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www.arcequities.co.uk is unavailable or may not exist also arcrquities.com is us based real estate broker
be careful that link doesn't work and jacknife is a known professional shorter... look at him attack JSJS on various bb's including setting up his own thread...
I am a 57 woman so you might have to re-imagine that! If you say Miss Marple, I will find you and kill you :-)
Don't worry, I need something interesting to fill my daytime rather than Judge Judy and the Waltons (I retired early so friends still work). I am putting a dossier together and will submit it.
Capital Ideas. See this: http://www.growthcompany.co.uk/news/281076/haddow-backs-aim-candidate.thtml As well as "buying" £100,000 shares at 800K @ 12.5p, they were simultaneously issued a large share of 49.4 MILLION shares for services which were being sold by Arc directly to new consumer investors like me. They must have made a killing! An to top it off, both Capital and Arc had common directors/ex-directors.
Having spent 2 hours looking at this, I think he might spend some time in a much smaller room. Just found some comments on the Internet about the Arc transaction myself and CP22 got caught in. Apparently, the investment that set the value of the Company (i.e. Capital Spreads buying £150K at a certain price) was done at the same time as a 20 fold free issue of shares to the same companies at next to nothing for services rendered. So, we thought they were buying in at the market rate but it seems like it was a ploy to make us think the 15% discount was legitimate. Two posters called "JackNife" and "Sharedealer" seem to be all over it. See this: http://boards.fool.co.uk/worldlink-group-10952928.aspx?sort=whole
The loan has to be a) in cash, b) in services c) in shares. You cannot carry forward your own debts from companies that were liquidated and even so, you would need to evidence them (but you can't in any case). Impossible to have incurred them from Services because he was being paid either directly or as a Contractor. On shares, the correct tax route is to issue new shares to new investment which dilutes shareholders. Buying off a shareholder and loaning back would a) have a corresponding deposit and b) would be regarded as an avoidance to secure CGT rates rather than taxed as a distribution later (trust me, I know this well). So, forgetting the whole amount for the moment, we have the Audited history before and after the £500K loan in 2009. Our upside as shareholders has just dropped 46% in 3 days and only 10% of that is for funds that can be used by the Company. Not happy at all and want those Director shares returned and the "Loans" investigated. Option A: Inland Revenue on the tax Option B: FSA again (must be the Market Abuse team Lucky or you don't get any joy).
The regulator...whoever that happens tp be....should be investigating this...Its extraordinary !
Can you help me understand the huge jump in Mr Riches shares from 2.2m shares to 11 million shares over the last few days? Looking back at the Accounts of the past 3 years, Mr Riches manage to have loans of £900K against his name without any corresponding cash deposits from him or balance sheet entries (cash available to the company). Interest payments to Crispin and himself were £156K in 2010. The interest on this loan is more than twice the combined total revenue of Worldlink since 2007. Plus he received £120K salary and other costs in 2010 and also received £113K in 2008. Crispin received over £200K in 2009. During the entire period, the average number of employees in each year was 2. In 2009, Mr Riches appears to increased his loans by £500K just in that year - no corresponding cash available to the company. The upshot, he had 2.2million shares on Thursday, today he has 11million for a £1m plus loan. Where did this loan come from. It can't be from share related activities because you are required to issue new shares for investment not buy from existing shareholders. For example, buying shares of a shareholder who then loans it back to the company (rather than the normal issue of new shares), is classed as a tax avoidance unless the shareholder pay distribution tax rather than Capita Gains.
The guy in the press all day today on the access to the Prime Minister for money scandal is a) the Conservative Party Treasurer yes but also....b) the Owner of CMC Markets, a CFD/Forex firm with a real-time mobile trading platform that must surely infringe if people like City Index, TD Waterhouse, Esignal and Ladbrokes are alleged to. Peter Cruddas. Surely WGP skills at spinning facts into positive Press Releases can mean they can get a decent angle/publicity from this situation to pop the share price?
it said in the rns that it gave them an oportunity to clear up other matters too. this i would suspect means paying the £150k to parlos so this may have now been discounted from the £350k raised. the thing i noted was the 1p rise in sp following the rns. this would imply too me that the sp is not likely to fall monday+ as a result of the news/placing. one thing though, the so-called "marble arch £8/share" estimate is now worth only £4/share due to dilution...
Agree on the patent and court thing. On the debt matter, no point going to the High Court for a winding up petition if there are a lot of creditors. I suspect that the debtors would view this as the best way to liquidate the debt with the major advantage that the share price is depressed so now they have an big upside too. Good move for them I think.
Good point again, of course the debt would have been settled first from the consideration before being priced for shareholders so it is actually the same. I also rang London Stock Exchange today and they said that it is fine provided they had the shareholders consent to issue first (which I assume was the disclosure in the prospectus) and that a refactoring doesn't get enforced, it is left to the market to naturally adjust. So if 15p is solidified as the floor, all the better. ps. remember they still have to pay the £150K bill to Paros but thankfully no more than that.
WELL THE DEBTORS MUST HAVE CONFIDENCE IN WGP OR THEY WOULDNT HAVE AGREED TO SWAP THE DEBT INTO SHARES (THIS INCLUDES THE DIRECTORS). I DONT EXPECT MUCH MOVEMENT B4 NEXT YEAR AS IT WILL TAKE THAT LONG TO BRING THEIR CASE TO COURT SO I THINK NEXT SIX MONTHS WILL PROVIDE A GOOD TOPUP PERIOD. AS YOU SAY, IF THEY WIN THEIR CASE THIS SHARE COULD GO THROUGH THE ROOF AS MORE INFRINGERS WILL BE MOVED TO SETTLE.
Before the issue they had a mk cap of around £3.5m + £3m debt (@15p) and now the mk cap is £6.5m. So the value of the company is the same, the only real effect is reducing the upside......but on the other hand the risk is significantly reduced as well (not going bust). One major positive is that I'm pretty confident they'll at least make it to the court cases now. which has been one of my main concerns. As long as they make it to the cases then nothing else really matters to me. If they win the SP will still go through the roof anyway.......and if they lose, then so be it. Maybe City Index saw the debt and thought they would never get to court either. Maybe they'll have to rethink things :) (sorry, being too optimistic today)
Unfortunately, this was in the prospectus so nothing we can do. It's in the section "Risk of future issues of shares" listing Falcon, Bridge Hall, Link2Law, convertible loans etc. Well, we know you can't just issue new shares onto the London Stock Exchange and increase your market cap arbitrarily so I wonder if this means the share price will get refactored next week as a normal Rights Issue.. By my calculation, a flat refactoring would be 8.1p based on today's price. For once, I really hope I am wrong, been sat in the sun all day...
Do you (or anyone else) understand these numbers? It looks like they have raised an amount that is 10% of the company valuation but we have all been diluted by 46% in an instant yet Neil Riches is somehow simultaneously back up to 28% ownership? Someone please tell me I am misreading this.
Just seen this. Does that mean with 42 million shares in issue rather than 23 million, our holdings are diluted? I.e. if someone offered say £10million for the company, we would get a lower price for our shares? I.e. £10m/42 million gives a lower price per share than £10m/23million shares?
Neil Riches commented, "We are delighted to announce that we have both raised new funds for the Company as well as convert a significant debt of GBP2.7m. The board regard this as a significant vote of confidence in the development of Worldlink. We have taken the opportunity to tidy up other outstanding matters at the same time putting ourselves on a sound footing to move forward with several exciting opportunities that we are currently working on and we will update shareholders in due course."
Issue of Equity Print Alert TIDMWGP RNS Number : 9912Z Worldlink Group Plc 23 March 2012 For release: 23 March 2012 REGULATORY ANNOUNCEMENT Worldlink Group plc (WGP-L) (the "Company"), a listed company with patented technology covering the transmission and receiving of changing data on all mobile devices, is pleased to announce that it has raised approximately GBP350,000, before expenses, through the issue of 2,261,865 new ordinary shares of 1p each in the Company ("Ordinary Shares") at 15.5p per share, together with the conversion of certain debts and obligations owed by the Company into a further 17,155,859 new Ordinary Shares. The Company has today registered 19,417,724 new Ordinary Shares for admission to trading on the standard list of the London Stock Exchange. This issue of new shares increases the Ordinary Shares admitted to trading to 42,036,383. These shares have been issued and allotted as follows; 1. 2,261,865 shares at an average price of 15.5 per share to provide additional working capital of approximately GBP350,000; 2. 15,701,430 new Ordinary Shares at a price of 17 per share to satisfy certain debts owed by the Company to present and past employees and directors of approximately GBP2.7m; 3. 161,095 new Ordinary Shares following the conversion of the convertible loan stock issued in April 2011 at a conversion price of 90p; and 4. 1,293,334 new Ordinary Shares to replace shares previously loaned to the Company by directors which were sold and the proceeds invested in the Company. Pursuant to the issue of new Ordinary Shares set out above, the following directors' interest in the Company are: Initial Shareholding New Shares New Shareholding New Shareholding % -------------------------- ------------------------ ------------------------ ------------------- Neil Riches 2,244,727 9,647,822 11,892,549 28.3% ----------------- -------------------------- ------------------------ ------------------------ ------------------- Crispin Burdett 1,329,883 4,879,262 6,209,145 14.8% ----------------- -------------------------- ------------------------ ------------------------ ------------------- Anthony Fish 1,420 1,196,971 1,198,391 2.9% ----------------- -------------------------- ------------------------ ------------------------ ------------------- Neil Riches commented, "We are delighted to announce that we have both raised new funds for the Company as well as convert a significant debt of GBP2.7m. The board regard this as a significant vote of confidence in the development of Worldlink. We have taken the opportunity to tidy up other outstanding matters at the same t
placing at 15.5p debt conversion at 17p who said "administration"??
out
quite a few in the 37p+ range unless they have quietly exited.
Tough call really. I have thought for a while that WGP would have upward pops on PR releases so people can make money or exit at better prices but the last few press releases have not popped the share price at all (Chryson, Worldlink Brokers, City Index issuing, new Bet Butler partner etc). I think the biggest actual threat in the near term is potential administration but we will get a clue to the real risk (or not) of that from their 2011 Accounts which must be posted by the end of April. You might also want to ask Gem123 want he/she would do as you will get a more bullish view. Gem123 stated he/she was close to WGP and claimed to know about the One Media offer long before anyone else on the forum. Might get a better inside view from Gem as a few of us are increasingly bearish on the stock. Maybe even a hint about the revenue/profit for 2011.
What would you do? Got £4k in here at 29p, the price has gone down ever since. Should I hold on and hope to get my money back or take what's left? I can't really afford to lose £2k but definitely not £4k!