Wagon Share Discussion Threads

[topdoc] 18/7/2008 16:47

does not look like rights are going to be taken up atleast by pi now that price well below 4p. i wonder whether this is what the big boys had planned anyway.

[holts] 18/7/2008 13:16

I have preference shares , but have been allocated some new ordinary, is there an attempted dilution of the preference shares as well ?

[bipos] 18/7/2008 13:10

could anyone explain that the turnover of traded share over the last few weeks
of sales & purchases below 4p, where did the sales of shares come from,
they could or should of sold befor ex-rights above 4p if they were geting out
not below 4p on large volume.

[hybrid07] 18/7/2008 11:44

From Yahoo bb

....... it's just been tipped by Fat Prophets

Wagon
The past few years have been very much a downhill journey for auto components manufacturer Wagon. Recently, sentiment has reached bearish extremes following management's gloomy $%^&sment of current year trading conditions, and plans for a deeply dilutive rights issue. Whilst we do not dispute the challenges faced, we believe there are causes for optimism, certainly more than the market is ascribing currently.

OMG (:()-|--

[deanroberthunt] 18/7/2008 06:48

why would you take up the rights when you can buy as many as you like for 3.4p

[hybrid07] 16/7/2008 11:49

TDW showed 0.21p in my portfolio valuation, which is quoted as the "mid price". I agree I could not have sold them for that - it would have been 0.1p as you suggest.

As you say Davius, if the WAGN shares move over 4p we can make serious money, although that's probably not likely to happen. So we're back to deciding whether to take up rights

[davius] 16/7/2008 10:12

WAG quoted 0.01-0.1p this morning. If the WAGN share price were to move above 4p (now 3.25-3.9p) then they'd rocket of course, but it doesn't look likely to happen, at least until 'nil paid' become 'full paid'.

[napoleon 14th] 16/7/2008 10:09

WCWB credited mine & 200,000 are "worth" £200, LOL.
Don't expect anything serious until they're fully paid shares.

[davius] 15/7/2008 21:53

You sure about that hybrid? When I checked TDW the WAG shares (nil paid) were quoted as 0.01-0.19p, meaning you can get 1p per hundred shares.

[hybrid07] 14/7/2008 15:37

The nil paids are now worth 0.21p according to TDW. I'm losing 2K on the stock but making 8K on the rights. Could be a spectacular investment

Edit: In retrospect buying below 4p BEFORE the ex-rights date was an amazingly good deal

[napoleon 14th] 12/7/2008 22:23

P.S. Selftrade value my nil paid rights at £10 for 100,000 shares,
if that's any use..........

No?

I thought not!

Wait for the action once the deal is done & dusted...

[napoleon 14th] 12/7/2008 22:22

Selftrade contacted me today to ask how many, if any, new shares I want.

In view of the backing this issue is getting, thru' Mr Ross, I'm taking them all.
Too late to back out of this "double or quits" game.

No rights = virtual annihilation thru' dilution.

"No representation without contribution" as the American would say.......

[hybrid07] 11/7/2008 13:06

TDW told me to look after 12 pm at eStatements - Corporate Actions

Nothing there yet

Edit 5 pm: now the Corporate action has appeared also the nil-paid shares are in my portfolio

[antondickson] 11/7/2008 12:59

i hold these in a td waterhouse account at what point can i take up the rights to buy more shares, it seems to be taking ages.

[hybrid07] 11/7/2008 11:54

TDwaterhouse told me 0.02p this morning

[time to share] 11/7/2008 11:06

Not sure, but in my account they have a "value of 0.02p each".
There is no epic showing for them so if anyone knows the code could they post it on here.
Usually for a nil paid you would just add an "n" to the end of the shares epic upto 4 letters, replacing the origanal 4th if need be, but not with this one. Are they trading yet?

[bipos] 11/7/2008 08:19

what price the nil shares? trading at.

[hybrid07] 09/7/2008 16:07

IMO the delays are almost certainly due to private investors complaining that the rights issue is unfair because they can't afford to take up their rights.

Mr Ross is unlikely to pull out because he probably has caused the problems in the first place by demanding the 10 for 1 RI ratio

[topdoc] 09/7/2008 13:20

What sort of problems did you have in mind? Like Mr Ross pulling out?

[deanroberthunt] 09/7/2008 10:53

delays only ever mean one thing......problems

its never good news, be assured.

[hybrid07] 08/7/2008 19:03

Has everyone seen this?

Wagon plc


Update on delay to commencement of dealings in Rights Issue Shares (nil paid)


On 3 July 2008 Wagon plc ("the Company") announced that the Underwriters had agreed to extend the date by which the Underwriting Agreement required Admission to have occurred to 8 July 2008 in order to give the Company additional time to finalise the conditions precedent to the Rights Issue.


There are a small number of procedural matters that need to be completed before the conditions precedent can be satisfied. However, the Company is confident that the conditions precedent will be satisfied shortly and that dealings on the London Stock Exchange in the Rights Issue Shares, nil paid, will commence on or before 11 July 2008. To accommodate this, the Underwriters have agreed to extend the date by which the Underwriting Agreement requires Admission to have occurred to 8.00 a.m. on 11 July 2008 (subject to any further extension agreed between the Underwriters and the Company).


The Company expects to be able to issue a further announcement containing a revised timetable for the Rights Issue shortly.


ENDS

[bench2] 07/7/2008 10:56

Hopefully we don't have a Brad&Bing situation and the US based Mr Ross has got cold feet and backs out via a technicality. MM's not keen to offer or bid for stock now , all very confusing.

[time to share] 03/7/2008 12:09

The shares are now ex rights and the nil paid should have started trading yesterday, but with the latest press release...who knows whats gonna happen now.
The rights issue is/was fully underwritten so Wagon should still get their £49m although im not sure how many, if any, private investors will be taking up their rights considering the share price over the past few days.

All we can do is wait and see what the next news will be regarding the R.I.

[exile] 03/7/2008 07:46

topvest.. Lets all look on the bright side of life... la la...la la ...la la...la la