Western & Oriental Share Discussion Threads

[double6] 22/3/2011 14:46

Try emailing the above ....

You get a auto reply advising the person is no longer employed / email to be re-directed internally....

I've subsequently had an interesting email from Pavlos!

.....

[qantas] 22/3/2011 12:58

sobers think you got it 100% correct.

[double6] 22/3/2011 12:54

Email...

[e-mail]

[loverat] 22/3/2011 12:35

Well, looks like they have decided to narrow the headline spread and create a little interest. Shake out a few holders for a tenth of a penny in the process.

[ucnut] 21/3/2011 18:00

Anyone contacted the company and suggested that they list on PLUS. Shares would remain trade able and costs significantly reduced.

[kevin 1896] 21/3/2011 17:39

its possible but very unlikely. Hope you are right though

[chrisdgb] 21/3/2011 14:24

now trading at less than 1 year's profits, stupid.....just topped up...vote not a done deal..multi bagger..

[mishmash81] 21/3/2011 14:19

Well, my shares are worth so little I might as well hold on from here to see if these men in dark glasses can create some shareholder value from somewhere! Can't really get worse (although I wouldn't put it past them!) so will see what happens. GLA, hope you've learnt the same lessons as me...(don't believe roll-up stories and don't trust minority shareholders with interests in only one part of the company)...

[kevin 1896] 21/3/2011 13:23

just had this:

Western & Oriental is proposing to cancel the admission to trading of its Ordinary shares on the Alternative Investment Market (AIM).


On 18th March 2011, the Board of Western & Oriental announced its intention to cancel the Company's Ordinary shares to trading on AIM as a key part of their attempts to reduce corporate costs.

The Cancellation is subject to shareholder approval at a General Meeting to be held on 7th April 2011. Pursuant to the receipt of such approval, the Cancellation is expected to become effective on 15th April 2011.

You should be aware that if you have not sold or otherwise transferred your Western & Oriental shares prior to the cancellation of the listing you will not be able to sell or otherwise deal in them on AIM after that time.

The Directors intend to create and maintain a matched bargain settlement facility. Once the matched bargain facility has been arranged, details will be made available to shareholders on the Company's website below.

Regrettably we are unable to facilitate trades using the Company's matched bargain facility. As a result of which should you wish to use the Company's matched bargain facility after the Company's Ordinary shares have been delisted you will be required to withdraw or transfer your shares from our nominee service.

Should you wish to withdraw your shares, please contact our call centre so that we can arrange for this to be done. If you wish to transfer your shares you will need to establish an arrangement with an alternative broker. Should you wish to do this, please contact our call centre with the details of your chosen alternative broker and we will facilitate the transfer of your shares to them. Please be aware that you will need to have contacted your chosen broker in order to complete their necessary transfer process prior to contacting our call centre. Please note that in both cases, normal charges will apply.

Should you retain your holding of Western & Oriental, we will notify you upon receipt of any further information from the Company.

Should you wish to find more information about the Cancellation, please visit the Western & Oriental website, www.westernorientalplc.com.

[qantas] 21/3/2011 12:04

Western & Oriental confirms sale of travel division


Friday, March 18, 2011


Sophie Griffiths



Specialist travel group Western & Oriental this morning confirmed the sale of its travel division, including tour operators W&O Travel and Regent Holidays.

In a statement, the firm said the sale was "progressing well" and that the travel division was being purchased by Furze International.

Raj Kumar of Furze International yesterday agreed with the W&O board to provide in excess of £4 million funding in the form of guarantees and cash to finalise the sale and create investment for the future growth of the tour operations division, the statement said.

Discussions with all other potential bidders for the travel brands have now been discontinued, it added.

Western and Oriental Travel managing director Kerry Golds said: "Our commitment to securing a strong future for the business remains steadfast and we are scrutinising ways in which we can invest in and grow the business in the short, medium and long term.

"We will continue to make significant investment in the travel trade and our absolute commitment to delivering a specialist service of the highest standards is unchanged."

[sobers] 21/3/2011 11:06

I think the city investors feel they have been sharfted and are looking for exit as want nothing more to do with the good ship Western & Oriental , so will probably take anything on the northern side of .20 of a penny . Dont think there will be problem getting 50% shareholder approval for disposal of travel as Kumar and Pavros almost there already , and should be then easy to mop up support to push through the 75% for leaving AIM and then Pavros takes it private , maybe offering shareholders the option of switching shares to the " new " company . All speculation of course , but some unhappy folks out there which is doing the reputation of the company no good , which might be another reason Pavros might want to move away . What is obvious is that Andrew Neil saw an iceberg looming and jumped ship , so he might be annoyed to see he is still listed as chairman on the co.investor website but then apart from the daily decline in the shareprice the site has not changed for months .

[mishmash81] 21/3/2011 11:04

right, just got back from holiday (ironically) to this shocker. Are we just going to get shafted as some have pointed out - being left with a shell of a company. Should I try and get what I can out - or should I try and get to the EGM. I think they are definitely not being clear enough about the state of the finances. Its a bit weird, i took a punt on a biotech called Summit which is working quite well (worth a look) and this was a more obvious value play with established business etc, and it has been a complete disaster...

[chrisdgb] 21/3/2011 10:00

struggling to get the time to do some numbers here, we are probably into unbelievable value here...anyone else cranked the calculator..?

[andrbea] 21/3/2011 07:55

another possible outcome is that they don't get the 75% shareholder approval for delisting

I've seen it happen once before and the company stayed listed

[qantas] 20/3/2011 19:06

Hate to say told you so.
Why do shareholders get blinded by the share price.
Even now they think it's a bargain.

[patviera] 20/3/2011 16:23

will kumar sell his shares to pavlos at 0.1p?



and pavlos agrees to sell travel business to Kumar for bargain price...outcome,shareholders get shafted

[ihavenoclue] 20/3/2011 08:16

Wow glad I stayed out. I wonder how long someone would have to hold for any chance of finding a buyer ?

[patviera] 19/3/2011 19:39

Theyve got away with it...KUMAR gets the travel business for a measly sum and PAVLOS gets the events business and can do as he pleases cos WEST is delisted!! WELL DONE to the two of them..us shareholders are shafted but what do they care...Theyve got away with it!!
KUMAR AND PAVLOS MUST BE DELIGHTED...NOONE HAS STODD IN THEIR WAY...SHAREHOLDERS CAN SELL AT 0.2P WHILE THEY GET THE BUSINESSES FOR A NOMINAL SUM.NO WONDER PAVLOS WANTS A DELISTING,HE CAN NOW DO AS HE PLEASES.WHAT A SHAME ANDREW NEILL LEFT,HE WAS ONLY ONE WHO WOULD PROBABLY STAND UP TO THEM.its a DIGRACE

[sobers] 18/3/2011 18:49

Just a thought - if you put Options and Kumar shareholding together plus you add a few more , you dont need much to have official control , rather than unofficially as it stands now . Kumar probably wont want his after he has bought travel , so he sells to Options at a rate that is pleasing to both parties and he recoups quite a bit of his investment in travel . Options then have control of the Events side which is their prime interest , but they dont need a WO PLC which is an asset reduced worthless company . So Options decide to go private , leaving WO PLC as a empty shell . Probably looking at this in its most simple form , and no doubt there are many reasons why it will not happen , but just a thought .

[h d shoring] 18/3/2011 15:56

The m/c stated is wrong .There are over 6oo M +shares in issue .
Options hold 100M for which they paid £1.5M [current value250K],thats why I expect them to act .

[kevin 1896] 18/3/2011 15:53

is that because its over 3% of the cap of the company?

[loverat] 18/3/2011 15:41

If the market CAP in the financials above is right one only needs to pay £25k and get a holdings notification RNS.

KennyRussell - are you about?

[double6] 18/3/2011 15:10

Pressure on the BID

[kevin 1896] 18/3/2011 15:09

Thanks for the info Loverat. Think this may recover a little by the end of the day by the looks of things