Wolseley Share Discussion Threads

[paul_bennett] 14/1/2010 09:26

mallorca 9 - 13 Jan'10 - 15:12 - 200 of 204


Im short at £14.24 Jacko

....................................

Oh Dear
Egg on the face

[5jacko] 14/1/2010 08:48

lets wait for the fall again today

[5jacko] 13/1/2010 17:27

profits down, and rough times ahead is what the last report says...The share gives the illussion that it is going up, then falls again..

[mallorca 9] 13/1/2010 15:39

Just need this cold snap to end then follow it all the way down with trailing stop.

[5jacko] 13/1/2010 15:27

Not with you on GKP! But here- after reading the reports etc (cleverly worded) this is looking south. Short open!

[mallorca 9] 13/1/2010 15:12

Im short at £14.24 Jacko

Between now and the summer I can see this hitting £10 or less.

[5jacko] 13/1/2010 14:55

looks like it could take over as the prize short on the market M9

[mallorca 9] 13/1/2010 11:11

Looks very much like a retrace to £12

[mallorca 9] 13/1/2010 10:41

The recent rises will thaw with the snow !

[mallorca 9] 13/1/2010 10:40

I wonder if people here realise how much trouble this Company is in.
If you read the recent reports then there is every chance that this company could go under.
The recent sale is not stategic but rather a desperate measure to pay back some debt.

The Naked Trader has it as a short from £13 !

[sleepy] 09/1/2010 11:34

Wolseley announces disposal of Irish businesses

Wolseley announced today that it has agreed to dispose of 100% of its shareholding in Wolseley Ireland Holdings Limited (WIHL) to WIBHM Limited, a private investor backed company, for total consideration of €26.5 million (£23.8 million). Cash consideration of €6.5 million (£5.8 million) was paid on completion. The balance of €20 million (£18 million) will be satisfied through a loan note issued in favour of Wolseley at a coupon of 10%, to be repaid within one year. Under the terms of the agreement, Wolseley has agreed to fund the deficit in the Northern Ireland pension scheme (currently estimated to be €5.5 million (£4.9 million)), and this will be repaid by the purchaser by means of a separate loan note with a coupon of 3%. Repayments under this loan note will start at the end of its second year, at a rate of €1.5 million (£1.3 million) per annum. The balance of any deficit still remaining in the fifth year will be repaid in full. Both loan notes are secured in full on WIHL freehold property assets in Ireland.

WIHL comprises the Company's entire interest in the Republic of Ireland including the Heat Merchants, Brooks, Tubs and Tiles and Encon Ireland trading brands and also includes the Brooks business in Northern Ireland. The combined businesses operate through a network of 67 branches and approximately 650 employees.

Wolseley is disposing of the businesses in line with its strategy of focusing its activities where we have built sufficient scale, established leading market positions and can deliver an appropriate financial return. In the year ended 31 July 2009, the businesses had combined sales of €237 million (£204 million) and underlying operating losses of €34 million (£30 million). On a pro forma basis, sales for the 5 months ended 31 December 2009 were €75 million (£67 million) and underlying operating losses were €5 million (£4.6 million). Net assets at completion are estimated at €73 million (£66 million) and the exceptional pre tax loss on disposal, excluding any recycling of currency translation from reserves arising from the transaction is estimated to be around €55 million (£50 million).

Commenting on the disposal, Ian Meakins, chief executive of Wolseley, said:

"I am confident that the transaction we have concluded with WIBHM Limited represents a good outcome for Wolseley's shareholders. It will also enable us to bring an even greater degree of focus on driving performance improvement in our core UK businesses."

[dr darkstar] 07/1/2010 08:25

good rise over the past few days.. is there a good reason for this?

[royalt] 26/11/2009 14:51

Getting a bit of a hammering today I see.

[royalt] 24/11/2009 19:57

Some wild swings going on before the final spike down. Wonder whats going on...

[mallorca 9] 23/11/2009 09:59

Volsung,

yes definately.

[volsung] 02/11/2009 13:01

Probably seahorseleisure

[seahorseleisure] 02/11/2009 12:51

It would appear that it is, you can't trade on IG unless you call them so either there are excessive long positions or excessive short positions, my guess would be the latter!

[volsung] 02/11/2009 11:48

Is this a short? That is the question?

[mo123] 28/9/2009 11:18

That's why the share price rocketed as some peeps pay a big premium of 1450p and look forward to the dividend.

[sleepy] 28/9/2009 10:59

Dondee - there's no dividend

[dondee] 28/9/2009 10:24

No comment on here for ages.

Am I right in thinking that the dividend is going 'ex' at start of October.