Westminster Share Discussion Threads

[youkme] 07/12/2017 14:42

very strange share price over the last few days even by wsg (dog of the year?) standards
Any ideas?

[joesoap3] 07/12/2017 10:05

Only optimistic guesswork but I didn't really expect an RNS this morning.

I am hoping that maybe those close to the company have heard that something may be about to be announced and the buying is those getting in at low levels. Although initially down this morning, it is now creeping up but not on huge volume.

Whether the recent ups and downs in the share price is the same buyers taking profits or other people selling on a rise is unknown.

Will we get an early Christmas present ???? it seems only yhe Board know the answer to that

[graham1ty] 07/12/2017 07:38

All that buying, in big size, yesterday looked like insider dealing. If it was, it was a bit early, as nothing this morning on the RNS

[dbnout76] 07/12/2017 07:15

Or maybe not

[dbnout76] 04/12/2017 20:38

Oh come on Fowler - give us something for crying out loud!!!

[alphapig] 04/12/2017 13:37

The higher they an keep the sp, the higher they can place, but that's negated by the probability of an egm to reduce nominal. I think they'll rns an egm with a proposed placing around 7p, provided they can keep the current share price around 10p. But wtfdik. Probably need to do it sooner rather then later.

[graham1ty] 04/12/2017 13:20

The assumption that their cash lasts until March next year presupposes that the run rate of cash outflows has fallen dramatically. On the historic record, they need c£750,000 per quarter.

And the assumption seems to be that they have just walked away from the ferry. Can it really be that simple ? You have pretty big overhead in Boat, crew, and terminal staff. Sea Coach will not just have taken on all that overhead, why would they ? Sea Coach would be mad to take on WSGs losses and some deal will have been done on who carries which costs, and who gets what slice of revenue. The RNS said WSG run the terminals, and Sea Coach run the ferries. What revenue is there at the Terminals ? It could be that Sea Coach rum the ferries, but get the bulk of revenue from the ferries ? Who knows. But why would Sea Coach take on the losses ? The ferry service continues, so someone is carrying the costs.

It would be a miracle for WSG if they managed to walk away from the ferries with no further losses. I just do not believe it. And therefore, that eats into the cash balance.

[threeputt] 04/12/2017 12:47

I tend to agree, I think they are stalling on the fundraise beacause of the share price. They will need to raise at least £2m for the debt owed in June at some stage but like the above post I think they can hold off until Feb/March as I believe increase funds from Lunghi are helping imo. Still in deep doodoo whichever way it's seen though

[graham1ty] 04/12/2017 12:11

I cannot understand why this is holding at these levels. We know thee as to be a fundraising, they have told us it’s 4Q, the share price is below nominal value, so they really should be in deep deep trouble.

Why ?

[barpy] 02/12/2017 08:25

11 weeks until their six year duck. That’s no contract for six years. Six years

[graham1ty] 01/12/2017 16:25

Saucepan, the ferry only started on Dec 9th last year. Bit early to write it off already. Give them a year and reassess on the first anniversary.

[owenski] 30/11/2017 09:08

"I’m losing money here too"........... Yet you ignore the facts that Graham merely states and do nothing about it, are you some form of idiot?

[broncowarrior] 30/11/2017 09:02

Yes, he states them over and over again. I'm losing money here too, but I don't keep going on about it.

[graham1ty] 30/11/2017 08:24

Bronco ? Me bitter ? What about the poor shareholders who have had to wait 18 years ( see above) for a contract ? The poor fools misled again at the AGM ? They should be bitter

[saucepan] 29/11/2017 20:13

If you have followed WSG for any length of time and are familiar with the over promising and under-delivering and the way this Company seems to be run, I think any reasonable investor is likely to feel some bitterness towards WSG and have a bit of an axe to grind.

I know I do, and that is despite having some success trading the shares. I keep WSG on the radar only because I find it fascinating to see how it will all end.

Graham simply states the facts and it is good to be reminded of them, if only for lessons learning. They all add up to nothing short of an outrage. Something should be done about it, but I doubt that it will.

[broncowarrior] 29/11/2017 18:08

I like the way Graham clearly isn't bitter and has no axe to grind.

[alphapig] 29/11/2017 13:45

Someuwin, lol! Hope there's a video feed of K70, 'Assault on Precinct 13' comes to mind.

[someuwin] 29/11/2017 13:35

November 29th, 2017

Westminster is currently exhibiting at the UK Security Expo from 29th November – 30th November 2017 at the Grand Hall, Olympia, London.

UK Security Expo is the premier global security showcase that attracts an audience of Government, Transport, Intelligence, Defence, Law Enforcement, Emergency Services CNI and the Private Sectors from all over the world. Visit our stand K70.

[youkme] 29/11/2017 12:47

Shameless twitter ramping once again.
And Teresa may is off to help wsg lol pmsl
Unbelievable

[graham1ty] 27/11/2017 18:04

4/10 £250,000 in placing at 33.5p
4/10 £500,000 in placing at 41p
8/10 £505,000 in placing at 20P
10/10 £1M in placing at 25P
7/11 £625,000 in placing at 12p
4/12 £500,000 in placing at 17p
7/12 £1.4m Loan Note
2/13 £1.48m in placing at 30p
4/13 up to £5m at prices yet unknown
6/13 £1.18m convertible loan note
7/13 £100,000 drawdown from EFF
9/13 £700,000 drawdown from EFF
9/13 issue of 4.6m shares against the Convertible
9/13 £200,000 under the EFF
11/13 £530,000 under the EFF
3/14 £450,000 EFF/new investor
8/14 £1.25m at 40p
12/14 £1m at 25p and 33p ( EFF)
4/15 £2.3m ( gross) from CULS and EFF
10/15 £1m gross from CLN.
2/16 £475,000 Loan Note to Darwin
6/16 £1.3m from institutions at 10p
11/16 £1.1m from Darwin
02/17 £0.6m from a new investor at 11.625p
04/17 £1m from Beaufort at 10p
09/17 £750,000 from Beaufort at 10p

Twenty Four fundraisings since 2010. Raising £22.6m. For what ? A company still bleeding cash, still losing money. And no reduction in the run rate. £3.3m raised in 2015. £2.9m raised in 2016. Only £2.3m so far this year. But however you cut this, it still looks like about £600,000 to £800,000 per quarter just to keep the lights on.

On that basis, £750,000 gross ( about £700,000 net) raised in Sept should last until about...... end Dec. Possibly into the New Year. OK, they had £400,000 left on 1 Sept, but in the same para of the interims they revealed that had fallen from £800,000 at June 30th, so c £200,000 out the door in each of July and August. So, possibly £200,000 left by the time of the fundraising at end Sept. Meaning at the beginning of 4Q they had about £900,000. Again, even with that slightly higher figure......only just past the New Year.

One other thing, not really mentioned. In the table above the “amounts raised” is gross. The last Annual Report showed that the £1.675m raised in 2016 from Convertible Loan Notes cost......£272,000 in fees and costs !!!! So, 16% was paid away in fees !!!! Not only did Darwin screw shareholders, they absolutely screwed WSG. If you are desperate, and end up at Darwin, they can charge 16% for the privilege !!! Unbelievable

[saucepan] 27/11/2017 16:48

FowlerMcFoulFace?