The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
HOW ON EARTH CAN A COMPANY WITH A MAIN LISTING AND SUBSEQUENTLY SUSPENDED AFTER 6 MONTHS, THAT OWES £3M+ IN DEBTS, MADE A PROFIT OF ONLY £3K AND WITH ASSETS OF ONLY £64K JUSTIFY PAYING ITS DIRECTOR £2.2M+ IN PAY AND "BONUSES". IF THAT IS NOT A CASE OF FRAUD AND DECEPTION THEN I DONT KNOW WHAT IS..! EVEN WHEN COMPARED WITH BANKERS THIS IS DREDFULL. THIS NEEDS SERIOUS INVESTIGATION AND QUICK. SOMETHING NEEDS TO BE DONE TO CLAW BACK THIS SCANDLOUS PAYOUT TO SOMEONE TO OBVIOUSLY HAS NO PLACE RUNNING ANY SORT OF BUSINESS. IF ONLY FOR THE SAKE OF PROTECTING OTHER POTENTIAL INVESTORS THESE ROGUES NEED TO BE ROUTED AND PREVENTED FROM EVER RUNNING A BUSINESS AGAIN.!!!
well since wgp havent given a toss about its shareholders from the start just using them as financial fodder whilst reporting endless false/misleading rns i shouldnt doubt that we will be left guessing forever. bet ritches and his band of crooks are still getting their wages payed though. Comeon ritches defend youself or have you not the guts to face all those shareholders you have blatently ripped off!!
well in wgp case i would say no news is bad news. in any case given the misleading nature of the rns released by wgp who can have any faith in what ever news they release. i dont think we will get any news b4 mid next week after their creditors meeting then expect "wgp regrets to inform the market that pending clarification of its financial position......."
well i bet there not too insolvent to pay their own obsene wages for doing sweet fa. maybe it would be a good idea if their wages were suspended untill the accounts were published instead of screwing all us investors/employees/consultants etc.
the insolvency notice was dated 3 sep 2012. wgp directors must have known of this b4 they held their agm. so if it is such an issue/threat to worldlink plc then why bother holding the agm to reapoint mr ritches as director and agree issue of more shares. it ouldn't make sence to do that.
worldlink are acting in partnership with betbutler as gaming partners to the clubs etc. betbutler do the gaming and have the licence whereas worldlinks part is in providing the communications platform for betbutler as such they are not them selves taking bets etc so i dont think they actually need a gaming licence just for providing a comms platform to an already licenced betting company.
i was refering to the speculation that stephen pearson had pulled out of wgp and speculation regarding the ellis fund not materialising. these were both mentioned in previous rns but if they have fallen through i would have thought wgp as a listed company would have an obligation to inform the market of this (if it is the case).
RNS 7th sep 2012 4.31pm the board of worldlink group regrets to inform the market that results due to be published week comencing 3rd sept 2012 will be delayed untill the week commencing 24th sep 2012. this is due to n.riches managing director getting drunk and falling off a 5th floor balcony while on holliday in marbella. . wgp a leading technology company speciaalising in patent technonoly for the mobile market ...............
well its thursday now.. still no results.. just waiting for the expected rns friday evening with the next excuse. "the company regrets to inform the market...........................etc" about sums this company up. just a bunch of jokers and connmen. Where is the fsa in all this? i thought they were supposed to act against this kind of behaviour!!
one small consulation. why would wgp pass resolutions to issue more shares at their agm a few days ago if they were about to go into administration and the shares not be relisted. obviously they would have known of any impending problems with regard to relisting/financial position when they held their agm.
it might be worth emailing fullham & newcastle fc to see who their official betting partners are just to see if they are using wordlink sport/betbutler too as there has been speculation that fullham are not using worldlink/betbutler.