Share Name Share Symbol Market Type Share ISIN Share Description
Watchstone Group Plc LSE:WTG London Ordinary Share GB00BYNBFN51 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  1.20 1.48% 82.20 374,018 16:35:19
Bid Price Offer Price High Price Low Price Open Price
80.40 84.00 0.00 0.00 0.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Software & Computer Services 7.34 -6.63 67.10 1.2 38
Last Trade Time Trade Type Trade Size Trade Price Currency
15:26:22 O 175,530 82.00 GBX

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Watchstone Daily Update: Watchstone Group Plc is listed in the Software & Computer Services sector of the London Stock Exchange with ticker WTG. The last closing price for Watchstone was 81p.
Watchstone Group Plc has a 4 week average price of 73.80p and a 12 week average price of 73.80p.
The 1 year high share price is 182.50p while the 1 year low share price is currently 65p.
There are currently 45,822,708 shares in issue and the average daily traded volume is 28,798 shares. The market capitalisation of Watchstone Group Plc is £37,666,265.98.
rumandcoke: Any news on Watchstone's latest very expensive challenge to RT? I guess we would have heard if they had won so my guess is another failed attempt by the incompetent management team led by Rose Borsan and Williams who have achieved nothing appointed an expensive but hopeless CEO in Mukerjee, sold the technology and other subsidiaries too cheaply! Allowed the management team of Ingenie to walk out the door after paying them large consulting fees and start up in competition whilst lining their pockets with big salaries and let the share price fall. What has been allowed to happen post RT may prove to be as bad as anything that may have happened before. Let's hope they pull their fingers out when the Slaters case hits the court room! Borsan was company secretary when that deal happened so he should know what he is doing and he can't blame RT for that one!
dalesiders: Slater & Gordon to avoid insolvency after shareholders accept hedge fund takeover Print This Post By Legal Futures 6 December 2017 ..........................Though existing shareholders will see their stock heavily diluted – they will be consolidated on a 100:1 basis and in total will own just 5% of the company – they were told that the alternative was insolvency. ...........................Slater & Gordon’s share price – which was nearly A$8 in March 2015 – rose 13% to 4.3c on the news of the AGM. Not quite 0c NickyNoBrains but hardly your finest investment
grahamg8: Agree with you lorentz and apologies to everyone. The H1 report doesn't say if the NAV includes the escrow money or not. But the cash figure excludes the escrow money. And on checking the financial statements the current assets exclude the escrow. So NAV at 30 June was 143p and if successful in defending the S&G claim add another 109ppm. Lots of litigation and no doubt some pretty wild swings in share price. Just like the good old days of Quindell.
rogthepodge: So good news for WTG then, Sweetkarolina. SGH share price hasn't shifted on this announcement.
cheek212: It's quite clearly set out on the WTG website - you just need to do some research and it is clear that the trading entities are growing substantially, coupled with the cash element, the escrow and maybe one day some NIHL money albeit I don't think they will ever see any of that. One of the trading businesses that was still loss making has been sold in the past few weeks for a substantial sum further bolstering the cash pile. I believe in the bad old days IIs represented roughly about 25% of the shareholding here but now believed to be more like 60% with 51% being declared, maybe higher. IIs don't just buy for fun especially when they are buying a business that is being supposedly sued for over £600m!They've done their research and they are showing what they think about the chances of success of this claim - and once this settles the share price will rally hugely as PIs try and buy back into a hugely under valued share. Just my thoughts on the matter.
bbmsionlypostafter: khitchen 1 Jan '16 - 18:40 - 539 of 3071 so what is the true value of WTG does anyone know, I do not know, can any of you clever fellas help with a clue ............................... Simon Cawkwell 1 Jan '16 - 19:20 - 540 of 3071 khitchen, My guess is upwards of 500p. This litigation conceived by My Legal Friend is balloney as far as the share price is concerned. When? End December 2016? SC
dalesiders: Barristers warned over law firm Slater and Gordon’s rising debt REBEKAH CAVANAGH, Herald Sun VICTORIA’S top barristers have been warned not to do business with Slater and Gordon unless paid beforehand amid concerns about the embattled law firm’s rising debt. List A Barristers, which represents almost 80 commercial barristers, sent a memo to its members on Tuesday “strongly̶1; recommending work requested by Slater and Gordon “only be undertaken once we hold funds”. In the email, seen by the Herald Sun, List A Barristers senior clerk and executive director David Andrews tells its members: “I strongly recommend that if you have any unbilled work you have undertaken on instructions from Slater and Gordon, you prepare and send an account forthwith. “I recommend even more strongly that any new work offered to you by Slater and Gordon or ongoing work requested by the firm only be undertaken once we hold funds in OUR trust account. “It is far preferable that we hold trust monies rather than the firm doing so.” The warning comes as Slater and Gordon faces increasing financial pressure and is at the mercy of its lenders, with their share price yesterday plunging 22 per cent to just 9.8 cents. The company revealed earlier this week, in releasing its financials for the six months to December 31, its debts exceed its total assets by $126 million. Its cash flow is also $11.4 million in the negative. Shareholders have been worryingly watching the business closely after its share price collapsed from an all-time high of $7.85 in April 2015. The decline came following the purchase of its UK business in March 2015, which led to a loss of $1.02 billion the next financial year. The firm has been given until May 26 to plunder a deal with its bankers on a restructure plan. If unsuccessful, it could be made to repay a $738 million loan within 14 days. Mr Andrews would not discuss the email when contacted by the Herald Sun last night. “I’m not going to talk about that,” he said. Slater and Gordon spokeswoman Kate Van Poelgeest said the firm would not comment on “rumours sourced from leaked memos”. “Slater and Gordon has enjoyed strong relationships with Australia’s leading barristers for many decades, through good times and bad and we expect to continue to enjoy those strong relationships for many decades to come,” she said.
dalesiders: Companies Compensation sought in class action against Slater and Gordon Slater and Gordon managing director Andrew Grech. Pic: Britta Campion The Australian 12:26PM October 12, 2016 Save Share on Facebook Share on Twitter Share on email Share more... Daniel Palmer Business journalist @Danielbpalmer Maurice Blackburn today filed a class action against stressed law firm Slater and Gordon in a bid to recoup losses for shareholders from a share price collapse tied to a calamitous UK expansion. Confirmation of the $250 million-plus class action, among the largest ever shareholder class actions in Australia, forced beaten-down Slater and Gordon shares 6 per cent lower in morning trade. It also came as ACA Lawyers said it was finalising its own class action against Slater and Gordon, hinting an intention to press forward shortly. The previously-flagged class action from Maurice Blackburn relates to any investor who purchased Slater and Gordon (SGH) shares between March 30, 2015 and February 24, 2016, a period in which around $2 billion was stripped from the law firm’s valuation. At the heart of the complaint is queries on the due diligence behind the disastrous $1.3 billion purchase of the professional services operation of UK-based Quindell, which was primarily funded through a $900 million capital raising, as well as activities leading up to a sharp downgrade in profit guidance. “The statement of claim alleges that … SGH made false and misleading statements, engaged in misleading and deceptive conduct, and/or breached its continuous disclosure obligations to shareholders which prevented shareholders from being able to make informed investment decisions based on complete, accurate, and timely information about the Quindell acquisition and the true state of the company’s overall financial position,” Maurice Blackburn said in a statement. “It is alleged that SGH contravened various provisions of the Corporations Act, ASX Listing Rules, the Australian Securities and Investment Commissions Act and the Australian Consumer Law, and that these contraventions caused the price of SGH shares throughout the period to be higher than would have been the case had the true state of affairs been known.” Maurice Blackburn said it would also make the argument that if the true risks of the Quindell purchase were known, the capital raising and acquisition would not have proceeded. The firm added compensation sought for affected shareholders would be of a “very significant magnitude”. “The sheer scale of the alleged wrongdoing, its impact on the share price and the number of shareholders affected mean that this case will be one of Australia’s largest shareholder actions,” Maurice Blackburn national head of class actions, Andrew Watson, said. “In addition to the hundreds of millions of dollars in losses our registered clients have suffered, we’re also protecting the interests of all other relevant shareholders by filing an open action, bringing the total claimed losses to more than a quarter of a billion dollars.” A separate class action is likely to be pursued by ACA Lawyers, with the firm saying it was shoring up a case that would seek to recompense affected investors through a longer period than the class action pursued by Maurice Blackburn. ACA detailed the prospect of a class action on December 18 and today announced its investigation had discovered “potential misconduct” as far back as Slater and Gordon’s FY2014 results. “It is important we ensure we identify all losses suffered by shareholders that may be the result of Slater and Gordon’s misconduct,” ACA principal Bruce Clarke said. “We are taking the time to ensure we make the strongest case possible to recover the maximum possible losses on behalf of Slater and Gordon shareholders.” Shareholders who bought shares from August 12, 2014 through until February 28, 2016 will likely be eligible to participate in the claim. In a statement this morning, Slater and Gordon said it was yet to formally be served with papers relating to the Maurice Blackburn-led proceedings. “Slater and Gordon will inform the market if a class action claim is served on the company.” The group’s shares skidded 6 per cent to 39.5c by 11.40am (AEDT).
henchard: Meanwhile, turning to the financials, what is the potential upside for investors buying in today? On 9 November WTG said: "Following the Return of Capital, in addition to its operating businesses, the Company expects to retain approximately £90 million in cash. The Group has a further £55 million held in escrow accounts relating to the Disposal and the Company retains rights to contingent consideration estimated to have a current value of approximately £39.6 million." Per the WTG website: Current total shares in issue 46,038,333 as at 04 May 2016. So, £90m retained cash = 195p a share. £55m in escrow = 119p a share. £39.6m current value of NIHL cash from SGH = 86p a share. Total = 400p a share. Current share price: 223p. Upside on this basis close to 80% with no value for the retained (loss-making) businesses. I reckon WTG will get the £55m (119p a share) in escrow. S&G screwed up on their DD; their own fault. So, what is the current retained cash? How much cash have the retained loss-making businesses lost? What have been the cash corporate costs since November? What have been the legal costs? Has WTG settled any My Legal Friend shareholder claims or booked them as provisions or contingent liabilities? I would say all these things are big unknowns. As a potential investor, I'd be happy to work on the basis of current retained cash available for distribution of £60m (130p a share). So, + escrow cash = c. 250p a share (upside 12% from current share price). Then the thorny problem of NIHL cash from SGH ... Arghh, low battery ... but numbers above may be some basis for serious discussion of the financials, and current value ...
martinbaker: Quindell (QPP) is now Watchstone Group (WTG) and the shares are now listed on AIM. The WTG share price opened at 96.75p on 27th November. Watchstone Group shares will be suspended at 7:30am on 16th December for the court hearing. What are your predictions for the WTG share price? Let's try and avoid ramping and bashing and get some ideas where the share price will be after the court decision!
Watchstone share price data is direct from the London Stock Exchange
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