Westminster Share Discussion Threads

[barpy] 24/5/2016 20:57

The RNS on the 22 Feb 16 stated lost revenue from July to Dec 15 to be over $9m, so at the end of May that's $18m now. Heads should roll for this.

Also from the RNS on the 12 May 16
In the meantime we have located the underwater obstruction which caused the latest accident and are making arrangements to remove it.
WTFDIK but that's not a shopping trolley down there, was this near the landing bay in shallow water? If any other boating company in SL wants to nobble them they know how to imho.

Reckon there will be an RNS tomorrow or this week.

[graham1ty] 24/5/2016 20:15

No way is it HH. They have 3m. They would move the price against themselves before,you could say Giles.

No, I suspect he has written this off to bad judgement and being conned or mislead.......

[threeputt] 24/5/2016 16:32

Could be Hargreave Hale selling up ? I know that they are supposed to inform their position but I've noticed before that the notification happens further down the line sometimes

[misty12] 24/5/2016 16:12

round 200k sell delayed. I wonder if any so called lth (you know, the ones that "just topped up" every two minutes) will hold their hand up?

[misty12] 24/5/2016 13:41

I think I'd be asking share price Angel for guidance on suspension if i were the BOD. The longer the uncertainty carries on, the share price drifts the harder its going to be to get a placing away at any sort of price. THEY do not want to be left with just Darwin as an option again. All IMO but pull your finger out BOD do something ffs

[misty12] 24/5/2016 09:59

Post 10971 rec from me

[graham1ty] 23/5/2016 20:23

Saucepan, it was almost fraudulently misleading. As far back as 2013, they had 42 airports in 24 countries, with a passenger potential of 30m pa ( 150 times the volume through Lungi). They had 423 technology projects in 79 countries with a potential value of £368m.

Well, how many of the airports converted in last three years: ZERO

Of the technology contracts, possibly £5m, or about 1%.

Either they are completely incompetent, or the original figures were grossly misleading.

And there was the constant bulletin board noise of "my mate says there will be an announcement on Friday".

[saucepan] 23/5/2016 19:38

Spot on Graham: it is exactly that kind of assertion that at one time made me feel WSG was a story worth backing: the same with the proverbial massive contract "pipeline". It has all come to nought. What does one conclude? The board was totally disingenuous or totally naive/incompetent? Or very unlucky? Perhaps all three?

Thank goodness, in my case, that I am in large part a technical investor - and was able to get out when the chart changed.

[graham1ty] 23/5/2016 17:46

Kreature, well it has been 51 months since they won Lungi ( Feb 2012) so I make that approximated 220 weeks. So, abusing probability analysis, it might be less than a 0.5% chance.

I quote from the 2011 accounts ( dated 30 May 2012) " in April we revised our estimates ....suggesting that we may achieve the forecast figure of $150m by the year 8 break point rather than the full contractual term of 15 years".

Well 2012 revenue ? £1.7m from managed services ( but inc Longmoor); 2013 £2.8m; 2014 £2.3m; 2015 probably the same. Total after four years ? £9.1m or about $15m.....

Got a bit of catching up to do to get to $150m in the next four years. It was all hype and even without EBola the suggestion they could get to $150m in 8 years was laughable.

[kreature] 23/5/2016 17:07

Be funny if they won another airport this week. Any news on that?

[alphapig] 23/5/2016 14:39

Graham, I don't pretend to know much about company fundamentals, so expect you're nearer the mark then me, just thinking that when you take out Darwin, salaries, repairs, costs associated with mou's etc, how much of a million have you got left? I confess I don't know how much the airport is bringing in exactly (pax and freight).

[graham1ty] 23/5/2016 13:58

Alpha, why raise that much at these levels ? The talk has always been "an MOU is so close, just give us a few hundred thousand, then we will be able to announce a contract, share price will zoom, big fundraising much higher". Yes, they need to clear Darwin, but why not that and only a little more. In fact, at these levels, what else could go wrong that would mean they could not raise more at 3-4p in three months ? You do not raise the "this will see us through indefinitely" money at an all time low

[alphapig] 23/5/2016 13:50

Looks like some day traders haven't learnt yet, could be a 5p bid by close. If they go for a raise of £1mil, that's 25 million shares at 4p, or more likely 33.3' million at 3p (and that's gross). Thinking about it, £1.5. Mil seems more likely. That's not just gross, that's downright ugly!

[graham1ty] 23/5/2016 10:48

Misty, there is no ferry, no converted MOUs and this silence is destroying value. In an ideal world they would have announced a conditional Placing to their new strategic partner, at a set price, subject to an EGM to reduce the nominal value. The delay tells me they do not have that investor tied down yet, there is no price agreed, and they are scrabbling around to get anything away. Meanwhile, they remain about the last company on any market with a December 31 year end that has not yet reported their figures.

Meanwhile, the market cap is about £4m. If I was an incoming investor, I hold all the cards. I would want 25% of the company for an injection of £0.5m. Or maybe a third for £1m to buy out Darwin at the same time.

That would imply a price of about 3p

[misty12] 23/5/2016 10:05

Need to wait until finance is sorted imo way to risky atm

[kreature] 23/5/2016 10:00

problem is the percentage loss increases for each penny subtracted. just seems too risky for a punt imo

[graham1ty] 23/5/2016 09:47

Woof, woof. Silence.

This has no value, so unless they do something, this could drift away to oblivion

[saucepan] 22/5/2016 13:27

followtheleader: From a previous discussion, I thought you were very bullish on WSG? What made you change your mind?

[hvs1] 22/5/2016 09:47

the targets are anything between suspension and 2p, and get the hell out, lol

[kreature] 22/5/2016 03:44

"down the slipway". Ouch. Has anyone got anything positive to say? What are the targets here?

[followtheleader] 21/5/2016 21:53

Directors to buy? Don't make me laugh.

I share your opinion for once misty12. They haven't bothered to part with one pound all the way down to present levels. Comments like this read more akin to them trying to save their skins and jobs.

A classic case study of wealth destruction.

[kreature] 20/5/2016 19:49

I suppose now would be a good time to come up with a signed 25 year airport service contract. Could make 200% in a day if that happened IMO. Dunno what the chances are though

[misty12] 20/5/2016 17:45

Placing at 4 I said. Not so sure they will even get one away now. Might be stuck with a Darwin contract again?
Directors to buy? Don't make me laugh. Good weekend peeps