Wyg Share Discussion Threads

[value viper] 19/4/2018 14:15

What do u mean tiger ?

[castleford tiger] 19/4/2018 14:06

could it be the sale and re purchase?

Tiger

[norbert colon] 19/4/2018 13:27

AB Traction are not necessarily an activist investor and at the time they were involved with Waterman I think they were their only investment outside of Scandinavia. Clearly the valuation at £22m prior to today's rise offers huge value for anyone who believes in the potential turnaround. AB seem to, as do I and I have added to my holding this morning.Only 6.6m of the 13m shares traded are accountable to AB so I am also keen who the other parties are I these transactions.All positive stuff anyway....

[ilovefrogs] 19/4/2018 11:42

Definitely a positive development. They won't sit passively by here, but will chivvy the management to create shareholder value. A small filip of relief after a dreadful share price run!!

[ilovefrogs] 19/4/2018 11:39

They're an activist manager, so one step away from Private Equity. Still a pretty positive development as they will not sit passively on their investment.

[dangersimpson2] 19/4/2018 10:09

AB Traction holding RNS seems to have kicked off a bit of buying interest. Not sure why though since they seem to be an investment company not a trade player. I guess maybe WYG & AB Tractions holding in Hifab might make sense for consolidation:





Still think WYG will eventually be taken out given the consolidation in the sector but not convinced this holding RNS is the starting gun that some obviously think it is.

[castleford tiger] 19/4/2018 10:01

I saw the trades going through a couple of days ago. Close to 10%.

This puts us firmly "on the market" for a bid.

Tiger

[jimmywilson612] 19/4/2018 09:17

Quick read up on them on their website says they are active with their investments, assisting management etc.

Interesting they were major holders in Waterman, reckon they will push for a sale?

[jimmywilson612] 19/4/2018 09:17

Quick read up on them on their website says they are active with their investments, assisting management etc.

Interesting they were major holders in Waterman, reckon they will push for a sale?

[value viper] 19/4/2018 09:14

what are u thinking Norbert here out of interest ?
activist shareholder ; precursor to further stake building ?
working on behalf of current mgment re an MBO / MBI ?
do we see it as a positive ?! i don't think it is bad news......
i have seen VERY large tranches of shares at or sub bid price printing recently

[norbert colon] 19/4/2018 09:10

They were also major holders in Waterman Group (WTM)

[value viper] 19/4/2018 09:06

Look who has just taken a 9% stake - interesting ??

AB Traction is a private equity firm specializing in buyouts, PIPES, and restructurings. It invests in public and private companies. In private companies, the firm invests in turnaround projects, reconstructions, management buy-outs, and buy-ins.

[topvest] 14/4/2018 18:01

I will revisit once the Annual Report is out. It’s a value play at some point, but maybe not quite yet. No rush.

[value viper] 12/4/2018 13:57

Well, someone wants outAt least the bid is holdingThis is gonna be a long slow burn any holdersUnless something opportune crops up

[norbert colon] 30/3/2018 18:39

I had a very open mind about their results for this year given the early stage of the turnaround and various headwinds. On the positive side they seem to have pretty much stabilised the operating business and hopefully the actions taken to-date by the new management will provide a stable footing going forward.Order book is also still strong.On the down side, the write off of North Associates is disappointing given it cost WYG circa £5m only 2-3 years ago and I believe part of the cause for its failure was lack of integration but the Cumbria market has also been tough.Management have also highlighted that 2019 isn't going to look much better however I would rather them be cautious and realistic.This was never going to be an overnight turnaround and the valuation remains compelling. Personally I have been a little over optimistic to-date but I firmly believe that value will be realised over the medium term and I look forward to reading the full results.

[topvest] 29/3/2018 20:50

Same old story unfortunately. Adjusted earnings. No real profits. No real cash generation. Not changed in 5 years. Not tempted to join the party / hangover at this stage!

[value viper] 28/3/2018 19:38

Norbert / Tiger any comment on today's brief update ?

[value viper] 28/3/2018 08:19

was hoping for a bit better than that if i'm honest.
still not another profit warning which is good (!)and suggestion is operating profit is moving up - so OK, slowly, slowly
not sure i was expecting the exceptional losses they have mentioned either
hhmm - firmly in the bottom drawer

[norbert colon] 09/3/2018 21:53

Yes he was there only a short while relatively - I am not sure who instigated the sale of Sweett or whether Currie and Brown just came knocking but I know WSP were very interested for a long while but they missed at by not wanting to dig a little deeper.With a £170m order book and valued at £28m mcap the vultures will be circling here and they have only stayed away until now I perceive due to the old management and very poor cash profile. Patience will be rewarded.

[value viper] 09/3/2018 20:53

DM seems went into Sweett for a short while only, tidied up a horrid mess and arranged for the co to be sold........

[norbert colon] 09/3/2018 20:43

All salaries are in the Annual Report. Fairly standard salaries as I recall. I was disappointed at the level of Director buying recently which was not much more than a token gesture in my opinion. I would certainly welcome the CEO and FD having a much higher shareholding and will be raising this with management next time we speak. Also the new NED has yet to buy any stock. Investors could take the view that if management aren't buying then why should investors but this is not always a good acid test as I found out when buying Waterman shares at 40p and the Board weren't really interested themselves. The FD never bought any stock at all - they were acquired for 140p as I anticipated.

[value viper] 09/3/2018 20:24

could the directors be buying more before the update due towards the end of the month ?
t think they could be and probably should be
have you any idea how much DM / CEO gets paid out of interest ?
just been reading a little bit on his tidying up a big mess and selling Sweett Group in the summer of 2016