Watchstone Share Discussion Threads

[bbonsall] 30/11/2016 08:22

Funkmaster
They used £10 million between last Dec 31 and May 20 this year. So the latest cash burn of £10 million in 6 months is slower. Good news perhaps?

[kendonagasaki] 30/11/2016 08:12

Up to no good again here?Caution advised!

[funkmasterp12] 30/11/2016 07:26

So WTG has spent £10m in 6 months - on what, exactly?!

[rogthepodge] 29/11/2016 23:34

excellent news for SGH holders

less good news for WTG

but if SGH pulls in the cash anyway, it should all come out in the wash

[ionlypostafterbbms] 29/11/2016 23:18

Uh-oh.


ASX Announcement

Slater and Gordon Limited. ABN 93 097 297 400
30 November 2016

Market update:

£50 million of purchase price paid to Watchstone Group Plc will remain in escrow until notified claims resolved.

Further to its announcement on 19 September 2016, Slater and Gordon Limited (ASX: SGH) advises claims notified by it and Slater and Gordon (UK) 1 Ltd (SGH UK) to Watchstone Group Plc (formerly Quindell Plc) (Watchstone) have not yet been resolved between the parties.

The process set out in the Share Purchase Agreement required SGH UK to obtain a positive merits based opinion of its claims from an independent barrister.
Having now satisfied that requirement, the £50 million currently held in escrow against warranty claims that may arise under the Share Purchase Agreement, will continue to be held in escrow until such time as claims notified under that agreement are resolved.

ENDS

[lydnem] 29/11/2016 16:35

Its all very quiet

[rogthepodge] 07/11/2016 17:54

good point netflix2016

sorry

[netflix2016] 07/11/2016 17:06

This WTG not SGH! They acquired certain operations of ours and that is history now!

[rogthepodge] 07/11/2016 16:51

This was announced last Friday, at the AGM. As usual, you are 'behind the curve'

Good news in my view. Consolidation and rationalisation of the UK businesses. SGH
will succeed because if its operational efficiencies.

Please try to understand the model, and don't swallow all the nonsense your short-trading friends feed you?

[ionlypostafterbbms] 07/11/2016 16:34

Slater & Gordon boss confirms more UK closures on the horizon

By Kathryn Higgins
07 November 2016 at 14:59 BST

[rogthepodge] 07/11/2016 11:32

what are the mysterious 'sources'? LOL

In my opinion AFR is 'doing a job' on SGH in the same way that share price and Alphaville did.

I trust that there are no links between these publications, and shorting interests.

[ionlypostafterbbms] 07/11/2016 08:59

Uh oh. Citigroup reads the writing on the wall & come to the conclusion 38cents is better than nothing.

Slater & Gordon debt trades at 38 cents in the dollar: sources

[rogthepodge] 04/11/2016 18:04

ditto, the companies you short

0p by last June

bwahahahaha!

[ionlypostafterbbms] 04/11/2016 17:42

It really is mindblowing how ignorant you are of the companies you gamble on.

[ionlypostafterbbms] 04/11/2016 12:39

Unbelievable nerve to award yourselves bonuses when you have beggared PI LTHs.



Shareholder revolt against Slater and Gordon bonuses

[rogthepodge] 04/11/2016 11:48

I listened to it live last night Tom, so no need to cut and paste

my view of SGH remains the same

it is the new Redde in my view

but Redde 3 years ago

Evil Knievil did a job on that company too, and look how strongly it came back

[rogthepodge] 03/11/2016 15:08

Redde, a great Woodford stock

he owns getting on for 29% and so does his successor at Fidelity. Between them they have over 50% I believe. Can't remember the exact figures. DYOR.

[rogthepodge] 03/11/2016 14:41

Redde's (Redd) recent performance, in RNS statement from Chair today:

"The 3 year transformation of the business into a cash generative, diversified
and bank debt free business since the placing at 25p, announced on 28 February
2013, has seen the market capitalisation of the company increasing by over
1,200% with a total Shareholder Return of over 500%. The return of cash through
regular dividends has also seen £72.7m paid out since the shareholder backed
restructure in February 2013.

The management team has worked diligently to bring about this progress and
under the current strategy has positioned the Group to take on more growth
opportunities. Feedback from our long term shareholders indicates that they are
very pleased with these outcomes."

SGH could well be in same position today, that Redde was in three years ago

compare the business models, very similar

legal services and credit hire

seem to be a winning combination in an era of consolidation, imposed by regulatory change

[rogthepodge] 03/11/2016 13:46

should read 'IOnlyPostBecauseIamaM'

[ionlypostafterbbms] 01/11/2016 14:03

I guess they now find themselves in the same boat as all the other long term holders, underwater & averaging down.

[geoffreen] 01/11/2016 11:14

Beach Point up to 12.04%.