Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
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Not exactly hot off the press (dated 20/10/2020) but not previously referred to here ... I would be interested in any comments
https://www.law360.com/insurance-uk/articles/1320593/pwc-drags-slater-gordon-into-watchstone-s-63m-suit
Gave up bikes in the early 90's myself ! Last bike was a Honda CB900
Good one, I was thinking I hadn't thrown enough cash at this share ;)
I can't find anything other than what was in the RNS. We're suing PWC for £63M and they deny any wrongdoing.
If we win that one I will take the money and run... to the local motorbike shop. One can't have too many motorbikes.
Just joshing with you, I do have the home in Rural Devon and the trout stream etc, but WTG didnt pay for it !!!
By the way I havent been watching this for a while, whats happening with the latest court case ?
Clearly you have a few more shares than me. That said I do have an eye on a modest place in rural Worcestershire near Malvern.
I spent mine on a home in rural Devon with a lake 4 acres and my own trout stream with 400m of fishing rights !
@Furry-ears: long time no see! Hopefully you made it safely across the desert and are now safely installed at an oasis somewhere.
From here my understanding is that it's solely about concluding various legal claims (including others potentially in the pipeline), then winding-up the business and returning the cash to shareholders.
I guess there are other options, however they wouldn't fit with the long-stated end game....unless of course something comes along which increases shareholder returns.
Stefan Borson has been clear on that as the focus.
ATB
Got it, spunked it. Now have a nice new motorbike race suit, sexy garage equipment, tyres for 3 cars and 2 bikes, new amp and speakers for the 'study' and even a couple of modest investments. Any thoughts on us getting anything from the Ingenie sale and timescales on PWC case or that business in Canada?
Good evening to all invested here from the oasis and especially all long term holders.
Hope you've all got your sacks bulging now with the very nice £1.50 cash return and certainly helped with a very large tasty fig purchase.
Looking forward to much more hopefully soon and will be very interesting to see the outcome to one or two litigation proceedings ..... especially the pwc one (boohoo !! i say , see what i did there)
Any thoughts / ideas on where now, after all of this for the company in the future ?
Atb KTC
addicknt... When you say monies divied out , do you mean the proceeds from Ingenie disposal ? thanks.
Yup.
I'm here till the end....with just cash holdings and significant litigation already underway I can't (currently) see any reason to sell.
GS, pleased to hear it worked out for you.
Once all monies have been divied-out will you retain the shares as the company becomes a cash shell? I guess if they are effectively 'free shares' it may make sense, as there could be a possibility of someone taking it on - although it may not necessarily be the cleanest of shells. The significant advantage it would have are the tax losses, which I'm assuming could be carried forward.
Hi Addicknt: LTNS!
Its getting closer, for sure.
SFO cleared the company but the enquiry is ongoing ;-). Litigation is ongoing against PWC, Aviva Canada & potentially KPMG as well as a VAT claim from the Ingenie business.
Ironically, after the recent capital returns of around £160k and an ongoing average cost of 32p on my holding, the original dog has been groomed into a Best of Breed Winner.
But go through it all again? No thanks.
look at this page but decided to see what was happening.
So, the whole sorry saga appears to have come to end. What will happen to the litigation?
Anyway, I hope some of you salvaged a few bob and I guess everyone will have to wait and see what happens to Terry.
It would rather depend on where the money they pay out comes from and how much it is compared to how much they have. There are developments in the pipe-line that could increase the wealth of WTG considerably. As such it is impossible to guess anything either way.
Expect this epic tragic comedy to continue for some time. The alternative is to sell and then it won't bother you, although I should add that I won't be doing that.
If they announce another £1/share then obviously the sp cannot go to -40p from where it is now but I can imagine it going to a few pence. However, it dropped by around £1 after the last payout.
The share price never dropped by the 50pence it paid out last time.
** I meant to say "less than 50p" in the 2nd bullet but you get the point.
@robina Here's a couple of thoughts
Let's assume the sp is 50p when another CR is announced, for simplicity.
-If WTG announce another £1/share to be returned: what would you do as an investor? What do you think would then happen to the sp in the time between the announcement and the cut off date?
- if they announce 50p/ share it changes things, but I think it comes down to how many free shares you want.
If there was another capital return - surely the sp will drop by that amount as it did last time, making it worthless?
Thanks for that. It was an earlier consolidation that was 1 for 15. I think perhaps just after the dividend was paid.
RNS Number : 9446E
Quindell PLC
09 November 2015
HIGHLIGHTS
· The proposed Return of Capital to shareholders in December 2015 will be of approximately £414 million in aggregate.
· The effect of the proposed Reduction of Capital and Return of Capital will be that for every fully paid ordinary share of 15 pence each held at the Record Date (as defined in the Circular), a shareholder will receive 90 pence in cash.
· Trading in Ordinary Shares ex-entitlement to Capital Return is expected to be on 18 December 2015 with the expected dispatch of cheques to Shareholders or crediting of Shareholders' CREST accounts (as appropriate) in respect of Return of Capital entitlements, on or around 31 December 2015.
· Conditional on the approval of the Reduction of Capital and the Return of Capital at the General Meeting and by the Court, the Consolidation would consolidate the Company's ordinary shares so that every 10 ordinary shares with a nominal value of 1 penny (after the Reduction in Capital) would become 1 ordinary share of 10 pence (such shares having the same rights and being subject to the same restrictions (save as to nominal value) of the existing ordinary shares).
Wolfbag2Thank you for replying I had a note saying I had 900 shares at 90p= £810 I am still waiting for it
""..the CONSOLIDATION was 1 New share for 10 Old shares""
As I remember it was 1 for 15.
23awel - If its what I think you are referring to - it was not bonus shares - it was a CASH return and a CONSOLIDATION - this was all in DECEMBER 2015
The CASH return was 90p/share
the CONSOLIDATION was 1 New share for 10 Old shares
So if u had 1000 old shares - you would have got £900 and 100 new shares