Utilitywise Share Discussion Threads

[eipgam] 18/9/2019 15:02

postscript:

[ochs] 29/3/2019 09:08

Thanks, crazy number of creditors and very high value too. All rather sad, lots of local businesses let down too.

[eipgam] 28/3/2019 18:09

small EIC comment in article

[michb] 20/3/2019 20:39

Now that Utilitywise has been delisted, can someone explains what happens to EIC in all this? Utilitywise bought Eic for 15.5 mil and is profitable. Have the old directors got this company back for nothing, with shareholders missing out on what eic is worth?

[freddie ferret] 18/3/2019 17:10

One I got out of. Bit sad though.

[kizzbop] 04/3/2019 12:01

Advice would be for any customers here to take legal advice and check their bills for uplift/margins charged. BF set up a department with capped uplifts, with a view the company would ‘land grab’ as many clients as possible and sell a portfolio of products. This didn’t work as he moved the sales people with the worst results, removed bonus incentives and expected them to perform to unrealistic targets. Secondly he and his marketing/product development expert failed to find anything else viable that could be sold. After spending a rumoured £3m on the failed transformation project, paying a number of key ‘buddies’; at director level over £150k a year and spending nearly a £1 million on the failed water marketing campaign he then seemed to realise the company was desperate for revenue and reputedly signed off a number of deals that would favour UTW coffers in the extreme and be detrimental to the customers business. Rumour - January, signed off a meter consuming 48k, at 1.6 gig, the deal should have been worth £5k and was signed off at over £177k... now that company owner should be speaking to their legal team?

[sphere25] 14/2/2019 14:56

Geoff Thompson....well well well!

-----------------------------------------------------------------------------------
Sphere25 - 13 Dec 2017 - 18:40:58 - 3165 of 3608 Utilitywise - UTW
The smartest guy in the room has jumped ship. He was akin to a conman really, overstated the revenues and gave investors a flawed rosy picture of the fundamentals and prospects, and then BANG!....all the accounting nasties start crawling out of the woodwork.

The conman is fine though as he has dumped millions at significantly higher prices (whilst that rosy image of the company was out there), leaving investors floundering with substantial losses, the stock teetering at multi-year lows, and quite possibly on the peripheric (depending on what news comes out in due course).

Watch out for Geoff Thompson in future!

Blacklist!

All imo

No position here.

[d1nga] 13/2/2019 21:21

Thompson was brought up on the same council estate as I was.
He's played a blinder here.
Commiserations to all holders.

[mjones727] 13/2/2019 19:30

Told u months ago this was bust

[cockerhoop] 13/2/2019 18:45

Fat Lady bursts into song!



Sorry for holders but the writing was on the wall for several years.

[mjones727] 12/2/2019 19:11

any proposal accepted would mean massive dilution to shareholders. The shares would be more or less worthless.

[ochs] 12/2/2019 19:03

He certainly could... but in the report it suggests he's put a proposal to the company (not to administrators), so there may still be a glimmer of hope.

[mjones727] 12/2/2019 18:49

Thompson will get the assets off the administrators for washers.

[ochs] 12/2/2019 18:46

Thanks for keeping us updated... that's interesting and surprising (especially in view of Thompson selling all his shares fairly recently).

[eipgam] 06/2/2019 13:44

News from thelocal rag a few minutes ago:

[ochs] 01/2/2019 15:39

Thanks for explaining daffy, that makes much more sense now. So Woodford owns 29.9% but even he wouldn't put more in for a placing - so yes it is all pretty dire as with other stocks in trouble recently he has done!

[daffyjones] 01/2/2019 12:34

Ochs - that's a form 8.3 indicating what people already own, not a notification of a new purchase. Because the company has announced it is putting itself on sale, all significant shareholders a(holding over 1%) have to declare their current ownership of the company on a form 8.3 within ten days of the announcement.

Woodford has submitted his 8.3 too, showing he owns 29.9% of the company. Shocking that he refused to sell down at any point over the last two years, despite all the warning signs. Now he's lost over 99% of his investment, and the shares have been suspended today due to the non-publication of the annual report and accounts. Only bagholders were still holding this dross.

[ochs] 31/1/2019 16:10

So according to latest RNS Neil Utley jumped in and bought 2m shares on 30 Jan and now owns 2.55%. Be interesting to see if he's added to his holding today - perhaps he's aiming for 10% before suspension? Seems strange, but perhaps he has a plan? I assume it's this man

[freddie ferret] 29/1/2019 17:27

Classic dead cat today.
Woodford is into TERN I believe.

[still waiting] 29/1/2019 10:28

how much have woodford invested in this ?

[cockerhoop] 28/1/2019 23:02

Freddie,

I certainly don't have a problem with Neil Woodford but when I was on this board several years ago (SP circa £3) suggesting that the ultra aggressive revenue recognition policies were a massive concern investors on here pointed to Neil upping his stake and bigging up his comprehensive due diligence. His reputation certainly isn't what it once was.

[its the oxman] 28/1/2019 22:24

No value here, run for the hills while you still can.......

[millennial] 28/1/2019 17:22

allstar4eva
Dilution is dilution. We'll see what they have lined up for the cash but this may see 75p again in the short term...



lol ok