White Young Share Discussion Threads

[dixi] 11/3/2009 16:03

Priced to go bust now!

[chrisjg] 11/3/2009 15:51

what happened here today - miserable!!! :-(

[dickbush] 11/3/2009 13:12

The only question is did they jump or were they pushed. The company is in danger of exceeding its covenant on Net Debt/EBITDA, but, ex "exceptionals", the EBITDA easily covers net interest and it should be supported by its bankers. Someone needs to run along to Lloyds who are supposed to be boosting their lending.

[jotoha2] 11/3/2009 10:41

Not much chance of that , debt for equity most likely , not pleasant!

[u813061] 11/3/2009 09:17

The rats leave the sinking ship. They don't want it on their cv that they were a director at the time the company went into administration.

[tonester30ccfc] 11/3/2009 07:27

Too many board changes of late. A sign of a company in turmoil?


White Young Green plc


Board changes


White Young Green plc announces the following Board changes.


Peter Wood has notified the Board of his need to step down as Chairman and as a member of the Board on 31 March 2009 for important personal and family reasons. The Board wishes to thank Peter for his outstanding contribution and extends its best wishes to him and his family. Brian Duckworth, who has been a Non-Executive Director of the Group since 2005, will assume the role of Non-Executive Chairman from 1 April 2009 until the Board makes a long term appointment in due course.


Paul Hamer, currently Group Managing Director, becomes Chief Executive Officer with immediate effect. This promotion recognises the significant contributions that Paul has made to the business since he joined.


In addition, Bob Hartley has notified the Board of his intention to resign as
Services Director and leaves the Group on 30 June 2009. Recruitment isunderway for a successor. The Board wishes to thank Bob for his contributions to the Group over many years.

[chrisjg] 10/3/2009 15:52

Well, I am afraid I have taken the hit and halved my holding in WHY - I hope for better times and a recovery for shares I have left.

I have decided to move the funds to a stock I hope will perform better, still a risky move as I averaged down further in IQE.

all the best Chrisjg

[blueflex2] 08/3/2009 21:24

without extra funding, £40m, can they still operate under tight credit market? it is a big ask. It looks like Grontmij could buy it for cheap share price

[dixi] 07/3/2009 21:23

Well I left this party at about 3+ quid, but looks like my soft spot for WHY is about to vanish with the company!!

[tonester30ccfc] 07/3/2009 19:36

dixi,

Raising £40m? The guy is on a different planet!

[dixi] 07/3/2009 17:12

If ADVFN mcap is correct, they intend to raise 4 x the current mcap in todays climate???

Is this realistic - does the mcap therefore increase by a factor of four, or the shareprice quarter from here??

Sad days indeed!!!

[rik shaw] 07/3/2009 08:47

Building Magazine article again:



rik

[chrisjg] 28/2/2009 13:24

double post

[chrisjg] 28/2/2009 13:24

neilrr - cant say I am topping up again this is a blow and I did not see that it was going to be as bad as it was. This has put a huge dent in my portfolio - I just have to hope they manage to steer the business through these times as I am long at 117p!! I have lost so much it is hardly worth selling.

Frankly my investments have been pummelled from all sides, it seems I have picked the worst shares for the current times, and I am now 63% down.

hoping for better times all the best chrisjg

[rik shaw] 26/2/2009 22:55

Last trade shown on ADVFN after market close was 10k buy at 25p but last quoted spread looks like 21-23p just before close of market.

Another article in Building:

[neilrr] 26/2/2009 22:36

What did this close at today?

I'm seeing different figures in different places.

Anyone got a definititve number?

[onlythebest2] 26/2/2009 15:11

and get a loan to do it ;-)

[neilrr] 26/2/2009 14:58

They should buy their little bit back for peanuts with the 50% they got in cash.

[tonester30ccfc] 26/2/2009 14:46

The entrepreneurs that sold their businesses into WHY for 50% cash, 50% paper must be feeling pretty pig sick now.

The paper part of the deal has seen a 93% destruction in value in just 12 months

[tonester30ccfc] 25/2/2009 15:14

White Young Green warns of covenant breach risk
25 February, 2009

By Tom Bill

Consultant in talks with lenders as net debt rises 30% amid poor market conditions

Engineering consultant White Young Green has said it may breach one of its banking covenants as a result of poor market conditions.

The warning follows a 30% increase in net debt from £70.6m to £91.5m at the end of 2008.

At the announcement of its results for the six months to 31 December 2008, the company said: "The group's lenders have been informed of these circumstances and discussions with them regarding a remedy of a potential breach have commenced."

Its share price fell 34% to 31p following the news.

Turnover in the period rose 8% from £134.1m to £144.5m but the company made a loss of £2.1m due to exceptional items of £11.1m. Bad debt accounted for £8m of the sum.

The company also announced that it had cut 235 jobs from its estimated 3,500 staff - representing about 7% of its workforce.

Chairman Peter Wood said: "The board has reviewed the group's operations and has taken a number of decisions to tackle the issues given the current economic climate. These include a review of the group work in progress and debtor position and swift and substantial cost reduction initiatives involving a reduction in headcount and a streamlining of the business."

[u813061] 25/2/2009 15:13

Markie, totally agree. Huge increase in net debt. Goodwill exceeds the value of net assets. The fact there was no impairment charge shows that the auditors are a light touch.