Worthington Nicholls Dividends - WNG

Worthington Nicholls Dividends - WNG

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Worthington Nicholls WNG London Ordinary Share GB00B105MM77 ORD 1P
  Price Change Price Change % Stock Price High Price Low Price Open Price Close Price Last Trade
  0.00 0.00% 10.25 0.00 0.00 0.00 10.25 01:00:00
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Worthington Nicholls WNG Dividends History

Announcement Date Type Currency Dividend Amount Period Start Period End Ex Date Record Date Payment Date Total Dividend Amount
17/01/2007FinalGBP0.430/09/200530/09/200628/02/200702/03/200730/03/20070.4

Top Dividend Posts

DateSubject
12/3/2008
12:03
mudbath: 7.5 pence(being the exercise price for the warrants) would appear a fare valuation as matters stand.It is reasonable to expect therefore,that the share price will have a tendency to return towards that level.imo.
12/3/2008
07:56
lundhousegreen: Wed. morning's Daily Telegraph.. Beart rescue Worthington Nicholls, the troubled air conditioning maintenance business, jumped 1.5 to 11p on renewed hopes that chief executive Simon Beart can pull off his attempted turnaround. Mr Beart, who has a solid reputation as a troubleshooter, has been trying to "kitchen sink" the problems at the group, which ousted chief executive Mark Worthington after a series of profit warnings. As he unveiled woeful annual results, Mr Beart signalled his intention to break with the past by re-naming the company Managed Support Services. The group made a loss of £42.1m in the year to September 2007 and suffered a goodwill impairment of £21.9m. "The historic numbers are, of course, terrible as the company was trading with little or no financial controls and had been bidding at uneconomic levels for contracts," said Mike Stoddart, an analyst at Daniel Stewart. "The new management team is very able and is doing all the right things to stabilise the group, but the share price is still too high." Mr Beart is cutting two-thirds of the work force and is hopeful the restructured business can break even by March. However, the group is unlikely to have much of a future in its current form and Mr Beart is expected to either find a decent-sized acquisition or look to break up and sell off Worthington Nicholls' remaining divisions.
11/3/2008
12:33
jockblue: My take on this is.... 1) There is a business worth saving. 2) The bits of the business worth saving ironically seem to be the acquired bits and the original WN Trading business appear to have been written off 3) Cash of £6.5m (about 7p per share) currently, but a loss making period, afew more exceptionals and any form of legal challenge will more than take care of that 4) Expectations set at break even by summer. 5) Beart puts money where mouth is 6) Kitchen-sink job completed, and in fact, actual write down not as bad as first feared. So, in conclusion, I suspect we'll end up with a business selling refitting services to the hotel and retail trade - a bit of shopfitting with aircon thrown in. It'll be profitable hopefully, and may well be worth holding. SB clearly sees some merit by spending £30k of his hard-earned on it, when he didn't need to. The obvious downside is anything left over from the Worthington days.....it wouldn't surprise me if a legal challenge was made to the company and its advisors. I'm sure the family's assets are well out of reach by now. A couple of comments on this thread... Assuming everyone is who they say they are, and its not one person doppelling every single post.... 1) Venlib may or may not have a previous connection with Wn, but regardless, the factual stuff he's posted here has turned out pretty much to be correct, and for that I'm grateful for his info. 2) I cannot see this share price going up anywhere fast - yes it'll fluctuate as its a magnet for day traders, but it'll need a solid set of post-apocolypse results to allow a rerating. 3) They've just about got enough cash to see out the restructuring, a big legal cloud hanging over them, and a share price worth next to nothing, together with a management team trying to rebuild it (note to self - Bionic Woman back on ITV2 tonight) - the last thing they would be doing is making acquisitions.....quite why anyone would suggest it is beyond me. 4) There's too much personal backbiting, particularly from the "20p-by-Friday" merchants or those who claim to have some form of personal knowledge of the industry.....lets let it lie. jb
08/3/2008
09:01
richmond9: gerry321. Not sure what research you did for that post but venlib is a woman called beverley Curtis. Read my earlier post regarding the class action web site and the fact that altertherms server is hosting it. Look at www.altertherms.com and you will see a picture of a Gorvins solicitor at an altertherm Christmas party. Rest assured that WNG, BO and MW will be reading every venlib post and expect action now they know who it is. SB on the other hand is the future for this share price and that's where posters should be looking. He's been at the helm for 3 months and as a turnaround specialist his 90/180 day plan is well on its way. Phase 2 will start this week with the 07 results, a new name and a statement about the future. Let's see what that is on Monday.
06/3/2008
17:21
richmond9: Venlib. It makes everything easier surely. Following the transfer of the contracts/trading business and its staff into WN (Trading) Ltd it either has enough work to cover its overhead or it doesn't and it can have its cloth cut accordingly. This is the same for the other 5/6 limited company's owned by the Plc. WNG Plc doesn't need to trade/invoice customers, as it has the 8m in the bank and only 3 employees. The Board can raise money for the Plc by going back to the institutions that put them in and invest it based on what they are good at and have knowledge of. The city doesn't care what SB and the Board do as long as the Plc has a share price higher than it is now. If you look at XKO when SB took over in 1999 they had a Limited company that made clay pigeons, they sold this business to move into computer software and after 3 years sold all of the software company's and bought into the debt collection industry. The Plc remained the same throughout, it was only the Limited company's it owned that changed and the share price went from 25p to £1.96
03/3/2008
20:34
z1gzag: goodtime, Well the share price does seem to suggest something positive is afoot and something might have leaked, on the other hand it could be a suckers rally. At the moment Jarvis seems a better bet, but WNG may surprise.
03/3/2008
16:40
z1gzag: venlib, In view of the dire state of WNG can you please explain why the share price is going up.
28/1/2008
20:46
z1gzag: Hey Venlib, Lost some money investing in WNG have you. Unlucky loser, that's life. The class action will achieve nil and add to your frustration. Good to see the share price down last week, good job done mate because I was able to top up at rock bottom prices. Good news on the way I hear. If I was you I'd fill yer boots.
02/11/2007
14:27
dreamsurfer141: hlum. I agree. WNG have made five acquisitions so far and these acquisitions can take time and effort to implement before you start to maximise profit from them (especially as one of them made a loss of £4000 is their previous financial year): -------------------- RNS Number:3939O Worthington Nicholls Group plc 21 December 2006 The Lumenglow acquisition is also important strategically, bolstering the Company's presence in London and the South East. The Group also sees opportunities to market maintenance contracts to Lumenglow's customer base, and to cross sell its services to existing Worthington Nicholls' clients. Founded in 1984 and based in East Dulwich, Lumenglow's customers include Debenhams, Royal Doulton, Farebrother and the London Borough of Kingston-upon-Thames. In the year ended 31 July 2006, Lumenglow reported a small pre-tax loss of #4,000 on turnover of approximately #830,000. -------------------- If the share price had slowly drifted down from 50p over the last year to between 15-25p, and if WNG then reported that they made a very slight profit or broke even, then heads wouldn't be rolling and this would be an excellent stock to start buying into, especially with a dividend. But the stock was massively over hyped to an overbought stage. WNG also didn't help with this, reporting a "Major Contract" quite often on RNS up until their "multi million" pound "First customer contract to comply with new EU legislation" stating that "In the context of recent Company contract announcements, this is one of the most significant": -------------------- RNS Number:3980Y Worthington Nicholls Group plc 15 June 2007 Worthington Nicholls Group plc (AIM: WNG) ("Worthington Nicholls"), one of the UK's largest installers of air conditioning, heating, ventilation and chilled water systems, has signed a multi million pound contract for nine years through to June 2016 with IHG Managed Services, part of the Intercontinental Hotels Group ("IHG"). In the context of recent Company contract announcements, this is one of the most significant. -------------------- I believe this has been a contributing factor to the great negativity and uncertainty surrounding WNG at the moment as they promised much but haven't delivered(yet?). However, with a new board, hopefully Good, Beart and Mann, which is who I will be voting for, I hope this to be an excellent recovery stock. One other opinion which is also pure speculation is regarding MW. Do you think he may have been too busy entertaining for new business instead of running the company? Good at securing new business but not very good at the whole CEO thing?
10/10/2007
12:56
venlib: You rang EOC74? There's a few things I know which are that they have been slack on the work front for a while now and whereas the industry has been reporting similar levels of trade to last year until recently, many are now saying they are also slack. November is often not a bad month for the trade picking up but Dec-Feb are historically the slackest months of the year so all in all it's unlikely the work front is going to start helping wng. Lack of productivity will eat the cash and they say margins have been down so I can see that pile going fast. The Bank balance is irrelevant without debtors & creditors figures but don't forget that as they come back into busy season next year they've got a pile to shell out for the deferred aq's payments or they lose them. I've heard they will be reporting a loss but that isn't entirely unexpected & the current price already reflects that. The revenue figure can't be trusted – they said on IPO (MEN I think) they had 10.2m booked but that turned into 8.1 or thereabouts so they managed to mis-report booked revenue figures by 20%. One of the difficulties with wng is you can't trust what they say as you all know now What I would consider beyond all that though is the picture on their side of the fence; The company has no chance of going back to the market for any more funds and if the business bucked up the shares will probably languish for a long time because of the lack of confidence. So what's the point in staying in the market & if they do start turning a profit then why pay it out in divvy's when there's an array of back pockets in the board room? Then there's MW who I'm told refuses to be shoved. He's not going to get a job anywhere easily and would not want to end up as someone's employee. It's the power he likes most which is why he won't go so my guess is he would prefer not to be in the market right now so that shareholders can't control his destiny. Stoddart? He's not going to be happy about the calls for his head either. Same goes for the rest of this board which keep in mind is made up of very wealthy men who already own shares in wng. Then there's this Mitie guy. That's a good move for the business but as a founder of Mitie think about his ethos which is to buy a large chunk of a co and help it grow with his experience which is where he gets his return. So why's he bothering with wng if not for that but there's been no mention of him buying up a large chunk of wng shares to my knowledge. I doubt he's waiting until their shares rocket before he buys a controlling interest – the other way would have my bet. Call me cynical but saying nothing is hurting the share price They've got a cast iron excuse with the new FD etc to make the forthcoming news as bad as possible. Perhaps just enough to really drive the share price down. Then what would you do? With the city on your back big time and in MW & AS's case facing being out of a job? Why not buy it up nice and cheap, keep your jobs make it a success and flog it to a big m & e in a few years or mitie might want to keep it. I'd bet that if they weren't in a close period then its cheap enough for an MBO now but it might serve their purpose until after the news anyway. I think the city can see this coming which is why they want the entire board replaced to stop it There is another alternative, let it crash all the way and pick it up from the administrator for a snip but my bet would be on an MBO to keep the credibility of the business up and to get it bought before the sharks turn up for lunch in an admin situation
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