Worthington Nicholls Share Discussion Threads

[coolmd] 13/3/2008 14:04

Thanks r1ngo

[r1ngo] 13/3/2008 13:53

i know, coolmd.

also apologies for dragging this thread off topic but i could not resist.

we all know venlib's watching this board so that is satisfaction itself, even though we won't get a reply on the subject.

that's it from me on this BB, unless i see any comments that are inaccurate about WNG like we've seen before

onwards and upwards for the share, fingers crossed and best of luck to those who are holding!

[iiinvester] 13/3/2008 13:51

Coolmd

Fold count was 3 at the last reckoning :-( Allegedly and IMO!!
Venlib is all over other BB boards spreading her/its own brand of sunshine around regarding WNG.

[windjammer] 13/3/2008 13:46

looks like MM`s charged a premium for the 70k so not giving much away

[coolmd] 13/3/2008 13:28

Anyone know what the 123,000 ? is today??

[coolmd] 13/3/2008 13:27

ringo

Their installs??? That's exactly what they are 'subbie' installs, they miss lead the fact that they are their jobs when in fact they are their customers projects installed by them.

Europes largest!! and leading!! Trotters Independent Traders have more skilled
labour. Has anyone looked at how many times they have folded??

Venlib lives in a dream world, been a bit quiet this week though perhaps he can't admit he got it wrong on this one??????

[iiinvester] 13/3/2008 11:42

r1ngo

Have a look at their installs - no news since 2004! We knoew Venlib lived in the past but......

[r1ngo] 13/3/2008 11:37

i just clocked altertherm's website -

'Europe's largest and leading air conditioning company - manchester - portsmouth - bury - london'

arf - what was that you were saying about spin, smoke and mirrors venlib??

[jackbal] 13/3/2008 11:26

Thanks Coolmd.

[coolmd] 13/3/2008 11:02

Jackbal

Not published, was told by one of the surveyors at Bruntwood Woods have are prefered supplier and are successful over Mitie. Woods have experience with this client in the past.

[jackbal] 13/3/2008 10:04

Coolmd - when you say news is out, where is the news published ? I would like to see evidence of this contract if possible

[jockblue] 13/3/2008 09:44

fillipe

I agree that SB is cutting out the loss making contracts, and has made accounting provision for them in the big bath. If he has funding from his backers, then as you say, they will need to be satisfied that not only has the company's trade turned the corner, but that the prospect of any legal action against the company has receded. There's little chance of any insti investing or bank providing facilities if the funds will be challenged in the courts.

As a result, I suspect any acquisition is a long time off....as I said before, a good set of post-apocalypse results will be the minimum to persuade people. As evidence, I suggest that the company's note about finding a Non-exec is fairly telling....

In due course, the Board regards it as important to appoint a Non Executive
Director. However, at the current state of the Company's development and in the face of considerable legal uncertainty relating to previous events, the Board regards it as unlikely that a suitably qualified and experienced Non Executive Director will be available. It is to be hoped that once the issues arising from the recent period of instability have been resolved, a suitable candidate can be attracted. In the meantime, the Board is receiving detailed advice from the Group's advisors in order to ensure that appropriate corporate governance is imposed, delivered and supervised, in particular with respect to any communications with shareholders.

...if they can't attract people to work for the company due to uncertainties, no-one would make a long term investment on the same basis.

[coolmd] 13/3/2008 09:35

News is out that WNG (Woods) have just one a very large very profitable contract with Manchesters Premier Property developer and owner Bruntwood with others to follow. If they can stand by them and have faith in WNG then others will surely follow...

[fillipe] 13/3/2008 09:23

I agree with you about the higher "hope" value, Rocketfuel, but for now all the news is out and it's likely that this share will go much more into slumber mode until some new initiative is announced. In these situations the future value tends to get temporarily lost and the share price justs drifts - usually down to NAV or thereabouts until further newsflow gets everyone excited - the interest being magnified by the share's penny share status and the unusually high level of interest in a business where there's not much left except hope.

[rocketfuel] 13/3/2008 08:06

I think the hope value is worth more than you think with this management. Its reputation is in tact whereas the analyst, amongst others, me included have been made to look foolish.

[eoc74] 13/3/2008 08:06

Jockblue, SB stated clearly that he had already cut out the loss making divisions and that loss making contracts were being completed and only profitable ones taken on. My suspicion here is that SB has funding in the bag from his backers if he can prove to them that hes cut out the loss makers and is turning the corner. As for the 7.5p options, I cant see where the mystery lies? I would do the same. As for the last poster saying its 7.5p because the share price is too high now, how do you think his backers in the instis would look at that? He gets 4m at 7.5p and theyre stuffed with their 170p placing last year? I cant see how they would agree to that.

[fillipe] 13/3/2008 00:25

It's 7.5p because the current share price is too high for the little that's left there. See the D.Tel/Daniel Stewart comment March 12th. Hence the drop after the initial euphoria wore off today and probably a further fall to come to bring the mkt cap down to what the outfit is currently worth, plus a bit of extra hope value.

f

[mudbath] 12/3/2008 14:50

Coolmd

What made SB elect on a price of 7.5pence????

windjammer

FLO-my share of the year @ 44pence is doing very well--thankyou-.UP circa 30% already and we havn't even started+++all the goodies that go with a decent stock such as dividends etc.

[jockblue] 12/3/2008 14:49

Some more comment from the MUEN. Bit of a truncated quote from the Daniel Stewart fella, but there's a nice picture of our hero....

[jockblue] 12/3/2008 14:45

Ah, so not the Mail, but the Telegraph......



Can't work this bit at the end out though....

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.

Why one or the other....if the remaining divisions are basket-cases, then how will an acquisition help them. Surely the only way is to cut out the loss making bits of the business. I also cant see how they can possibly fund any form of acquisition - there's not much cash if you use it for exceptionals and losses and possible legals, and the paper's worth little to nothing, so it just seems illogical to me....

Am I missing something here chaps?

[iiinvester] 12/3/2008 14:44

Jockblue/coolmd

Its the daily telegraph

[coolmd] 12/3/2008 14:32

jockblue

No but go back through todays posts and there is a copy of the article from early this morning.

[jockblue] 12/3/2008 13:33

Any link coolmd....

[coolmd] 12/3/2008 12:44

mudbath

What makes think 7.5p? This will have a steady rise maybe only 2p a week initially but once news breaks of Mr Beart finding a decent-sized acquisition is released and he is looking this will jump suddenly to mid 20's. See todays Mail...

[windjammer] 12/3/2008 12:35

mudbath

how you getting on over at FLO, see you are treading water, are you looking to get in over here 7.5p forget it, you will have to pay the same as everybody else