Waterlogic Share Discussion Threads

[strutt12] 11/11/2008 13:07

His work here is done!!

[vision88] 30/10/2008 20:55

I dont see any CR POSTS hes gone rather quite on his great share

[ptolemy] 29/10/2008 12:02

Thanks for posting the link.

I'm still not happy and would prefer a third party to breakup the company and dispose of the parts. It seems to me like an invitation for the main shareholder (57%) to put together a bid (of which he's part) at a firesale price.

Plus, I would have liked to see a resolution concerning the non-executive Directors.

[bigstew2] 27/10/2008 15:25

M.W well he is getting value for his money at the moment.
Assets at 50p and buying them at 9p.
The whole company worth less than $850,000.

[knowsleyman] 23/10/2008 15:04

Mongrels

Would be quite happy to have a chat. The problem may be that I no longer live in England. I am a Cyprus resident. Do you wish to ring me here? Please remember that we are 2 hours ahead of England.

[corrientes] 23/10/2008 13:51

Crooks will always find the best deal for themselves.

[ptolemy] 23/10/2008 13:50

Knowsleyman,
Thanks for your comments. I understand that I don't have much information to go on (having not seen the EGM notice nor talked to others) but why are you so certain this is a better option than liquidation? If the asset value was above 50p a few months ago why should they not realise what they can. Even in these stricken times it should be well above the share price.

Dealing in an unlisted securit can be fraught with difficulty in my experience especially if its onthe basis of matched bargains.

AIM - whilst expensive - gave some transparency by forcing the company to meet certain requirement. Since many posters here have already commented on the 'irregular' actions of management over the last year or two, what can we expect when they are less regulated?

[knowsleyman] 23/10/2008 12:14

I am a long standing shareholder with a reasonable holding.

This morning I had a very long conversation with Steven Steel and am happy with what was said.

At the moment, I think, the full EGM details are not yet available on the web.

When you see them I am certain that you will be much happier to see that Mr Lawrence is making good some of the company's historic losses from horse racing ownership.

Please remember that the company is allied to the building industry which is dying on its feet.

Steps have to be taken to preserve funds and AIM listing fees are certainly one which is not currently needed.

A number of redundancies have taken place, with, probably, more to follow.

Am I happy to be a shareholder in an unlisted company. Of course not, but it is better than them soldiering on until they had to suspend the shares and call in an Administrator.

[mongrels1] 23/10/2008 11:06

Strutt

Market value I guess. Therfore 7p ish if we are lucky.

Depending on your purchase price the only option really is to hold on to your shares and become a holder in a non-listed company.

The major shareholders, Rathbones and Slaters, must be agreeing to this. One can only assume that they will want their money back at some stage.

All in all very very unsatisfactory.

[strutt12] 23/10/2008 10:19

How much do we get for our shares when they delist?

[ptolemy] 23/10/2008 07:25

So, totally shafted.

Partcularly circumspect is the phrase "The circular also contains proposals to ratify and confirm certain transactions between Michael Lawrence, a director of the Company, and the Company."

With asset value so high I would have expected some explanation to shareholders why they choose not to liquidate; sell everything seperately (presumably jobs at stake). But to fail to mention it, is failing shareholders, imo

[deanroberthunt] 28/8/2008 21:43

AIM = Advanced Insolvency Mechanism

[mongrels1] 28/8/2008 08:56

One aspect that does give me some hope is that the directors bought heavily at circa 56p about 2 years ago. With the exception of Lawrence, these are probably not wealthy guys and such a huge fall (on paper) must be hurting them.

Likewsie the non-execs and the other major holders bought at a similar level.

I'm also lead to believe that there is some major friction between the operating board and the non-execs although I don't know what the implications of this are likely to be.

[corrientes] 27/8/2008 18:28

Sorry - don't understand. I thought AIM was expressly created for amateurs, crooks in suits,snakeoil salesmen,magicians and other financial undesirables. Took over the mantle from the Vancouver stock exchange a few years ago as I remember when it was learned that the British FSA, SFS etc were paper tigers.

[knowsleyman] 27/8/2008 17:30

Mongrels

In my opinion this management should NOT have anything to do with a quoted company.

As the holder of a reasonable number of the shares, directly and indirectly, I am completely brassed off with them.

Having said that I find it hard to understand why the shares are trading so far and away below their asset value, even if the results are bad, which I expect, it would be hard to see them falling down to match the share price.

Should existing holders use this time as a buying opportunity to average down? I wish I knew the answer.

[mongrels1] 27/8/2008 12:40

I've also had contact with WTL management and they told me that results were likely to be this week. No precise date was given.

They also implied that they wouldn't be reporting any further bad news than was outlined in their profit warning. Whilst I hope that this is the case, they have often said things to me on the phone and then subsequently done or reported something completely different.

One thing that is clear when you talk to them is that the management are completely brassed off with being on a quoted market.

[knowsleyman] 23/8/2008 12:23

Been given a revised date for the accounts of 29th August, however, Mr Steel did say that this was not a certainty.

He went on to explain that the problems were complying with the latest reporting requirements.

For my part I would not have expected the additional requirements to cause the accounts to be 2 months later than last year.

I just wonder how bad they are.

[corrientes] 31/7/2008 17:11

Well if people can't move, they'll eventually want to replace kitchan/bathroom fittings.

[mongrels1] 31/7/2008 15:59

Probably an awful decision but 10K just purchased at 11.5 pence.

Quoted 12.7 pence to buy them back immediately!!

[ptolemy] 30/7/2008 15:47

8-10p

If we put our small change together, we could make an offer?