Utilitywise Share Discussion Threads

[freddie ferret] 28/1/2019 16:51

There have long been a group of Trolls on advfn with a thing about Mr Woodford. I have never understood what their problem is. Perhaps they could enlighten me?

[mjones727] 28/1/2019 15:45

Never trust a Geordie

[still waiting] 28/1/2019 14:28

wouldn't be surprised to see this pre-packed without the bank debt and huge workforce..

a niche provider from one site with say 50-60 staff would seem more appropriate now..

[eipgam] 28/1/2019 14:16

The local rag's take:



To me, it looks like Geoff Thompson sold his shares when asked to take part in the £10m fund raise.

I have never been invested in this NE based business, but will note the lesson to be learned here.

[nick rubens] 28/1/2019 14:08

Why are we all surprised time and time again. What do we expect with AIM? The main market has it's fair share of rubbish but AIM is almost relentless in delivering nothing but investor losses.

Can't see many investors left with any money after observing the last few years of AIM companies behaviour, and the wise investors will likely keep away from AIM.

[bryall2] 28/1/2019 14:01

In other words they’re insolvent! Al.

[ochs] 28/1/2019 13:52

Also due to be suspended on 1 Feb as accounts can't be published unless they get equity funding/agreement with bank.

[still waiting] 28/1/2019 11:18

I can't think why anyone would stump up £10m for this to fund what is an unknown after the disaster that has went before..

[onjohn] 28/1/2019 09:26

WONT GO LOWER THAN 0P

[still waiting] 28/1/2019 09:18

what is the debt secured on?

if fund raising has failed what is keeping this up ?

[cockerhoop] 28/1/2019 09:12

Still Waiting,

CAKE's accounts were fraudulent therefore no real warning. UTW issues were there in plain view for many years.

[cockerhoop] 28/1/2019 09:11

It was clear from their ultra aggressive Revenue Recognition Policy many years ago that this was an accident waiting to happen. Scummy businesses such as this rarely have squeaky clean accounts.

[still waiting] 28/1/2019 09:11

looks like one big mess..

how they got so much borrowings secured on what ?

[energywatcher] 28/1/2019 09:04

Jonwig,Ha, maybe he has learnt from his mistakes then..... Sure as hell I wouldn't put one penny of my money into this.

I suspect that when the (sale process has failed) liquidator is going to find some pretty big holes.

The underlying issue here has always been a lack of control, allowing sales agents to significantly inflate energy consumption of sales.

This was in a culture where sales were hard to come by, sales targets were high, and management were quick to fire agents who missed target.

'The Energy Company' that they refer to was ENGIE, who did a relatively small amount if business with UTW. I shudder to think what the equivalent hole is at TGP.....

[jonwig] 28/1/2019 08:54

@ energywatcher - throwing good money after bad? Woodford has form there!

[energywatcher] 28/1/2019 08:49

I don't think it is a case of affording a further investment, rather, not wanting to throw good money after bad...

[pictureframe] 28/1/2019 08:27

Can't get funding away. Enough is enough.

[topvest] 28/1/2019 08:23

Yes, looks like it. Surprising that Woodford is not putting more money in / maybe can't afford to put £25m in. A sign that he is maybe having to start letting his losers fold.

[still waiting] 28/1/2019 07:07

As expected, looks like game over.

[ochs] 17/1/2019 11:11

Hi, yes I believe so - that's because it would then be more than 6 months since the company end of year (31/7/18).

[nocton] 15/1/2019 13:59

"I fear that like last year they may fail to publish them by 31 Jan and be suspended."
Is the 31 Jan date a critical regulatory one? Would the shares be automatically suspended if the results were not published?

[still waiting] 14/1/2019 11:50

facilities renewal will be the issue imho...

[ochs] 14/1/2019 11:44

So the announcement on Friday about the AGM date wasn't hugely encouraging about the delayed final results for year ending 31 July 2018. I fear that like last year they may fail to publish them by 31 Jan and be suspended. Hopefully they'll get them out before then - the RNS is perhaps intentionally vague on when the results will be out.

[knowing] 31/12/2018 00:36

No news can be good news. People realizing all the deramping was probably so someone could buy in cheaper. it worked and is now recovering.

[ochs] 28/12/2018 16:30

So not bust by Xmas as Diane Carberry seemed so certain of! Good to see the share price slowly starting to rise. However I'm not sure if it's a buy at the current price without so much as a peep from the company.