Westmount Energy Share Discussion Threads

[p@] 06/1/2006 16:43

Nice one BOM.

[bitterlemontart] 06/1/2006 15:35

bomfin - just been pushing the WTE message around....serious CHART BREAKOUT for WTE now !

P.S. - well done for that great spot the other day !

[bionicdog] 06/1/2006 15:17

Only 10% up on half of the money that I've had invested for all of these years though isn't it.

[cwa1] 06/1/2006 15:01

Excuse me for a moment.....

:-)))))

OK, that's me. Feeling better now.

[bitterlemontart] 06/1/2006 14:33

According to the link Shadow gave me, it is not true that shares are not counted as business assets. Please read the following:

"Taper relief provides a valuable reduction in the capital gains tax payable on the
disposal of assets, especially those with qualifying business use. The 2000 Finance Act
extended the definition of a business asset; making the effective 10% capital gains
tax rate available to more taxpayers and the 2002 Finance Act reduced the minimum
holding period to obtain full business asset taper relief to only two years. The 2003
Finance Act extends the definition of a business asset even further, with effect from 6
April 2004.
Who Can Benefit From Taper Relief?
The rules apply to individuals, partnerships, estates and trusts. However, taper relief does not apply to entities liable to corporation tax (eg companies and unincorporated associations) for whom other tax rules, such as indexation relief, apply.
How Does Taper Relief Work?
The relief works by reducing the proportion of the capital gain charged to tax by reference to the length of time the asset has been owned. The maximum abatement is achieved after a holding period (defined below) of two years for business assets and ten years for non-business assets. Business assets (see overleaf) have a higher rate of relief than non-business assets.

What Rates Of Reduction Are There?
Gains on non-business assets are reduced by 5% per year, once the asset has beenheld for three years with a maximum reduction amounting to 40%. Business assets attract a maximum taper relief of 75% of the gain after two years of ownership. The table below illustrates the levels of relief according to the time held:

Number of years in qualifying holding period
Taper Relief %:
Business assets

1 50
2 75
3 75
etc.


What Shareholdings Constitute A Business Asset?
For disposals on or after 6 April 2000, the following shareholdings qualify as business assets:
any shares in an unquoted company (AIM-listed companies are treated
as unquoted); or a shareholding carrying at least 5% of the voting rights in a quoted company; or shares held by an officer or employee of that company.
The company must be a trading company or the holding company of a trading
group. Particular care is needed if the company holds or acquires investments (including surplus cash). However, the 2001 Finance Act relaxed this requirement for employees of non-trading companies or groups. They will be entitled to business asset taper relief if they own less than 10% of the shares(which will include most employees of quoted companies)."

[bitterlemontart] 06/1/2006 13:57

"Westmount also owns a potentially valuable 14.75 per cent stake in Eclipse, a company formed to exploit stranded gas reserves, which is rumoured to be planning a float later this year. Buy."

[bitterlemontart] 06/1/2006 13:57

"Westmount also owns a potentially valuable 14.75 per cent stake in Eclipse, a company formed to exploit stranded gas reserves, which is rumoured to be planning a float later this year. Buy."

[cwa1] 06/1/2006 13:48

Nice to see you're keeping up BLT :-)

[bitterlemontart] 06/1/2006 13:44

bomfin - sounds good....WTE @ 110p are at CHART BREAKOUT point !

[bomfin] 06/1/2006 13:28

If we get the floatation I'm hopeful it will go for £15/share. That would probably result in a near 50% rise for WTE share price.

A possible plan could be to issue 2 million shares at £15/share giving a market cap of around £60 million with £35 million in cash. This would leave £25 million value for the 11.25 million barrels gas reserves and wind farm project.

imho dyor

rgds bomfin

[mickinvest] 06/1/2006 11:25

500 shares seems to be the limit at the moment to buy at £1.10 but picked a few more up at £1.12, seems a bargain, WTE should add on anything upwards of 50% if this float goes ahead, well spotted Bomfin.

Mick

[mickinvest] 06/1/2006 10:38

Nearly bang on for the 2nd quote LOL!

I got 5k 15 mins ago at £1.10 :>))))))))))))))

Then asked them if I could purchase another 5k on another account and they quoted £1.15 :>((((((((((((((((

shouldn't grumble I suppose.

Mick

[cwa1] 06/1/2006 10:34

Hi Mick

Yes, a miserable 375 shares buyable online at the moment. Now for the phone call...

Mick: I'll have 5,000 of those Westmount shares then please
Market Maker: Moment, I'll need to phone up for you....

MM: You're not going to believe this but they laughed when I asked them for 5k at 110
Mick: Oh dear. What price are they selling 5k at?
MM: Moment.....he says he'll do you a favour and give them away to you at 117.
M: 117!!!!!! I want to buy 5k in shares I'm not bidding for the effing company!!!!

:-)

[mickinvest] 06/1/2006 10:21

Looking good, still he haw available online, time to start pestering over the phone for some :-)

mick

[bitterlemontart] 06/1/2006 10:07

"BLT, drywhite, it might be difficult for those waiting to get back in at current prices."


Certainly looks that way !

[cwa1] 05/1/2006 14:51

Superb bomfin. First quarter! Hope they can get it away in the current maket heights for oil and gasers, etc. Should get a tasty premium if they can.

[bomfin] 05/1/2006 12:55

I'm already back up to my holding before the 50p cash back.

BLT, drywhite, it might be difficult for those waiting to get back in at current prices.

If you can work out what was behind the changes then you might get a fair pointer towards the future share price movement. imho dyor

rgds bomfin

[*drywhite*] 05/1/2006 12:51

That will be impossible given the quantity of available equity.
MM's are now dealing only in 500's

[bitterlemontart] 05/1/2006 12:44

bomfin - also many WTE investors are reckoned to re-invest their 50p a share back into WTE which will obviously do the share price no harm at all !

[bomfin] 05/1/2006 12:40

First State AIM VCT has backed Eclipse Energy, 'an unlisted company intending to list in the first quarter of 2006 which aims to build a hybrid offshore electricity generation station'.