Westside Acquisitions Share Discussion Threads

[rivaldo] 12/4/2004 09:35

Hi Simon,

Out of interest, from the York prospectus do you know what price RTI originally paid for their 2m shares - I assume it was less than 25p each?! And are their 450k warrants exerciseable at 50p, i.e the same price as those to be issued on float?

TIA

[simonevans] 11/4/2004 07:40

Brad44 - yes, this company has had a fairly torrid time - I bought in about a year ago. It seems to me that very few people have bought the shares over the last couple of years. However, the Company still has approx. £3m of cash and is capable of putting good deals together. It was targeted by Gledhow Investments a year or so ago, but managed to defend that through a share buy back, tender offer and acquisition of RTI. Hoping for some better news this year.

[carchase] 10/4/2004 21:16

Brad was it you trying to get hold of me?

[brad44] 10/4/2004 21:14

Hi Simon,

Didnt really expect to see you someone of your trading calibre on this thread!

I have noticed (and respected) some of your comments on other threads, eg mxc.

I have held these at ridiculous losses from the heady tech boom rto days..I must admit to giving up on them, looking to offset cgt at some point..especially with the floatation of good scout or whatever> but you have given mew new confidence in this, and will do a bit more research..

Maybe all is not lost. you will understand my dismay when I tell you I bought some @ 18p (ouch)

Regards and good luck on this one.

b

[simonevans] 10/4/2004 17:02

Seem to be talking to myself on this one....oh well........received the prospectus today - very interesting opportunity so I think I will invest. The CEO and COO have form - both good and bad (more bad recently it has to be said!). They built-up Bioglan Pharma into a significant pharma only for it to collapse a couple of years back. Clearly it all went very wrong, with significant amounts due to creditors and there was a lot of flack at the time. However, they certainly have the ability to make a small co. very big and may be more successful this time around. Clearly high risk, but looks interesting. I'll give it a go.

Anyone else got any views on York Pharma?

Westside - Spoke to Geoff Simmonds last week and he was very helpful. I like the way that they give small sharholders the opportunity to invest on similar terms. He indicated that they had a couple of other things on the go, but these were a bit further off. To be fair to Westside this is the second quality AIM IPO they have brought-off - Cheerful Scout still languishes below the listing price, but it is recovering from poor market conditions, has won awards and has prospects. What else may be on the cards?

I would expect them to try and demerge their soccer subsidiary at some point soon, but probably need to get it to cash break-even first.

[simonevans] 06/4/2004 18:57

There appears to be consistent low volumes of selling on this one. Not sure why someone would be selling at this low price, particularly with some good news a couple of weeks off. Very strange.

[simonevans] 01/4/2004 21:23

Well the news is out - anyone else had the letter through asking shareholders if they want to subscribe to the IPO of an IP technology company early in April? Prospectus due out next week.

[simonevans] 03/3/2004 19:20

Thanks. I think I would agree. Results may be out soon. Personally, I am hoping for some definitive news on AIM floats, but we will have to wait and see. Any thoughts?

[highland drovers] 03/3/2004 00:30

The company has shareholders approval to purchase shares. This is valid until the date given at the AGM, irrespective of any close periods. Shareholders gave their approval for the company to buy shares and as the company is the one to benefit, I can't see there being any rules against it.

[simonevans] 02/3/2004 19:58

Are you allowed to do share buy-backs in a close period? AIM rules don't seem very clear, apart from directors and officers not being allowed to deal.

[simonevans] 22/2/2004 08:52

I would hope we get some more positive news over the next 3 months or so: it will be interesting to see if any of their shell companies are close to being floated. The share price could do very well with a few deals imo. The Cheerful Scout deal shows that they have the ability to get a reasonable transaction away, so let's see what happens. If not, well not too much downside at this price imo. Gledhow Investments seem to have sold their stake on.

[alexandrews] 22/2/2004 02:45

Had a quick look at these when the FT listed them with a P/E of 0.6 - unfortunately far too good to be true as I discovered once I did a quick bit of research. Spread (2.0-2.75!) is quite unbelievable as well. Just going to keep half an eye on them for signs of life...

Good luck all.

Alex

[simonevans] 09/1/2004 21:43

Yes, he is the chairman.

[essemk] 09/1/2004 17:02

Good thread. Is Bruce Rowan also involved with Tiger resources?

[simonevans] 04/1/2004 17:17

zapdos - WJ Weston is part of the same concert party.

[highland drovers] 04/1/2004 14:37

Maybe I should start a new thread on a few of the other share I hold but no one seems to post on. Seems it gets everyone to come out of the woodwork. Nice to see there are a few WST holders about.

This one is going to need an RNS to get moving upwards again, but can't see it falling any further. Most holders seem to have decided to stick it out and see what happens, myself included. Plus, currently at about cash value and about 60% of asset value. Which, is normally where these small shares tend to sit.

[zapdos] 03/1/2004 09:26

Simon,

Well done for starting a new thread. Let's hope we see some action in 2004.

You mention that Gledhow has built a 9% stake, but I note that WJ Weston has also built up an 8.95% stake according to the RNS's, or are they one and the same ?

[simonevans] 02/1/2004 19:09

I've not spoken to the company directly. I guess that they have had a bad time post tech-bubble. Sorry to hear that you have made some sizeable losses. I guess that losses have only been significant for those investing in the tech bubble - same story for many such vehicles I guess. Difference here is that they haven't lost all the funds and still trade at the original AIM listing price. They have been a bit unlucky on some of their deals recently - Cheerful Scout was a good deal, but launched at just the wrong time for the corporate dvd market - things are now picking up. Applied Optical Technology turned the corner about a year after WST bought-in; timing not quite right, but could look a good deal in another 6m or so. My interest is in whether they can repeat the Cheerful Scout deal with other ventures and offer shareholdings a chance to participate in the offer for subsc.(as they did for Cheerful Scout). Let's hope so!

[monymano] 02/1/2004 12:59

Thanks for your summary se, it's good to hear that there is still some life in this one, although I'm careful not to hold my breath. I too have been in for a few years at near 20p and am holding out for an injection of good fortune. I hold near 10k and as mrm12 says, no good selling for some time yet.
Regards

[mrm12] 02/1/2004 12:09

Have you contacted the Company and asked them what they believe the share price will do(or at least what they hope it might do) over the coming 12 months? Might be worth a go.

I bought in many years ago at 20p. Only got 5000 shares and Ive written it off as a bad job. Pointless seliing now and you never know. WST might be 2004's YooMedia!!!

Good luck to you.

[simonevans] 09/4/2003 21:00

Take-up of the tender offer at 3p was low which indicates support for the company's strategy and so I am not surprised the price has improved. I did not take up and am willing to give the Board more time to demonstrate the validity of their strategy.

[mrm12] 09/4/2003 08:50

Can anyone explain the RNS and price movement?

[beastie] 24/3/2003 11:50

CAN ANYBODY SHED ANY LIGHT ON WHETHER THE PROPOSED SHARE BUY BACK AT 3p BY THE COMPANY SHOULD BE ACCEPTED?