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Share Name Share Symbol Market Type Share ISIN Share Description
Work Service S.a. LSE:WSE London Ordinary Share PLWRKSR00019 ORD BR PLN0.10
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 55.00 10.00 100.00 55.00 55.00 55.00 0.00 00:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 0.0 0.1 0.4 137.5 10

Work Service Share Discussion Threads

Showing 876 to 895 of 1275 messages
Chat Pages: Latest  39  38  37  36  35  34  33  32  31  30  29  28  Older
DateSubjectAuthorDiscuss
24/8/2014
15:25
they have sliced 15% of the original max. holding of 2.2M I dont think they sold even 1 in the other years...well done for that... 15% is a small %...they still hold 85%.... 10/10 for the bod or City Group ! and very rare for me to ever pat them on the back ! but then it is perhaps a lot easier to make investment decisions when you have someone who goes to the board meetings...so you know what is really going on... ! ---- you have 50% of your original holding..you say.....so at this moment they have done better than you !...imo... --- Tuesday you might want to buy them back....not too late ! je je !
smithie6
24/8/2014
15:21
...ah no. 2 times. See RNSs 2.2M shares down to 2M and then 2M down to 1.875M but not so important. ---- Im quite critical about many things at Western... but for Northbridge invesment they have actually handled the investment very well since the start imo ! although one could perhaps argue that they should have taken up their full rights in one of the share issues...perhaps the co. wouldnt let them... but generally in the issues below 3 pnds they made the right decision and put up the cash...now worth a lot more at 6 quid/share top slicing to generate cash to put into Hartim ...made sense... (imo the Hartim accounts needed it..were a bit wobbly imo..but shhhhh...dont tell anyone I told you !) and the 2 top slices in order to reduce debt/help Hartim ...makes sense since many people think the mkt is quite highly priced in 2014....so not a good time to be geared....coupled with the risk by high exposure to NBI...no need to take risk in every segment....(the risk with NBI exposure should be kept running imo) LFI and Western have imo steamed in to previous mkt crashes with high gearing....so their NAV has been really nailled !..gearing gives a greater % NAV than the mkt fall %... (they really did not have a clue imo !) --- and with top slicing they have sliced from 2.2M to 1.875M ....only sliced a %... still have most of the holding...
smithie6
24/8/2014
15:08
I think WSE have only top sliced NBI once, rather than twice.
topvest
24/8/2014
12:00
top-slicing NBI. I disagree....I think they should keep it as a strong hold. Run your winners...cut your losers.... (they have top sliced 2 times already.....logical at the time....that is enough for now imo....) in many years of Western history....they actually hold a winner ! the other 4 large investments have not been winners... CRE. SWL. Blue Chips or Hartim. In any case...they are perhaps unable to at present....since they have a director on the board...and that stops them from any trades at present I think. closed period. Opinions and calculations...from yours truly... hxxp://fulltimeinvestors.com/Northbridge/ ------- Not a good time for new strategic investments imo. Small companies are not cheap at the moment imo. Many floats in 2014....often over priced imo. 2009 was a good moment !
smithie6
23/8/2014
13:31
I think they need 75% for a merger to be voted through under a special resolution, but haven't checked in detail. I would suspect that costs are better dealt with by talking to the directors. Think they should be top-slicing NBI at £6 to free up cash for new strategic investments. It only yields 1% and they should have learnt from their mistakes of old of not taking some money off the table when they have the chance to. I have top sliced NBI at £4 and £6, but still hold about 50% of my original holding.
topvest
23/8/2014
13:00
btw...the Marshalls history has been to have numerous companies... as someone posted I think... and then get personal payments from each one.... better for them compared with merging ..and getting 1 or fewer payments --- btw if the Marshalls get a cut of the Employee shares......(secret perf. targets of course ! and how many shares for any Marshall...of course again not revealed to us company owners !) then they get a cut of Western shares and then again a cut of LFI shares.... and the Western assets support both shares prices.... a rake off 2 times.. and the same for operating costs.... --- LFI only has Finsbury to monitor... and have had 2 ppl on the bod....that get paid... so LFI monitoring cost should be free... so the LFI costs especially should be low... (Western has 3 listed...+ Hartim (again they are paid for 2 ppl on the bod))
smithie6
23/8/2014
12:37
Western discount to NAV imo the discount will now reduce ! 1 or 2 tiny buys and whoosh...imo the approaching accounts date is perhaps enough of a catalyst 27th Sept last year. 2 days after the NBI H1 results :-) after the NBI price rises surely no one will now be willing to sell at current discount to NAV ---- there is smartmoney out there that knows about Western, in addition to you and me !! some buys in past 12 months around 10k per time between 40p and 55p largish buys for Western...most PI trades would be 1 to 2k shares
smithie6
23/8/2014
12:24
Topvest I think you have a good handle on co. rules Can LFI together with WH Lamb Ltd vote thru a purchase of Western shares to merge the 2...by voting just over 50% of the shares....(59% of votes cast) even if say 35% of existing shares voted NO... and 15% of existing shares did not bother to vote... if yes....they could ---- The LFI shares in Western can be voted ....or cant be since they would be making the offer ? ------ DC Marshall would want a low price since he is a large owner in LFI ! and he votes a large block of Western shares ! which is perhaps a bit worrying... ---- but need 75% to de-list ??? and over 90% to do compulsory purchase of any shares that did not agree to the takeover/merger --- btw with the rise in price of NBI...and hence of Western total asset value... the possibility for LFI to buy Western surely gets harder... or maybe when such a merger would be 90% Western and 10% LFI then Western holders might be quite happy to move to take LFIs LSE listing ! be us taking over them rather than other way around ! --- Western shares are illiquid on ISDX and LFI shares are illiquid on LSE....I dont see much/any difference. Illiquidity. cant force holders to buy/sell !
smithie6
23/8/2014
12:22
Lonfin personally I definitely do not want a merger I have recently lost a packet by the MD of UBC de-merging its most valuable asset....which was why most PIs were invested in UBC.... after UBC had been involved and put money in to help it grow... to see it rocket in value x 5 ! but while UBC shareholders then had only a small part of it ! afer previously having 51% so if Hartim were to one day produce some return for its backers... well we put up the money for it...funded via the warrant units back a few years back...with 50% more shares issued in the end... and we have now put in more money... we have taken the risk... we should get any return... and not Lonfin
smithie6
23/8/2014
12:17
if other people and not just me are also concerned about the level of costs... are people willing to each send an e-mail to the company with a copy to the company adviser asking that the annual report gives a break down of what the costs are rather than just a total and everything is kept secret from us with a few messages to the co. adviser then I think the co. would have little choice but to do it. (or we also get an e-mail address for the auditor...and copy him with the request as well)
smithie6
22/8/2014
18:15
bit more digging... --- Hartim strange... had 26 staff in Auz co. but turnover was less than 3M while around 50 staff were working in UK linked to turnover of around 25M !! noting that nett profit margin in UK was around 3%...ie. small.... I think that gross profit has been given in some account as around 13%....before paying wages... 26 staff in Auz for turnover of less than 3M doesnt add up if Auz. staff had similar turnover per person to those in UK then turnover for 26 ppl would be around 12M and not 3M Doesnt make sense ...to me anyway. I guess it must be that they were delivering by truck to shops....whereas UK staff more involved with shipping a container load and they dont have to travel with the container...so the same person can work on another order/delivery whereas the truck driver cant) (if .also 13% gross profit then only just over 300k gross profit...to pay 26 workers..and lease costs and office costs etc etc...) How could anyone (Mr Aird & Mr Gibson....and agreed by E.Beale and the WESP chairmans son L.Marshall) have wanted to buy a co. with only 3M turnover that employed 26 staff !!..and with high fixed lease costs...higher than 300k I recall..so if pay the lease costs then no gross profit left to pay wages perhaps...hence administration... seems too obvious to have failed due to that We never got told why it went wrong....we are after all only the company owners !
smithie6
22/8/2014
17:49
having a Western day ! --- annual reports 2012 NAV 72p mid mkt price 42.5p 59% of NAV 2013 NAV 82p Mid mkt price 52p (63% of NAV) today NAV is 112p mid mkt price is 59p NAV up 30p from last yr while share mid price is up only 7p.... (63% of NAV would give a mid market price of ....71p ...12p higher I reckon that with hardly any shares being traded the mid price could/will move up by 12p ...soon... ---- bit unfair imo for anyone that does not have enough shares to make it worth the effort to calculate their own NAV value....since they might not know the current NAV....since the co. wont tell the mkt !!....so they might sell their shares thinking they are not going anywhere....not knowing the NAV is around 112p... co. should imo report the NAV now and again...at least monthly :-)
smithie6
22/8/2014
15:24
oh + 18.4p increase in NAV to today since Dec 31st is excellent and + 18.4p wrt a share price at Dec 31st of ... around 57p mid price according to ISDX at that time..with 93p NAV (which most of us knew since we do our own calcs) is a very significant % ...not far below 50%... (increase in NAV in next 6 months is unlikely to be so high...very difficult...but the discount to NAV could well reduce....bringing the share price up over time...fingers crossed) ---- nuts imo that mid price is now up 2p from then ...while the NAV is up 18.4p imo ! (60% of 18p NAV increase would be 11p....minus 2p increase thats happened... gives 9p...so imo the mid price should be 9p higher...59+9= 68p..if value at same discount to NAV)
smithie6
22/8/2014
14:37
oh...and value of NBI per 1 share of Western is...imo...62p....same as buy price for WESP shares (around 18M WESP shares and it owns 1.875 NBI shares according to last relevant WESP-NBI RNS reporting sale of some NBI shares)
smithie6
22/8/2014
14:34
and current 62p to buy is 56% of my current calculated NAV far too large a discount to NAV imho so I expect the discount to NAV to reduce....
smithie6
22/8/2014
14:33
NAV reporting ! (I was going to do report every X period of time........but ...forgot...) 1) method A Using absolute values of each holding. NAV = 111.7p 2) Method B Calculating the increase in value of holdings compared with stated value in last accounts to get a value for change in total NAV. And then adding that change in NAV to the stated NAV in the last accounts....to get a new NAV. 93p + 18.4p 111.4p So...imo I am happy that the NAV is 111-112p to a high degree of confidence... but happy if anyone reckons their value is different and that I have got it wrong !! (values used NBI 598p and sale of some shares included in calcs. 570k in value....should dbl check no other sales in period.... SWL 95p CRE 110p Blue chip portfolio. unchanged from last accounts. Value of Hartim/assocaites. unchanged from last accounts. ----- All part of the service !!
smithie6
22/8/2014
11:46
If LFI made an offer for WESP....cash or LFI shares or cash + shares can LFI vote the shares it owns in WESP or since it is making the offer it is not allowed to vote those shares ? They would need 50.1 % of voters to vote yes or 75% ? of voters or of actual shares of WESP ? (so non votes would act against them) ---- btw with WH Lamb Ltd votes LFI has over 50% of WESP votes imo
smithie6
22/8/2014
11:40
merging LFI and WESP "if" Hartim is valuable in the end.... then Western shareholders would not want to merge with LFI....since WESP shareholders would then own less of Hartim... while the Marshalls would be keen to merge since they would then own a bigger part of Hartim...and gain more if it rose in value... (they dont own any WESP shares....only LFI shares (40% ?)....which has around 40-44% of WESP) say 40% of 40% of 50% so the Marshalls own 8% of Hartim imo If they owned 40% of Western and not of LFI then they would own 20% of Hartim imo. ...just over dbl their current 8% if Hartim was valuable then WESP shareholders might not want to let anyone else (LFI) get their hands on any part of it ! unless LFI could offer some tasty pie in return...which at present I cant think what that might be... although if ISDX was to dissapear...and shareholders were told... going to be forced to de-list since moving to AIM would be too expensive... or merge with LFI... perhaps WESP would then take that offer... Id be happy to be de-listed...and have matched trades...since that is almost what the situation is anyway.... to be honest...around 20 people own the co. I think....and normally do not trade one share imo....the rest of holders own almost nothing... ---- LFI heavily invested in blue chips and FIF blue chip fund...where all the divi goes to pay the wages of the fund manager and the Marshalls.....completely pointless imo ! (if anyone wants to give me their money to run a blue chip fund where all the divis are used to pay my wages and expenses for running it..and you get none of the divis (your divi being generated by selling assets...your own assets...its the LFI way !)...please let me know !) FIF if the rainfall is too high or too low then the price of wheat changes....and the FIF shareprice margin on sales is tiny. high amounts of capital needed for expensive machines and factories. high use of gas...exposed to gas price changes large number of workers. massive part of costs. one small mistake and you quickly gobble up any cash built up from that tiny margin. competition is intense. supermarkets nail the suppliers on price and of course compete them on price they had an egg problem I think X years back....sp crash. they had a factory burn down not the type of investment I like
smithie6
22/8/2014
10:11
the discount for WESP shares....while Athelney Trust shares trade at almost 0% discount to NAV insane imo. (Athelney over priced...and WESP under priced Western discount to NAV is bigger than it should be imo... hopefully in coming months it will reduce currently around 50% of NAV while historically 60-65% of NAV has been common) ---- btw LFI went to almost 0 % discount wrt to NAV .... some insider trading imo in advance of the news of the property being sold... and producing a secret 2M into the accounts.. (accounts must be true and fair.... AIM/LSE shame it dont happen !)
smithie6
22/8/2014
10:09
Coolen "First 2 marks were a "put-through", but odd that it put the shares better at 57-62p. Then out came a small seller at 58p. Those were the trades on Monday." imo not quite right splitting hairs... the "put-through", (sold and bought back...so a move from one account to another) actually happened "after" the share price rise. ...the sale before buy back is shown at around 57p....whereas the price to sell had been at 53p (53-58p buy/sell) imo the MM moved the share price up after seeing the share price rise at NBI but personally I am not sure if MMs are strictly allowed to move prices unless there is a trade...I dont know...I guess so...they do after good or bad news I guess...
smithie6
Chat Pages: Latest  39  38  37  36  35  34  33  32  31  30  29  28  Older
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