Wiggins is a property group turned airport operator.

They currently own land at and or will operate 8 airports(planestations).

These are

Manston in Kent
Lahr in Germany
Parchim in Germany
Cuneo in Italy
Odense in Denmark
Smyrna in the US
Pilsen in the Czech Republic
Ajman airport

The main initial focus is on cargo operation manston is currently the 7th biggest airport in terms of cargo weight in England. cuneo is the only Airport that currently has scheduled services from 3 febuary there will be 3 flights a day to Rome and 1 flight a day to Strasbourg in the summer there will be charter flights.

As well as the airports Manston still has a valuable non airport related land bank which it plans on selling/developping and using the money generated to invest in the planestations.

Dont tell T10 / W2 about this site

Agreed. The same goes for mickeymost and blackbladder

I am OK lads? :-)

Good morning Jeff, Serko and elric, I thought I'd just show my face on this new thread (afn lightning). Still watching WGG avidly, despite a few pokes in the ribs from Jeff, waiting for it to take off.

Have you noticed that TBI started as a property company?

This BB is remarkably like ADVFN. Not a crticism, just an observation.

sober
Is that good? Dont forget Mike Boydell also started ADVFN. So this is the improved version.

Something that is good is the fact that WGG has not followed the market down today.

Interesting point used against Manston is it's proximity to Cliffe should the proposed airport be developed. The premise is that it Manston and Cliffe are so close that Manston would have to cease operations. I am not aware that the same has been said of Southend which is around 20 kilometres from Cliffe whilst Manston is around 50 kilometres. Can anyone confirm this?

Socrates
Yes, what you are saying is true in a sense, Southend as well as many of the smaller airports / airstrips were said to be affected if the Cliffe option was to go ahead due to air traffic control constraints.

Interesting point reiterated in the Kent on Sunday (freesheet) yesterday was that in the vicinity of the proposed Cliffe airport lies a sunken ship with approx 1600 tonnes of high explosives on board. It is deemed too dangerous to consider moving it, therefore it has been left alone since it ran aground / sank in 1944. (it lies on a sand bank)
Hope this is of interest.

Regards,- Doogie

PROMISES PROMISES, been following this one for 3 years and debt gets bigger promises get put back. This year is last chance.

also smells bad when management refuse to meet up with city investors or journos willing to write a fair story. Several suggestions re tie-ups with low cost airlines promised last Autumn. got some interest in the stock, but yet again the company has so far failed to announce any news. And has anyone actually BEEN to Manston? The reality will hit investors hard.

pollyf,

No rns announcments might have been made, but the first passenger flights are to start from cuneo airport on Monday. 3 times daily rome and once daily to strasbourg. coupled with an extensive summer charter service. Further more at Manston Wiggins has applied for planning permission to build a hangar for Mk airlines. This has been approved(subject to wiggins filing a green travel plan) and should be the first of many building works at Manston. On the adjacent businees park cumming has applied for planning permission to build a test cell. imho expect some announcments soon.

hmmmm....and you don't work for the company?!

pollyf
All of the information provided by serko1 is in the public domain and is available to see, if you know where to find it. I've seen most of it for myself and can verify the accuracy of it.

Been a while since i visited the WGG thread on ADVFN, though I would have a look as I bought some today. Dont the guys on there ever get tired with the drivel that gets posted.

Jeff
Yes they do, but they feel the need to counter the MAG anti-Manston propaganda. To MAG, WGG looks an easy target because it appears vulnerable but I think that they will disappear when WGG is accepted as being more stable.

The new directors will help, but more so will earnings from the continental airports as they start to produce revenue. Even one airport producing good income would make a heck of a difference to WGG's balance sheet. Mind you, a nice contract at Manston would be very welcome.

Where has that serko1 got to, I thought he would have posted the news about Aurigny Air and it's license for charters to Jersey from Manston for the summer season by now. Slipping there serko1!

socrates
whereabouts did you find info on jersey/manston any link

biffa18
No sooner said than done:

http://www.caa.co.uk/docs/213/1579.pdf

cheers Socrates

biffa
Socs knows you know. He is a big wig in the Aerospace industry.

Indeed. He stretches the rubber bands.

:-)

hilary and jeff
You are too kind. Big in the aircraft industry! Overweight yes. And we don't use rubber bands anymore, at least, only to hold the planes together.

He's that big in the aircraft industry, that they make him sit in the middle of the plane.

8 ball
At the centre of gravity actually, not necessarily the middle!

Can't see much upside until they get their act together and get some planning consents for houses and factories.

Oh go on then, I'll have some wiggins shares too.
Rude not to really! :-)

CLIFFE v. MANSTON - YOUR VIEWS (SHOULD) COUNT

In the letters section of the Isle of Thanet Gazette (April 12th) Dr. Ladyman, the MP for South Thanet, made the following statement :

"Nowhere in the developers' strategic plan, nor in Kent's draft structure plans, is the possibility of Manston being London's fourth airport raised, nor are any of the estimates even remotely in line with those expected at one of London's major airports. The idea of planes taking off at Manston every few minutes throughout the day and night is entirely a fiction dreamed up by people like Mr. Binding who want to see the airport closed down."

Two weeks ago, national newspapers leaked news of the government's intention to list Cliffe, on the Isle of Grain as a possible site for a new London airport. Kent County Council reacted with immediate outrage. The leader of Kent County Council issued a statement condemning the Cliffe proposal and stated that KCC wished to expand Manston instead.

It seems clear that the concept of Manston becoming the next London airport, far from being, "a fiction dreamed up by people like Mr. Binding," is a very real possibility and is being actively promoted by KCC. Dr. Ladyman's assurances are clearly not worth the paper they are printed on.

KCC's leader, Mr. Bruce Lockhart, gives his reasons for opposing Cliffe as the environmental damage that would be caused. For this reason, even before the Cliffe proposal is officially announced, he and his colleagues at KCC have commissioned (at the taxpayers' expense) a report into the likely environmental impact. . In stark contrast they have seen no need to commission an environmental impact assessment into the consequences of expanding Manston. Their off-the-cuff assertion that Manston should be used instead, seems at best to reflect a rather nae belief that no environmental problems exist at Manston. At worst, the call to use Manston indicates that they are prepared to ride roughshod over the basic human rights of local people. Three years after Wiggins took operational control of Manston, local residents remain utterly ignorant of the likely environmental consequences of expansion.

Unlike Cliffe, the flight path into Manston does not cross a colony of grey herons, or a feeding ground for wading birds. It crosses the town of Ramsgate where 40,000 people suffer intolerable noise levels from aircraft using the airfield. It seems that these people count for nothing in the eyes of Mr. Bruce-Lockhart and his chums at County Hall. Presumably, far more votes are to be gained by courting favour with the green-welly brigade of Middle-England, who have recently discovered the environment, and now wish to purchase it. Perhaps the most important question is exactly when Mr. Bruce-Lockhart thinks he asked the people of Thanet whether they wanted London's fourth airport on their doorstep.

"Presumably, far more votes are to be gained by courting favour with the green-welly brigade of Middle-England" The quote clearly indicates that Manston has support. Further, it confirms my belief that both the Conservatives and Labour would gain support if they supported further developements at Manston.

http://www.m-a-g.fsnet.co.uk/press-r/cliffe_v_manston.htm


Summary/Highlights:

Dr Steve Ladyman, MP.

The Section 106 agreement won the support of Thanet Council at last weeks Policy Committee. It was supported by both the ruling Labour Group and the Concervative opposition.

"Reading my mailbag it is clear that opposition to the Section 106 is largely based on the misleading advice of the Manston Airport Group. Anyone who reads the old Section 52 agreement and the new Section 106 agreement with an open mind will see that the Section 52 gives no protection whatsoever against night flying or to the environment while the new 106 is a major step forward."

"The support of the Conservative Group is to be welcomed although it is sad they have used the issue for political gain recently. Frankly, that's the sort of hypocritical behaviour that brings politics into disrepute but, at least, they are doing the right thing now."

South Thanet MP, Steve Ladyman, has congratulated the Conservative Group on Thanet Council for backing the Section 106 agreement on Manston Airport.

"Not for the first time, and probably not for the last, MAG have let their prejudice against the airport get the better of them and have issued opinions that are just plain wrong. Now I want people to make their own minds up, so I will be sending a copy of the Section 52 agreement and the key parts of the new Section 106 agreement to everyone who has written to me so that they can see for themselves. I have also put my own detailed views and copies of the two agreements on my web site."

"The Council has to balance the views of the huge majority of Thanet residents who want the airport to have a chance to succeed"



http://www.advfn.com/cmn/fbb/thread.php3?id=2954878

Looks like they are writing off 200000. Cash in though.Desperation?

Wiggins Group the airport owner and property developer announced today that it
has sold The Cadbury House Country Club for 1.7m in cash. The book value of the
assets at 30th September 2002 was 1.9m and the profits are 0.1m per year. The
proceeds will provide working capital.



This is inline with Wiggins Group stated intention of selling its non-core
property assets.

Whats happening this morning. Over 4m traded already and a price rise to boot. Was there some news over the weekend?

There was a long interesting write up by EJ on Sunday .... made a good case for a speculative punt for high risk takers. I have been tracking these for a while and agree with his thinking ....

Not prepared to pay for the Monday morning mark up though ..... should have bought last week when I was alerted :-((


ains

Jeff,

Edmund Jackson wrote a positive post on Wiggins.(Citywire & Sunday Telegraph) Twice in the space of a week. He announced that he has bought for the long term recovery. Citing directoship buys. Most notabley Mackay. He seems confident that the mezzanaine debt will be resolved.

Are Wiggins selling there HQ?

The property is held on a 125 year lease from 29th September 1998 at
a 15% ground rent, the freeholder being the Grosvenor Estate.

Tenure:
The property is leased to the Wiggins Group PLC on a 25 year FRI
lease from 29th September 1998 at a commencing rental of 315,000
per annum subject to 5 yearly upward only rent reviews.

Tenancy:
We are instructed to seek offers in the region of 5.25M (Five Million
Two Hundred and Fifty Thousand Pounds). A purchase at this level
will show a net initial yield of 4.84% and a true equivalent yield of
6.83% taking purchasers costs at 5.75% and at an ERV of 57.50 per
sq ft overall (445,855 per annum).
The property is held by a Jersey registered SPV and on the same figures
assuming acquisition costs at 1.75% the initial yield rises to 5%
and the true equivalent yield is 7.10%.




http://www.godfreyvaughan.co.uk/html/investment/35_berkeley.pdf

Pile of dogs doo da, but then its always been the small punters favourite. Isn't this one tipped by Tom Wiinfrith some while back, another case of eating humble pie.

elrico

Given WGG balance sheet any prospective purchaser is likely to demand a yield of more than 15% reducing the sale price by two thirds

Desperate times

A small update re:Wiggins. Two planning applications have been submitted to Thanet District Council for new facilities on the Manston Business Park. One is for a frozen foods processing plant and the other for a cold foods plant with expansion possibilities into frozen foods.

The latter application from Invicta is quite clear in that it is to cater for foods imported through the airport in addition to local produce. Nineteen new jobs to be created.

The first application, Evron Produce, would create 31 new jobs in a 24Hr operation.

Clearly this would be a significant advance for Wiggins. The new Invicta plant is stated to be able to allow them to expand into imported foods so bringing more freight through the airport as well as providing income from the site rents.

Information sourced from documents posted to the Thanet District Council planning application web pages.

Mr Socs
I heard that they were going to build prefabs at Manston to house the influx of Asylum seekers into the area which is being actively enchouraged by Thanet DC.

Jeffmack
You're half right in that it was proposed to accomodate asylum seekers on the business park, however, read the report on the link below. I was going to say read the facts but since it's published by a Labour Party MP I can't in all honesty say that.

http://www.souththanetlp.freeserve.co.uk/asylum.htm

Are you talking about the Wiggins that has been suspended from market pending possible reverse takeover? Wasn't there some news about a contract with a middle east company? Horse Racing?

Angi
Yes, that's the one.

Socrates
Any news about it's return to the market?

Angi
No, nothing yet. It has been said that it would be by the end of September but I've seen no official statement to that effect.

Socrates

I've just seen the chart on 'digitallook', there's a straight line down to 0 and the volume today was 1,480,974. I can't get confirmation on any of the other webs I use (hemscott is out of use, temporarily I hope) nor does anything seem to have changed on my online dealing account with Schwab. The only piece of news dated today was with 3i, an article about Ryannair and Europe. Can't get into that either, forgotten my username/password.

Have you heard anything?

angi
No, there is no news as yet. A poster on advfn has been in touch with Wiggins and they have said they cannot make any statement whilst negotiations are in progress. They do not say with whom the negotiations are, nor do they give any forecast for completion. There is nothing to do but wait and watch.

There has been speculation, sparked by a baseless speculation by Edmond Jackson on Citywire, that the negotiations have failed. If the talks have failed he will be able to say what a clever boy he is, if they have not he will look a right idiot and will be sure to get some stick from Wiggins investors.

Thanks Socrates

A lttle information for those interested in Wiggins. Not content with pushing on with negotiating a reverse takeover, Wiggins have continued to pursue their Planestation concept by adding Melbourne (Florida USA) to their list. See link below which gives details of the airport operation:

http://www.azworldairports.com/airports/p2740mlb.htm

See also RNS which broke the news:


RNS Number:9093P
Wiggins Group Plc
18 September 2003



PRESS RELEASE

18 September 2003

Wiggins Group Plc
General Update

Wiggins Group plc is pleased to announce that it expects to be in a position to
post a Circular to Shareholders together with its 2003 Accounts during October,
at which time the suspension of trading in its ordinary shares will be lifted.

The Company is also pleased to announce we have executed contracts with the City
of Melbourne Airport Authority in Florida. Melbourne International Airport is a
commercial service airport located near Orlando, Florida. The Melbourne Airport
Authority has agreed to build a new International terminal at their expense and
have granted Wiggins operating licences for 35 years. The terminal will have
significant amount of concession space and the revenue from which will be shared
with the Airport Authority.

Melbourne selected PlaneStation because of its established airport network in
Europe and in particular because of the potential for new traffic between
Melbourne and PlaneStation's airports at London Manston in the UK and
BlackForest Lahr in Germany.

Melbourne Airport is within easy access to the major Orlando resorts, including
Disney World and Universal, Cape Canaveral/Kennedy Space Center and Port
Canaveral which is becoming the largest cruise port in the world. The airport
also serves the world famous beach resorts of Cocoa Beach and Vero Beach.

The Company has already commenced working with the Authority in Florida to
generate passenger traffic in both directions. There is also considerable
potential for cargo as nearby airports such as Miami and Atlanta are already
working to full capacity.

Within the agreement Wiggins has an option to lease surrounding land which will
be used for retail related property development.

Wiggins intends to replicate this form of agreement in other parts of the USA.


Further Enquires:

Isabel Crossley St Brides Media 020 7242 44 77



This information is provided by RNS
The company news service from the London Stock Exchange
END

Just joined the site - from Spain-today and this is my first time on the
noticeboard.I had just got the above-18 Sept-from www.londonstockexchange.com.
I think it is exceptionally good news and I feel the company will rise to-
excuse the pun-unforeseen heights.This is especially so if these deals will
be replicated in other areas in U.S.A.Also,I feel the----retail related
property development presents an outstanding opportunity to use their
property skills.

I also think Edmond Jacksons position-re failed talks-is irrelevant as it
appears that The Bottom Line is they have worked out financial facilities
to support all their programmes.

Hopefully,some of you will comment on above as I am extremely interested
in reading more.

A couple of articles from todays newspapers

Wiggins, the troubled airports and property group, is expected to announce this week that it has refinanced the business with a 47m placing of shares and convertible debt.The funding will value the company at around 70m and will be used to replace some of Wiggins' existing debt, which stood at 77m at the end of 2002. It will also provide working capital for the next two years.

The group is also expected to announce next week that trading in its shares will shortly resume - four months after they were suspended.

Wiggins' management has also had discussions about selling the company to Terra Firma, the private equity group run by Guy Hands, the high-profile financier. Several of Wiggins' airfield's are former Ministry of Defence sites and are close to housing acquired by Terra Firma in a sell-off of MOD property.

The deal is believed to have foundered because of Terra Firma's concerns about potential environmental liabilities arising from the military use in the past of the airfields.

LNC Property, the Scottish real estate group owned by Dublin-based tycoon Brian McCabe, has also held discussions with Wiggins about a reverse takeover of the airports group. The talks are thought to be ongoing.

Wiggins' management believes that the company has assets that are potentially worth hundreds of millions of pounds.

The group has seven airports, including Manston in Kent, and extensive land holdings that include the proposed City Racecourse development at Fairlop in Essex.

However, analysts have argued that Wiggins' "Plane Station" strategy of developing a low-cost network of airports for freight throughout Europe remains unproven. Shares in the company declined in value until they were suspended at 4.75p in July.

The Sunday Times article
Auditors censured over Wiggins profits
Lucinda Kemeny

THE AUDITORS of an airports and property company that overstated its profits by more than 40m have been rapped by the professions disciplinary body.
The accusations focus on audits of Wiggins from 1996 to 2000 and come from the Accountants Joint Disciplinary Scheme, the body responsible for disciplining members of the accountancy profession.

The complaints criticise Lance Blackstone, a former non-executive director of Wiggins; HLB Kidsons, the companys former auditor; and Nicholas Watson and Glenn Start, who were partners of Kidsons. The auditing firm is now part of Baker Tilly.

They have all been accused of being involved in over-stating the profits, though in the earlier years, only Kidsons and Blackstone are charged.

Additionally, Kidsons, Watson and Blackstone are accused of wrongly handing over shares worth 5m to a company owned by Wigginss chief executive Oliver Iny.

The allegations threaten to wreck Wigginss attempted merger with the larger LNC, the Scottish property group.

Chris Dickson, JDS executive counsel, refused to comment on the case itself.

However, he said: Im sorry to say that the company declined to co-operate. It was asked on several occasions for a copy of a document and refused to produce it. There is no legal power to compel the company but it does mean that the regulator has had to work with one hand tied behind its back.

Four complaints have been laid in all. Two relate to inappropriate accounting in the annual reports: the first covering the anticipation of profit for each of the five years ending March 31, 2000; the second relating to the capitalisation of start-up and development costs.

The Financial Reporting Review Panel, which reviews whether accounts comply with accounting standards, made Wiggins re-state its accounts for this period, with the effect of turning profits into losses for each of the five years (see table).

The auditors have also been accused of miscalculating a 1999 deal between Wiggins and Inys company Castlegold. In 1994, Wiggins agreed to buy Castlegolds Fairfield site, 174 acres in Bedfordshire, for 1.2m worth of Wiggins shares.

The deal was to take account of any share issues made since August 1993 to reflect any dilution in share value. However, Kidsons included shares which had been sold, with the result that Castlegold got 25.3m shares too many worth more than 5m at the time.

jeffmack,

Thanks for article as I hold 250,000 shares so am naturally very concerned as to
what is happening.

Analysts analysis of Planestation is totally incorrect as there is no mention
of the Contract between Melbourne,Florida and Manston,Kent re Disneyland....etc
and the potential for this type of contract to be replicated throughout U.S.A.
rgds ajren

My understanding is that the re-financing is definately complete, I've just bought some shares today through the placing and that the company may re-list as planestation!, my broker looking for a return before xmas to the market or shortly after with good level of interest in the refinanced company.

What is happeneing here can we expect more delays?

Perhaps they are waiting to get - hopefully - planning permission for
Londoncityracecourse.What are the latest facts on this ?

Nov 13 :-
Stock Exchange Announcement
..........in the process of raising additional Capital and expects to issue
Listing Particulars to shareholders in the near future.Near future ?

Wiggins prepares to land 47,000,000 refinancing deal

arjen
Especially for you. This is CAA information that identifies the requirements for an airport to accomodate A380 Airbuses.

http://www.caa.co.uk/docs/33/NTL200302.pdf

And this is information on Airbus, including the A380. In particular note the freight version of the A380 and it's 150 tonne payload. Ideal for Manston, don't you think?http://www.airbus.com/product/a380_backgrounder.asp

Socrates:-Thanks for taking the time - at such a late hour -
to give me the info.This is one of the reasons I am on the site i.e.most of
the people are very helpful.rgds aj

People must think I am a workaholic.However,I am far from it.3/4 hours sleep
does me and I work from home so I have a lot of time.

Airbus/Freight/Manston :- I agree

Wiggins:-

A : Florida
B : North America

www.portcanaveral.org/about/airport.htm-Click Melbourne-their deal-International

Airbus ideal as apart from Manston/Florida - Disneyland,Cocoa Beach,Cape
Canaveral,Port Canaveral : Boating playground for the super rich-----Cargo
will be a rapidly expanding part of their business there AND throughout North
America.Also,they plan on replicating Florida operation in other parts of
North America i.e.planestation.Also,the network will enable them bring
passengers from most places in America to Disneyland without the huge delays
at Orlando International i.e.main airport for Florida.

City/Analysts have NO idea as to the North American operation potential to
earn Billions of dollars.
rgds aj

i very much hope that this company will make a great inpack to the area of thanet has i hold a large amount of stock in wiggins over 3 years worth.i also live in the area, wiggins group plc i beleive will be succssfull????????????

What stage is the planning permission for-london city racecourse? If approved :-
London - a per centage of 12 M - market and all weather American Racetrack with night races i.e.afternoon races for New Yorkers on some Saturdays/Sundays :2 p.m race in New York will be 7 p.m.London rgds aj

relist before xmas i'm told

Florida flights : ref Wiggins site rgds aj

arjen
There are quite a few sites for Wiggins but this London Manston Airport one is probably the best.

http://www.london-manston.com/info.html

Thanks.aj

Apparently will re-list afetr 15-12-03, also understand somebody is interested in buying the company, when it comes back to market expect a lot of volatility, if it hits 10p been told to get out, which was possibly means the offer for the company may be slightly less than this?

i bought in at 14.5 a few years ago , so what will happen to my shares if the company is bought out? Also WGG is worth more than 10 a share!

My instinct is to HYPE this company so I have to be careful lest I be guilty
of what I am complaining about i.e.HYPE.Therefore,I will say I do not think
there is any reason for Holders to feel Negative.rgds aj

I live near to the airport and i think despite the MAG who are all against the development i think that it will "take off just nicely" all the infrustructure is there and there is the opportunity for a rail link if the local KCC and the gov can get the acts together. Come on London Manston!!!!!!!!!!!!:)

Great news.Manston - Florida : Disneyland,etc could be an outsdanding
revenue earner.Also,Americans to Manston will be a cash generating
machine for your area.Do you agree ?
Do you know the latest planning position on their Londoncityracecourse ?
rgds aj

Aj

Yes i do agree that if the Yanks invade it should bring millions in to the area over a period of time which isnt the wealthest area in the uk. Also with airport growing it will also bring new jobs.
With regard to an earlier statement about the take over of wiggins i do hear various rumours but one was for wiggins to join another company and not be taken over!!! Surely this shouldnt affect the shares to much long term?

As for the race course i will have to dig some articles out at home which wiggins send through to all share holders, If they hav'nt been filed!!:)

Regards G12

So the yanks arrive and take a taxi to Ramsgate / Margate to get the feel of an English Seaside town in the fifties. They meet the locals that all talk with a funny accent as they are all asylum seekers from eastern Europe.

The only food available is chips and if they are lucky to be there in the evening they can watch the local wrestling featuring bar stools, pool cues and the occaisional broken bottle.

I'm sure it will have them returning in droves.

G12
Obviously I do not expect you to do my work but I would appreciate it if
you have time to scan the documents for 5/10 mins and give me/holders a 4 line summary.I did not get the documents as I live in Spain and they
-despite my request - did not e.mail me.I have 250,000 shares so am understandably concerned/interested.

I can find nothing Negative about Wiggins so I would feel their position
would not be worse if they take over/are taken over/join another company

The racecourse might be a huge money generator because they can fly Disney
people over and punters back for an all in package including hire car-if wanted
-hotels beside airport/or in London with a special fast bus connection to the
airport.The all in fare from Florida could be exceptionally cheap as the
hotels/hire car/local interests will effectively subsidise the flights : by
paying Wiggins a percentage.In fact Ryanair believe that they might reach
ZERO air fares because they fly to little known ones so the local community
will be delighted to pay the airfares so as to bring more money in.
rgds aj

Hi jeffmack.I agree with you about the present state.However,the Americans
will go to London.When the locals realise the potential they will evolve to
offering them what they want so as to give them a reason to spend money
locally and go to London and the racecourse-if there.rgds aj

Ajren

I have looked through my trash can ! unfortunately i have ditched them.
I tend to get info fairly regulaly so if i recieve before any news is released i will scan and send. If you like i will email and see what the outcome is!

Regards G12

Spooky!!!

Ajren this was on Wgg website today. Good news :)

City Racecourse plans back on track on reduced scale
Racing Post

London City, which appeared to have disappeared off the map as a potential new racecourse to the east of the capital after failing to gain planning permission, is back on track – on a reduced scale but with the same lofty ambition to attract world-class, all-weather racing to the outskirts of Barkingside.

Geoff Lansbury, property director for the Wiggins Group, which first raised the prospect of building an international venue five years ago, revealed yesterday that a new scheme would go forward for initial planning approval early next year.

He said: “If all goes well, we would be looking to start construction in the spring of 2005, and operate as a racecourse from the autumn of 2006 at the latest.”

The original 100 million scheme, which is centered on the Fairlop Waters site, where there are facilities for sailing and golf, drew strong and vocal opposition from local residents in the borough of Redbridge.

It was eventually turned down on referral to the office of the Deputy Prime Minister, John Prescott.

Wiggins gave notice of appeal, but that has now been withdrawn, Lansbury said, in order to concentrate on a new plan and a different approach.
He explained: “Circumstances have changed, and we are now able to work with the local authority. We met some of their officials this week, and have also presented the scheme to Ken Livingstone, the mayor of London, and the Greater London Authority. The situation is looking positive.”

Given the strength of local feeling last time, Wiggins went back to the architects Foster & Partners to redesign the facility, and the result is a grandstand reduced to 40 percent of its original capacity, from 20,000 to 8,500.

The stand, whose curved roof has been replaced by a smaller, wing-like design, is more than seven metres lower than its previous high point, and has been reduced from 700 metres to 410 metres long.

Designer Jason Parker said: “The new building blends in perfectly with the country park surroundings, and is not so obtrusive, but the rest of the scheme retains the features we introduced to provide a piece of theatre for spectators.”

The proposed racing facilities remain the same ten-furlong, left-handed, all-weather, floodlit track, catering for all distances up to a mile and a half, a sunken parade ring in front of the four-storey stands, and one-price admission.

Lansbury confirmed that Wiggins, which expects to operate a joint venture with a racing and betting/media partner, was still planning to provide the finance for prize-money without calling on racing’s central funds.

The plan includes providing 60,000 prize-money at a regular fixture, 250,000 for a festival meeting, and at least 500,000 for an annual premier card.

However, the original intention to race on 31 Thursday evenings a year has been extended to include the possibility of weekend and Bank Holiday fixtures for a year-round operation.

Lansbury said: “The climate has changed since we first gained BHB approval in 2000, and it will probably continue to change when the OFT inquiry has finished.”

Since London City originally got the green light, the BHB has given the go-ahead for a new course that is being built at Great Leighs in Essex, within 30 miles of Fairlop Waters.

Lansbury said he did not consider the Wiggins’ project was in competition, adding: “We have six million people within a 25-mile radius, and this will be London’s racecourse.

Great Leighs is a different type of venture in a different market.”

WIGGIN shares to be re listed next week, don't know which day

I thought I'd already said that a few weeks ago, "re-list before xmas, on or after the 15-12-03". Somebody is interested in buying Wiggins lock-sock
-and-barrell.

Will be a very good "play/buy" once it re-lists.

Many thanks for all the info.rgds aj

Wiggins Manston Airport continues to grow it's freight business. The CAA figures for September are as follows:

2002 2475 tonnes.
2003 4395 tonnes.

That indicates a 78% increase.

If Wgg keeps on the straight and narrow this time i think the shares will go through the roof.Massive potential!

G12 :)

Hi G12
I agree,
rgds aj

Sounds like the ADVFN thread....

Golfclub12 aka Thomas10

here we go, here we go, here we go ....its wake up to Wiggins Day ! :)

Yes, here we go again ! after all the hype and waiting, it's opened up down already ?! What's going on ? .... lets hope it's starts climbing soon...

anyone know where this company's headed? Is the debt restructuring a positive sign?

Yes, debt restructuring should be good sign and in the medium the share price will climb, once everything is approved etc., Have faith,,, it'll turn out good but don't expect too much too soon.!

Great company ,great prospects ,lets hope the face fits!!

G12

Shares lower due to pre-budget statement later today- not my words.
Up from low of 4.00 to 4.12.
rgds aj

Hi Holders/Readers/Posters,

Please note I hold shares in Wiggins.However,I try to be objective.
........
Director Christopher Morris bought 11,600,000 @ 2.5p = 1.18 per cent

His total holding is 14,746,982 = 1.41 per cent
rgds aj

FYI

Regards G12


10 December 2003

SCHEDULE 11

NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED
PERSONS


1) NAME OF COMPANY

WIGGINS GROUP PLC

2) NAME OF DIRECTOR

CHRISTOPHER KENNETH FOSTER

3) Please state whether notification indicates that it is in respect of
holding of the shareholder named in 2 above or in respect of a
non-beneficial interest or in the case of an individual holder
if it is a holding of that person's spouse or children under the
age of 18 or in respect of an non-beneficial interest



4) Name of the registered holder(s) and, if more than one holder, the
number of shares held by each of them. (If notified)



5) Please state whether notification relates to a person(s) connected
with the Director named in 2 above and identify the connected person(s)



6) Please state the nature of the transaction. For PEP transactions
please indicate whether general/single co PEP and if discretionary/non
discretionary

EXERCISE OF OPTIONS

7) Number of shares/amount of
stock acquired

11,600,000

8) Percentage of issued Class

1.11%

9) Number of shares/amount
of stock disposed

-


10) Percentage of issued Class

-

11) Class of security

1P ORDINARY

12) Price per share

2.5P

13) Date of transaction

10/12/03

14) Date company informed

10/12/03

15) Total holding following this notification

14,746,982

16) Total percentage holding of issued class following this notification

1.41%

IF A DIRECTOR HAS BEEN GRANTED OPTIONS BY THE COMPANY PLEASE
COMPLETE THE FOLLOWING BOXES

17) Date of grant



18) Period during which or date on which exercisable



19) Total amount paid (if any) for grant of the option



20) Description of shares or debentures involved: class, number.



21) Exercise price (if fixed at time of grant) or indication that price
is to be fixed at time of exercise



22) Total number of shares or debentures over which options held
following this notification



23) Any additional information



24) Name of contact and telephone number for queries



25) Name and signature of authorised company official responsible for
making this notification
L INWOOD
Date of Notification 10/12/2003







This information is provided by RNS
The company news service from the London Stock Exchange UGUUPUPWGWU

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Printer friendly version Mail this article More announcements

Wiggins Group Plc
10 December 2003


The following replaces the Placing & Open Offer announcement released 10
December 2003 at 07.01 am under RNS number 0728T

Please be advised that the paragraph headed The Liverpool Property in the
Background to Wiggins Group section of the announcement should have read as
follows:

(iii) The Liverpool Property

The site is leasehold with an unexpired term of 84 years and comprises
approximately 86 acres that was formerly the site of the International Garden
Festival in Liverpool. The site is a prime development site on the banks of the
Mersey. Liverpool council has produced a 'Brief for Development' for the site,
to redevelop it from leisure use to include residential use, with ancillary
uses, including retail. It is expected that a revised planning application would
be submitted early next year. In order to develop the site for residential use,
it will be necessary to vary the terms of the existing lease which at present
refers to use for leisure purposes. The landlord is the local council that
produced the Brief for Development mentioned above.

All other details remain unchanged, and the full amended text appears below





Press Release

Wiggins Group plc


Introduction

On 5 December 2002, the Board announced within the Company's unaudited interim
results for the six months ended 30 September 2002, that the Directors were
progressing the additional steps needed to achieve their financial objectives.
The Company now has the prospect of obtaining long-term funding to enable the
Company to repay the Mezzanine Debt, which was due for redemption on 14 March
2003, to strengthen the Company's balance sheet and to provide funding for the
Company's working capital requirements.

On 17 July 2003, the Board requested a suspension of trading in the Company's
Ordinary Shares on the Official List pending the outcome of discussions which
may have led to a reverse takeover. These discussions have ceased, as a result
of the announcement made today.

The Board has also announced today that the Company proposes to raise a total of
46.35 million, net of expenses, by way of a Placing and Open Offer of Offer
Shares and a Placing of Loan Stock. Neither the Placing nor Open Offer are
underwritten. Qualifying Shareholders are invited to apply for Offer Shares on
the basis of one Offer Share for every six existing Ordinary Shares held at the
Record Date. 1,073,750,000 Offer Shares have been conditionally placed with
institutional and other investors to raise 42.95 million, of which 172,106,750
Offer Shares are subject to recall to satisfy valid applications under the Open
Offer. A further 6,550,000 is being raised via a firm placing of the Loan Stock
with institutional and other investors. In addition, Shareholders on the
register of members immediately after the Admission of Offer Shares and Loan
Stock will be issued with Warrants on the basis of one Warrant for every five
existing Ordinary Shares then held.

Implementation of the Placing and Open Offer will transform the Company's
current position and prospects by achieving:

• the immediate repayment of the Mezzanine Debt of approximately 16.1
million and the reduction of other indebtedness by 17.65 million;

• the provision of 12.55 million additional working capital for the
Group; and

• the restructuring of the Company's balance sheet.


The suspension of trading in the Company's Ordinary Shares on the Official List
was lifted today following the announcement of the results for the year ended 31
March 2003. The Company's annual report and accounts for the year ended 31 March
2003 and the notice of the Annual General Meeting of the Company have been
posted with this document.

Shareholders should be in no doubt as to the importance of the Placing and Open
Offer to the future of the Group. The Directors believe that the Placing and
Open Offer provide the only viable option to restore the Company to a secure
financial position, and the Directors therefore strongly urge Shareholders to
vote in favour of the Resolutions at the EGM. If the Placing and Open Offer are
not approved at the EGM, your Directors will have no alternative but to apply
immediately for administration or to commence an insolvent liquidation of the
Company. Existing secured creditors of the Group would then be expected to
appoint receivers in respect of those properties that are subject to their
security.

Background to the Wiggins Group

The Company was incorporated in 1945 as a traditional housebuilder and listed in
London in 1964. Today, Wiggins Group is primarily interested in airport
operations, in national and international locations, but with considerable
interest in property developments as well as being involved in the operation and
management of leisure facilities at Fairlop Waters.

As a result of the shift in focus of the Group, the Company applied to FTSE
International to reclassify its shares from the 'Building and Construction
Materials' sector to the 'Transport' sector (sub-sector Airlines and Airports),
which took place on 22 September 2003. The Board has also resolved, subject to
shareholder approval at the Annual General Meeting, to change the name of the
Company to 'PlaneStation Group plc' to reflect this change.

The Company's preference in developing its network of airports has been to
acquire the entire interest at an airport. Nonetheless where opportunities
present themselves the Company could either take a minority shareholding or an
operating concession, such as that at Melbourne Airport, Florida.

The Directors believe property development at the airports within the
PlaneStation network to be strategically important. Accordingly the Group
focuses on airports which either have landside areas available as development
land or alternatively adjacent land which may be acquired for development. The
Group also focuses on sites where development funding is expected to be
available from outside sources, in particular grants from Government, the
European Union or other public sector bodies.

In August 1999, the Company completed its acquisition of London Manston Airport,
since which time it has expanded its portfolio of interests in airports
considerably to include airport services. These airport operations are to be
included within the PlaneStation brand.

In 2001, the Group acquired the two strategically placed airports in Germany at
Schwerin-Parchim (now Baltic Airport Schwerin-Parchim) and at Lahr, in the Black
Forest. It has also secured interests in the smaller regional airports of
Odense, Denmark in April 2000, and Cuneo in Northern Italy in February 2001.
LineAE airport in Pilsen, Czech Republic was acquired in August 2000.

Most recently the Group has entered into an agreement to develop international
air traffic at Melbourne airport in Florida.

To finance the initial projected cash outflows from airport operations and
acquisitions the Company increased its net borrowings primarily through
borrowing from the Mezzanine Lenders.

The Company had anticipated repaying these borrowings from the completion of
sales at Fairfield Park which were expected after planning consent had been
obtained. However, planning took longer than expected, partly due to complex
negotiations on the S106 Agreement. The effect of not being able to dispose of
Fairfield Park in the expected timeframe was effectively to prevent the Company
from repaying the Mezzanine Debt and borrowing from less expensive sources of
finance.

Anticipated growth in traffic at the Company's operational airports was affected
by the repercussions of the events of 11 September 2001 which were keenly felt
in the aviation industry. Re-assessments of forecast growth and cash demands led
the Company to reschedule the Mezzanine Debt and to try to dispose of
non-airport related properties.

The decision to dispose of non-airport related properties was announced in the
annual report for the year ended 31 March 2002. Some sales have been achieved,
notably the sale of the Company's interest in Fairfield Park and Cadbury House.
However, it has not been possible to realise by sale the other non-airport
related properties. This is due to a number of factors, including increased
reluctance on the part of prospective developers to acquire land speculatively,
without the benefit of planning permission.

The Company has already expressed its surprise (Annual Report 2002) at the
Secretary of State's decision to reject its proposals in respect of the
development of Fairlop Waters. It is currently preparing a planning application
for a redesigned scheme at Fairlop Waters. Progress in respect of the
redevelopment of the Liverpool Festival Gardens site has been slower than
expected partly as a result of the need to submit a further revised planning
application. The delay in these two projects also had an adverse effect on the
Group's cashflow and prevented their disposal or funding. In consequence the
repayment of the Mezzanine Debt has had to be deferred.

The approach taken also assumed that in 2003 the Company would see an improved
cash-flow from the airports. The adverse market conditions within the aviation
industry have caused a slower rate of growth in the airport sector, and the
delay in obtaining a passenger licence for Lahr airport means that the
improvement in cashflow has not as yet occurred. Nevertheless the Directors
believe that there are encouraging signs that within the next 12 month trading
period Manston airport will begin to breakeven.

The Directors also took the view that due to the uncertainty in extending the
existing runway the Group should withdraw from Smyrna in the United States,
which was announced in February 2003. This helped to reduce the Group's cost
burden.

On 14 May 2003, at the same time as the Company announced refinancing proposals,
it was also announced that 49,173,359 shares were placed with LNC Investments
Limited at a price of 3p per share to raise approximately 1.48 million (net of
expenses). Part of the proceeds of this placing was used to pay the interest,
charges and expenses of the Mezzanine Debt for the period to 31 July 2003.

It was also announced that the Company was in negotiation with LNC Investments
Limited to provide long term funding to the Company in the form of secured
convertible loan stock combined with the acquisition of LNC Property Group
Limited, the owner of a portfolio of investment properties. Today the Company
announces alternative refinancing proposals that will substantially reduce the
Company's debt. Negotiations with LNC Investments Limited have now ceased.

The Business of the Group - Property Development

The Group owns the following properties which are held in the course of its
property development business.

(i) The Burford Property

The property is freehold, comprises approximately 265 acres, and is in Broadwell
Grove, West Oxfordshire. The Company considers that the site is suitable for
residential and ancillary development. Wiggins has recently tendered to the
Defence Housing Executive in response to a requirement for a provision of up to
900 housing units which could be satisfied at the Burford property to
accommodate RAF servicemen stationed at RAF Brize Norton. Were planning
permission for residential housing to be obtained in respect of the site, an
arrangement under which the previous owners are entitled to a payment of forty
per cent. of the increased value of the land resulting from the planning
permission would need to be settled. Should this present proposal not proceed,
it is likely that any grant of planning permission for this site would take
several years.

(ii) The Fairlop Waters Property

This property is leasehold and comprises approximately 345 acres at Fairlop
Waters, Forest Road, Barkingside, Essex, which is presently operated as a
leisure facility.

A planning application was made for change of use of the site to develop a
racecourse, grandstand and ancillary buildings. Following a positive
recommendation at the planning enquiry, the application was rejected by the
Secretary of State who objected to the scale of the grandstand. A detailed
application for a redesigned scheme is being prepared and will be submitted in
early 2004.

(iii) The Liverpool Property

The site is leasehold with an unexpired term of 84 years and comprises
approximately 86 acres that was formerly the site of the International Garden
Festival in Liverpool. The site is a prime development site on the banks of the
Mersey. Liverpool council has produced a 'Brief for Development' for the site,
to redevelop it from leisure use to include residential use, with ancillary
uses, including retail. It is expected that a revised planning application would
be submitted early next year. In order to develop the site for residential use,
it will be necessary to vary the terms of the existing lease which at present
refers to use for leisure purposes. The landlord is the local council that
produced the Brief for Development mentioned above.

(iv) Manston Park

This site is adjacent to London Manston Airport, and will be marketed and
developed in conjunction with the airport. The site is freehold, comprises
approximately 70 acres and has outline planning permission for B1, B2 and B8
uses (i.e. offices, light industrial and warehouses and ancillary uses including
retail).

(v) Lincoln

This site is freehold, comprises approximately 15 acres and is the remnant of
the development at St John's Park, and constitutes the central building and
surrounding development land. The land is zoned for residential and other uses,
although planning permission will be needed for these uses. The Company intends
to dispose of this site and is currently negotiating with prospective
purchasers.

(vi) Redworth

This site is freehold and comprises approximately 125 acres retained by the
Company on the sale of Redworth Hall Hotel in October 1997. The site has
agricultural use but no formal designation in the local plan. The Company
currently intends to dispose of this site.

(vii) Hellaby

This site is freehold and comprises 3 acres retained by the Company on the sale
of Hellaby Hall Hotel in October 1997. It is zoned for B1 use. The Company
currently intends to dispose of this site.

The PlaneStation Network

PlaneStation is a new and innovative concept in airports. It is intended to be a
global network of regional airports. The Directors believe it has enormous
potential and will offer unique benefits to cargo carriers, low cost airlines,
business passengers and tourists, by relieving congestion and opening up more
cost effective airline routes. The Group's current airport interests are:

(i) London Manston Airport, Kent

London Manston Airport predominantly services cargo traffic but also holds a
passenger licence and has existing facilities for passenger transportation. It
comprises approximately 700 acres of freehold land and has a 2,752 metre runway
that is capable of supporting intercontinental passenger flights. Other features
include air traffic control facilities and fire services. A new apron and linked
taxiways were completed last year increasing annual freight apron capacity from
36,000 tonnes to approximately 200,000 tonnes. Cargo tonnage handled for the 12
month periods to 31 March 2001 was 32,220 tonnes; to 31 March 2002 was 36,400
tonnes; and to 31 March 2003 was 33,899 tonnes. In the 6 month period to 30
September 2003, the cargo handled was 22,095 tonnes, an increase of over 37%
above the tonnage handled in the 6 month period to 30 September 2002.

(ii) Black Forest Airport, Lahr, Germany

Black Forest Airport, Lahr predominantly services occasional cargo traffic and
it has applied for a general licence that would permit scheduled passenger
traffic. The airport consists of 515 acres of licenced airport land occupied by
the Group under a licence for an indefinite term that is to be succeeded by a
lease once the airport's NATO status permits. Of an additional 570 acres of
adjacent land which has been zoned for airport related developments, 380 acres
has been offered by the local authorities for sale to the Group. Facilities
include a 3,525 metre runway, 3.5 acres of hangar space, 15 acres of concrete
aprons and taxiways, a traffic control tower, fire station and parking
facilities. The airport sits adjacent to the A5, the major motorway that runs
from Karlsruhe to Basle, and is within 30 minutes driving time of Strasbourg.

(iii) Baltic Airport Schwerin-Parchim, Germany

Baltic Airport Schwerin-Parchim has approximately 1,030 acres of land of which
240 acres is available to be developed as a trading estate. The airport
facilities consist of a 3,000 metre runway (plus full parallel taxiway) and 9.4
acres of apron space. There is unrestricted 24 hour operational consent. At
present the airport services occasional cargo traffic and general aviation. It
has facilities for passenger traffic but does not serve passengers at present.

(iv) Cuneo-Levaldigi Airport, Italy

Cuneo-Levaldigi Airport consists of a 2,496 metre runway on a 400 acre site.
State grants have enabled the development of a passenger terminal, the
installation of improved navigation and landing equipment and the construction
of fire fighting and helicopter rescue facilities. The Group has a 27.7 per cent
interest in the company that owns and operates this airport.

(v) Melbourne Airport, Florida USA

The Company holds an operating licence for the international terminal for an
initial period of ten years with five consecutive five year extensions, subject
to performance thresholds, up to a total of 35 years. There is a right within
three years to take an option to acquire 10 acres of adjacent land, for a lease
period of 40 years, with four consecutive five year extensions, up to a maximum
period of 60 years for retail development.

(vi) Pilsen Airport, Czech Republic

Pilsen Airport has approximately 1,180 acres of leasehold land of which
approximately 400 acres is available for landside development of retail
shopping, industrial, commercial and leisure facilities. The airport currently
has a 2,453 metre runway which the Company expects to extend to over 3,000
metres subject to a successful outcome to discussions that have commenced with
the European Bank for Reconstruction and Development for funding. This airport
is operational for general aviation but at present does not have other cargo or
passenger traffic.

(vii) Odense Airport, Denmark

Odense Airport has a full international licence and at present services
intermittent passenger charter flights, occasional cargo traffic and general
aviation. The runway has recently been extended to 1,845 metres. The Group has
leased 114 hectares of landside property at Odense Airport, including passenger
and freight terminals and other facilities, from the airport company that owns
the airside land at the airport. A dispute has occurred with regard to the terms
of the lease, which may lead to the Company exercising its right to terminate
the lease.

The various airports within the Group's portfolio are at different stages of
operational development. They are all operational as licensed airports but the
extent of aviation activity at the overseas airports is at present limited and
in some cases negligible. In the case of Melbourne Airport in Florida, the Group
intends to develop the international traffic at this airport which already has
an established presence for domestic traffic in the United States.

Typically the development of material volumes of passenger and cargo traffic
depends on the programmes of investment that are proposed to be carried out at
each airport and demand. The concept of the PlaneStation network is to support
the development of the operational capacity at those airports which are
considered by the Directors to have the potential to become active regional
airports handling significant volumes of passenger and cargo traffic.

The Company will finance development of its existing assets through a
combination of interest bearing loans and joint venture arrangements as and when
planning and other permissions are granted, save where they are disposed of.

Current trading and prospects for the Group

In the current financial year the Group has continued to incur operational
losses, but taking into account the additional working capital now being raised,
the Directors believe that the prospects for the Group are good.

The results for the six months to 30 September 2003 are in the process of
preparation and these will be announced later this month. The results will
include the profits resulting from the sale of Fairfield Redevelopments Ltd in
April 2003 comprising 1.35 million on the sale of the investment and
recognition of the 5.3 million profit which was held back on the sale of land
to Fairfield Redevelopments Ltd in August 2002. However even after the
recognition of these profits, the management figures for the first half of 2003/
04 will be severely affected by net interest expense for the period of more than
4 million, due to the high cost of servicing the Mezzanine Debt.

As stated above the Company anticipates that in the financial year to 31 March
2005 Manston airport will begin to breakeven at the operating level. The Company
is also confident that planning permission will be forthcoming on the Liverpool
property and the Fairlop Waters property, although the timing of those
permissions is uncertain, and that non-airport related properties will become
more attractive to prospective developers thereby improving their marketability.

There has however been consistent real growth in cargo throughput at London
Manston, with cargo handled in the six months to 30 September 2003 being over
37% higher than in first half of 2002/03. Moreover this growth has been achieved
without the commissioning of the new border inspection post and enlarged cargo
handling facilities which are due to become operational in the first half of the
next financial year to 31 March 2005. With the opening of the new apron at
London Manston, the prospect of passenger flights is being promoted with strong
interest being shown at our recent local travel agents conference held at London
Manston. Additionally the Group has accepted an offer to dispose of a site of
about 3.5 acres at Manston Park to a specialist food processing company
achieving over 120,000 per acre. This provides a robust platform for the
Company's continued development of its additional industrial land holdings at
Manston.

Furthermore several aircraft operators have expressed interest in the provision
of aircraft maintenance facilities at London Manston, and these proposals are
now being pursued in the light of the Group having recently obtained planning
permission for two new maintenance hangars with capacity for wide bodied jets.

At Black Forest Airport Lahr, the Company has concentrated its efforts on
obtaining a scheduled passenger licence for domestic and long haul services.

Accordingly, the Directors view the future of the Group with confidence.

The Mezzanine Debt

The Mezzanine Debt consists of a series of secured loans advanced by financial
investors the terms for which were restated in August 2002, as a means to meet
the Group's short-term funding needs. The terms of the Mezzanine Debt are such
that, as a result of the Company's requirement to extend the terms beyond 14
March 2003, interest and facility fees accrue at an approximate weighted average
rate of 48 per cent. per annum. These loans, for the reasons stated above,
represent a significant burden on the available cash resources of the Group.

The Company has entered into the Standstill Agreement with the Mezzanine Lenders
so that the Mezzanine Debt, and outstanding interest and charges, are to be
repaid from the proceeds of the Placing and Open Offer on or before 12 January
2004 and the Mezzanine Lenders will not require repayment or enforce their
security prior to that date. In the event that this arrangement lapses the
Mezzanine Lenders could call for an immediate repayment of the Mezzanine Debt
and interest which would result in the Company being put into insolvent
liquidation.

Increased borrowing facilities

The facility letter dated 1 December 2003 between (1) London Manston Airport PLC
and (2) Bank of Scotland restates the terms of the Group's present borrowing
facility which is increased from 20.0 million to 28.5 million (which is to
reduce to 22.0 million on completion of the Placing and Open Offer). The
increase in the facility is to be applied to fund (a) 5.0 million of
infrastructure works at London Manston Airport and operating costs of the Group
up to completion of the Placing and Open Offer; and (b) 3.5 million to pay MEPC
Limited under the MDL Settlement Deed. The facility is secured by first legal
charges over London Manston Airport and Manston Park and by way of corporate
guarantees from the Company, London Manston Airport PLC and Kent International
Business Park Limited.

Repayment of the Mezzanine Debt and other liabilities

From the proceeds of the issue of the Loan Stock and the Placing and Open Offer
approximately 33.75 million will be used to repay indebtedness as detailed
below.

(a) A total of 16.1 million (calculated to 12 January 2004) of Mezzanine Debt
remains outstanding and is proposed to be repaid from the proceeds of the
Placing and Open Offer in accordance with the proposals set out in this document
and under the terms of the Standstill Agreement.

(b) The MDL Settlement Deed will require the Company to pay 7.0 million
overall to MEPC with 0.5 million being payable from the proceeds of the Placing
and Open Offer. The initial 3.5 million which will be paid being funded by Bank
of Scotland, and this additional borrowing will be repaid from the proceeds.

(c) The sum of 2.0 million, being the balance of the deferred consideration
due to the Ministry of Defence on the purchase by the Company of RAF Manston, is
to be repaid from the proceeds.

(d) The sum of 1.3 million, being the balance of the deferred consideration
due to the M Bourne Charitable Trust on the purchase by the Company of Kent
International Airport PLC (now London Manston Airport PLC), is to be repaid from
the proceeds.

(e) An unsecured loan of 2.3 million from Dallah Albaraka Investment Company
Limited is to be repaid from the proceeds.

(f) Additionally the borrowings under the banking facility with Bank of
Scotland for London Manston Airport are to be reduced by an expected minimum sum
of 8.5 million.

(g) The sum of 1.5 million to HM Customs & Excise, for arrears of value added
tax.

(h) The sum of 1.4 million to the Inland Revenue, for arrears of PAYE and
national insurance contributions.

(i) The sum of 149,375 for deferred payments, in lieu of pension
contributions that are outstanding to the Executive Directors.

Future Property Sales and Use of Proceeds

It is intended that the Group will realise funds to be used for working capital
by the sale or other disposal of interests in its properties during the first
half of 2004. Under the terms of the Trust Deed applicable to the Loan Stock,
although the stock is not secured, there are restrictions on Norham's ability,
as the owner of the Burford, Liverpool and Fairlop Waters properties, to create
security over or dispose of those properties. Norham is able to sell or
otherwise dispose of interests in those properties on the basis that Norham may
use the first 13 million of the proceeds realised for the working capital of
the Group. Proceeds in excess of that threshold of 13 million are to be offered
to Loan Stockholders who are entitled to redeem a proportion of the stock from
the amount available. To the extent that they do not redeem their stock, the
remaining proceeds will be released to Norham.

The Placing and Open Offer

The Company proposes to raise a total of 46.35 million, net of expenses, by way
of a Placing and Open Offer of up to 1,073,750,000 Offer Shares and a Placing of
6,550,000 of Loan Stock. Neither the Placing nor Open Offer are underwritten.

Qualifying Shareholders are invited to apply for Offer Shares on the basis of:

one Offer Share for every six existing Ordinary Shares

held at the Record Date and so in proportion for any greater number of existing
Ordinary Shares then held. Fractions of Offer Shares will not be allocated to
Qualifying Shareholders, but will be aggregated and sold for the benefit of the
Company. Qualifying Shareholders may apply for any number of Offer Shares up to
and including their maximum pro rata entitlement.

In addition to the Open Offer, 6,550,000 Loan Stock are being placed firm with
institutional and other investors.

Certain of the Directors have irrevocably undertaken to take up their respective
entitlements in respect of 888,768 Ordinary Shares under the Open Offer. In
addition Mr Godfrey has committed to subscribe for 766,667 Ordinary Shares under
the Placing.

The Offer Shares to be issued pursuant to the Open Offer and the New Ordinary
Shares to be issued on conversion of the Loan Stock and exercise of the
Warrants, will rank pari passu in all respects with the Ordinary Shares in
Wiggins then in issue. Permission will be sought from the UK Listing Authority
and the London Stock Exchange for listing of the Offer Shares and the Loan Stock
to be issued under the Open Offer and the Placing.

Issue of Warrants

Shareholders on the register of members on the Warrant Record Date will be
issued with one Warrant for every five Ordinary Shares held. Accordingly
Warrants will be issued in respect of both existing Ordinary Shares and Offer
Shares issued pursuant to the Open Offer. Each Warrant will entitle the holder
to subscribe for one New Ordinary Share at the price of 10p during the period
commencing on Admission and ending on the date falling seven years from the date
of Admission. Permission will be sought from the UK Listing Authority and the
London Stock Exchange for listing of the Warrants.

The Proposed Director

Geoffrey James Ambrose (Age 62) (Proposed Non-Executive Director)

Geoffrey has spent most of his career with BAA plc, including time as General
Manager, Stansted Airport and Planning Director, Heathrow, and Operations
Director Australia Pacific Airports. He was Aviation Advisor to the Sydney
Gateway Group, a bidding vehicle for Sydney Airport from 2001 to 2002.

Corporate Governance and Future Board Changes

Following the successful refinancing of the Group, which was my primary mission
when I was appointed Chairman of the Company just over a year ago, it is now
appropriate that I hand over to a new Chairman who will be able to guide the
growth of the PlaneStation project. I therefore propose to stand down as
Chairman as soon as a suitable replacement has been identified. It would then of
course be appropriate for the Board, under the new Chairman, to consider other
appointments that would further strengthen the Board.

Share Option Plan

The Board is proposing the introduction of the Wiggins Share Option Plan (the
'Plan').

The Company's existing Executive Share Option Scheme has recently expired. The
Board believes that this Scheme has proved successful in aligning the interests
of employees and shareholders in the long-term growth and development of the
Company and that, accordingly, the Scheme should be renewed in the form of the
Plan.

In line with current investor guidelines, the Plan will provide for the annual
grant of options over shares worth up to the amount of the participant's annual
earnings (or twice those earnings in special circumstances) at the date of
grant.

The current intention is that options under the Plan should not normally be
exercisable unless specific performance targets are met. The performance targets
will be set at the date of any grant under the Plan and disclosed in the annual
report and financial statements for the Company for that year.

Extraordinary General Meeting

The Circular being posted to shareholders today contains a notice of meeting
convening an EGM of the Company to be held at Fairlop Waters, Forest Road,
Ilford, Essex IG6 3HN on 5 January 2004 at 11.00 a.m., or, if later, immediately
following the conclusion of the Annual General Meeting of the Company to be held
at 10.00 a.m. on that day.

Working Capital

The Company is of the opinion that the working capital available to the Group is
not sufficient for the Group's present requirements, that is, for at least 12
months from the date of publication of the listing particulars relating to these
proposals.

The Group does not have sufficient working capital as a result of:

• ongoing trading losses

• interest payments on Mezzanine Debt and other borrowings; and

• delays in realisation of property assets

utilising all the Group's available cash resources and borrowing and debt
facilities.

In order to restore the working capital position the Company proposes to:

• implement cost savings by reviewing budgets and reducing operating
overheads;

• use approximately 16.1 million of the net proceeds of the Placing and
Open Offer to repay the Mezzanine Debt on or before 12 January 2004 and use
17.65 million of the net proceeds of the Placing and Open Offer to reduce other
indebtedness; and

• dispose of certain property assets.

Assuming that the above is achieved the Directors believe that the working
capital available to the Group will be sufficient for the Group's present
requirements, that is, for at least 12 months from the date of publication of
the listing particulars relating to these proposals.

Shareholders should be aware that if the Placing and Open Offer are not approved
at the EGM, the Directors will have no alternative but to apply immediately for
administration or to commence an insolvent liquidation of the Company. Existing
secured creditors of the Group would then be expected to appoint receivers in
respect of those properties subject to their security.

Grant of Options and potential future sale of shares

Today, the Company has entered into an option agreement under which the Company
has granted to Mr Iny, one of the Directors, an option to subscribe for up to
10,000,000 ordinary shares at an exercise price of 4p per share, exercisable
after the middle market price of the ordinary shares on the official list has
been not less than 14p per share for a period of at least twenty (20)
consecutive dealing days. The period during which the option is exercisable
commences after three years and expires after ten years, and is otherwise
subject to terms that are consistent with those of the Wiggins Share Option
Scheme. This option is not exercisable unless and to the extent that the total
number of shares that may be issued on the exercise of warrants and other
options to subcribe for Ordinary Shares of the Company (not including options
issued under the Share Option Schemes) would not as a result amount to more than
20 per cent. of the Issued Share Capital.

As a result of existing commitments, Harlequin Holdings Limited and Castlegold
Properties Limited which hold shares on behalf of a trust of which Mr Iny is a
potential beneficiary may need to dispose of ordinary shares within the period
of twelve months after the date of this document in order to raise up to 1.5
million.

Expected Timetable of Events


Record date for the Open Offer 3 December 2003

Posting date of these listing particular and the Application Form 10 December 2003

Latest time and date for splitting Application Forms (to satisfy bona fide 3.00 p.m. on 31 December 2003
market claims only)

Latest time and date for receipt of Forms of Proxy for the Extraordinary 11.00 a.m. on 3 January 2004
General Meeting

Latest time and date for receipt of completed Application Forms and payment in 3.00 p.m. on 5 January 2004
full under the Open Offer

Extraordinary General Meeting 11.00 a.m. on 5 January 2004

Admission effective and dealings expected to commence in the Open Shares and 9 January 2004
Loan Stock

CREST accounts for offer shares credited and definitive share and loan stock 9 January 2004
certificates despatched by

Record date for Warrants 9 January 2004

Admission effective and dealings expected to commence in the Warrants 13 January 2004

CREST accounts for Warrants credited 13 January 2004

Warrant certificates despatched by 16 January 2004


Application Forms are personal to shareholders entitled thereto and can only be
transferred to satisfy bona fide market claims.

Sorry folks

will copy the link next time

G12

Thanks gf for taking the time and effort to get such quality info.

I have had information overload about most things today so am a bit confused
as to what to make of Wiggins.However,my gut instinct - excuse basic language -
is that it has great prospects.What do you/all posters think ?rgds aj

Aj

As i stated in an earlier comment :"Great company ,great prospects Lets hope the face fits!!!

:)G12

Hi G12
I agree.I think the company statements/comments give a slightly negative slant
because they had serious problems a few years ago about accounts/auditors.
The way I see it is that we have now heard virtually all the bad news.Do you/
others agree with these 2 sentences ? rgds aj

yep

Paul Merson would of been proud of that straight line on the charts today!!!

i read today that wiggins are to change them name to PLANE STATION lets hope they make a better go of it ?

I see that somebody bought 3,000,000 Wiggins shares today - and no it wasn't me.
Whoever it was does that represent blind optimism, sheer bravery or some really good solid "inside" information?

Hopefully the latter!!

Loads of sells this morning!!!

Remember some big names have stakes in Wiggins, and have bought since re listed
D.Y.O.R you will be surprised and feel more confident with this stock.
From little acorns DO BIG OAK TREES GROW.

All

An FT comment from website

Wiggins has suffered more turbulence in the past couple of years than a single engine Cessna trying to land at Manston in heavy crosswinds. Quite how a property development company managed to show so much red in its books at such a good time for that sector does not inspire confidence. That said, it was partly a casualty of bad timing. So perhaps the new focus, new name, and, eventually, a new chairman, will restore some lustre to the shares, which closed down _p at 4_p yesterday

:)))))

Melbourne will be a great money maker as will London racecourse when permission
granted.rgds aj

Its all looking good for medium / long term

:)

I agree -- unless we are deluding ourselves.
I think/HOPE private investors are panicking.What do you think ? rgds aj

There are a lot of sells today of fairly large ammounts so assuming that you are correct once these are flushed out it should take steady rise??

We are definately not deluding ourselves.
:)

Just a few sells Aj
It will get better
:)



Next

Time Price Quantity Type Bid Offer Buy/Sell Total Buy Total Sell Total Unknown
12/12/03 13:48 3.5 17,391 O 3.5 3.75 Sell 1,901,561 8,372,906 1,618,085
12/12/03 13:47 3.5 10,003 O 3.5 3.75 Sell 1,901,561 8,355,515 1,618,085
12/12/03 13:44 3.5 5,947 O 3.5 3.75 Sell 1,901,561 8,345,512 1,618,085
12/12/03 13:44 3.51 40,000 O 3.5 3.75 Sell 1,901,561 8,339,565 1,618,085
12/12/03 13:42 3.62 750,000 O 3.5 3.75 Sell 1,901,561 8,299,565 1,618,085
12/12/03 13:39 3.5 8,650 O 3.5 3.75 Sell 1,901,561 7,549,565 1,618,085
12/12/03 13:37 3.51 6,000 O 3.5 3.75 Sell 1,901,561 7,540,915 1,618,085
12/12/03 13:30 3.5 9,523 O 3.5 3.75 Sell 1,901,561 7,534,915 1,618,085
12/12/03 13:29 3.6 100,000 O 3.5 3.75 Sell 1,901,561 7,525,392 1,618,085
12/12/03 13:29 3.67 61,500 O 3.5 3.75 Buy 1,901,561 7,425,392 1,618,085
12/12/03 13:25 3.54 100,000 O 3.5 3.75 Sell 1,840,061 7,425,392 1,618,085
12/12/03 13:21 3.75 5,000 O 3.5 4.0 ? 1,840,061 7,325,392 1,618,085
12/12/03 13:20 3.58 100,000 O 3.5 4.0 Sell 1,840,061 7,325,392 1,613,085
12/12/03 13:20 3.58 100,000 O 3.5 4.0 Sell 1,840,061 7,225,392 1,613,085
12/12/03 13:18 3.5 45,000 O 3.5 4.0 Sell 1,840,061 7,125,392 1,613,085
12/12/03 13:12 3.58 100,000 O 3.5 4.0 Sell 1,840,061 7,080,392 1,613,085
12/12/03 13:12 3.5 18,000 O 3.5 4.0 Sell 1,840,061 6,980,392 1,613,085
12/12/03 13:12 3.58 100,000 O 3.5 4.0 Sell 1,840,061 6,962,392 1,613,085
12/12/03 13:12 3.58 100,000 O 3.5 4.0 Sell 1,840,061 6,862,392 1,613,085
12/12/03 13:12 3.58 100,000 O 3.5 4.0 Sell 1,840,061 6,762,392 1,613,085
12/12/03 13:11 3.5 14,269 O 3.5 4.0 Sell 1,840,061 6,662,392 1,613,085
12/12/03 13:08 3.75 6,014 O 3.5 4.0 ? 1,840,061 6,648,123 1,613,085
12/12/03 13:08 3.5 7,907 O 3.5 4.0 Sell 1,840,061 6,648,123 1,607,071
12/12/03 13:07 3.5 15,000 O 3.5 4.0 Sell 1,840,061 6,640,216 1,607,071
12/12/03 13:04 3.58 19,950 O 3.5 4.0 Sell 1,840,061 6,625,216 1,607,071
12/12/03 13:02 3.5 90,000 O 3.5 4.0 Sell 1,840,061 6,605,266 1,607,071
12/12/03 13:01 3.55 20,000 O 3.5 4.0 Sell 1,840,061 6,515,266 1,607,071
12/12/03 12:58 3.75 39,404 O 3.5 4.0 ? 1,840,061 6,495,266 1,607,071
12/12/03 12:57 3.55 10,905 O 3.5 4.0 Sell 1,840,061 6,495,266 1,567,667
12/12/03 12:55 3.5 37,155 O 3.5 4.0 Sell 1,840,061 6,484,361 1,567,667
12/12/03 12:47 3.62 450,000 O 3.5 4.0 Sell 1,840,061 6,447,206 1,567,667
12/12/03 12:44 3.53 94,369 O 3.5 4.0 Sell 1,840,061 5,997,206 1,567,667
12/12/03 12:41 3.53 100,000 O 3.5 4.0 Sell 1,840,061 5,902,837 1,567,667
12/12/03 12:41 3.6 22,516 O 3.5 4.0 Sell 1,840,061 5,802,837 1,567,667
12/12/03 12:34 3.5 400,000 O 3.5 4.0 Sell 1,840,061 5,780,321 1,567,667
12/12/03 12:28 3.58 50,000 O 3.5 4.0 Sell 1,840,061 5,380,321 1,567,667
12/12/03 12:27 3.5 50,000 O 3.5 4.0 Sell 1,840,061 5,330,321 1,567,667
12/12/03 12:24 3.58 80,050 O 3.5 4.0 Sell 1,840,061 5,280,321 1,567,667
12/12/03 12:20 3.58 130,000 O 3.5 4.0 Sell 1,840,061 5,200,271 1,567,667
12/12/03 12:16 3.55 500,000 O 3.5 4.0 Sell 1,840,061 5,070,271 1,567,667
12/12/03 12:14 3.55 84,747 O 3.5 4.0 Sell 1,840,061 4,570,271 1,567,667
12/12/03 12:13 3.55 15,000 O 3.5 4.0 Sell 1,840,061 4,485,524 1,567,667
12/12/03 12:10 3.92 12,372 O 3.5 4.0 Buy 1,840,061 4,470,524 1,567,667
12/12/03 12:08 3.79 10,000 O 3.5 4.0 Buy 1,827,689 4,470,524 1,567,667
12/12/03 12:08 3.55 49,000 O 3.5 4.0 Sell 1,817,689 4,470,524 1,567,667
12/12/03 12:05 3.75 100,000 O 3.5 4.0 ? 1,817,689 4,421,524 1,567,667
12/12/03 12:03 3.8 108,359 O 3.5 4.0 Buy 1,817,689 4,421,524 1,467,667
12/12/03 12:02 3.5 500,000 O 3.5 4.0 Sell 1,709,330 4,421,524 1,467,667
12/12/03 11:58 3.55 24,000 O 3.5 4.0 Sell 1,709,330 3,921,524 1,467,667
12/12/03 11:57 3.5 900,000 O 3.5 4.0 Sell 1,709,330 3,897,524 1,467,667
Next

Wiggins

Proposed placing of up to 1,03,750,000 shares of 1p each at 4p per share proposed placing of 6,550,00 8% convertible unsecured loan stock 2010.


Regards G12

Hi G12
Thanks for so much quality information.
Stabilised @ 3.62 now with only 1 m volume.I think/HOPE all the nervous holders
are gone.rgds aj

Note the new release from Wiggins ref. press speculation.

All

Worth checking WWW.wigginsgroupplc.com for full PDF download.

Regards G12

Socrates.What do you make of the press speculation/new release and do you
think this will have any effect on price ? rgds aj

ajren
I think the press speculation is a lot of uninformed hot air. I don't think the price will be affected until January when the placing etc. is signed, sealed and delivered. Frankly, I'm fence sitting. I don't know enough about Wiggins near future plans to make an assessment.

But let's face it, if Liverpool or Fairlop proceed to obtain planning permission there will be a sudden change in how Wiggins is perceived by the markets. Whether people dislike the current management or not, an asset that changes from next to nothing in the balance sheet to multi-millions cannot help but have a considerable impact on valuation and subsequently the share price.

In the meantime, airports are gradually starting to inject income into the balance sheet. Every pound earned is a pound less debt.

I tried to scan an article in the local rag on Friday but was unsucessful.

The current chairman is due to standdown when a replacement has been found.

And Wiggins have reduced their current debt i think by 12m


Regards G12

Thanks.I always felt the prospects are excellent.However,it is great to get
others opinions and facts to keep a sense of balance.I find it difficult to be
100 per cent objective when I hold shares in any company.
I placed www.portcanaveral.org/about/airport.htm before.I mention it again
in case some posters have not read it.rgds aj

+ .38p = 4p
rgds aj

Bought in at 5 before the suspension so still in the red and also 14.5 several years ago!
Really would like to see the price where it was 2 or 3 years ago 47 fingers x

Regards G12

Press Speculation

The Directors of Wiggins Group Plc have noted the article in the Racing Post of 13 December 2003, and, for the avoidance of any confusion, confirm that the Placing and Open Offer referred to in the Circular to Shareholders dated 10 December 2003 has been completed, conditional only upon the approval of Shareholders in the Extraordinary General Meeting convened for 5 January 2004 and the admission of the new ordinary shares and loan stock to listing

Prudential taken 200,000,000
rgds aj

Nice little jump in the price today, a few more days of that would be most satisfying.

London Manstons TravelStation website is now on line. More forward moves by Wiggins to expand it's horizons with Planestation.

http://www.travelstation.co.uk/

thanks socrates.what a interesting website .i have been holding this stock since 1999,and have brouhgt 4 different prices,altogether 7000?????????????????? i live local and there seems to be alot of interest again.i keep reminding myself that stocks+shares are for long term? lets hope so?????

llewellyn
That's just the Travelstation website, do you have the Manston website too? I'll post a link if not. I'd appreciate it if you could post news from the odd article in the Kent newspapers, Thanet Gazette etc. I get some news from relatives who live in Birchington but they don't always remember to tell me.

Do you ever get into the terminal building. Cheap cafe with great view of the apron, they do a lovely cumberland sausage lunch. Time I went back there again.

WIGGINS FLIES ON WHITE PAPER BOOST

Shares in Wiggins Group plc, operators of Manston Airport in Kent, jumped 10.34pc to 4p after the government White Paper on the future of air transport said there was scope for existing small airports to meet future air traffic demand.

“The White Paper offers us a major opportunity for growth by making it clear that there will be no new runway capacity elsewhere in the south east before 2011-2012 at the earliest,” said a Wiggins spokesman.

The spokesman went on to say “It recognises that there is considerable scope for us to meet demand for air services and goes on to bracket Manston with major airports such as London City and Southampton.”

Manston, a former RAF base, was acquired by Wiggins in 1997. It is ideally placed to receive overspill traffic from heavily overcrowded Heathrow and Gatwick. It has a runway capable of supporting intercontinental passenger flights. The volume of cargo traffic handled through the airport is currently up 29pc on last year.

Wiggins is in the throes of a major financial restructuring to clear debts and provide cash to develop its PlaneStation strategy of regional airports.

Regards G12

All great news but why is the price only 4p ?
rgds aj

More sells than buys today??

4p @ only 1,000,000 volume so not - perhaps stupidly - worried.
rgds aj

Have a butchers at the wiggins web site today.
Not quite sure how put the link on. Sorry

www.wigginsgroupplc.com

G12 :)))))

Just in case anyone is confused :-

www.wigginsgroupplc.com is the SAME as www.wigginsplc.co.uk
rgds aj

Ref only 4p

Many of the institutions are virtually unable to buy until finance is 100 p.c
arranged.
rgds aj

"Bloody good news" Please read

The South East

Our first priority is to make best use of the existing runways at the major South East airports. Beyond that, we support the building of two new runways in the South East in the period to 2030.

We support development as soon as possible (around 2011/2012) of a second runway at Stansted as the first new runway for the South East. Noise should be strictly controlled, and loss of heritage and countryside kept to a minimum. We do not support options for two or three new runways at Stansted.

We support development of Heathrow provided that strict environmental limits can be met, including a new runway as soon as possible after Stansted (in the 2015–2020 period). We look to the operator to safeguard land for it. We propose an urgent programme of work to tackle the air quality problems at Heathrow and consider how best to use the existing airport.

We believe that land should be safeguarded for a new wide-spaced runway at Gatwick both on its own merits and in case the conditions attached to a new Heathrow runway cannot be met. But we will not act to overturn the planning agreement preventing a second runway before 2019. We do not support the option for two new runways at Gatwick.

We support the growth of Luton up to the maximum use of one runway, but we do not support a second runway.

We do not believe that there is a strong case for creating a second hub in the South East, whether or not a third runway is built at Heathrow.

We do not support a new airport at Cliffe, because of its ecological damage, safety risk and doubtful viability.

We do not support development of Alconbury for passengers or freight but we recognise the potential to move aircraft maintenance there from Cambridge.

We believe that there is considerable scope for London City, Norwich, Southampton, Southend, and Manston to help meet demand for air services. Nor should the potential of Lydd, Shoreham, and Biggin Hill be overlooked.

We do not support any of the other proposals for alternative locations put forward during the consultation.

G12

Where did you see this "BGN"

Rgds - Rubbish

Rubbish

On the wiggins web


Regards G12

G12

thanks - have now seen wiggins web and it can only help the eventual
price upwards

Rubbish

If you liked that website, try this one

http://www.london-manston.com/info.html

,,,and this one

http://www.travelstation.co.uk/

Not bad Smarty pants!!

So How do you attach a link?? Cause ihavnt got the foggiest

Cheers G12

4p@only 55,000 Volume.All-hopefully-the Negative players have run away.rgds aj

4.12 p = + 0.12/+ 3.13 per cent @ V = 2,363,009/Average V = 3,958,658.rgds aj

Golfclub12
It's not hard to post a link.

First, go to the page that you want to post the link to.

Look at the top of the page, like this one for instance, and you will see the address line for it. Yes, that's right, it's the line that begins http://www............etc.

Now, use your mouse and left click once on the address line, it ought to change colour. Then right click on it and a small dialogue box should open.

Select copy. What you have done is to place a copy of the address onto your clipboard.

Now go to the message you are writing in MoneyAM. Write your message until you get to the point you want to put the link, I usually press enter a couple of times to place the link in its own line.

Now look at the bottom of the box and you will see a line called "link:"

Place the cursor into the link box and left click your mouse. Then press "Control" and 'V' together. The link will now appear in that box.

If you can't handle two keys at once, right click your mouse in the box and select "paste", the effect will be the same.

Then simply left click your mouse on the box where it says "insert website link"

Lo and behold the link should now appear in the reply box. Then just finish your message as normal and press "post reply".

All very simple, even I can do it.

Please don't be offended if I spell it out too simply, what is second nature to many of us can be confusing gobbledegook to others.

Just an aside, what operating system are you using?

Socrates


Ta


G12

Wiggins intrims are out today!

:Board Changes

As set out in the Listing Particulars sent to shareholders on 10 December
Geoffrey Ambrose will join the Board following the completion of the
refinancing. I also announced my decision that following the successful
refinancing of the Group, which was my primary mission when I was appointed
Chairman of the Company just over a year ago, I intended to hand over to a new
Chairman who will be able to guide the growth of the PlaneStation project. I
therefore propose to stand down as Chairman as soon as a suitable replacement
has been identified. It would then be appropriate for the Board, under the new
Chairman, to consider other appointments that will further strengthen the Board.

Richard Bernays

G12

19 December 2003

Interims :- I read - in great detail - the entire documents that were posted to me in Spain and see NO Negatives.rgds aj

Up to 4.25p
rgds aj

Investors Chronicle article on Wiggins www
rgd aj

not bad news of wiggins this time ? i hope that there new approach with planestation will put them in a good position now the goverment have given more feedom with air travel at local airports?

Wiggins
Investors Chronicle

Wiggins immediate financial future is secure. Management is raising 46.3m, after expenses, in place of an open offer. As long as this is approved by shareholders, it will mean the group can pay back 16.1m of crippling mezzanine debt, on which it has been paying interest at 48 per cent a year – and 17.65m of other loans. Annual cash burn has fallen from 10m to 4m as air travel volumes have improved, and chief executive Oliver Iny says it will drop to 2.5m once the debts are paid off.

Cash inflows should also come from property sales. A big disposal in Liverpool should be under way by the end of 2004, another one - in Oxfordshire – could be five to six years off.

The proceeds from other property sales – mainly sites around its airports – will be ploughed into Wiggins Plane Station concept. The group owns or has leases on seven tertiary airports internationally, and wants to make these into a network, allowing airlines to negotiate single sets of landing charges and handling fees. Wiggins intends to change its name to PlaneStation

Merry Christmas all
G12

..... and Merry Christmas and good health to all for New Year.
rgds aj

Morning all

This help things tick a long a little better!

Wiggins, the fully listed airport and property company, is to continue to expand its global network of regional airports, having successfully raised 46.35m, net of expenses, of new funds from major City institutions.

At its AGM held earlier today, and later EGM, all resolutions were passed, including those relating to the raising of new funds and the change of name to PlaneStation Group Plc.

The injection of new funds will significantly reduce the Group's debt burden and give the Board the flexibility to roll out more regional airports and improve the existing network. The Group will also provide additional financing for its expansion through the development and sale of certain property assets including prime sites in East London, Liverpool and Burford, Oxon.

Since acquiring Manston in Kent six years ago, the Group has expanded its PlaneStation network to include six strategic airports around Europe and Melbourne International Airport in Florida, USA. A recent government White Paper stressed the importance of growing smaller airports in the UK rather than expanding already over congested larger airports such as Heathrow and Gatwick.

The Board has been strengthened with the appointment of Geoffrey Ambrose as a non-executive director. Mr Ambrose has significant experience in airport management having previously held senior positions in BAA plc, including General Manager of Stansted Airport and Planning Director, Heathrow Airport.

Wiggins Chief Executive Oliver Iny said: "We are proud that some of the best known institutions in the City have backed the new strategy and decided to invest in the future growth of your Group."



Copyright 2004 Wiggins

Lets hope they start to move soon!!

Manston To Fly As Cliffe Is Grounded
Kent Business

Airport joy as council spells out challenging 2004 agenda

London Manston airport has won renewed backing following the government’s decision to ground controversial plans for an airport on Cliffe marches.

Kent County Council welcomed the decision by Alistair Darling, the Transport Secretary, to rule out the precious wildlife site.

Instead, he opted for runway expansion at Stansted and Heathrow, Birmingham and Edinburgh, with the possibility of an extra runway at Gatwick after 2019. While some business people and planners thought an airport at Cliffe would have given a tremendous boost to jobs and commerce, KCC insisted it would have “over balanced” the economy.

Cllr Alex King, Cabinet member for regeneration, said increased airport capacity was essential to Kent’s growth, but Cliffe was never the right place for it.

Manston has a runway capable of taking intercontinental passenger flights – it is in talks about scheduled charter flights to Florida – and cargo traffic rose 29 per cent last year.

“It gives us a real opportunity to develop Manston,” said Cllr King. “Blight is now off. I would like to see Manston realise its full potential.”

A spokesman for Wiggins Group, the owners of Manston, said the Aviation White Paper offered it “a major opportunity for growth. It recognises that there is considerable scope for us to meet demand for air services and goes on to braket London Manston with major airports such as London City and Southampton.”

Mr Darling’s decision was greeted with tears of relief among opponents of a scheme that would have seriously damaged Dickins Country and a unique site for birds.

It was a huge victory for the people of the Hoo Peninsula and beyond who campaigned against the proposal.

Campaigner George Crozer said: “The decision is a huge relief. I’m over the moon the fight is over.”

Meanwhile Cllr King outlined a number of other challenges Kent must over come to take advantage of “an open window of opportunity” running up to 2007 – when the Channel Tunnel Rail Link is fully open – and beyond:

Everyone has to pull together.
All opportunities to promote Kent’s interests should be seized.
The Government must be persuaded to invest up to 10bn in infrastructure to go hand in hand with the housing development.
Kent should offer better communications such as universal broadband.
The country’s position as a gate way to and from Europe has to be emphasised.
Education “from primary school upwards” must achieve a step change in skills.
Entrepreneurship has to be encouraged.
The Government should reduce the burden of regulation and reverse the trend towards “stealth taxes” and taxes on businesses.