Westminster Share Discussion Threads

[graham1ty] 20/5/2016 14:23

Woof, woof woof

[misty12] 20/5/2016 07:36

Kreature- As per the last RNS as far as any one knows. Up to you to then determine how serious the damage is and are they telling us everything. History will give you a fair bit of help making your mind up though.

[kreature] 19/5/2016 22:46

Helllooooooo?

Is the boat afloat yet?

[kreature] 19/5/2016 00:48

Can we expect the Finals this month? Any joy expected in them?

[wynterwilde] 18/5/2016 11:48

Darwin were presumably seen as a short term fix until revenues were flowing. Contract delays and the ferry issues have scuppered that! Whilst contract delays may be seen as bad luck and mainly outside of the companies control, I'm left wondering if the ferry issues were made in-house.

My guess is that as soon as the Sierra Princess arrives, the Sierra Queen will transfer to other duties when she's finally repaired. Looking at the tide charts for Freetown, I'm not sure she's the right vessel for the crossing. Should this be true and should it prove to be PF insisted on using her, he has caused this crisis and should go.

[misty12] 18/5/2016 08:18

even more was/is Ian Selby lack of understanding how Darwin destroy sentiment and in turn collapse share prices. He actually thought the deal was good! go figure.
I think Barby, you make a good point around the need for restructuring. Surely a placing at Share price or a premium would have been possible if anything in the fantasy MOU league table was close.
Make no mistake this placing will be at a massive discount to current share price (IMO obviously). City has WSG by the knackers and its not going to be pretty imo.

[barpy] 18/5/2016 08:00

The hubris of it all.

I see in Ian Selby's write up on the website that he is experienced in debt restructuring. He can now add getting a company unnecessarily into debt to that list.
Where is boaty mcBoatface mkII coming from? Trials and approval, mmhh 3 months. Why not dig deep lads and give up the salary until it's in place
Does this restructuring mean the board know that there isn't anything convertable in the near term?

Clown shoes

[graham1ty] 16/5/2016 13:51

I have commented before about the Board issuing shares like confetti. At these levels, WSG is capitalised at c£5m. however, it now has 69m shares in issue. On Jan 1 2010 it had only 14.9m shares in issue. At 7p, that would make WSG worth barely £1m.

In 2010 PF owned 4.6m shares, or almost 31% of the company.

He now owns ( with his Mrs) 6.4m shares, but suddenly it is only 9% of the Company. He has been massively diluted........

[misty12] 14/5/2016 00:24

thought so. I admire your work in particular, picking the mindless rampers for answers. Good luck where ever

[kreature] 14/5/2016 00:19

yep..........I suppose there will always another opportunity. I had a few bucks on Next to plummet at 80 quid and closed too early. Maybe next time.

[misty12] 14/5/2016 00:08

K- don't talk to me about oil. I was the only fool closing on the way down at 60. shouldn't complain I know, but the low print would have been something had I held. You are "C"reature aren't you?

[kreature] 13/5/2016 23:58

I have a short position on oil that isn't looking very clever at the moment, otherwise all good. I don't really understand the debt situation here but I'm not very tempted given the ferry RNSs - I suppose another airport contract would change everything but doesn't seem very likely imo - ATB

[misty12] 13/5/2016 23:44

kreature; yes your right. I'm really looking forward to Peter asking for the information I hold on him. I changed one word though, spot on mate, hope your well

[kreature] 13/5/2016 23:39

Politely suggest that you edit that last post. Booze talking? : ) A bit OTT in my opinion. Hope there's good news soon.

[misty12] 13/5/2016 23:22

3P- If Darwin want to leave then they will leave. If they see "risk neutral" profit then they will stay. PAR drops to 1p then its risk free and they will stay in some shape or form. But wait a minute. IS thinks Darwin are good news and a sound partner, so it should all be fine.

[threeputt] 13/5/2016 19:58

cheers Misty, no end to the misery then unless the placing can be used to pay off Darwin

[misty12] 13/5/2016 18:45

3p. In short yes. there will need to be a re work in the contract between D and BOD but its an easy fix. Alos it remains to be seen how they are going to do this. By looking at the RNS they are going to apply to take all shares down to nominal value 1p. So darwin will be free to carry on as normal. Its also a real possibility that the only finance option to WSG will be be more of Darwin. Its going to be interesting to say the least. An ordinary placing will be super discounted though, of that I'm fairly sure.

[threeputt] 13/5/2016 18:35

Am pretty confused about the Darwin cln's, if the nominal share value is reduced to 1p (ha, a penny share quite fitting really !), does that mean Darwin can then continue then to convert the remainder of their clns at the reduced share price ?

[misty12] 13/5/2016 17:50

Thats no buy mate. What stinks though that someone can trade SEAQ before market open but after RNS read.