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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Worthington Nic | WNG | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 10.25 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 10.25 | 10.25 |
| Top Posts |
|---|
Posted at 15/4/2008 12:21 by tom.muir Interactive Investor is showing it under MSS now. Also showing 8.80 bid and 9.00 ask |
Posted at 11/3/2008 07:41 by tadtech What a disgrace. Ex management milking all investors, probably lazing around on beaches and golf courses. Not a holder but have been watching events. 'These results document a failure of management and Corporate Governance by the previous Board' That said this COULD be a good recovery play but evidence will be required first. Cash equal to market cap but further heavy losses expected. |
Posted at 07/3/2008 21:51 by gerry321 Elaineot should I say ........Venlib..! you must be delighted with all the attention focussed onto Altertherm But we know different dont we..? and so does your sibling rascal Get a life and give up this useless sniping at SB you cant have much else to do on your hols if you keep popping into internet cafes.... ..be assured the sun has been shining on SB in Manchester and he has lined up a deal that will help all loyal shareholders .........unlike you who sold out as soon as possible You made your money and pushed off somewhere so why not just enjoy it and give us all a rest youre in the past and thats where you belong There are lots of people on this BB who are down a packet on WNG and no doubt some of your posts have helped the shorters who infest this share Its time to go back to pencil sharpening and leave this BB to serious investors Youve got no shares left....... so whats the point ?? Is the weather that bad in Florida ??? |
Posted at 06/3/2008 20:25 by venlib Things have a ways to go as yet Z. Investors should consider that all these screen names that have popped up since the share price crashed, purporting to have the inside track on wng - where were they when you were all being ripped off? They weren't on here telling you the place was a shambles falling about around everyone's ears were they - it was common knowledge as I've been telling you. Now they're even doubling up and more on their screen names doing anything to get the share price back up again. You've had 2 years of spin already |
Posted at 06/3/2008 20:10 by venlib Semantics Richmond - comparatively 'not long before' - WNF was dormant until they shoved the maintenance into it in Oct. 04 so it certainly wasn't part of their supposedly 34 years history. Yes I know all the rest of what you've said, none of which explains how they've turned 35 mil into around 4 since IPO, or what is happening now. The Premier Inn contract isn't even direct - only 2 were almost definite but looks like they've lost those. What it boils down to is wng will be a maintenance bit player so I agree it's about what cash is left and what he can do with it. However, I don't think the investors ever planned to invest in what some city guy might be able to do with a few mil. The city might not be in love with aircon (especially not now) but it's supposed to be a bit less speculative than 'give us your cash and we'll see what we can do with it - after they've put the mess to bed of course. And it still remains to be seen what cash will actually be left by the time they've finished all the payouts etc.P.S. He confirmed current cash position - not final |
Posted at 26/2/2008 12:54 by goodtiming Level 2 is still very strong..The buyer is still accumulating..Keep your eyes out in the business section of the Manchester Evening News...An article Re Worthingtons is due to be published...And i can inform the board that for the first time in over 12mths its going to be very positive...I know the local investors will be diving in once its released...Lots of good news on its way.. |
Posted at 03/2/2008 15:33 by venlib MORE FUEL FOR MARKET CRITICS AS FRAUD INVESTIGATORS RECEIVE FILE OF ALLEGATIONSAim chiefs silent over firm's 'irregularities' By SIMON FLUENDY Provocative and swaggering, John Thain, then boss of the New York Stock Exchange and now head of investment bank Merrill Lynch, caused uproar last year when he lambasted his London rival over lax regulation in its junior Alternative Investment Market. Senior London Stock Exchange executives dismissed this as sour grapes as Thain's NYSE had lost out in the contest to attract Chinese and Russian share offerings. American regulatory chief Roel Campos was also criticised for describing the London market as a 'casino'. But Financial Mail has startling evidence that not only did Aim allow a company with no qualified accounting staff to come to market, but it is preventing new management there from telling investors that there are grounds to investigate whether major 'financial irregularities' may have taken place. It is also tight-lipped about a detailed file that Financial Mail understands has been sent to the Serious Fraud Office, which is considering a criminal investigation over 'significant irregularities' in corporate accounts. The revelations call into question claims by the LSE that it has tightened regulation on Aim and cracked down on poor supervision by 'nomads' City brokers that lead firms through the compliance maze to market. The company involved is Worthington Nicholls, the Cheshire based air-conditioning firm where Financial Mail last year exposed a series of bizarre episodes. Milions of pounds were written off after the former management, under the leadership of Mark Worthington, son of the founder, was ousted. Its nomad is City stockbroker Blue Oar. Worthington and his family sold millions of pounds of stock as share prices rocketed on the back of positive news, especially when bringing in buyers for a secondary offering of shares in May 2007 at £1.70 a share. Late last week, the company issued a trading update that revealed a lack of qualified accounting staff for two years before flotation in June 2006. It said 'no meaningful accounting for contracts' had taken place until at least April 2007. But it is a startling omission from the statement that has wider ramifications. In a section headed 'Legal Matters', directors reveal £400,000 has been spent on legal and accounting advice since last August. A huge figure like that for a company valued at little more than the 8 million cash in the firm's coffers deserves explanation. Financial Mail understands that the directors wanted to say more but were stopped by the Aim regulation team. A paragraph deleted from the statement says: 'The company intends to seek separate legal advice in respect of significant accounting irregularities identified by accountants in respect of which it has made a detailed submission to its current nomad for onward transmission to the relevant authorities.' In an email to workers, leaked by staff to Financial Mail, chief executive Simon Beart says: 'The board is unable to reconcile the evidence of the management accounts, at the relevant time, with the various trading statements made by the former chief executive during 2007. 'A detailed submission has been made to the Aim regulatory team, which has been passed to the Serious Fraud Office. The submission focuses on the reason for the accounting write-offs and in particular the circumstances surrounding the fund-raising in May 2007. Documents held by Financial Mail show the company was on thin ice long before shares plummeted after May's 17 million shares issue, A report by top accountant KPMG reveals grave warnings about financial policies. It says former chief Tim Hunt was asked in June 2007 to add more than £1 million to revenue on Mark Worthington's word. KPMG says Hunt was 'very concerned'. He later quit the firm. Worthington Nicholls refused to comment. City sources said directors wanted to understand why the statement was censored. One said: 'This company had no business being brought to market. The directors believe the facts must be brought to light and those responsible for any wrongdoing brought to justice.' Blue Oar was known as Corporate Synergy when it brought Worthington to market and it is now under new management. The company declined to comment on Worthington Nicholls. The LSE also refused to comment, but a source close to it said that the Aim regulators had to tread a fine line between keeping investors informed and other market participants. 'The Exchange does not like to publicise what it is doing behind the scenes,' he said. 'For each case that results in public censure, a high number of other allegations have been made, probed and dropped for lack of evidence. The balance has to be struck'. The SFO also declined to comment |
Posted at 20/1/2008 20:37 by venlib Gerry321, the simple answer is I think SB would be inclined to do whatever lines his pockets, as would any businessman. But the real answer is much more complicated and I don't think Beart is free to do what your suggesting. Everyone, including the instis, invested in an AIRCON business, starting with the AIM admission doc and their past and present investment is based on what they've been told of past/future performance; hard and soft infrastructure to support that, client base, etc. etc. If investors are asked to maintain or add to their investment merely on the basis of someone having some cash and speculating in territories unknown to them, and for which they have no details, then I think they'd tell you they know of fund managers who already have a track record and a trusted portfolio and who are far more experienced than Beart is at simply managing investors money. What you're suggesting (to over simplify it) is tantamount to; 'The 'sweet shop' didn't work, so he wants to buy a 'car sales plot' he has hopes for but for which there are no details, and maybe the garage will pay extra for the office furniture so it helps divest the failed business. His comfort zone might be in 'cars' as opposed to 'sweets', but that is not a sufficient reason to divert the cash. If the AIM market want to simply give a recognised businessman a ton of cash to invest, then surely they would be better doing so unhindered by having to consider the divestation of a failed business as part of the deal. I mean, Hey! Give me 8 mil or a fund manager, or anyone with a good business idea etc. why tag a failed business along and try and call it a plus point! All the above assumes that he's actually got cash that he can do something with which is not already accounted for by creditors and I don't believe that to be the case V |
Posted at 08/11/2007 10:00 by hlum littlefraggle- No matter how you put it in your last post, you argument is very thin and you know it. You are deliberately scaremongering. Yes opinions are welcome but not dishonest ones. And you having run a plc doesn't make you or anyone else an authority in the stock market. All companies experience problems in their lifetime. I gave an example of Debenham's yesterday. M&S, the flagship of UK retailing had some serious problems to the point of being taken over 3/4 years ago. Look where both Debenham's and M&S are now. GET IT IN YOUR HEAD: WNG has been in existence for over 35 years. At the float it was called "the float of the year". It's a brick & mortar business in a must do/have products/services for all big building in not only UK but EU too. There is £7 billion cake to be had. Given these last 2 points, a very small number of clients will have deserted if any, yet these will be replaced by more as the EU regulation has to be adhered to, NO CHOICE there. Clients themselves understand companies do experience problems from time to time, INCLUDING THEMSELVES, ie flooding. ARE WE TO WRITE OFF THE HOTELS BECAUSE OF FLOODING, AND NEVER USE SUCH HOTELS YOURSELF WHEN YOU NEED SOMEWHERE TO SLEEP?Beart and his good buddies have approached WNG twice before and were rebuffed. The fact that they weren't deterred for the third time, shows they believe there is strong life in WNG. WNG managment this time seem to be more amenable to Beart, thus a satisfactory resolution in sight hopefully. Even if they fail this time, it would still be a good sign as this will lead to attempt at takeover, hostile or otherwise, since either side want to be at the helm. Yesterday I gave an example of Debenham's going down to 40p, before recovering and then sold for £4. In the last 4 days ONLY, SOLG rose from 7p to 40P today, that is over 500% increase in only 4 DAYS, I repeat. I am not saying WNG will do the same but the principle is the same, as also with Debenhams/M&S: when you have a solid business as WNG's, problems throw up once a lifetime opportunity for investors to make good money quickly once those problems are sorted. And I believe WNG is at this crossroad, ie nearing the end of these problems one way or another. If you think a contract won't come before the EGM and this is a far way, as you put it, I am amazed at your notion of time. WNG has been in existence for 35 years, investors have been in WNG for over a year, what is few weeks to GET A CONTRACT... this is deramping at its most idiotic form, LOL!!!!!! |
Posted at 06/11/2007 12:58 by hlum suits you, he overdid it really, LOL!The following is about Debenhams, how it was taken over, turned round and rentry into the market, with a lot of bucks made in the processs. And the same recovery management also run Halfords Group successfully..just like beart et al. nwmadden - 4 May'06 - 12:52 - 1 of 15 From Bloomberg: Debenhams Gains After IPO Priced at Bottom of Range (Update1) May 4 (Bloomberg) -- Shares of Debenhams Plc, the second- largest U.K. department-store owner, rose as much as 5.5 percent on their first day of trading in London after the company priced its initial public offering at the bottom of its target range. The stock gained as much as 10.75 pence to 205.75 pence and was at 204.75 as of 12:41 p.m. local time, giving the retailer a market value of 1.8 billion pounds ($3.1 billion). Debenhams sold shares worth 950 million pounds in the IPO to repay debt and allow investors including CVC Capital Partners Ltd. to realize gains. The 195 pence-a-share IPO price was at the bottom of a target range that went as high as 250 pence. Investors may have had concerns about the retailer's debt of about 1.2 billion pounds and increasing competition from rivals such as Marks & Spencer Group Plc, said analysts including Richard Hunter, head of U.K. equities at Hargreaves Lansdown Stockbrokers in London. ``The venture capitalists have made a lot of money in a short space of time, they've slightly sweated it, and investors are thinking that if they are getting out, maybe it's not a good time to get in,'' said Paul Mumford, who oversees the equivalent of $657 million at Cavendish Asset Management in London. Investors ordered more than twice as many shares as were on sale, Debenhams said today. The offering of 487.2 million new and existing shares was the biggest IPO by a U.K. company since Yell Group Plc sold 1.2 billion pounds of stock in July 2003. Debt Reduction Debenhams, which in 2003 was taken over by a group of investors including CVC and Texas Pacific Group, plans to use the money it raised in the IPO to cut debt to about 3.3 times the retailer's earnings before interest, taxes, depreciation and amortization. Last year, Debenhams took on more debt to pay its owners about 800 million pounds in a special dividend. The company sold shares after boosting profit by adding stores and clothing ranges, even as U.K. consumer spending slowed. The sale will be the third time that Debenhams shares have been listed on the stock exchange, the first being in 1928. ``We're pleased with the quality'' of the investors who bought the stock, Chief Executive Officer Rob Templeman, who sold part of his stake in the IPO, said in the statement. Managers including Templeman, Chairman John Lovering, and Finance Director Chris Woodhouse will retain ``significant shareholdings,'' the company said before today. CVC, Templeman and Woodhouse also formed the team that bought and in 2004 re-sold car- parts and bicycle specialist Halfords Group Plc in an IPO. Debenhams, which opened its first department store in 1905, sells items from jeans to washing machines. It now runs 123 stores in the U.K. and Ireland. The department store operator, ranked second in the U.K. after John Lewis, increased its market share to 18.6 percent in 2005 from 15.2 percent in 2003, according to Verdict Research data provided by Debenhams. Citigroup Inc., Credit Suisse Group, Merrill Lynch & Co. and Morgan Stanley are managing the IPO. The banks may increase the sale by 48.7 million shares through the so-called over-allotment option. |
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