Member Info for Phoenix-

Hi moolacoaster I believe s&g allege that information was deliberately withheld relating to the dilution rates of the professional services division in PWC's report, which were alleged to be at least 5% too low. Looking at quindell's record of colurful distortions of the truth in their own favour, including acting well against the interests of thier own shareholders, I would not be at all surprised if S&g's allegations are correct. Saying this the sale of PSD was very much in the interests of us shareholders because we now know it had, as S&G correctly allege, negative value, and maybe much less to do with quindell lacking the cash flow to keep PSD gping, as most of us assued at the time. After all, it's not cheap to keep a sinking dying white elephant afloat and quindell was not so cash rich at the time. Getting rid of it any which way was the best panacea to the dilemma. I cant blame S&G for taking it to court. Im of the opinion that their allegations are more than probably correct. From a financial perspective I'd like to say I hope they can't prove it, but from a moral perspctive, if quindell/wtg did this, they deserve to fry for it. The latter being the case, I hope us shareholders arent caught in the crossfire.

Let's not forget why the SFO started investigating. They started almost immediately after quindell revised it's 2013 accounts to show a 64 million pre tax loss as opposed to the 107 million profit stated in the originally released accounts. A whopping difference of 171 million. Let's also bear in mind that the 2013 accounts were not revised until a few months after the s&g deal was announced in 2015. Hmmmm, It makes me think. Were s&g deaf, dumb and blind or were they deafened, dumbed and blinded? I'd give them more credit than to assume the were stupid enough to buy something for 637 million that almost instantly proved to be dud. Last I heard of Robert fielding, he was transferred to s&g as part of the deal in 2015 and unsurprisingly stepped down and left in September 2015 (or more likely shown the door), but I guess it didn't matter. His work was done, name tarnished he's probably retired with a gigantic nest egg he accumulated by shamelessly dancing all over thousands of share portfolios of mug investors like me that thought he wasn't allowed to brazenly lie like he did because that is totally unlawful. Based on whats already out there, it's my opinion that Robber Fielding is probably a white collar criminal. Before anyone has kittens, I said "probably", not "is". Just my opinion. Taking the world we live in as a metric, I'd guess he won't be punished at all. He'll blame others, they'll blame others and the merry go round of deceit will revolve untill it breaks. Then they all get off and go home eating candy floss we paid for.

18 months is hardly a long time in legal terms Grumpy, especially considering an untested area of law. IF YLF loses its down to them to pay the costs, not the claiming shareholders, and if YLF win they take a hefty cut of awarded compensation. Why would anyone even make a claim if the upside was just a 40% cut of awarded compensation upon winning or paying all the costs upon losing? Bit of a no brainer. As far as I understand it's no win, no fee. I'm surprised you suggested that the YLF claim will fail because the Financial Conduct Authority took no action. The FCA did take action. They handed it over to the Serious fraud office who are still investigating. Just because the SFO haven't concluded yet doesn't mean there was no wrongdoing. We all saw the smoke(and the mirrors). Logic suggests there was a fire.

I know it's true that they point blank didn't have the cash flow to continue running PSD, but as for the Xmas wages, I thought that may have been an exaduration. Still it wouldn't surprise me if it was true. The company was in the mire.

Lindoser makes lots of silly claims. Apparently I don't hold any shares here according to him, but (sadly) I do. I wish he was right but he isn't. I'm sure I don't need to point it out but be careful he doesn't goad you into an argument because he's the type of person that will wind you up and then report you to admin. He has openly admitted in the past to reporting people and trying to get them banned just for having a contrary opinion to his own. That said, it's nice to see he's discussing the share today.

I have to say I 100% agree with addicknt on tom winnifrith. Tw was barking at the right tree(qpp), as probably the best part of 100% of investors here were barking at him, being oblivious to the actual situation that unfolded after gotham. I put my hands up. I thought TW was a total #### back then, but as the truth unfolded and I realised he was right and I was wrong, and I have zero problem admitting that. Thankfully I wasn't one that took to trip advisor to vindictively troll his pizza place as many did. Though TW perhaps didn't put himself across in the best way, and though he made some silly claims such as qpp having no money to pay their employees, the fundamental message he was making did turn out to be 100% correct. QPP was a steaming pile of $hit of a company and our once dear beloved rob Terry was all of a sudden no longer dear and beloved. Why? Because TW was right. It's human nature to refuse to believe you've made a mistake. Looking above that cultivates wisdom that will enrich anyone's life.

That was before Andrew Gretch realised he was duped. If there's no case, why have WTG written off the escrow money?

The last RNS said: Total loss after tax of £69.1m (2015: profit of £274.9m) including £50.1m impairment of escrow receivable · Group net assets (excluding contingent liabilities) of £68.5m (2015: £137.1m) representing approximately 147 pence per share. Group reported net assets no longer includes the escrow receivable following impairment. ------------------------------------------------------ This means 3 things to me: 1. WTG have already written down the escrow money as a loss. 2. (because) SGH more than probably have a better case than many here imagine. 3. (and) We're not getting the reminder of the capital return. We get skanked (again).

I know what you mean grumpy. Who wants a job that pays over a million a year? Its no surprise there wasnt a long line of candidates applying with that pittance of a salary and bonus scheme, and don't get me started on the directors incentive package. Indro fairly and squarely presided over a massive drop in the share price and now plans to break the company up. Of course he deserves a huge bonus and more. I'm starting a petition to get Indro paid the full directors incentive for his outstanding performance. What was it 5%? I think we should double that. Lets give him 10% because hes done such a good job, and he fully deserves his share of the (profits). Can I count on you to sign it?

Well I must have missed that huge nugget of dung in the last RNS. Thanks so much for pointing that out, not that it makes any fundamental difference. So nothing new, except the outlook is more miserable than ever. You can mock Bondy, but like it or not he wasn't wrong, but never mind. He's not here to defend himself so carry on right?

Quote RNS: Total loss after tax of £69.1m (2015: profit of £274.9m) including £50.1m impairment of escrow receivable · Group net assets (excluding contingent liabilities) of £68.5m (2015: £137.1m) representing approximately 147 pence per share. Group reported net assets no longer includes the escrow receivable following impairment. ---------------------------------------------------------------------------------------------------------------------- There goes the eccrow money. The dictionary tells me an impairment is "an occurrence of a change for the worst", so I presume that's settled. No £1 payout, nor 50p, not even 1p. I guess S&G presented a good case (and WTG must have acted sufficiently dishonest enough to have no defence). That combined with the cash burn, and the plan to flog off what's left, I no longer have any reason to hold this share, but I may as well, miracles can happen, and I've lost so much already, it really doesn't matter. RIP WTG, and my hard earned monies.

We may as well watch a stone Roc.

Charade or parade no matter Lindoser. This is why I don't come on here for months.

That was a female dog of a post Lindoser. Personally I find it amazing how some shareholders talk talk talk for months as nada happens and then have nothing to say when the most important RNS in the company's history is issued. Surely you must have something to say about what is essentially WTG's death warrant? How do you feel about it? I'm just asking because this is the WTG forum. Please only reply if you're discussing the share. Baseball bat grumpy? Have you got any balls to go with it? I'm just asking because this is the internet.

The horns of jericho was a cultural reference to the battle of jericho grumpy. Apparently they were so loud they caused the walls of the city to fall. Whilst I appreciate the positive sentiment of the reasons for your investing more and more here to average down, I must say, what good will returning to profit in 2018 be if WTG is being broken up and sold off just as you start to realise your gains. It would throw things up in the air a little bit too much for my liking. Maybe this share has just made me a little too risk averse to ever contemplate investing again, but all the same I wish all the luck I can to you with your punt here.

Hi Grumpy long time no debating:) I hope you are well. I see your point about the S&G debacle but if this did go to court it would ultimatley depend on a judge, along with not only WTG's defence, but also S&G's ascertations of wrongdoing, which we don't know the particulars of yet. If it goes forward I'm sure we'll all find out. Perhaps I am wrong on the SFO finding irregularities, it's just my opinion, but common sense dictates to me that *something* was clearly wrong with the way the ex board went about their business. which has penultimatlely resulted in the now terminally ill business unravelled today as being on death row. To go from a 2 billion market cap to next to nothing in such a short space of time screams irregularity to me. I recognise you as an intelligent man grumpy and despite knowing you're pro all things WTG, surely you can't tell me that what has happened here hasn't rung alarm bells to you. They were louder than the horns of Jericho to many here.

Hi Swans I have no idea what will happen with S&G, YLF or the serious fraud office investigation sorry, The RNS stated the SFO investigation could continue for an indefinite period of time, and it's been going for quite some time already. It can't be a cheap process to forensically pull a company apart so I'd guess there must have found some irregularities in order to justify continting the investigation for so long. The S&G descision completely belongs to a judge now, and despite the RNS implying the YLF claim has no legs, it's still ongoing so only time will tell. One thing I do know for sure is that if any of the litigation against WTG proves fruitful, or if the SFO concludes and decides to fine WTG, it will be yet another hit for us already battered shareholders.

The universe will deal with these people Dar. I wish no ill will against them. All they'll get from me is pity.

Toastal you're not stupid and should in no way be ashamed. You made the best decisions you could in light of what information was presented to the shareholders here. Its only the men who exadurated the prospects of QPP almost beyond belief that should be ashamed, but sadly in the world we live in they're laughing all the way to the bank, hence the ongoing SFO investigation and mire of other litigation against this company. It may or may not get somewhere but regardless, you've done nothing wrong so don't be so hard on yourself please.

Hey ragdalian I guess youve noticed the lack of usual abusive optimists caring to comment today too, despite a RNS that's basically a death warrant for WTG. Surely they must have something to say?