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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Watchstone Group Plc | WTG | Aquis Stock Exchange | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade | |
|---|---|---|---|---|
| 0.00 | 0.00% | 3.00 | 16:29:54 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 3.00 | 2.02 | 3.50 | 3.00 | 3.00 |
| Top Posts |
|---|
Posted at 26/7/2017 21:09 by ettienne1951 A question was asked: "How strong a case do people think SGH has after all its due diligence? Caveat emptor and all that."I don't think any private investor can answer that since they aren't privy to the evidence to be presented and argued in court. Any other response would be just speculation. Personally, I wouldn't categorise events that must have led the WTG board to fully impair the escrow balance as "mere bluster" as the questioner put it. There again, I don't have a financial interest in the outcome. Having once been a small PI in QPP years ago, my interest in the outcome is simply to learn from the court transcript of the actual events surrounding the PSD sale, and what led to the claim succeeding or failing as the case may be. Time will tell. |
Posted at 03/7/2017 12:15 by stud-muffin As galling as it is Winfrith was bang on the money with QPP.Total house of cards. Without SGH it would have long gone along with all the shareholders money. That SGH were so blind as to not see it for the blatant fraud it has proven to be is a mystery but as a holder at the time I am very grateful. Rob Terry should be in jail - in the USA he would probably get twenty years but in the UK ripping of investors is pretty much the approved game so probably nothing. A court needs to determine what WTG owe SGH - the shareholders from QPP owe them whatever money they retain/made in this sorry saga. |
Posted at 19/4/2017 00:39 by bbmsionlypostafter Slater & Gordon restructure almost done; G+T, AlixPartners hiredSlater & Gordon shareholders should expect to lose 95 per cent of the company's equity to its hedge fund lenders. That's the reality facing the debt-ridden law firm's investors as part of a restructure proposal before the board. It's hard to see how the Slater & Gordon story will end any other way. The law firm will emerge with a clean slate and will be able to focus, once again, on what made it a market darling. That means a largely Australian-focused business with parts of the United Kingdom operations to be shut down.... |
Posted at 18/3/2017 10:27 by geoffreen From Citywire's resume of this morning's press (from the FT):The main lenders to Slater & Gordon, the struggling Australian law firm with operations in the UK, have sold 94% of their loans at heavy losses to a consortium of distressed debt investors that plans to restructure the business. |
Posted at 26/2/2017 12:59 by rogthepodge AndyIf you read my posts you would note how many times I have made clear that I know nothing about CTAG, and care even less. I was on that thread to highlight the modus operandi of a certain blogger. I have always taken the view that a bad company will go down, without concerted high-volume blogging and deployment of numerous false aliases. A certain person has come to believe that the word 'fraud' is a quick route to profit, and that the more frequently you say it about more and more companies, the quicker the profits arrive. In my opinion. I don't know how people who cynically try to dupe small investors, can sleep at night. |
Posted at 12/10/2016 22:30 by rogthepodge " A separate class action is likely to be pursued by ACA Lawyers, with the firm saying it was shoring up a case that would seek to recompense affected investors through a longer period than the class action pursued by Maurice Blackburn. "I think that any thinking person will be able to see what is happening here. Bluster from a competitor, trying to cause as much damage as possible? These group actions are old news. |
Posted at 12/10/2016 09:27 by ionlypostafterbbms Oh dear, more trouble for SGH & it's mug shareholders."Listed law firm Slater & Gordon is facing a class action that is $100 million bigger than its market cap, but it is unlikely to drive the law firm to insolvency, says Maurice Blackburn." On Wednesday, Maurice Blackburn filed a $250 million class action on behalf of more than 3000 shareholders, including over 80 institutional investors and super funds. The action is backed by litigation funder International Litigation Partners." "The reality is that the business was a basket case before the class action and after the class action," he said of Vocation. |
Posted at 03/9/2016 16:45 by rogthepodge You are a joy Tom, it's so easy to rattle your cage and induce rage.Re: QPP and SGH, "we like bad days because we are long term investors" LOL I am quite sanguine. I can afford to wait. It simply annoys me that you think that alleging fraud right left and centre is a quick and easy way to short-selling profits. Especially when you believe yourself to be immune from civil proceedings. |
Posted at 26/5/2016 16:18 by henchard Meanwhile, turning to the financials, what is the potential upside for investors buying in today?On 9 November WTG said: "Following the Return of Capital, in addition to its operating businesses, the Company expects to retain approximately £90 million in cash. The Group has a further £55 million held in escrow accounts relating to the Disposal and the Company retains rights to contingent consideration estimated to have a current value of approximately £39.6 million." Per the WTG website: Current total shares in issue 46,038,333 as at 04 May 2016. So, £90m retained cash = 195p a share. £55m in escrow = 119p a share. £39.6m current value of NIHL cash from SGH = 86p a share. Total = 400p a share. Current share price: 223p. Upside on this basis close to 80% with no value for the retained (loss-making) businesses. I reckon WTG will get the £55m (119p a share) in escrow. S&G screwed up on their DD; their own fault. So, what is the current retained cash? How much cash have the retained loss-making businesses lost? What have been the cash corporate costs since November? What have been the legal costs? Has WTG settled any My Legal Friend shareholder claims or booked them as provisions or contingent liabilities? I would say all these things are big unknowns. As a potential investor, I'd be happy to work on the basis of current retained cash available for distribution of £60m (130p a share). So, + escrow cash = c. 250p a share (upside 12% from current share price). Then the thorny problem of NIHL cash from SGH ... Arghh, low battery ... but numbers above may be some basis for serious discussion of the financials, and current value ... |
Posted at 24/5/2016 01:31 by solanki2000 Lol classic Terry comment. Remember Nicky said he wasn't a fan of him. I guess he was talking about himself when it said 'small investors don't either' sad thing for Nicky was all the other investors did, knew it was worthless |
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