Westside Acquisitions Share Discussion Threads

[29palms] 12/1/2007 23:34

Riv, I'm also here and have been for some time....LOL
This one retreated 6.7% today to £3.7m mcap while their holding in York Pharma is valued at £2.2m!!
That equates to more than 50% of the co's mcap!!!
When will the investment community wake up and smell the coffee with this one??
Or, is it that I have vision while the rest are wearing bi-focals??

Still holding.

[maytrees] 29/12/2006 11:58

Spread has been far too high to encourage much investment.
Still high but after the past couple of bid share price tick ups, now
at least nearer AIM average

[rivaldo] 29/12/2006 11:56

So there's more than just me and thee here then maytrees :o))

Not sure how much new blood a 71 year old has....! Doesn't really matter, he can hardly have much to do for WST other than update the investment portfolio spreadsheet every month.

Good to see AKG holding at a decent price. Only needs YRK to surge and we'll see action here, just a question of patience - and the rest of the portfolio is looking better too.

[maytrees] 29/12/2006 10:06

Bid share price up again today because of or perhaps despite, the intoduction
of new blood at FD level:

Extract from RNS today reads:

"
David Hillel, aged 71, has been appointed as Finance Director and
Company Secretary from 31 December 2006..."

I hold but did not add the 50,000, rivaldo!

[rivaldo] 28/12/2006 21:43

Come on then, own up, who bought the 50k?!

[maytrees] 29/11/2006 15:14

WST shares I hold too. Co seems on paper to be attractive:

Its investments doing well, profitable; divi no cash calls
imminent, yet the share price languishes. Possibly so many previously
issued warrants still being cashed in, are a drag on the share price
The only warrants I hold can be exchanged for shares in WST
at 8p sp!

[rivaldo] 29/11/2006 15:08

Per today's RNS it seems Bill Weston is actually up to 13.75m shares (12.36%).

Quite a bet for an illiquid micro-cap.

[rivaldo] 24/11/2006 12:11

Bill Weston has bought another 500k at 3.5p and is up to 12% (13.25m shares):



FYI this is him:

"Mr. Weston has many years experience in the City having previously been a
senior partner for 15 years with Foster & Cranfield, the financial assets
auctioneer. While there, he was instrumental in acquiring Philips Auctioneers
in a JV with 3i, after which the enlarged company was acquired by LVMH. Trained
as an engineer, Mr. Weston began his career in motor racing, driving Lotus
Sevens, after which he moved to ship broking and was a founding member of MGS
Ship Brokers. He is currently involved in a number of growth companies and is a
director of Gailfield Ltd, the private investment fund.

Pantheon CEO Barbara Moss said: "Bill is an extraordinary character with a vast
number of contacts in the City. We continue to explore acquisition targets that
complement our operating subsidiary, The Elms, and believe that with Bill's
help we can both push these forward and source other potential deals."

[topvest] 18/11/2006 08:39

WST sold their Cheerful Scout warrants like this as well. Not sure that it's really worth it for £15k, but I'm sure that they will hold the shares they own longer term.

[rivaldo] 17/11/2006 14:34

Looks like WST has raised all of £15k in selling its 10m AKG warrants!



Mind you, AKG's share price has held nicely at 5.5p (despite Hoodless being involved again), and it announced a nice deal the other day.

[rivaldo] 10/10/2006 12:41

LOL! Fair point ursamajorra....I'm amazed you managed it that quickly :o))

Astek have confirmed their IPO for 16th October - WST have 28.5%, i.e £1m at 5p. I'm willing to bet WST probably got their founder shares at 1p or 2p...and WST have 10m warrants too:



EDIT - RNS on 18th October now says AIM admission will be by 31st October.

EDIT2 - now set for 25th October! EPIC is AKG.

[ursamajorra] 29/9/2006 08:15

rivaldo,why would you want "just a link" after i spent 2 hours re-typing the results for you.

[topvest] 28/9/2006 22:10

Rivaldo - yes, YRK is the big one! Still holding and waiting for the news on YRK. Can't be that far off now.

[rivaldo] 28/9/2006 09:44

Ursamajorra, just a link to the RNS would do rather than copying the whole thing :o))

Topvest, great spot! I looked at the original RNS and completely missed RTI's involvement since the important 3 letters all ran into the general text. I agree your numbers by the way.

Just recalculated the NAV, which is looking, erm, interesting...though highly illiquid. YRK is the key for me at present.

[ursamajorra] 28/9/2006 08:12

RNS Number:5741J
Westside Acquisitions PLC
27 September 2006

WESTSIDE ACQUISITIONS PLC
CHAIRMAN'S STATEMENT AND CHIEF EXECUTIVE'S REVIEW
FOR THE SIX MONTHS ENDED 30 JUNE 2006

We are pleased to make our interim report in respect of the half year ended 30
June 2006.

Operating Results

In respect of the half year to 30 June 2006, the Group incurred a loss on
ordinary activities before taxation of #407,114 (30 June 2005 - #309,706).

An analysis of the Group loss, is as follows:

Unaudited
6 months to 30 June
2006 2005
# #

Parent company 137,994 127,965
Pantheon Leisure (including The Elms) 96,730 -
The Elms - 15,269
RTI 150,359 139,627
Amortisation of goodwill 22,031 22,031
Other losses - 4,814
________ _______
Loss on ordinary activities #407,114 #309,706
________ _______

It is not the intention of the Board of Westside to pay an interim dividend.

Reverse Take-Over Investments Plc (RTI)

The market value at 30 June 2006 of the investment portfolio held by RTI was
#3.15 million against book cost of #552,000.

The ordinary shares and warrants in all of the companies which comprise the RTI
listed portfolio trade on the AIM market. Each of them has benefitted from
positive developments announced in the first half of our trading year.

In March 2006, Cheerful Scout plc -- where RTI holds 20 million ordinary shares
-- announced new contract wins from The Central Office of Information (COI), The
Home Office and Directorate of Optometric Continuing Education & Training
(DOCET). Cheerful also announced that it had secured a 2 year contract with
leading law firm Allen & Overy to supply creative consultancy work.

In April 2006, Messaging International plc -- where RTI holds 20 million
ordinary shares -- announced that its subsidiary Telemessage (TM) had expanded
its relationship with Sprint / Nextel, a leading Tier 1 USA mobile network
operator, through the launch of its proprietary "Text to Landline" solution. The
Telemessage (TM) software solution is being made available to over 50 million
mobile phone subscribers on both the Sprint and Nextel networks.

In May 2006, ADDleisure plc -- where RTI holds 22.54 million ordinary shares --
announced that its 50.2% subsidiary, Digital Plantation Ltd, had won a contract
with Mspa International Ltd to install Ez-Book on-line management software in
its spa properties. Mspa operates some 25 spa properties across Asia, the Middle
East and Africa and the Ez-Book software will use English, Chinese and Asian
characters as required.

ADDleisure also announced in June 2006 that its 75% owned subsidiary, Fitbug
Ltd, had won a contract to supply memberships of fitbug.co.uk to PruHealth
policyholders. PruHealth is a leading innovative private medical insurance group
with more than 50,000 policyholders who will be offered fitbug memberships as
their on-line personal health and well being coach.

In May 2006, York Pharma plc -- where we hold 2 million ordinary shares --
announced progress in the development of 2 of the products in its portfolio -
Abasol (TM) and Sabarep (TM).

Abasol (TM) is a new chemical entity which uniquely has both fungicidal and
fungistatic properties. This dual function differentiates Abasol (TM) from
existing treatments which feature one property only. The topical antifungal
market in which Abasol (TM) will compete is estimated to be worth $2.4 billion.

Sabarep (TM) is a novel treatment for eczema and related diseases of the skin. A
UK Government report has estimated that some 18 million people in Britain will
at sometime in their lives suffer from eczema and related skin diseases or
allergic skin conditions. Saberep (TM) will compete in a market estimated to be
worth $2.5 billion.

We believe that our shareholders will appreciate the diversity of the RTI
portfolio and the potential within it for further capital appreciation once
market conditions improve for AIM companies.

Pantheon Leisure Plc

Pantheon acquired the entire share capital of The Elms Group Ltd in September
2005 from Westside, by way of a share for share exchange, and, as a result, we
hold 75 million ordinary shares representing 62.5% of the Pantheon issued share
capital. The results of Pantheon for the 6 months ended 30 June 2006 are
accordingly consolidated in the Westside figures.

In the half year to 30 June 2006 Pantheon incurred a loss before taxation of
#96,730.

The Elms continues to make a substantial investment in both time and money to
develop and expand its involvement in children's leisure activities through its
"Sport in Schools" initiative.

We believe that the financial position of Pantheon, where cash balances are
around #1 million, and the future contribution of The Elms will enable Pantheon
to develop as a successful Company on AIM.

Financial Position

Our financial position remains exceptionally strong with the combined value of
cash balances and the market value of our investment portfolio exceeding #5.88
million.

Conclusion and Future Prospects

Subject, of course, to market conditions we believe that the second half of the
year should reflect some renewed progress in the valuation of our investment
portfolio.

Richard L. Owen
Geoffrey Simmonds
27 September 2006

WESTSIDE ACQUISITIONS PLC
CONSOLIDATED PROFIT AND LOSS ACCOUNT
FOR THE SIX MONTHS ENDED 30 JUNE 2006

Notes Unaudited Unaudited Audited
6 months to 6 months to 12 months to
30 June 30 June 31 December
2006 2005 2005
# # #

TURNOVER 4 343,236 276,535 803,848
Cost of Sales (304,690) (208,654) (690,696)
________ ________ ________
GROSS PROFIT 38,546 67,881 113,153

Administrative expenses (507,542) (415,487) (883,454)
________ ________ ________

OPERATING LOSS (468,996) (347,606) (770,301)

Profit on Sale of Fixed Asset - - 156,799
Investments
Profit on deemed partial - - 695,110
disposal of subsidiaries
________ ________ _________

(LOSS) PROFIT ON ORDINARY (468,996) (347,606) 8,608
ACTIVITIES BEFORE INTEREST AND
TAXATION

Interest receivable 62,443 37,900 69,686
Interest payable (561) - (153)
________ _______ ________

(LOSS) PROFIT ON ORDINARY (407,114) (309,706) 151,141
ACTIVITIES BEFORE TAXATION

Tax on profit (loss) on ordinary - - -
activities
_______ _______ ________
(LOSS) PROFIT ON ORDINARY (407,114) (309,706) 151,141
ACTIVITES AFTER TAXATION

Minority Interest 36,275 - 25,087
_______ ________ ________

(LOSS) PROFIT FOR THE FINANCIAL (370,839) (309,706) 176,228
PERIOD
________ ________ ________
BASIC (LOSS) EARNINGS PER SHARE 5 (0.333p) (0.309p) 0.175p

DILUTED (LOSS) EARNINGS PER 5 (0.333p) (0.309p) 0.152p
SHARE
__________ ________ ________

WESTSIDE ACQUISITIONS PLC
CONSOLIDATED BALANCE SHEET
FOR THE SIX MONTHS ENDED 30 JUNE 2006

Notes Unaudited Unaudited Audited
6 months to 6 months to 12 months to
30 June 30 June 31 December
2006 2005 2005
# # #
FIXED ASSETS
Intangible assets 320,786 364,848 342,817
Tangible assets 27,227 54,501 40,836
Investments - 160,000 -
_______ _______ _______
348,013 579,349 383,653
_______ _______ _______
CURRENT ASSETS
Debtors 254,405 150,972 132,842
Investments 552,000 502,000 552,000
Cash at bank and in hand 2,730,875 1,923,673 3,024,357
________ ________ ________
3,537,280 2,576,645 3,709,199
________ ________ ________

CREDITORS: amounts falling due
within one year
Deferred income (184,739) (264,579) (138,939)
Other creditors (215,538) (179,627) (61,783)
________ _______ ________
(400,277) (444,206) (200,722)
_ ________ ________
NET CURRENT ASSETS 3,137,003 2,132,439 3,508,477
________ ________ ________
TOTAL ASSETS LESS CURRENT 3,485,016 2,711,788 3,892,130
LIABILITIES
________ ________ ________
CAPITAL AND RESERVES
Called up share capital 1,112,368 1,002,055 1,112,368
Share premium account 292,106 99,058 292,106
Capital Redemption Reserve 182,512 182,512 182,512
Merger Reserve 325,584 325,584 325,584
Profit & loss account 1,217,674 1,102,579 1,588,513
________ ________ ________
SHAREHOLDER'S' FUNDS - EQUITY 3,130,244 2,711,788 3,501,083

Minority Interest - Equity 354,772 - 391,047
________ ________ ________
TOTAL CAPITAL EMPLOYED 3,485,016 2,711,788 3,892,130
________ ________ ________

The accounts were approved by the board on 27 September 2006
And signed on behalf of:

Richard L. Owen Directors
Geoffrey Simmonds

WESTSIDE ACQUISITIONS PLC
CONSOLIDATED CASH FLOW STATEMENT
FOR THE SIX MONTHS ENDED 30 JUNE 2006

Notes Unaudited Unaudited Audited
6 months to 6 months to 12 months to
30 June 30 June 31 December
2006 2005 2005
# # #
Net cash outflow from operating 2 (355,364) (120,438) (734,865)
activities
________ ________ ________

Returns on investments and
servicing of finance
Interest received 61,882 37,900 69,533
________ _______ ________
61,882 37,900 69,533

Capital expenditure and
financial investment
Payments to acquire tangible - (75,000) -
fixed assets
Recewipt from sale of fixed - - 316,799
asset investments
________ _________ ________

Net cash outflow from capital - (75,000) 316,799
exependiture and financial
investment activities
_________ _________ _________

Cash outflow before use of (293,482) (157,538) (348,533)
liquid resources and financing
_________ _________ _________

Management of Liquid Resources

Payments to acquire current - - (125,000)
asset investments

Financing
Issue of ordinary share capital - 650 304,011
Cash acquired on deemed partial - - 1,127,244
________ _________ _________
Net cash inflow from financing - 650 1,431,255
________ _________ _________
Decrease in cash in the period 3 (293,482) (156,888) 957,722)
________ _________ _________

FINANCIAL INFORMATION

The interim results for the six months ended 30 June 2006 are unaudited and do
not constitute accounts within the meaning of section 240 of the Companies Act
1985. The interim results have been drawn up using accounting policies and
presentation consistent with those applied in the audited accounts for the year
ended 31 December 2005. The comparative information contained in this report for
the periods ended 30 June 2005 and 31 December 2005 does not constitute the
statutory accounts for that financial period. The accounts to 31 December 2005
have been reported on by the Company's Auditors, BDO Stoy Hayward LLP, and
delivered to the Registrar of Companies. The report of the Auditors was
unqualified and did not contain a statement under section 237(2) or (3) of the
Companies Act 1985.

Where necessary, the accounts to 30 June 2005 have been restated to reflect the
accounting policies and presentation adopted in the accounts to 31 December
2005.

RECONCILIATION OF OPERATING LOSS TO NET CASH OUTFLOW FROM OPERATING ACTIVITIES

Unaudited Unaudited Audited
6 months to 6 months to 12 months to
30 June 30 June 31 December
2006 2005 2005
# # #
Operating loss (468,996) (347,606) (770,301)
Costs relating to deemed partial - - (16,000)
disposal of subsidiary
Depreciation of tangible fixed 13,609 16,247 29,912
assets
Amortisation of goodwill 22,031 22,031 44,062
Increase in debtors (121,563) (76,606) (58,476)
Increase in creditors 199,555 265,496 35,938
_________ ________ _________
Net cash outflow from operating (355,364) (120,438) (734,865)
activities
_________ ________ _________

ANALYSIS OF NET FUNDS

At 31 December Cash Flow At 30 June
2005 2006
# # #

Cash 3,024,357 (293,482) 2,730,875
Other Liquid resources 552,000 - 552,000
________ ________ ________
3,576,357 (293,482) 3,282,875
________ ________ ________

TURNOVER

Unaudited Unaudited Audited
6 months to 6 months to 12 months to
30 June 30 June 31 December
2006 2005 2005
# # #

Small sided football leagues 343,236 276,535 803,848
Investment - - -
_______ _______ _______
343,236 276,535 803,848
_______ _______ _______

BASIC AND DILUTED LOSS PER SHARE

The basic and diluted loss per share at 30 June 2006 have been calculated on the
Group's loss on ordinary activities after taxation attributable to shareholders
of #370,839 and on the weighted average number of shares in issue during the
financial period, which was 111,236,800.

The basic and diluted loss per share at 30 June 2005 have been calculated on the
Group's loss on ordinary activities after taxation attributable to shareholders
of #309,706 and on the weighted average number of shares in issue during the
financial period, which was 100,191,082.

he basic earnings per share at 31 December 2005 has been calculated on the
Group's profit on ordinary activities after taxation attributable to
shareholders of #176,228 and on the weighted average number of shares in issue
during the financial period, which was 100,552,588.

The diluted earnings per share at 31 December 2005 has been calculated on the
basis that the outstanding options had been converted on 1 January 2005. This
assumption increases the Group's weighted average number of shares to
115,762,588.

This information is provided by RNS
The company news service from the London Stock Exchange

END
IR EDLFLQKBZBBE

[topvest] 26/9/2006 20:21

Looks like WST will own just less than 30% if I am reading the announcement correctly which would be worth a £m or so. Anyone else agree?

[topvest] 26/9/2006 20:20

Good news for WST here:

[zapdos] 25/9/2006 12:39

YAWN.


Does WST still have a stake in Cheerful Scout ?, up 37% today as I type, results due October.

[topvest] 11/8/2006 20:49

From the Companies House web-site, it looks like RTI Twenty are about to have the Astek Group reversed into it, given the change in name. A quick search on google revealed this:

"Dentists get their teeth into AIM

A COMPANY set up two years ago by a pair of dentists to sell dental equipment is planning a £4m flotation on AIM.

Astek Group, headed by co-founder and chief executive Alan Segal, distributes about 200 different products to dentists, such as the Pro-Tip air-and-water spray.

The company, which had sales of almost £900,000 last year, has hired HB Corporate as nominated adviser and broker. It sees strong growth ahead. The UK dental-equipment market is worth about £170m. Astek exports to 30 different countries."

Should be good news for WST.

[maytrees] 06/7/2006 15:21

As to the frequent small sales of WST shares:
Holders of the 2005 warrants,
having converted at 2.75p sp, may simply be content to take
profits, by selling at c.3.10p bid share price

All imho so dyor.

[maytrees] 06/7/2006 13:25

More WST sales lead to small share price fall and a spread of over 35%.
MMs don't seem to want to trade these shares at all.
Why not? Is another question to be added to my list above.

[maytrees] 06/7/2006 08:11

Greetings topvest
And tx.
Nice to see that some one else is still interested in WST.

[topvest] 05/7/2006 21:26

I was pleased with the warrants - WST have always been keen on issuing warrants and it is a cost effective way of rewarding shareholders + raising cash in the future. Not an unrealistic issue price for a few years down the track. I think that you will find that the cash balance is a bit higher than the reality as £1m+ is held by Pantheon which is still consolidated at the moment. There is little interest in WST, but they are doing ok in my opinion, without setting the world on fire. Directors' emols. a bit on the steep side though at £315k in 2005. 2006 has been a bit quiet to date - I would like to see them get 1/2 more IPOs away. The main test for 2006 though is whether York Pharma get their main product, Abasol, to market. News expected in the next quarter or so.

[maytrees] 05/7/2006 19:47

I hold a few WST but am curious to know why:

nms is so tiny?
what was the point of WST issuing warrants with the divi to holders
this month on the following terms:

"bonus issue to shareholders of a new
Warrant Instrument. The Warrant will be unquoted and carry the right, at any
time during its five year life, for holders to subscribe for new Westside
ordinary shares at 8.25p per share. Shareholders on the share register as at
close of business on 21 July 2006 will be entitled to a bonus issue which will
be allotted on the basis of one Warrant for every six ordinary shares held."

When current offer share price is only 4.25p?

Why when divi/warrants will be credited in a couple of weeks
there is a constant stream of small sales at 3.25p?

What will be done with the WST cash pile
described on 30th May 2006 as:

"Healthy cash position with £3,024,357 cash at bank and in hand"?

Why there is so little interest in this profitable divi paying
AIM co?

[zapdos] 30/5/2006 08:05

Dividend payment recommended !