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Aiming, i genuinely hope this share works out for you, some belief you have. I can’t stick with anything these days. World is so full of BS.
yrabs: if I'm honest I don't think that grumpy investors have any impact on Pete.....i truly believe that the share price is massively undervaluing WSG, and tbh that's on Pete. but i'm not too bothered about little updates when i know we just have to wait for the ratification and for the numbers to start flowing through...yes it's jam tomorrow, but at least the jam is now bought and in the cupboard, ready to be spread...just need to figure out the childlock on the door!
And so meant bone would do….q3 numbers perhaps . Just to say… London projects all good, SL numbers. Liberia, certic…. But nope, nothing… nada…. And Aiming you live in hope rather than confidence that all will come good. I respect that, but if there was no grumpy shareholders, Pete would quietly just keep rinsing us and repeating… until your 2 million shares are worth less than a Ford escort. B
I have had enough 180s with Peter to become the broken record that I am. I restored my faith in Fowler in July as he had 2 new msc’s to play with. What could possibly go wrong I thought. Well looks like the smoke and mirrors have come out. If the ratification was a formality and weeks not months, it does make you start to worry that the DRC procurement process may have not been followed. And Pete is in hiding. I wonder if Pete is actually responding to DRC issues rather than just checking the post everyday . If the former it would be nice to know what the issues are and can they be fixed. The problem here is we are getting back to pre msc share price, meaning if there is a problem then the 3s is a certainty. Just need some clarity from wsg and as we know Pete don’t do that. B
OT: fwiw i'm still confident that this will come good in the near term...yes there's been a delay, but this is Africa....it' show things work. Tema seems to be chugging along nicely, the 2 high profile London contracts are underway and it's just a case of waiting. it is frustrating, but now that we have these new long term contracts i'm not so worried.....for now i wait. if i can top up in Feb post bonus then i will...but i'm not hopeful that it will be in single figures then.
i'm hopeful that yrabs will have had another 180 and be back to being a bull by the start of 22......just worried he lose faith at the worst possible time.
ontarget, we have been waiting 2 years for the African government re-org for another Westminster certainty..... With Pete having gone silent accompanied by his grumpy tone from the webinar that short term delays set against a 20 year backdrop shouldn't be continually seen as bad...... however as I have said before, the 20 years doesnt start until the gun goes off.... and there seems to be a gun to be found... and if he can wait 2 years plus for his other african contract, then why would he be bothered if this one drags on... after all he has the cash now, family xmas party can be booked.......B
Yes, just needs the one RNS we are all waiting for 'Ratification and operations commenced'. Can't be long now surely?..
Assuming it's not fallen through of course!!!!
Is this ever going to bounce?!
Just popped in to say hello to the LTH's who are still here having spent around 9-10yrs in this share up until a couple of years ago, it may have been longer but I see the rhetoric hasn't changed much with Fouler. sorry Fowler, both stink after a while, honestly guys I admire the perseverance shown by yourselves, but the fact is Trump was a godsend for him, he didn't have to make something up for a change. No I'm not deramping as there is no need, he's a Tw,,t who has had countless pi's over, this type of company used to be countless in the eighties, now thankfully just a few who have to go to the High Court in order to survive for a few more years. That's the bones of it.
AH21 - I suspect that you don’t even know whether you’ve been fooled or not by Fooler this time.
For many here, what this actually means, good or bad, is not clear as it’s generally a corporate share and capital structure matter. Don’t expect the company to explain to the layman.
Only a fool will be fooled by the Fooler lol
Steve, that string of RNS will get us in to the 6s I am afraid...... The £15M FY21 revenue is looking more like a pipe dream as we enter the last 2 months without any news on revenue or big tech sales.......... DRC looks parked and Pete has gone on holiday it seems.... B
Thanks Gibbo, fully understood…. I hadn’t appreciated the size of the SP and DS accounts…. So no impact on shares in issue.
Once completed, the BS should look extremely tidy with Positive Retained earnings before the impact of this year is factored in.
More scope for wider share ownership and consequential impact on the SP …. Onwards and upwards.
All we need now is a string of RNS’ before the year end to get us into the mid teens
Fooled by the Fooler agin hahahahaha
Steve the reduction in nominal was used to create the deferred shares, they will be cancelled along with the share premium balance and will be applied against the accumulated losses.
Gibbo, so you’re saying it’s likely to be share premium account and a reduction in deferred share nominal to offset the RE deficit ???
This is already priced in the shares; and as for dividends, very funny, best joke I have heard in ages.
Thanks that does make sense. I still have hope. GLA.
Ye gods. There is no hope. A capital reduction is not a share consolidation nor a share buyback. It offsets share capital against accumulated losses by reducing the nominal value of the shares. The difference between old and new nominal is offset against accumulated losses to reduce them, thereby reducing the amount of losses that need to be covered by future profits before a dividend can be paid.
The initial announcement was "To approve the Capital Reduction, by way of a cancellation of the Company's Deferred Shares and the Capital Reduction Shares created pursuant to the capitalisation of the Company's merger relief reserve." Anybody got a translation into English?
Correct....I don't think you can expect any dividend for a long while, but the company want to use potential surplus cash to buy back shares in order to reduce shares available on the open market.
Positive move no doubt about it.
Capital reduction is the process of decreasing a company's shareholder equity through share cancellations and share repurchases, also known as share buybacks. The reduction of capital is done by companies for numerous reasons, including increasing shareholder value and producing a more efficient capital structure.
No we’re not writing off any assets. We are performing a capital reduction once it is approved by the High Court. This will of huge benefit to shareholders as it will enable the payment of dividends much earlier than without it once the DRC (and other) contracts are up and running.
I dont think there will be a share reduction/ consolidation, but if we are writing off assets then the share price will reflect a lower value with the same volume of shares in circulation. I'm confused.
It says to clear accumulated losses - which are in excess of £20m … so how’s that going to work to the benefit of any existing LTH …. SP wise ?????
Any guesses at the SP after all the accounting entries have been made or what the share reduction ratio will be ??