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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Worldspd | WSPR | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 37.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 37.00 | 37.00 |
| Top Posts |
|---|
Posted at 03/2/2013 18:50 by spob good to know that for accounts up to the limit of 50k that you at least get all of your funds if the firm goes bustsorry to those who had over this limit with WSPR this situation creates logistical problems when funds grow well beyond the 50k limit. 500k = 10 accounts to manage :( |
Posted at 03/2/2013 09:51 by spob Regarding Worldspreads clients who held less than £50K here.I am interested to know how the valuation process was conducted for their accounts with WSPR. How were open positions on their accounts valued ? Was a specific date given such as the administration date or share suspension date ? Did clients with a total account value including open positions under £50K eventually receive their previous total account value in full ? Were any fees deducted from their compensation settlement cheque ? |
Posted at 16/1/2013 19:56 by nobbygnome It is on top of the £50k. I read on the website that back in November they cleared the way for another 3% dividend to be paid. The amount I received was 3% of the total I was owed (before the £50k was paid) and so I guess that is what you should expect as well some time soon. It has taken over 6 weeks for me to get the cash and clearly even longer for you. To me that is scandalous as I was told it is just down to to resource levels. Meanwhile we suffer for doing absolutely nothing wrong.....Nobby |
Posted at 16/1/2013 09:02 by sharesure4 Nobby, is that one cheque in addition to the standard £50,000 compensation they paid out last year or have they paid two dividend cheques? I have only received one dividend cheque so far and could do with the rest being paid! |
Posted at 16/1/2013 07:51 by nobbygnome I received another cheque yesterday for about 10% of what I am still owed. The letter accompanying it wasn't entirely clear as to why this part payment was made other than the FSCS has received another dividend from the administrators.Did anyone else get a payment? Nobby |
Posted at 03/7/2012 17:51 by mattjos Filled it all in today & attached copies of Statements from WSPR & screen prints i took on 19/3/12 of the account as supporting evidence.Scanned it in as a pdf file and sent it off .. took about 10 mins. Seemed simple enough to me |
Posted at 01/5/2012 17:49 by simon cawkwell Gentlemen,I think one or two people ought to calm down over actions putative against E and Y. It would be necessary for the claim to show that E and Y were negligent. The mere fact that money went missing when they were in a position possibly to note such a development is not proof of liability or anything like it. Remember: the auditor is NOT a bloodhound. He is just a chap who, using limited and expensive time, must look sensibly at what is going on and follow up palpable concerns. There is absolutely no evidence yet publicly to hand that failure in this regard obtained at WSPR. Simon Cawkwell |
Posted at 21/3/2012 06:59 by mikeja One thing I am not clear about is whether the £16.6m cash which KPMG have talked about includes shares held by WSPR as hedges.These exist or at least existed I believe ay the time of the suspension.One or two of my holdings were in lightly traded stocks.Some clarity would be helpful |
Posted at 19/3/2012 10:03 by simon cawkwell Gentlemen,Much though I hold the FSA in contempt, it seems unlikely that they are to blame for this WSPR collapse. If it is true that client funds were nicked by executives, short of an intense, and therefore uneconomical, rolling audit and control programme, there is no remedy. The really important review now required is control of KPMG's fees. This will have a very material effect upon the liquidation dividend to creditors. Simon Cawkwell |
Posted at 19/3/2012 09:23 by scrutable WSPR was run well on a day to day basis. A clear and efficient trading platform, good service levels, good customer relations, decent and helpful, rather than rapacious staff. That is why I wound up my positions with each of the other SB cos over the years and traded exclusively with WSPR.Till now there is no evidence to suggest that the trading strength at WSPR was being impaired by further trading - only the hint that the damage was done by fraud and diversion of funds to private pockets and/or some large unhedged positions going the wrong way. So why did it have to be wound up? The company could surely have been left to continue trading as a going concern by the administrators, provided that all future trades were immediately hedged. The administrators' actions to cease trading were not obligatory. Many insolvent companies continue trading where there is positive cash flow. KPMG were precipitate and have maximised the losses to all and sundry. Surely they owed a duty of care of care to all asset holders? The shareholders and staff are big losers, after the few in number but large investors who do not rank for FSA protection - but the business model had previously always made a modest profit, and was probably profitable on a rolling basis. |
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