Trackwise Designs Share Discussion Threads

[ifaze] 22/1/2024 23:42

Painful indeed, but don't invest what you can't afford to lose. I suspect I lost far more than you did.
But it's not just P.I.s - I have sympathy for Phillip Johnson who has lost more than any of us on this site. Some things just don't go to plan and it's a pity he didn't accept far greater dilution with the first capital raise for the new factory and raised sufficient cash when they could.
Hey ho

[az2517] 22/1/2024 17:47

Thanks very much for the insight.So probably best to just treat it as a painful lesson learned.So TWD bosses just wrecked it to the ground and the PIs take the hit.

[ifaze] 22/1/2024 13:56

Don't think you will find a buyer for your shares!
Even if you could sell, the pt at which you transfer out of the ISA is when they enter the CGT world. At that date Trackwise have to be valued at just about zero (or is that actually zero). If a miracle occurred and they subsequently became worth something, then you would actually have a capital gain - even though you probably lost loads whilst they were in the ISA.
That's the one problem with ISAs - no CGT losses if things go pear shaped.

[az2517] 22/1/2024 13:30

I was asked by AJ Bell to move the shares from my ISA to trading account, back in September when the twd was kicked out of AIM.My question from expert pals here is:Am I able to sell the shares in order to reclaim the loss on my tax?Any help and advice is highly appreciated.Cheers

[cliffpeat] 21/11/2023 11:54

See Administrator filings.

TWD shares are valueless.



Trackwise News
As of 31st October 2023, Trackwise is now Amphenol Trackwise Designs Limited (a private limited company registered in England and Wales with registered number 15231302; registered office at Thanet Way, Tankerton, Whitstable, Kent, United Kingdom, CT5 3JF), part of the Amphenol Harsh Environment Division – strengthening the overall Amphenol PCB and FPC capabilities of Amphenol Sincere, Amphenol Invotec and Amphenol Printed Circuits."

[weliveliketrumpatstonehouse] 16/9/2023 09:52

What happened then goffer. You guys still going?? Johnson and Cook running it yet and on your wage bill ha ha. One of my ex colleagues said you are in administration about to be purchased though. I say purchased, I mean someone is accepting the debt. Either way if true good news and you guys get some security.

[weliveliketrumpatstonehouse] 31/8/2023 19:00

We were told the same goffer. He also was responsible for making the external sales team leave. 5 of them in less than a year. As you were up for sale I don't think owners here could be bothered to get shot of him and get someone in who could do the job.

Goffer as long as he doesn't buy it you'll be OK. The new owners will come in and see how incompetent he is.

[sclgoffer] 31/8/2023 16:49

Mr Bukeke, not a team player, no inter action with production staff etc.

[weliveliketrumpatstonehouse] 31/8/2023 15:09

Mr Cook you mean or Mr Bukeke?? Quite a few muppets there was the impression we were given. Pretty ironic hey. Reckon trackwise will go into liquidation soon. Hopefully you guys get a buyer soon and they get rid of the MD and Cook. That would be good for SPIRIT.

[sclgoffer] 30/8/2023 19:14

Yes we are all still here at SCL working our socks off, never had any administrators running around here 🤞.
Good luck in seeking new employment. We still need to get rid of our TW puppet some how, hopefully any new buyer will do this.

[weliveliketrumpatstonehouse] 30/8/2023 13:39

Goffer you still about??? Are the administrators running it yet and controlling who gets pain like at trackwise. We are all gone at new plant and it's locked up by looks of it as I drove past the other day. There's a couple left in at Tewkesbury finishing last job I suppose. After that who knows. Anyway off for an interview. This bloke got an idea about really long flex. Sounds good I reckon. Keep smiling and good luck. At least you don't have Mr Johnson and Mr Cook anymore. Phew!!!!!

[weliveliketrumpatstonehouse] 23/8/2023 14:04

Goffer.

Great you guys are continuing but we can't understand how Stevenage are not in administration. Makes no sense at all. It's part of group and a subsiduary of which they have been managing. I've got friends that work at a close pcb shop and the industry rumours not good about you guys. Hopefully you can get a buyer and not end us like us mate. Good luck

[weliveliketrumpatstonehouse] 23/8/2023 14:00

Sclgoffer. We all thought the same about wages.. Mr Johnson and Mr Cook had half a million out a year. How can that be. Must of been on borrowed money as we were not making that much to cover that. I would imagine goffer The cook dissappears when it's sold.

[ales dange] 23/8/2023 13:54

So SCLgoffer, what you are saying is that Stevenage is being run by the administrators too?
Plus if Paul Cook is on-site most weeks as you say, then the Stevenage business is most definitely linked and you are also in administration? Very very interesting.

[sclgoffer] 22/8/2023 17:18

Yes , we have had offers, but these have been turned down by the administrators, so the process is still ongoing.
We are seeing Paul Crook most weeks on-site, would be interesting to know who’s paying him.
We are still fully working thanks.

[weliveliketrumpatstonehouse] 22/8/2023 09:11

Right.
Trackwise, any takers or are they selling off the assets to get whatever they can to appease banks. Then Mr Johnson and Mr Cook slip into the darkness unscathed. They will be OK I'm sure. Probably millionaires.

Stevenage, any genuine offers? Nah didn't think so. Mr bukeke and his team not convinced anyone yet then.

[weliveliketrumpatstonehouse] 03/8/2023 12:00

That doesn't sound good for Stevenage then Ales.

This is exactly how it is which means Stevenage will be caught up in it.

More workers to lose jobs then and equipment to be sold off for practically nothing.

[ales dange] 03/8/2023 10:43

It’s very early here gentlemen, but to add to this mess.
The insolvency act 1986 permits the court to lift the corporate veil if it can be proven that the parent company actively participated in the management of the subsidiary, effectively acting as a shadow director of the subsidiary. By lifting the veil the subsidiary may be deemed an extension of the parent company, because the board and management of the subsidiary failed to maintain independence from the parent. This subjects the subsidiary’s assets to inclusion in any legal settlement ordered by the court. In order to realise any return for stakeholders the best solution is for a totally independent administrator to be appointed and a review of the assets of the Stevenage site to determine the best financial solution is met. If that is by way of sale, or selling the Stevenage equipment, then so be it.

[weliveliketrumpatstonehouse] 03/8/2023 10:23

Bagpuss.
I can totally see this. Just like if Stevenage is sold. That money will go back to the Trackwise pot as they own it. On companies house it's listed as Mr Johnson and Mr Cook.
Maybe the retirement fund.

[ohdearohdearohdear] 03/8/2023 09:23

What could the current twd directors add to any Company? The equipment will get sold off....so maybe 1 or 2 of the folk who know how to operate/service the machinery will get snapped up....but who would snap up any of the directors?

As for SCL....it is just a bog standard pcb manufacturer. There are many better, faster, cheaper, even here in the UK, let alone the rest of the world. There are bidders....but the only way it would make sense for another pcb manufacturer to buy is economies of scale. This invariably means job losses unfortunately ..either at SCL or the parent.

[bagpuss67] 03/8/2023 08:31

Bet current TWL management stay in place and get shares to keep them motivated and so as ever it's the PI that takes the hit...

[weliveliketrumpatstonehouse] 03/8/2023 07:02

Great news goffer. From what they said here you guys you let 5-10 people so still have plenty of staff for recovery. Great news on new owners and new work also. At least something good will come out of this debacle

[bagpuss67] 03/8/2023 06:19

That's the tragedy for shareholders. The business and IP may still work out. Just under new ownership. Shocking management and value destruction for shareholders...

[sclgoffer] 03/8/2023 04:19

We are still very busy producing PCB’s & our output is going to increase with new orders coming on line.