Westside Acquisitions Share Discussion Threads

[topvest] 15/3/2005 21:31

Rivaldo - I get about 8.3p. If you take the warrants into account, there is now no discount. I think something else is going on behind the scenes here. Maybe some good deals lined up for the Spring?

Westside Acquisitions
Price £'000

Market capitalisation
100,763,522 shares 0.078 7,809,173
13,033,168 warrants 0 651,658
Investments
York Pharma Plc
2,000,000 shares 1.97 3,940,000
450,000 warrants 1.40 630,000

Cheerful Scout Plc
20,000,000 shares 0.01 250,000
1,500,000 warrants 0.00 3,000

Applied Optical Technology
600,000 shares 0.33 198,000

Other assets at last reporting date 2,414,000

ADDleisure
21,540,000 shares 0.03 700,050
3,770,000 warrants 0.01 28,275

Westside Sports 200,000

Net borrowings - Discount

Adjusted net asset value 8,363,325 0.083 0.07

Discount 554,152

[rivaldo] 15/3/2005 17:44

Nice buy of 100,000 shares at 8p today.

Topvest, on the back of an envelope and calling YRK £2 and ADE 3.25p I make the current NAV 9p or just over.

Let's hope you're right about Westside Sports.

[topvest] 11/3/2005 19:56

Rivaldo - nav about 8p. The current price is interesting. I suspect something else is going on behind the scenes. Maybe a float of Westside Sports - let's hope so!

[rivaldo] 11/3/2005 12:14

A confident buy of 125,000 shares at 8p turns out the trigger for today's rise (the 30,000 could have been an early buy as well).

Not many shares around I'd guess.

[rivaldo] 11/3/2005 09:47

Well, YRK has dropped back a bit but WST continues to advance. The increased spread presumably indicates the MM's don't want to see buying interest as they're short of stock. I haven't re-calculated, but I'm guessing that NAV remains over 9p.

[rivaldo] 09/3/2005 08:11

Topman, I think I expressed myself badly! Believe me I'm in here long-term - the prospects are too good, the chances of participating in fresh spin-outs too tempting and the AIM tax breaks too good to make a quick turn...I simply meant I'll be topping up if the price drops.

[topvest] 09/3/2005 07:57

Rivaldo - well done. You seem to have turned a quick profit on this. I'm in longer term. I think it's fair to say that the IPO bull market is very much aroung listing shells before the rules change. Conditions on other IPO's are much the same as last year imo.

[rivaldo] 08/3/2005 22:37

Completely agree - the intitial 2.5p hike was incredible and probably provoked some selling. The amount of new IPO's on AIM is ridiculous, but it's a bull IPO market and the window will close at some point - now is the perfect time for another float.

In the meantime the NAV is well over 9p imo. If the WST price comes back I'll be in for more.

[topvest] 08/3/2005 21:44

I get the feeling something else is going on here, on-top of the York Pharma rise. Massive hike on opening. Is another float around the corner I wonder?

[zapdos] 08/3/2005 13:35

Pricing looks a bit strange. The 8,000 @ 8.3p was a sell (mine), but still holding some for the future.

[shirishg] 08/3/2005 12:25

Post removed by ADVFN

[rivaldo] 08/3/2005 12:13

Hey, a profit's a profit Mark. I have to say though, YRK always seemed like it had a long way to go - it's price always finds support and from memory the major shareholders are locked in for a year (correct topvest?).

YRK is up to 218p. I make the WST NAV about 9.6p now.

[mark c graham] 08/3/2005 12:00

Ouch - sorry I missed out on this. Congratulations to all those still holding.

[topvest] 06/3/2005 13:32

Rivaldo - I don't think so. WST only list shells when they have a business to run. I think that there concept is clearly better suited to the "post-rule change" period. Think any deals are a couple of months off, but may be wrong. We may get some news with the results. Anyone spoken to management on timing of the results this year?

[rivaldo] 06/3/2005 11:43

Hope so topvest. I'm sure Simmonds said to me he hoped for one a quarter, but that's a bit ambitious I suspect. Mind you, the rules on cash shell listings are changing soon - perhaps WST will jump on the bandwagon and start up a couple of their own whilst they can?

[topvest] 05/3/2005 17:47

Rivaldo - Yes, this one does look good. I think YRK have a lot further to go as the story unfolds. I've said it before, and I'll say it again. I think they could be heading for the FTSE 250 in a year or two. That would be very nice for WST. One thing I really like this company for is the deals they bring to shareholders. The YRK offer for subscription was fantastic and CLS and ADL were also very good. I think they will deliver two more this year.

[rivaldo] 05/3/2005 11:27

YRK closed at 210p, adding another £240k to the above NAV. And there's rumours in the press today of a major JV for YRK, which should keep the price bubbling.

The YRK board is full of speculation about broker's notes and prices of £5 upwards a share for YRK. Buying WST is the less risky way in, but with virtually the same upside except for the usual investment company small discount to NAV.

Nice 75k buy at 6.75p on Friday too.

[rivaldo] 04/3/2005 10:38

YRK is up 18p today to 201p.

WST's stake is therefore worth £5.1m. It has cash of around £2.5m, stakes of £1.3m in ADE and CLS, plus The Elms which we'll call £0.3m

There are actually 100m shares in issue now, so WST's m/cap is £6.25m. This compares to the above assets of £9.2m, or 9.2p per share compared to the offer price of 6.75p.

Simple really!

[rivaldo] 03/3/2005 21:46

No reason for profit-taking yet imo. If the NAV is over 9p and even the offer price is only 6.75p what's the point in selling - especially when we may get another spin-out at any time?

Unless you think YRK is going to crash. But YRK looks well set to carry on advancing at present with a small free float and an 80p price floor, so WST will hopefully ride along with it.

[brad44] 03/3/2005 18:29

are we just taking a breather before forging on up to my 12p purchase price of many many years ago, or is that it for now and some steady profit taking? nice to see that this investment vehile is doing well!

[rivaldo] 03/3/2005 14:39

Good luck HD. At present I can only see upside due to YRK, and even if YRK were to slip, downside is palatble and I want to remain a shareholder to participate in new WST IPO's.

YRK now up 21.5p at 186.5p! WST's stake is now worth £4.65m, and WST's NAV is now over 9p imo. WST offer price - 6.75p.

[highland drovers] 03/3/2005 13:27

Sold out just now. Price has spiked too much for me, even for a rerating. Will be back later at a lower price, I hope.

[rivaldo] 03/3/2005 11:26

YRK is up another 5p today - another £130k on the NAV.

At 6.25p WST's NAV is £5.9m. The YRK holding is now worth £4.3m, and WST has around £2.4m of cash plus the other holdings in ADE, CLS and The Elms. Plus (hopefully) more spin-out companies this year.

[spookies] 02/3/2005 19:53

A few years back I was offered some shares and warrents in RTI which I bought and I can not find them anywhere. Has anyone got a contact address for the companys regisrars?. I moved house 3 years ago and I dont think I notified them of my address change. Also is there a ticker symbol for RTI and what market are they on?