Waterlogic Share Discussion Threads

[deanroberthunt] 30/7/2008 14:36

Daylight robbery.........

[knowsleyman] 29/7/2008 14:05

Mongrels

Clearly, he was not in a position to give any indication either way, however we have to accept that the industry as a whole is in a mess. I am expecting there to be a loss. The only question is how big?

[mongrels1] 29/7/2008 12:59

Knowsleyman, Thanks.

Did he give any insight as to how they were doing?

[knowsleyman] 29/7/2008 12:48

Having spoken to Steven Steel today about the impending results I am advised that they are scheduled to be released on the 15th August.

[ptolemy] 25/6/2008 15:28

Results in a week or so (I guess). Lots of trading activity today (1 buy trade) - perhaps someone knows something....

[bletherer] 21/5/2008 11:52

Problem here is the management - I sold out at much higher levels so in theory I could get back in at this point having "saved" on my investment. But with a small company I want to feel I can believe what management are telling me and don't have to question all the time whether they are stitching me up, whereas I'm afraid my experience with this bunch was pretty much as expressed by knowsleyman in post 550.

[neguss3] 21/5/2008 10:58

At this price is this not a screaming buy now?

[strutt12] 26/3/2008 12:16

did i miss something

[ptolemy] 26/3/2008 10:47

Oh dear...

[knowsleyman] 07/3/2008 13:14

Could it be that the previous broker and advisor resigned because they concluded that the directors are lying, cheating crooks who cannot be trusted and not fit to be any part of a Public Company?

[investopia] 05/3/2008 11:42

'Poor trading conditions in January and February 2008, especially with
respect to kitchen furniture, which has led to a significant reduction in
the level of turnover forecast for the final quarter of the year;

• Reduced levels of confidence in the sector among our customers, as a
consequence of their turnover slowing, brought on by interest rate
uncertainty, increasing personal debt levels and a slow down in the house
moving and refurbishment sector;

• Significant increases in fuel costs through January and February 2008;

• Weakening of the Pound against the Euro in the final quarter of the year
ending 31 March 2008; and

• Increasing failure rate among internet based customers is resulting in
increased bad debts'



Just sounds like the truth to me. Looks like what the share price was discounting all along.

Don't know why they over paid for the property though.

I note that the debt is quite high which could make private ownership less attractive. On the other hand, one director controls already and if the company survives, the operational gearing could work wonders on the profits climbing out of the downturn. Given that scenario, what advantage would private ownership have over riding a rapidly rising share price?
Also, private owners can't go cap in hand to shareholders if things get really bad.

I have wondered in the past whether this company is being run for its directors rather than its shareholders, but, rather lazily, have not yet checked the level of director remuneration: has anyone got a quick handle on that?

[lord buffett] 05/3/2008 10:07

Ptolemy

However, on the hand, the company have just announced a change of advisor and broker and the the new broker (St Helen's Capital) has initiated coverage of the company with a broker's note and Buy rating - not what I'd do if I wanted it on the cheap.

(I'm not saying that will necessarily have a positive influence on the shareprice with today's profit warning and current market sentiment in general, but it's obviously not aimed at having the opposite effect.)

[ptolemy] 05/3/2008 09:19

Looks like they've abandoned any pretence of corporate responsibility so they can take the company private on the cheap...

[corrientes] 05/3/2008 08:35

and they didn't know about this when they paid over the top for the property !

The composition of the RNS suggests that they're making things look as bad as they possibly can, and for what reason one couldn't possibly say !

The comparison between reasonably recent RNS's and this one would make you think that everything said previously is a pack of lies. Their previous strategy seemed highly professional (on paper) but in reality we find out that they're really just a bunch of donkeys.

This is only a petty cash item for me, thank goodness.

[strutt12] 05/3/2008 08:19

and the bad news continues

[kenatbabken] 08/2/2008 14:17

Bought a few of these,With a Market Cap of 3.8m got to be worth a punt.The
property purchase is a scandal but long term better than leasing.

[corrientes] 03/2/2008 18:33

Maybe we should band together and make a formal complaint. Unity is strength.

[knowsleyman] 03/2/2008 16:41

I have emigrated to Cyprus and been out of touch for a couple of weeks and have there been changes in that time.

So far as I am concerned this property deal is as bent as a nine bob note.

I have read carefully the reasoning and agree that, in the long term, the purchase will benefit the company.

What appears to have been, deliberatley missed is that the company is still buying an investment property and the deal should take place at the current value, as set by the Surveyors. To the company the property may well have a value in excess of the valuation, but that excess should be for the benefit of the purchaser, certainly not the vendor.

The "Independant" Directors are a total waste of space.

[ptolemy] 01/2/2008 09:16

Property transaction doesn't seem above board - wonder what the independent directors think about it? Perhaps there was an agreement made middle last year which was put on hold due to takeover interest. Perhaps they see this as honouring the agreement....

Since 25% fall a few days ago any big trades should have come through, but I haven't seen them. If so, could the MM real have dropped the price by 25% on a few tiny sells? Again, if so,the Directors will know and should hoover them at this price...

[ntv] 31/1/2008 22:07

if you don't like what the directotor is doing you can complain to the aim regulator
contact no. on lse web site

[corrientes] 31/1/2008 21:32

There was supposed to be a cushion servicing up market clientele who are somewhat immune from the recession. Wouldn't it be 'amazing' if they pushed the doom and gloom bit,took the company out for a song,just at the right time (for them) and showed a good profit after the company went private. You'd know by checking the company accounts at Companies House,subject to safe auditors.I think I'll make a note to check this out. Of course the owner wouldn't think of doing such a dastardly deed. LOL.

[stegrego] 31/1/2008 18:56

From thread header Jan 07 at a price around 85p

'On the current fwd PE of 6.7 I'm struggling to see the downside and see very good upside. The price seems to have huge risk factored in that I don't currently see materialising.'


What a difference a year makes eh? But clearly the price didnt factor in anywhere near the downside which had been about 60% so far and heading down...

Hindsight is a wonderful thing, but buying into a kitchen maker when the housing market and economy was clearly cooling was never going to be the smartest thing to do... Add into the unknown factor that they seem to be crooks and hey presto

[bletherer] 31/1/2008 00:02

Looks like I got out in the nick of time here - what a nightmare this company has become.

[corrientes] 30/1/2008 22:54

If the worst comes to the worst (buyout at a ridiculously cheap price), can't an oppressed minority be able to do something about it, or is ripoff the norm on AIM, rather than the exception. Don't answer that.

[stegrego] 30/1/2008 21:09

Wow - how crooked are these guys?

CR - you can certainly pick em!