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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| West. & Orient. | WEST | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 0.08 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.08 | 0.08 |
| Top Posts |
|---|
Posted at 04/4/2011 12:06 by sobers Several schools of thought on this . First would be Pavlos & Kumar increasing their % to be more influential on the 7th . Second would be a couple of Inst. Investors , for same reason but for very different purpose . Third would be new investors seeing a low cost possible quick return investment .Obviously company is confident the disposal of travel will go through , not unrealistic given the ramifications . The delisting is far from certain , which could be interesting . Toys and pram come to mind . |
Posted at 31/3/2011 20:34 by value viper scandalous rip off by mgment misleading investors ; they shouldnt be able to get away with it but they will. |
Posted at 30/3/2011 12:41 by sobers Could be two schools of thought on this . One Its Pavlos buying up shares to stengthen his position on the 7th , or maybe one of the Inst . Investors taking more just to prevent delisting and/ or the selling of travel . I think if you had said to Pavlos a year ago he could have bought the Events side ( his only interest ) for £1.5m he would have snapped your hand off , so hoovering up extra shares at a fraction of their value would not be a concern to him , but that would be acting maybe in the interests of O.C rather than WO shareholders . Ethical -probably not . Would be reassuring if it was one of the Inst. Investors making a stand against being shafted . Whatever happens , WO is a discredited company in so many eyes . |
Posted at 28/3/2011 11:09 by sobers UKMassy - As long as Pavlos & Kumar continue to feel a bit nervous about outcome of 7th April AGM , they will be in buying mood , and this could see the share price rise to the giddy heights of .25 . But cant see any new investors coming in until AGM out of way . WO is now a tarnished brand , and speculation is that both Kumar with travel and Pavlos with Events will look to disassociate name once they have control . |
Posted at 28/3/2011 09:29 by qantas City Insider: How Western & Oriental annoyed the CityMar 28, 2011 07:52 The firm's move to de-list from the AIM stock exchange will damage travel's reputation in the Square Mile, says the FT's David Stevenson If one was looking for an almost perfect textbook example of how to really, really annoy the City of London, Western & Oriental would surely be top of the pack. W&O's latest move to delist from AIM is the final nail in the coffin for small cap travel companies on the London market. From now on any budding travel entrepreneur looking to list their company in London will have to pass the gauntlet of questioning that will revolve around a simple challenge "you're not going to do an W&O on us are you?" The last time I looked the share price was in absolute freefall as the management announced that they'd cancel the AIM listing on April 15 subject to shareholder confirmation (which is probably a certainty given the cleansing of the shareholder register in recent days) . No amount of soothing words about the company offering an off exchange dealing facility will calm any institutional investors looking to realise the value of their failed investment. As is always the way with these minor scandals, the actual icy cold logic behind the delisting makes sense. Now that the travel division has been offloaded on to a director, the company needs to cut costs and focus on the core and profitable events division. This unit is probably likely to make £700k in 2010. That in itself suggests that the husk of W&O is a viable investment but that sadly the stockmarket listing is currently costing the company £200,000 a year, money which the board believes can be "better deployed as additional working capital in the business." The directors also have a point about spending a 'disproportionate amount of senior management time' talking to the City, and of course the plummeting share price and poor liquidity does indeed have a 'considerable negative effect on the perceived market value of the group'. Nor are they wrong about the current market capitalisation creating "an artificially low starting point for discussions with any potential buyer of the business." All of this is, with hindsight, perfectly sensible stuff and understandable if you are one of the last remaining major shareholders. Sadly for every other investor it's a complete disaster for the cynics it'll be a perfect example of why you really can't trust the promises of growth from a travel company looking to list on the London market. In far, far too many cases investors have been sold on a growth agenda where some secular driver is supposed to deliver gold somewhere over the horizon. Sometimes the logic is putting together disparate businesses and driving in cost and sales synergies. In other cases it's a new niche that has great potential future value. The reality is that the growth is in fact illusory. W&O's own words on its (private) future sum it all up "the Company intends to pursue a strategy of profitability rather than growth going forward". Profits! They're always a nice thing to have, aren't they? And now for some bad news The last week has not only brought some glorious bright, spring weather but also some good news courtesy of the budget and other key economic indicators. You'll all know the smidgeon of good news emanating from Osborne's ministerial red box re APD whereas you might well have missed a recent survey from the housing front line, in this case from website Findaproperty.com. This national property website proudly declared that they'd seen the biggest increase in UK property prices since May 2010, with an average increase of 0.5% (that equates to an increase of £1,122 in a month, bringing the average asking price of a home in the UK to £216,968). The website hesitantly suggested that this was the second consecutive month of increases; with the South East yet again declaring the best numbers with an increase 0.9% in prices (the wooden spoon belonged to the North East where prices fell 0.2%). So time to break out the champagne and book all those summer holidays? Unfortunately this week also brought numbers from a rather more important household survey that's closely watched by many leading economists. The numbers in question come from City research firm Markit and look at the changing dynamic of consumer sentiment. The ebbs and flows of this index are one of the best gauges of consumer confidence available and the news from this survey is unbelievably grim. Markit asked households whether their financial situation had changed over the last month astonishingly every income level (from less than £15k pa through to those with more than £57k) disclosed a deterioration in their household budgets. The overall index is currently at 35.2 (50 would imply no change or deterioration) and according to the research firm this the "steepest monthly deterioration in household finances since March 2009. "Almost 35% of households reported that their finances worsened since February, while just 5% saw an improvement. The resulting index was well below the 50.0 no-change value in March and signalled another sharp deterioration in household finances. Public sector workers remained more downbeat than those with jobs in the private sector, although finances deteriorated at record survey rates in both cases". Looking to the future these numbers are necessarily estimates the picture is equally grim, with record low levels again. "People working in education, health and social services reported the most pessimistic assessment of their future finances since the survey began (53% expect a deterioration and only 14% an improvement). Sentiment about future finances among mortgage holders slipped well below the national average; dropping to the lowest since the start of the survey in February 2009 (53% anticipate deterioration and only 18% an improvement)." To describe these numbers as deeply depressing is, I think, an understatement of epic proportions. Consumer confidence is clearly cratering and I suspect the budget will have done nothing to lift spirits. The few, largely token, pro-growth items in the budget were welcome but will hardly affect most people even the small number of entrepreneurs I talked to seemed a tad under-whelmed. What really matters to aggregate demand within the economy are big tax increases, easier availability of credit, and evidence of a sustained pick up in jobs. These power the inner mechanics of the UK economy which in turn feed through into household spending and as we stand at the moment none of these triggers seems to be much in evidence. The odds on a double dip in the UK economy seem to be growing by the day although we do currently seem to be the odd one out on the world stage, barring Portugal and Ireland the global economy will take a hit from the tragic events in Japan but trend growth seems sustained and the US does seem to be continuing with its recovery. The UK by contrast looks to be slipping backwards which is I suspect bad news for those late summer holiday bookings. |
Posted at 26/3/2011 10:59 by sobers I said earlier a sea of red , more like a bloody big ocean . Think Pavlos & Kumar are sweeping up the fringe shareholders who just want out at whatever cost . Not sure the Instit. Investors ( many who feel they have been royaly shafted )and who can tip the balance will see it same way , and their decision will be crucial to the delisting .Selling travel not such a close call with just 50% required rather than the 75% for delisting , and the options for travel more clear cut , either accept the decision to sell or be prepared to invest more just to ensure they continue to have the right to trade . For most a no brainer , even if it is unpalatable . Glass of Ouzo with your chicken tikka , sir . |
Posted at 23/3/2011 14:41 by mister md "W&O Events managing director Sallie Coventry said: "This is brilliant news for us as an agency. We are stripping out unnecessary overheads and the whole team, including the board of the PLC, will concentrate on delivering outstanding events and growing the business." Not so 'brilliant' for investors though |
Posted at 21/3/2011 11:06 by sobers I think the city investors feel they have been sharfted and are looking for exit as want nothing more to do with the good ship Western & Oriental , so will probably take anything on the northern side of .20 of a penny . Dont think there will be problem getting 50% shareholder approval for disposal of travel as Kumar and Pavros almost there already , and should be then easy to mop up support to push through the 75% for leaving AIM and then Pavros takes it private , maybe offering shareholders the option of switching shares to the " new " company . All speculation of course , but some unhappy folks out there which is doing the reputation of the company no good , which might be another reason Pavros might want to move away . What is obvious is that Andrew Neil saw an iceberg looming and jumped ship , so he might be annoyed to see he is still listed as chairman on the co.investor website but then apart from the daily decline in the shareprice the site has not changed for months . |
Posted at 01/2/2011 15:29 by value viper An updated thread for investors both existing and new.Selling the loss making Travel Business and focusing on the profitable Events side. An improving economy will hopefully facilitate an improving share price ! Please DYOR naturally. |
Posted at 14/1/2011 13:30 by value viper could'nt resist a few more of these after looking again at mkt cap, revs, cash, investors etc and hopefully, slowly improving underlying conditions. |
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