With the Henley office gone this takes WH Ireland to just £948m funds under management with only 7 investment managers & 2 financial advisers?! |
Wow that's a good deal for Verso |
Henley office gone with people and funds under management for less than 500k cost ten times that! The horror show continues. |
Improving small cap sentiment should underpin this figure….. |
Worsley topping up..? |
??? this is upside chief, not downside.... |
 Banana skin clearly signposted:
Estimate of contingent consideration
The sale of the CM business in July 2024 is on a contingent consideration basis to be paid in cash within 30 days of the first anniversary of Completion and is to be calculated by reference to the retainer and transaction revenue generated by the CM Division within the 12 months after Completion. This amount is to be the aggregate of 20% of the Retainer Fees, 30% of the Transaction Fees, 75% of the Market Making Equity Value and, subject to the Relevant Retainer Fees being equal to or greater than £2.75m, an amount equal to the Market Making Cash (£250k). Terms that are capitalised are defined in the relevant sale and purchase agreement dated 12 July 2024.
Based on the level of retainer and transaction revenue over the previous 12 month period, management has currently estimated this amount to be £2m. This has been recognised fully in the Consolidated statement of comprehensive income during the period and is subject to re-measurement following further assessment at 31 March 2025. |
Agreed it is only a shell now. The losses and the tragic decline continues. The interims are a fantasy including £2m credit for projected consideration not yet received from Zeus or actually yet defined! How does that work?? It confirms the board put both divisions up for sale in March last year - they just forgot to tell the shareholders at the time. Beyond belief. |
"whilst also assessing strategic opportunities for the Group as they arise."
He is a card! |
Looks like a nice reverse vehicle now........upside from Capital Markets into 25' if small cap rallies.... |
Missed that value investor Worsley was now on the register..... |
A game is afoot.......... |
Owns no shares Says it all |
A non holder but fascinated by this basket case. The ceo is a complete mug. He has failed in every job. Needs a sort out and quick I would say. |
And to cap it all the remaining WM division increased its losses substantially in the previous year so the board has decided not to sell it . This year there will be continuing losses and exceptional costs already incurred so half year results to end September will be awful again yet no mention of this. How long can an £11m turnover rump continue to pay its CEO nearly 400k pa for such performance no doubt a big payoff is on its way. Shareholders deserve better than this fiasco from the major shareholder Polygon |
So awful indeed especially when HL. CMCX and AJB are doing so well. |
On the 3rd of June ie two months after the year end in March the company issued a Trading Statement along with some details of the disposal. Why did the statement not refer to the horrendous loss of £5.9mn just announced?How can this obfuscation be allowed to continue?Does no one care about transparency any more? |
So results for year to March are in.They are so awful they are almost funny like a Blackadder script of every disaster you can think of . At least we are being given information previously withheld (why?) on the disastrous Harpenden acquisition the failed disposal costs the farcical terms of the Capital markets disposal terms the mythical £5m which is actually £1 and the changes in accouniotreatment whenever the board changes its mind within weeks on what is for sale. A total farce should not be a public company. Do not add to the sewage in our rivers please dispose of these accounts responsibly. |
Agreed but does the current share cap allow forA big losses for last year of circa 4.5mB Write down of assets on disposal of capital markets division circa 3mC Fees for disposal of capital markets division circa 750kD. Termination payments to Bisho etc etc 500kE not forgetting bonuses to directors as always for such a wonderful job presiding over the decline of what was a good companyWhen will the FCA and the Aim team and the Takeover Panel investigate the position this company finds itself in |
Agreed, it would be a clean cash shell eventually...?
Hugh Osmond with nearly 10% is particularly interesting.... |
Interesting that a small group of people have been buying large amounts of stock with no apparent reason to do so provided by the company publicly. Some people have a better crystal ball than others. |
Volume...........! |
Let us hope they can quietly sell off the other division, at least markets are helping..... |
In last two days over 20 percent of the shares have changed hands so no doubt there will be a statement soon? |
Volume..................! |
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