Watch out for this one floating in the next few days, it could turn out to be the float of the year. Theres not much available on the company yet but I have found the write up below which shows the fantastic potential of this one. Note just how cheap it is.

New Issue: here's one that's more than hot air

Published: 12:45 Monday 27 February 2006
By Cliff Feltham, Companies Correspondent

Owners of thousands of buildings in the UK are facing massive bills over the next few years to comply with new energy standards, which is good news for new AIM entrant Worthington Nicholls.

Air conditioning and ventilation units using ozone depletive gases have to be replaced by systems using more environmentally friendly gases.

The measures are creating a windfall for air conditioning installation companies like Manchester-based Worthington Nicholls which is to float on AIM with a price tag close to 35 million.

The firm, which has been around since the early 1970s, needs extra working capital to cope with the influx of orders which will see this year's turnover climb from 11.7 million to nearly 30 million.

The flotation, sponsored by broker Corporate Synergy, will also allow founder chairman Peter Worthington, who is nearing his 70th birthday, to sell shares worth around 7 million.

After years of steady progress, the firm has seen a huge jump in work triggered by new energy efficient legislation flowing from the Kyoto Agreement.

The deadline for owners of buildings to replace air conditioning, heating, ventilation and chilled water systems using banned gases is the end of 2009.

Chief executive Mark Worthington, son of John, believes there are at least 9,000 buildings in the UK which will have to comply with the new regulations. But the figure could be much higher. ' We are talking billions of pounds here,' he says.

Worthington Nicholls has concentrated on servicing hotel and retail clients which include Hilton, Holiday Inns, Debenhams, Arcadia and Boots.

A new, energy compliant air conditioning plant in a high street store can cost anywhere between 80,000 and 120,000. Re-fitting a Debenhams branch cost 670,000 while hotels can expect to pay around 3,500 a room for a new air conditioning unit.

Worthington Nicholls offers a complete service, designing the system, managing installation and providing regular maintenance. At present income from maintenance contracts is running at around 20% of total sales but that is expected to rise.

The flotation, which is raising a total of 15 million, will also provide a warchest for acquisitions. Two deals have already been lined up with will add another 20 million a year to turnover.

Mark Worthington says there is huge scope for acquisitions. The company claims to be market leader yet it only has a 3% share suggesting plenty of room for consolidation.

The company is making some confident assumptions about future growth. Profits are expected to rise from 3.7 million last year to 8.6 million in the current year to September. By 2008 it is projecting earnings of 12.6 million on sales of 45 million but this does not take into account any contribution from future acquisitions.

Says Worthington: 'Stringent environmental legislation has changed our business. Now the large international hotel and restaurant groups prefer to deal with a single supplier. We believe there is huge scope for expanding not just in the UK but across Europe.'

Price of the shares being placed will be fixed over the new few weeks following investor presentations with dealings due to start in about a month's time.

Please DYOR and do not use money on shares you cannot afford to lose.

cheers GF.

And traders trading .

Well, it sure ain't the fundamentals now is it? ;-))

hang-on, i do seem to remember GF did say when he'd sold out and prior to that gave many mis-givings about the situation as his reason, so you keep pumping money in but don't blame others when you lose that as well, this will retrace to 20p or even less in mho. Shorters will be out for it again by week end as profits are taken by others, more bearish sentiment and further rumours of its balance sheet should speed things along. So be careful, many better stocks out there.

Goldfinger sold out on 6/7/07 see his post 821.

Good man, GF.

It seems a lot followed him in, yet failed to follow him out. Muppets.

You've only yourselves to blame in that case

You would think the directors would buy again at this price , unless they think the sp will drop again (after poor results)

The Directors are probably too busy trying to save their jobs than buying stock!

Directors are to be sacked for making such a blunder of a stock. Investors should vote to hold a emergency AGM.

Looks like institutional selling; 11% drop today.


Worthington Nicholls Group plc
24 August 2007

Worthington Nicholls Group Plc (the 'Company')

Holdings in Company

The Company announces that it received notification on 21 August 2007 that Royal
London Asset Management has a notifiable interest in the Company of 3,634,716
ordinary shares representing 4.18% of the total voting rights of the Company.

The Company announces that it received notification on 22 August 2007 that Legal
& General Group Plc has a direct and indirect notifiable interest in the Company
of 2,649,325 ordinary shares representing 3.04% of the total voting rights of
the Company.

The Company announces that it also received notification on 24 August 2007 on
behalf of AXA S.A that it has an indirect notifiable interest in the Company of
5,345,000 ordinary shares representing 6.14% of the total voting rights of the
Company.

Every one getting out before they go under .

Probably waiting for GF to give the ok HARRY .... like some of the others on here who won't take responsibility for their own actions.

rumoured MBO, anyone still hold? worth a punt? Is this heavy volume?? question questions.

Hmm, no, doubtful?, avg for last week or so.

Too many questions. :-)))

Talk of MBO??? Where please?

Not sure the heading to this thread should be changed to "sink of the year"

HOW ABOUT. MORE GLOBAL WARNING.ITS GOT TO BE HOT.

We must be about due for the next profit warning.

I understood the anticipated profits are many times the Mkt Cap.....looks pretty good to me! I hold from recent lows.
If only a few other AIM-listed companies were able to boast as much.
The earlier valuations were probably too high, -esp. given the somewhat unusual share-dealing r4eports regarding execs. This needs investigation, but probably will be ignored; with the FSA so busy shouting at retail shareholder websites.

Trading statement



The Group's current financial year ends on 30 September 2007. The Board intends
to issue a trading statement in the second half of October 2007 outlining, in
broad terms, the expected outturn for this financial year. At that time the
Board will provide an update on the progress of the reviews that are referred to
above.

LONDON (Thomson Financial) - "Worthington Nicholls Group PLC said it has appointed Chris Neilson as interim finance director with immediate effect, succeeding the current finance director Tim Hunt as he steps down from the board to take charge as head of finance.

Neilson was the finance director of Synexus Clinical Research PLC from September 2005 to September 2006.

The air conditioning and heating systems maker said its cash balances as of Sept 17 were around 12.5 mln stg and it is not planning to make further acquisitions in the short term."