Westminster Share Discussion Threads

[misty12] 12/5/2016 08:21

Graham- well what do you expect when peeps don't understand the significance of the nominal value. Take this one for instance

"reading between the lines, what they are doing is reducing the share price to give Directors etc a decent deal, hence the change in nominal value is to me a tactic rather than a necessity...."

Priceless

[graham1ty] 12/5/2016 08:11

A whole lot of buyers at 7.8p. I just do not understand some folk.

[someuwin] 12/5/2016 07:57

Share Prophets ‏@ShareProphets · 2 minutes ago

Just posted: Westminster Group (#WSG) says needs emergency refinancing - timber!

[nashwan123] 12/5/2016 07:54

I smelt a rat a couple of weeks ago at the UKI Show. WSG had a stand there but no one manning it to talk to.

[misty12] 12/5/2016 07:53

G1- its a sad day for sure. That is a damning RNS by anyones standard. Real red flag statements. If they don't get finance and quickly its finished IMO.
If they do manage to change the resolutions to reduce nominal value the placing will be around 4p max imo and massive

[g1g4lo] 12/5/2016 07:51

misty - unfortunately I agree with you.

I had that view since Darwin got involved but it takes time to come to fruition. And now the end is closer as the dilution if they survive will be immense

[misty12] 12/5/2016 07:47

Exactly what I've been saying on HERE for some time now. Cannot get money here. Shame LSE BB didn't have the bottle to point this out to the poor souls buying in the last few days. This company is finished, simple

[g1g4lo] 12/5/2016 07:43

I feel it will be more CLNs with Darwin as that is immediate but need EGM very quick to arrange this.

Shareholders have to say yes to change the nominal value to 1p or the company will be in administration.
There is no chance Directors will invest here. More BS in the RNS covered with caviar

[panic investor] 12/5/2016 07:39

Anybody believing that scam crowd needs heads examining !

[pugg1ey] 12/5/2016 07:38

Do Shareprophets own this stock as they tend to put a positive slant for their one line summary regarding WSG RNS's? Will be interesting what they say for this mornings release.

[graham1ty] 12/5/2016 07:37

I note also that the funding is needed "in the near term" which I take to mean NOW. If they had any time, they would announce the results, let everyone see the true picture, and put everything in place in a reasonable time frame.

"In the near term" reads to me like days, not weeks. So, Director loans for a couple of £100,000, then a circular to call an EGM ( ( I think a minimum of 21 days notice) to change the nominal value, then prayer. The only real choice. Prayer

[g1g4lo] 12/5/2016 07:32

Currently, pre-open 7p - 8p

[g1g4lo] 12/5/2016 07:30

Graham, I think all will be said today - PF is full so BS

By the way, I was a poor mug that had an average over 70p lol - but I sold out at 62p but had a good holding and lost around £30k here.

Been watching for 2 years now to get back in but I think I will just review out of interest now and learn for the future.

[g1g4lo] 12/5/2016 07:26

And LSE poster cannot understand why it's nominal share price will reduce from 10p to 1p

Placing, CLNs etc can be raised from 1p upwards and not 10p.

I expect at least a 30% drop in share price today and will hit an all time low. I think around 3 to 4 years ago, the share price hit 7.875p. Expect below 7p today

[graham1ty] 12/5/2016 07:23

G1 LSE is full of people with averages from 20p to a few poor mugs up at 70p plus. IMHO none of them believe the story, they just need to ramp it up to their exit price.......

Anyhow, are they going to express amazement if it falls below the perceived support at 10p ? Or all buying more as it is such good value ? Or blaming derampers ? Or saying the share price fall is good news as a good buying opportunity......

[g1g4lo] 12/5/2016 07:18

Graham

I read that - unbelievable

[graham1ty] 12/5/2016 07:16

On LSE someone writes "seems a good RNS"

In which they admit, the ferry still not on the slip, America delayed, bridge contract delayed, continuing losses, extra costs, the need for a fundraising, the need for a capital reduction, no date for the Final results ( now five months late)

A good RNS !!!!

[g1g4lo] 12/5/2016 07:11

Oops



"Also, in order to provide additional financing flexibility and due to the Company's share price recently trading around or below its nominal share price of 10p, the Company is currently finalising plans for a capital reconstruction to reduce its nominal share capital to 1p. The Company will shortly issue a circular to shareholders with full details. The proposed change in nominal value will be subject to the passing of certain resolutions at a General Meeting."

That also means Darwin can continue conversion of the CLNs

[graham1ty] 12/5/2016 07:11

Well, there is a surprise.....

[g1g4lo] 11/5/2016 11:09

Just got 3% of my portfolio in AIM now but I still take risks. Have to to get out of the position I have stupidly put myself in.

Apart from the obvious, my major stings over the last 3 years are all down to believing and trusting the CEO. One is DB from Coms, another PF from WSG and SO from MXO. I no longer talk to the BOD on any of my investments anymore and try and do my own forecasts in cashflow, reading the last few annual reports and RNSs and judge their financial position and how long the money will last. Dilution is the main culprit on my major losses, except WSG but I did like jam and caviar - I now imminently dislike them now.

Good luck for all invested here and hope it turns round. Nice to catch up with you Misty and best wishes for you too.

[misty12] 11/5/2016 10:55

Diamond, remember you well mate. Great story there as well. Best wishes, hope you smash it. Its a dangerous game on AIM, thats for sure

[g1g4lo] 11/5/2016 10:54

Well researched Tommy