were 1.62
And the exceptionals had also risen from an initial estimate of .5 million to almost .8
But this was ommitted.

Which with only 13 million shares pretty much is the difference between divi and no divi.

So basically the company is not being run as well as it might and the powers that be are also somewhat lacking in intestinal fortitutde.

But other than that it looks like a buy.