Time now for all us Wiggins watchers to move with the times and start using Planestation, the new company identity. The name Wiggins Group plc has now disappeared from the database at Companies House and Planestation is now listed on the LSE website.

So fellow travellers, forget Wiggins, the name of the game is now PLANESTATION. Lets hope it goes like an express train.

We're out of the shit for the foreseeable future, now, anyway! Good man Martin May - the city trusts him.

If I understand you, you're saying things are looking up - well where is the evidence - not by sp.
This company has been a disapointment to its shareholders ever since.... it started - all "hopes and planes will fly" - yet in reality hardly anything has got off the ground without a huge cost to shareholders. I'm not convinced they needed to buy EUjet and not for so much cash - couldn't they have rented them some runway/tarmac instead?
Is the ann today another begging-bowl, or am I still remembering the last funding.

Evening all,i take it a few of you are long term holders,i`ve been looking at this of late,and i think it its about right for a buy,,cheap as chips.

dd
As long as you recognise this is a high risk stock. Much controversy over the future of PTG, strategy etc. I am still a holder and follow all the events but I can't see much prospect of recouping my investment in the near term.

Socs,is it another jam tomorrow stock,it looks that way to me . Lots of news of late all bad,,thats unfortunate for the long term holders,,so chin up & out with the trifle ..

DD

Im not sure at the moment there is that much promise of any jam tomorrow either. BAsically, it is a company that has some valuable property assets but that has had a confused strategy for a while (more confused since they bought a share in EUJet). They havent succeeded in realising the value of these assets over the last few years and this has resulted in several calls to the market for more funding. This problem has been exacerbated by the loss of the freight business at Manston and the purchase of 30% in EUJet which currently is eating working capital up. With no more progress on the sale of LFG and the refusal of planning at Fairlop the latest cash call was the last straw for the share price.

If I was looking to buy back in I would look at the asset value that could be realised and offset the cash burn against this to try to ascertain a potential value. Since taking over, May has not outlined a clear strategy rather announced it as it happens ie the EUJet deal. In the short term they need to get a good level of freight going through and realise at least one property asset. Without this, they will either require yet more funding or go bust - the problem being the strategy that management are employing is still not clear.

Dave
It's definitely a jam tomorrow stock. The big question is, when is tomorrow? There is a lot going on and I have not yet thought out the full import of the RNS.

All

Not quite sure whether there has been a posting regarding this issue ,but apparently the City has secured PTG/Eu jet future for at least 2 years by investing 30 million. This apparently was published in a broad sheet last week.
Surely this is or should be major encouragement to all future investors that the city has faith in PTG
G12

There was an RNS Thursday, but with shares issued at 10p that bound to peg the price for a while

Planestation Group PLC
16 December 2004


Not for release, publication, or distribution in or into the United States of
America, South Africa, Canada, Australia or Japan



PLANESTATION GROUP PLC
('the Company' or 'PlaneStation')



Proposed Exercise of Option to acquire EUjet Ops Limited, Firm Placing of
250,000,000 New Ordinary Shares by Evolution Securities Limited and Placing and
Open Offer of 50,199,918 New Ordinary Shares at 10p per share


Overview:



Raising 30 million for working capital to finance the Group and EUjet
in its bedding-in stage and safeguard the value of the Group's other core assets

PlaneStation to acquire remaining shares it does not already own in
low cost airline EUjet

Following the launch of EUjet at KIA, from 1 September to 30 November
it flew 73,500 passengers

Synergistic benefits of combining the operations of KIA and EUjet

Further property sales are expected to raise net proceeds of
approximately 15.5m over next 12 months

this company is a donkey going no where????????????????????????????????????????????????? held this company far to long :[

Somebody just dumped 4.2 million shares, own up, was it you?

Offer price just gone up to 11p.

1 by christmas

LOL

what`s that Jeff, for the whole company ???

Interesting........"the company is proposing to sub-divide every
PLANESTATION GROUP ORD 15P share into 1 PLANESTATION GROUP ORD 1P share"....is this true? If so almost back to square one, well almost!!!

what ?? that`ll take them from 5p at consolidation to 0.75p ???

Happy New Year to all Planestation investors - tongue in cheek somewhat given the news of the sub-divide! but hey 'things can only get better '!!! Who do we thank for looking after our investments so well?

Look on the bright side, it is still breathing.......! My investment in SFI just vanished when it went private and you can't even write it off as a loss!

jj50 many thanks for that encouraging thought are you going to take up the offer or will I be the only one?...still thinking at the moment....