WIN Plc Share Discussion Threads

[value viper] 01/6/2009 17:21

Cash, sales, profitable and looking cheap. Are its days numbered as an independent ?
No Ramp intended and DYOR please.

[nickcduk] 01/6/2009 08:11

Think the shares are too cheap because of an overhang of stock. Trading around cash and a p/e of around 3. It won't last for too much longer considering the market has rallied pretty sharply and valuations elsewhere has risen markedly.

[value viper] 18/5/2009 09:20

leigh, surely they pay themselves enough - i find it very surprising down at these prices UNLESS there are "issues" with it re. imminent corporate activity !? NRI

[leighbarton] 13/5/2009 17:01

VV I suspect they have no money. Wasn't the last directors purchase done at +100p?

[value viper] 13/5/2009 15:27

not a bid situation now; could not directors buy just a few ?!

[value viper] 06/5/2009 08:37

grabbed a few more down here despite hideous spread

[leighbarton] 01/5/2009 20:37

I think that is what they were hoping from the outset.

[wjccghcc] 01/5/2009 18:02

The sooner they get taken over the better.

[leighbarton] 01/5/2009 17:24

This stock has always, even in its heydey, been very illiquid tightly held by institutions who themselves would probably like to forget they had invested here. Any selling pressure therefore never mind how small a volume will hit the price heavily. This share should probably never have listed and they certainly haven't done much with it since listing.

[goonertone] 01/5/2009 09:10

just looked at this as you were posting. Either I've got this completely wrong (wont be the first time) or a lack of buyers is causing whoever has been gradually offloading to crash the price.

MB at these levels wouldn't suprise me.

GT

[value viper] 01/5/2009 09:07

WTF ? now at what, cash levels ?

[goonertone] 26/3/2009 10:21

Their will be no wholesale return to investing in small caps until they decide to do something that makes market makers actually make a market. Either a guaranteed minimum market size in £ ie £2000 or guaranteed minimum spread preferrably both.

Who would invest here with the current spread at 20% and only able to buy 1000 shares at a time. yes you can get a better deal than that quote usually but not by a lot lately.

GT

[value viper] 25/3/2009 15:03

do we believe them when they say the so called bidder couldnt raise finance !?
quite convenient to say such things in the current environment. talk of insiders (being in the know) on here seems reasonable. the price falling away from the £1 to me was suggestive that the bid was wobbly. shame to see the stock so low. but being reminded of the director pay packages and lack of persoanl holdings, have to agree, it aint great. if this goes much lower guess it gets eaten at some stage. chart resembles so many others

[adam] 25/3/2009 11:31

who was/is the buyer? interesting to note they couldn't sell because buyer couldn't raise finance. you would think it would leave the door open for other - cash rich - candidates? on current gross margins, EBITDA, you would expect multiple of current price... yet no interest? are margins sustainable? I don't see any large director shareholdings. Rivers only holds 5k shares yet gets paid £150k plus benefits. Moir similar. Total directors' remuneration for 2007 FY was £583k yet combined they hold 460k shares (£276k worth).

[leighbarton] 25/3/2009 10:58

The company has made little progress financially since it first came to the market, however its mix of business is far more solid with less dependency on the flakey end of the premium rate market. What I find frustrating however is the lack of get up and go. It portrays itself as a very boring company in what should be an exciting industry.

The acquisitions have yet to prove themselves including the first made in Greece shortly after they floated!

[goonertone] 25/3/2009 08:32

As usual with WNN its information overload and you make of the accounts what you will. The slow down in the media side and the need for impairments will keep a lid on this for the next year.

With these offer talks out of the way the company can now concentrate on pushing the company forward. Their are two very profitable units and one that needs some work.

From a quick read it would seem that the small PI and the company to an extent has been adversley effected by the funds wanting an exit route found and forcing the company to try to sell itself. i think they have been privy to information that the small PI hasn't as the price action over the last week would infer that they knew the deal was a no go. That in my book is insider trading. I'm not saying the price wouldn't be here if they hadn't sold but it would have taken a slightly different direction and left them in the same boat as the small PI.

Anyway the comapny isn't going bust, is still paying a dividend, has cash in hand, has a buyer waiting if the credit market picks up and can now concentrate on getting the balance of the businesses right to unlock the huge potential in the managed and Enterprise divisions.

Disapointed but not suicidal.

GT

[leighbarton] 20/3/2009 14:57

GT I'd agree with your assessment unless there had been a major loss of business. Key is the speed of uptake of new services being able to counteract the decline of the SIMMs business with T-Mobile in the UK.

It is very disappointing to see a company that was first in market and a leader in its field to have apparently lost its was so badly.

[goonertone] 19/3/2009 11:02

Results out on 25th so at least we should be able to tell if it is a trading issue or whether it is purely poor liquidity combined with a forced seller.

Cant see the results being stellar but think they will be solid and no cause for long term concern.(that one may well come back to haunt me)

GT

[goonertone] 18/3/2009 12:22

Looks to be a few people being forced out at these levels for a significant loss. no change in news that I am aware off so is this yet another opportunity thrown up by the credit crunch or a warning off where we are going due to news not currently in the public domain?

GT

[8trader] 17/3/2009 20:00

There's your answer gooner, not sure if i held over 100k i would
do the same and sell 7500 if it canes the price such a large %,
would'nt they be better off selling the lot for 50p or working
a order to do so rather than sell less than 10% of their holding
which still hammers the price ?

[goonertone] 17/3/2009 13:09

Arden are on the offer 5p below anyone else. I think Arden are just dragging it down so they can offload the shares they picked up yesterday.
Seems non of the MM's in this market want to hold any stock for any length of time. Though you would think the house broker would try to keep this a bit more organised if it is simply a sale into an illiquid market.

GT

[leighbarton] 17/3/2009 12:27

Goonertone - saw the drop in share price and can't make out how this relates to the disclosure of sales. The share is incredibly illiquid, but even so this looks like a hell of a fall for such a small transaction. Does level 2 tell you anything?

[goonertone] 17/3/2009 08:25

Another piece of insider dealing or just completley illiquid?

The dealing in WIN stinks to high heaven at times. Is their a leak from head office ie insider trading or was yesterdays sale of 7500 at 70p when the spread was 80 to 90 just a sale into a pot with no buyers and now the mm's are trying to clear?

GT

Dont usually plug other companies but MUBL formerly AMU appears to have significant contract news out in the market that hasn't for some reason been issued as an RNS potential to get in early.

Apologies for off topic but in this market any edge helps.

[leighbarton] 05/2/2009 13:20

Evidence would suggest an overseas buyer, maybe from the emerging markets looking to buy in technology and a foothold in the most developed data services market?

Be very cautious on cash position. WIN in common with other aggregators get huge sums in from the operators that they then pay out to third party providers. Whilst third party business has tailored off, cash is very much determined on where they are in that cycle ie sitting on operator balances before paying out to third party providers. From the raw BS it is therefore very difficult to know whether or not they are generating more cash.

I agree the talks have taken far too long to sort out.

[goonertone] 03/2/2009 12:21

A case of to much info for the update I think. You can pick out bullish and bearish points but without knowing the underlyiong split of sales no way to weight them effectively.

A forecast would have been nice but I beleive that isn't possible without incurring further auditing costs due to them being in a takeover period. Spekaing of wich how long does it take to decide yes or no? Tell whoever it is to give them a final offer and say yes or no. If yes hopefully a good deal if no its out of the way and management can concentrate on building a more streamlined business.

GT