Westside Acquisitions Share Discussion Threads

[kemorkid] 11/6/2004 12:11

Whats going on her then-keep it blue?

[brad44] 31/5/2004 02:28

yes I am in cdn,

what is your point? or have you lost the ability to converse?

[simonevans] 27/5/2004 21:35

Yes, we will have to wait for the accounts - interesting that there was no segmental split this time. £100k of it was due to the costs of the RTI deal.

[brad44] 26/5/2004 22:15

Hi Simon,

I share your concern on the above loss in H2, very odd?

[simonevans] 26/5/2004 21:44

Well, generally encouraging - The Elms now just about profitable and lots of other reverse takeover opportunities. Not sure why they lost quite so much in H2 though.

[opthalmist] 26/5/2004 09:29

RNS Number:0780Z
Westside Acquisitions PLC
26 May 2004


WESTSIDE ACQUISITIONS PLC

("Westside" or "the Company")


CHAIRMAN'S STATEMENT AND CHIEF EXECUTIVE'S REVIEW

The audited accounts for the year ended 31 December 2003 show a loss after
taxation of #554,722 (2002 - loss #1,003,461). Westside's cash balances as at 31
December 2003 were #2,643,440 or 2.8p per Westside share.

The first half of the year was dominated by the offer Westside made in March
2003 to acquire the issued share capital and warrants of Reverse Take-Over
Investments Plc (RTI) which it did not already own. The offers were declared
unconditional on 30 April 2003 and, consequent to the exercise of compulsory
acquisition powers, the Company now holds 100% of the share capital of RTI and
all of the warrants issued by RTI.

In March 2003, we also made a share tender offer to Westside shareholders and,
as a result, a total of 13,085,898 Westside shares were bought back at 3p per
share and acquired at a cost of #392,577. In addition, under the authority
granted under Section 166 of the Companies Act 1985 (as amended), we purchased
for cancellation in the year a total of 4,585,287 Westside shares at a cost of
#137,559. The loss for the year incorporates expenses of #99,900 which are
directly attributable to the share tender offer and the costs of the Court
application.

Football Partners Limited - our wholly owned subsidiary - trades as The Elms and
is London's leading provider of five a side football. We are pleased to report
that The Elms turnover for the year increased by 17.6% to #840,305 (2002 -
#714,177) and a small profit before tax of #38,284 was made. The trading results
of Football Partners represents a significant achievement compared to last year
when a loss of #177,362 was incurred. This improvement of some #215,000 over a
12 month period is due to the receipt of #50,000 sponsorship from Westside, a
tighter control of costs and to the closure of certain unprofitable leagues
where it had proved difficult to secure sufficient team participation.

In the second half of the year, we saw an improvement in Stock Market conditions
and we benefited from an increased demand by companies to secure public company
status through reverse take-overs. As a consequence, RTI has developed a
pipeline of potential transactions some of which are expected to be concluded in
the current year.

At the date of this Report, RTI continues to hold 20 million shares in Cheerful
Scout plc and also holds 2 million shares in York Pharma plc - the latter were
admitted to trading on AIM on 26 April 2004.

In our statement last year, we expressed the view that market conditions would
create investment opportunities for companies with cash resources available. We
continue to believe that the substantial cash resources available to Westside
will enable us to pursue our stated strategy of investing in and developing
corporate opportunities. A large percentage of the proposals we are currently
reviewing involve the use of the RTI business model - which we regard as an
encouraging trend for the future.

[simonevans] 24/5/2004 21:32

not sure - about time for the results though!

[opthalmist] 24/5/2004 14:17

200k at 3p looks like a buy. Largest trade for a while. Is Weston upping his stake again?

[sandbank] 14/5/2004 21:08

Ta Simon. Wait and hold seems the strategy at the moment

[simonevans] 14/5/2004 20:45

No idea, but I am giving management the benefit if the doubt...York Pharma deal shows that they can bring some interesting co's to market. Results due soon and hopefully another reverse takeover in the summer/autumn.

[sandbank] 14/5/2004 13:16

SIMON EVANS; Where is this one going do you think?

[opthalmist] 30/4/2004 10:02

Check out CPM results today. Another fairly illiquid one due a large re-rating.

[nissi beach] 30/4/2004 10:00

oh dear looks like you have picked some duff ones. WST just might take a little longer than i hoped but it is those that get bored that lose money in these kind of stocks

[23john] 29/4/2004 19:54

Mr Cliffs, sarcasm does not become you.

[canford cliffs] 29/4/2004 14:52

well - is that our little bit of action for another 3 years........

[willybaby] 29/4/2004 10:50

Cheerful scout down 20% today on no volume!

[willybaby] 29/4/2004 10:49

i apologised for that yesterday nissi. And my last two posts i had to delete, was commenting on an RNS for cheerful scout, but then realised i was 1 month out of date!!

[nissi beach] 29/4/2004 09:53

come on guys doing that is more likely to put people off than encourage them to buy

All you need to point out is a small investor is mopping up all the spare stock and ask your self why he has added

you don't buy that amout as a punt

At that rate a takeover is coming in august maybe more time is required for the next jump

[opthalmist] 28/4/2004 16:48

I should know, I've got 455 BIP shares @ 6p, worth a whole £27!

[dj_curtis] 28/4/2004 16:40

Thanks Opthalmist, good point.