Member Info for Bigears1170

He has until the end of March to hold his GM.…. I suspect he will use every day of it ( assuming they don't go bust in the meantime ) ….!

I wonder if word of the fiscal debacle has filtered through to their clients?

What are they to make of the uncertainty of employing a financial basket case?

Pompous Peter ( hanky in pocket ) traipsing around the wonga.com financial community, ar$3 hanging out of his trousers & cap in hand , if I were employing WSG I'd be exploring all of my options to press the “eject “ button.………

“ Has Zak had his crystal ball out ? Are his musings as prescient as your post from October ?

“Tipped on breakout capital ventures ,want to hear what he called those derampers on wsg lse pages ,couple bags on chart predicted possibly ,well liked on his podcast “

Anyone following that post in would be the thick end of 50% down

There’s nowt to “ ramp”

Its the first time Fowler hasn’t been in control of his own train set …..

It’s a mess , Pantheon have been tucked up and will be mightily hacked off , yet Fowler can’t issue any further shares without their approval ….. they will ( understandably) want to minimise any dilution…..with an SP of 0.6p I’d suggest Fowlers options are minimal .

Who would bet against the nomad resigning directly after Suspension?

💯 Misty

My guess is following the AGM….

£500k OD with the Clydesdale bank is what they have

Agreed …I believe they have a £500k ish OD ? plus the Pantheon £500k loan from July.

My thinking stems from SL having taken a hit in revenues… !

If we accept Dr M’s number of $25 Pax , this suggests the contract has taken a 36% hit …. So a circa £1.2m shaped hole in the YE accounts based on 120K pax per year.

I accept Gabon ( even if you caveat its value based on historical “Peter Projections “ ) will pick up,some of the slack - however it will still IMO be a loss making business ,reliant on periodic placements .

“ Wonder how Pantheon feel as ‘25 closes? “

At a guess.…Financially de-bagged , Royally tucked up , sold a pup etc etc etc

$39 pax was as per the contract.

$25 per pax has never been a number other than in your imagination, even if it were correct it’s a 36% drop in revenue at SL …..

100% yrabs - look at his family’s holdings company on companies house - no delay with filings there …

100% agree - this pos is flashing red

Most of it matter of fact , the remainder of it legitimate conjecture…..

For any bod to be withholding YE accounts in this way they must make for horrific reading.!

IMO they are being withheld owing to an unfavourable auditor's opinion…… which I suspect stems from a downward revised pax fee at Freetown airport.

Fowler has been at liberty to reassure shareholders that the contract fee, terms and conditions had remained unchanged as per their original contract, yet he has chosen not to make that statement, nor any of his usual nonsense projections based on the new airport capacity, which older comrades will recognise as being one of his go to traits ( don’t say what the contract will earn £ say what it could earn if the pax were maxed out ) embellish the numbers and shout any remotely good news from the rooftop…. Yet hardly a peep on the subject….!

The simple fact is that SL revenues have been propping up this business for years!

I’d invite anyone to go and research just how little it costs to employ people in SL, look at the numbers. You will see the profits from this contract will have been eye watering… but squandered across the group on the umpteen Fowler family vanity projects, , training, Euro ops, Cyber & Defence, spring to mind, more companies than you can shake a stick at, not a single one generating any profit.

Summa has a 25-year contract.

The said contract gives them the sole and exclusive collection of all aeronautical fees and airport revenues, with no deductions, allocations, or sharing with the government or third parties. ( so WSG’s previous contract collecting revs via IATA went straight into the dustbin ) .

WSG’s original contract running to 2027, at $39 per dep pax had the all-important caveat …” exclusivity for new security services “ is “subject to agreeing relevant terms”  and costing.

The "subject to agreeing terms" clause gave Summa (and SLAA) an out.

WSG's contract with SLAA was for the “ existing “airport; the new FNA terminal was a greenfield BOT under Summa's ops from day one.

WSG signed a  “NEW “ contract with Summa Airports in April 2023, not a peep was said about this until then finals….!

I would be astonished if a savvy outfit like Summa (and their backers) would pony up $270M to build a shiny new airport only to see Fowler trouser the thick end of $4m per year to scan a boarding pass!

The financing of the airport build was 100% private equity.

A circa $4m per annum fee to WSG for scanning a boarding pass would have been a contingent liability no private equity investor would have agreed too.

To give WSG,s $39 per dep pax some context - Summa runs the entire Diori Hamani International Airport in Niger for $52 per dep pax, they know exactly what it costs to perform WSG's role, and that is what they will be being paid, at a guess a cost plus arrangement!

Get the 30th Dec AGM out of the way , finals RNS’d directly after ,followed by a gargantuan placing/dilution for shareholders in the new year to

🤭

If I thought the company were breaking the law I would come straight out and say so ….. Everything this company does is within the law. They make sure of that.

Section 437 of the Companies Act 2006

Key extracts:

1. The directors of a company “must”, in respect of each financial year, lay before the company in a general meeting copies of its annual accounts and reports…

2. This must be done within the period allowed for delivering the accounts to the registrar (i.e. 9 months after the year-end for a public company).

As I said , 99.9% of companies do this at their AGM . That Fowler has committed to a 2026 GM suggests he won’t be tabling the accounts at the 30th Dec AGM.

Agree Misty

AGM 10.00am 30th Dec 2025

RNS 24/25 Finals 11.00am 30th Dec 2025

Placing Early Jan 26

GM any time within 9 months of financial YE

All in my humblest

The bulls selling that narrative that everything is ok because uncle Peter is going to lay on a cosy GM for a new years gathering of the faithful ….!

Section 437 of the companies Act 2006 states that the PLC company will – “Lay the accounts and reports before the company in a general meeting”… for 99.9% of companies that GM is colloquially known as “ THE AGM “ .

Fowler has confirmed the New Year GM .

That Fowler is pulling this stroke suggests that the Finals are going to be released “after “ the AGM …. !

He is legally obliged to hold the GM 9 months from the financial year end , so as late as the end of March 2026 if he so chooses.

If the accounts were tabled at the AGM he wouldn’t need a GM.

To be going to such lengths to shield those YE accounts from shareholders suggests to me that they make horrific reading ….. I’d add that whatever they are cooking up for the AGM isn’t in the best interest of the humble pi … …… my guess is some truly random resolutions will be getting passed whilst everyone is looking the other way ….. followed by finals RNS straight after the AGM …… followed by a huge discounted placing in the new year.

All In my humblest opinion…….😐