Member Info for Only1Gibbo

OMG, I've just read the rest of your post "and, in fact if these contracts are close,.. than it could actually damage our chances of getting them across the line."

Did you seriously write that? I can't stop laughing. Please stop, it's hurting too much.

Mike you say "I'm not suggesting Votes of No Confidence etc" but your post of 17 April clearly states "If they fail to respond,.. that only makes our case stronger for a vote of no confidence etc."

So which is it to be, do you want a vote of no confidence or don't you? You can't have it both ways. You're proposing a coup at the AGM but you can't even seem to make up you own mind whether you want a vote of no confidence or not. Ye gods, and you have the nerve to criticise others.

So you came to your senses, but then only took out 50% - that sounds very half brained to me, or should I say 50% brained.

But let's look at your 11 Jan post in a bit more detail. It reveals that you didn't take it out because of your concern for WSG but rather "I had to take some of my eggs out of the basket as GMS was to tempting ...…" Your words not mine.

You took your money out because you saw an opportunity elsewhere. Nothing to do with the last cash raise which you now tout ex post as a reason for your actions. It is very clear for all to see from your own words that you saw an opportunity elsewhere, sold down, but not all, just in case any of those positives you had talked about for months on end came to fruition. Now you clearly just want back in at as low a price as possible. Shameful my friend. Shameful.

And in answer to your question. No, I don't think we have been taken for a ride.

Ned on 3 December you posted

"I’m more focused on what’s happened in the past year....... your like a broken record Joe. You might be proved right in the long run, but my underlying point is that the past 12 Months has bought new contracts and income, we keep adding to these and this is underlying the current share price. If and hopefully when we get another MOU or god forbid the Iranian contract the sp will rise considerably. "

Also on 3 Dec
"We have built up our income this year and should keep the current sp stable so we just need to sit tight and let this unfold politically, yes, frustrating, but the underlying business is good tbh. Much better than anytime over the past 7 years?"

On 24th Dec
"Ho ho ho very encouraging and a welcome update. Like I have said before this feels a different beast from years gone by. The fundamentals are solid with new contracts and business this year underpinning the current share price with the added bonus of the Iranian contract and the one other ........ looking forward to the next 6 months ...…"

30th Dec
"However, like I've said before, I believe the last year has been a turning point and 2019 looks promising, underlined by the recent RNS. GLA.."

24th Jan
"News is on the horizon, belt up for the good news on our financials and god knows what the news will be re the outstanding draft contract and I suspect not much change on the Iranian one.......could be a transformational year. Would be a great confidence booster if we nail the African contract though , fingers crossed ."

29th Jan
"I’m prepared to say that Iran and the African contract will happen this year, and all whilst wsg is adding to the strong foundations it has established last year."

31th Jan
"Imho very encouraging RNS, for those that been in WSG for a while would be mad to sell out now, I’m holding and more hopeful now than at any point. Onwards and upwards. Patience needed. Great platform to push WSG into a much bigger company and into a £1 + company within 6 months or so"

2nd Feb
"Well fellow SH’s this is shaping up nicely, just one or two ducks left to line up, if that. Fingers crossed that WSG will caterpolt into an unrecognisable company within the next 6 months and the future will be even more rosy with other contracts in Iran and the rest of Africa or Middle East"

But now you are saying "I have emailed them In the past that I think they are using these raises to pay themselves with no sight of a contract signed. It’s all complete BS! Big contracts where? "

I think I know what is BS here Ned. Maybe it has something to do with

11th Jan
"Well I sold 8k’s worth this morning and ploughed it into GMS. But I still have 32k or woz when I first invested,

15th Feb
"Lol I sold 5k worth but still have 13k left in just in case"

Just looking for a cheaper re-entry are you?

The ex board member that I know still speaks very highly of PF. He wasn't family either.

Oh and I forgot to ask, how much is this coup going to cost us if you are successful?, they'll be notice periods of each of them for sure that will need paying up, severance costs on top. I'd expect each of them to be on at least 12 months notice. Then there is the severance costs for all of the other Fowlers, I assume you're going to bayonet them as well afterwards given you "have serious concerns about the amount of "Fowlers" on the payroll,...and whether they are best qualified to carry out the roles they do" . There's nothing like having a group of people to blame is there, foreigners, Fowlers, they all begin with F so it must be all their fault. Fault there's another F, I can see the connection now. I assume you're planning handsome ex gratias for them or are you going to wing it at the employment tribunals when they sue for unfair dismissal (Honestly, take my word for it, having the surname Fowler isn't a valid reason accepted by the courts or employment legislation).

So you'll be funding this how? A placing? Brilliant that'll be a sure vote winner at the AGM.

Who have you got lined up then to take over in the event your AGM coup is successful?

I assume you're not going to make the same mistake of Farage et al in pushing for change but without a plan (or even the faintest clue) of what to do if you accidentally win the vote? Or will you just do a Cameron and leave it to someone else to sort the ensuing mess out afterwards?

I am of course naturally presuming you have fully thought through the consequences of winning a no confidence motion? Let's face it, even if you don't frame it as such, that's what it'll be in effect, even though you do seem to acknowledge "it is quite clear,.. that these are not straight forward to land,... and the timescale, scope and deliverability of these contracts is largely out of the hands of the BoD". But someone has to be blamed regardless don't they! Never let the fact that it is out of their hands get in the way of a good old scapegoating!

Less than three months to the AGM, I guess notice periods are going to be a little bit tricky for anyone of any quality currently employed elsewhere. Particularly when replacing a whole BoD. But maybe you have that already in hand with offers made and acceptances received? Or are you just looking to get a few immediately available 'temp to perms' in to steady the ship (no pun intended) from the local recruitment agency the following morning?

"what were they going to do - when the teminal wouldn’t be ready for another three years. Why the urgency?"

You really must be desperate Joe to come with rubbish like this.

TBH I cannot see PF and TB flying all the way out to Africa to finalise a contract and then when they get there saying to the client, oh okay when the client says we’ve decided not to sign just yet, but can you please sign here for us and leave it with us. . For a start, any contract would need a start date, would they leave that blank for the client to fill any date they wanted to? Or leave them to make any alterations to the contract document that they pleased before counter-signing? If I was a betting man I’d say there is probably a fully signed contract but one that requires some sort of letter exchange for it to be effective. Eg when a firm opening date for a new terminal or airport is known.

Great post Etin - thanks

We haven't yet. As you say the contract on hold, so of course we won't invest in a training centre ( and the upgrade of kit) until it is going ahead.
You are also right that it wouldn't be logical to do so unless there is sufficient revenue. But how do you know that there isn't a minimum revenue clause or that they haven't renegotiated the fee her head as part of the addendum?

What, just half build the training centre?

Does anyone really believe this a 24m euro a year opportunity now?

Yes I do. :-)

Don't even understand that post Joe. What are you on about?

Hi Eskers Can you drop me an email please Only1gibbo at aol.com

Vander, I can't argue that the Ferry wasn't their finest hour, I think they readily accept that. You say that the same applies to Iran. I disagree. The forecast for the Ferry was exactly that, a forecast using projections of future growth etc. That was on an operation that didn't exist at that time. It may have been reasonable had they successfully launched the service without Ebola occurring, who knows.

That the Ferry was a failure doesn't surprise me, it is often the outcome when a Company moves away from its area of expertise. That said, I understand that it helped persuade the last remaining large airlines from pulling out of SL at the time, so indirectly possibly saved the Company.

Iran is different, the numbers aren't forecast figures, they are based on existing PAX as of 2016. They do not take into account the potential growth in Iran. It also has to be recognised that the Company has implemented changes, with several key additions to the board since then which can only strengthen corporate governance imo.

The record is still stuck, whilst we wait for CBB and Vander to respond.

What’s the matter Joe, don’t you think that CBB and Vander can answer the question themselves? I understand your view, heard it a thousand times like a scratched record that has got stuck (showing my age there). What I want to understand is that if CBB think that the previous MOU announcements are misleading, why he/she wants WSG to continue announcing them when they are signed. I really don’t understand that..

CBB, you are contradicting yourself. You want MOUs announced when signed, but then call them misleading information releases. Surely if you think they are misleading you wouldn’t want them announced? Vander, still waiting for your reply.

I didn't ask you whether you want them to be successful or not. I asked a very simple question, would you prefer that they announced MOUs when signed or not?

Which rules of proper corporate governance have they not followed?