Westminster Share Discussion Threads

[youkme] 23/2/2018 08:03

convertible loan notes loom as well!

[youkme] 23/2/2018 08:01

Thats why I think it needs reporting? Surely someone can see that the ultra ramptastic RNS over the years are always when the company share price is rock bottom and in some cases below their nominal value so they can't raise money! then RNS and bobs your uncle, placing!

[hippo] 23/2/2018 07:25

Graham, lie after lie for several years, but the Fowler family and cronies still earning top dollar........that is just a few of what I would say is, 50 plus statements made over a few years which are misleading, lies and or highly questionable.......

[graham1ty] 23/2/2018 07:19

HAPPY ANNIVERSARY again. It was a year ago today we had a trading statement. Let us look at it.

“With the major airport contract discussions largely completed, the Company has been actively preparing the required support structures and infrastructure necessary to deliver the projects, including organising a complex supply chain. Whilst there is never certainty in relation to either the outcome or timing of such negotiations the considerable progress made to date and the ongoing support received from UK governmental departments is extremely encouraging”.........so a year ago they say a) that discussions are completed b) that they are already putting in support structures and a complex supply chain. Can we really believe that ? Surely exaggeration, or a straight lie ?

“The current service is focussed on the Sierra Princess which is operationally proving successful and which will be joined by other vessels as demand and operations dictate. The larger Sierra Queen will be brought into service in due course for longer distance regional routes currently being planned.”.........well, that was just a lie. We know that.

“As referenced in the Company's trading statement of 21 December 2016, the Group is expecting to report a much improved financial performance for the year ending 31 December 2016 with revenue growth up 22% year on year and expected break even at the adjusted EBITDA level.”.......all good for 2016, but then lurches to £1.2m EBITDA loss for 2017

So, after a trading statement a year ago which was almost pure fiction, why believe that the ME contract is imminent ?

[graham1ty] 20/2/2018 17:39

Caviar all round to quote PF. On his families pay packet, they can probably afford it. Not shareholders though

[barpy] 20/2/2018 17:25

HAPPY ANNIVERSARY WSG!!!!
Six years and no airport contract. Together with the two years anniversary of the mou this really is a special day.

[graham1ty] 20/2/2018 15:50

I have been thinking about this. If the contract is c€24m, let us call that £22m. If they get 50% gross margin ( and what client would agree to that, so is probably a lot less than that) then the cost of running the contract is on those numbers, £11m per annum. What is the average salary for a professional Omani ? Look online and it seems 12,000-15,000 OMR is a pretty good salary. With the exchange rate, that is c £25,000 [is that really the average salary ???? Google says that is the average salary for an engineer]

So, divide that into £11m, and you get 440 staff on that salary. If you take the margin down to 30%, then the cost of running the contract is c£15m. If you do not take the average salary above, but assume a lot of the security staff are paid a lot less ( are Heathrow security staff paid that much even ?], as it is fairly tedious, menial work, why don’t we try an average salary of say 10,000 OMR, or £18,000 average salary cost. Divide that into £15m and WSG will have a local work force of 830 people. Really ? They are in the last three weeks of a trial in Muscat and 800 people have not inadvertently leaked their employer.

This all assumes that WSG are just “taking over” responsibility ( and the salary cost) of a pre existing workforce. If they have to recruit.......500-800 staff ??? Yeah, come on. Pull the other one.

And if there are not that number of staff, what are WSG getting paid for ?

[graham1ty] 20/2/2018 11:45

HAPPY ANNIVERSARY WSG !!!!!

It is two years today that you signed the Middle East MOU. How is it going ? You must be making a mint on a contract that big ! And the client wants is to start immediately. Brilliant.

And you mention in the RNS that there are multiple airports. How many of those have you won ?

And the RNS says you have 6 million ( yes MILLION) passengers under MOU. Wow. So, what number are you actually up to ?

[tax dodge] 20/2/2018 09:45

I wonder if your wife was going to leave you anyway because you are deluded.

[youkme] 20/2/2018 09:35

Anger in your post! go see a Doctor, really need to get this obsession looked at tax its not good for you. Why on earth do we wind you up so much lol its priceless absolutely priceless!

[tax dodge] 20/2/2018 09:30

No you don't wind me up and yes you fool I would say all this to your face. You lost a lot of your wife's money and want to blame everyone apart from yourself. Blame the rampers, should do your own research. Look in the mirror trucker man. As for ruining the thread, don't be stupid. It's just you and mr fool going on with your bitterness that you lost money. If anyone would have listened to you in December and sold they would of missed out on over doubling there money. How does that make you feel. You both talk rubbish, graham still saying you was a nomad. Pair of idiots that need to get a life. Wind me up I feel sorry for the pair of you, I really do. Anyway I didn't listen to you so I'm going to look at my massive profit here and in star. Hahahahaha

[graham1ty] 20/2/2018 06:56

Tax, youkme, give it a break. It spoils the thread

[youkme] 20/2/2018 06:18

real big man behind that keyboard taxdodge. wonder if you would be like that face to face. we know the answer to that don't we? And I don't wind you up lol

[tax dodge] 19/2/2018 17:44

Also do your own research. What have I lied about. You are the one lying to your wife and losing her money then crying like a girl and blaming anyone and everyone you can because she left you, I can't blame her. You're a fool.

[youkme] 19/2/2018 16:17

Also Nick, what about the peeps buying in at 90p because of rampers. Cuts both ways don't you think

[youkme] 19/2/2018 16:15

Nick- fair play. Just you should have a more balanced BB and like Graham says above.
Tax is a liar so just ignore his post Nick. Good luck

[graham1ty] 19/2/2018 15:57

Nick, I have not just been commenting on this at 10p. But all the way down since 90p.

If I am proved wrong, then all humble pie will be eaten.

If ( not when) they sign another contract, then their past history will all be irrelevant, and can be archived. Until then, I think their failure to convert a contract for six years, and 24 fundraisings are rather relevant ?

Pray for an RNS tomorrow, then I will be gone !

[tax dodge] 19/2/2018 15:46

Youkme invested his wife's inheritance money and lied to his wife about it. Anyway long story short she threw him out and ran straight into bed with another man and he had to sell the shares losing 75k. He blamed PF for the fact he is still driving trucks for minimum wage and lost his wife and kids. Can't be his own stupid fault. But I do agree with you, some people could of sold out at 9p because of there rubbish and bitterness and lost out on over doubling there money. When you lose blame yourself.

[nick2412] 19/2/2018 15:11

Doesn't bother me unduly as shown by the rarity of my posts on here. I'm relaxed and confident about WSG getting the contract. It would be a pity though if someone with an agenda of bitterness scared other investors out of the stock as Graham tried to do at much lower levels. That's the issue I have with it. There are stocks I have sold where I don't like the Company, the board or the prospects but I wouldn't post negatively once I have sold. Each to their own I guess.

The animosity and rather desperate efforts to knock a company where the poster doesn't have a position is very odd. I suspect there is a bit more history to Graham's historic links to the Company or its personnel than he has revealed. It's a bit silly as well isn't it to suggest a placing is going to take place at 10p and then complain three days later when it is done with marginal discount and little dilution at 22p?

[youkme] 19/2/2018 10:57

Why does an alternative view bother you so much?

[jailbird] 16/2/2018 14:01

who are the mugs who keep lining the coffers of the BoDs..I mean look around the world ppl..millions wasted here

[graham1ty] 16/2/2018 11:13

Debt free ? It has Net Assets of under £1m and a Convertible of £2.2m

Sounds like rather highly geared to me.

Yes, will stop looking to the past WHEN, but only when, anything changes: if they ever convert one of the MOUs