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.

Two interesting posts today Duplex, thank you.

Any idea how much Oliver Iny controls, either directly or through his trusts?

PlaneStation Group PLC
Shareholders

Shares in issue: 2118.7m 1p Ords
Major Shareholders Amount % Holding
Prudential PLC 315,824,965 14.91
Harlequin Holdings Limited (dup) 159,513,855 7.53

Other Directors Amount/ % Holding

Christopher Kenneth Foster 14,746,982 / 0.696

Rona Delves Broughton 2,145,380 / 0.101

Richard Oliver Bernays 1,000,000 / 0.047

John Sebastian Mackay 1,000,000 / 0.047

Geoffrey Lansbury 725,645 / 0.034

Oliver I Iny 260,000 / 0.012

Nicholas Joseph Godfrey 200,000 / 0.009


Source: www.hemscott.net

Roll on 20p

As you can see, Iny holds very few shares directly - surprisngly - so I guess the rest must be via his trust. I do not know if that is Harlequin. I'll have a dig...

Todays Financial Times

Oliver Iny of planestation the airport operator formaly wiggins will next week try and stave off a shareholder revolt to oust him as chief executive at an emergency board meeting on monday. Mr Iny is proposing to bring in Steven Davidson the former chief executive of telewest as the new chairman. PTG's largest shareholder PRU is understood to be calling for Mr Iny's removal after Robert ware the former MEPC executive proposed a BREAK UP OF THE COMPANY AT 10P A SHARE which would vaue PTG at about 200 million

He he he good news or what...

I don't think Steven Davidson had a great track record as chief executive of Telewest. Iny could have finally burnt his boats with that choice.

Agree. Either way looks like a future where the pro's with the money are about to battle it out - allowing us to await their highest bid.

Question - If he is prepared to pay 200 million, what's it really worth? A lot more than 200 million, as wiggy watchers have been saying for years.

Totally agree. 10p is just an opening salvo. It is a rare bid that is accepted immediately. The board would look like they are not acting on the shareholders behalf. The stats on this kind of activity show that the price always moves up from the initial offer. Yum yum...

I expect an early MM mark up, but not too silly - as the MMs make their money on volumes, and then the price could go to 9p over the next few days - a conservative estimate, depending on the newsflow.

Morning all

Plenty of interest this morning over 1.5 million all ready traded.

G12

Yes, Going great.. Up 1/2p so far today. Just topped up with another 60k shares.. should double this/next week.. :)

There has now been a sell for 3m and a sell for 3.8m in the last hour - anyone enlighten me?

PUFF PUFF

When was it going to be 10P?

Some big trades through in the last half hour, including two MM buys of 1m and 500k both at 5.5

RNS Number:2856W
Planestation Group PLC
08 March 2004



Following a Board meeting held earlier today, the Company announces Mr Oliver
Iny, its Chief Executive, will with immediate effect cease to hold any executive
responsibility and steps are being taken to terminate his appointment.



This action has been taken as a result of a loss of confidence by the Board and
amongst major institutional shareholders. The Board is seeking a new Chief
Executive Officer. In the meantime its Chairman, Mr Richard Bernays, has been
appointed Acting Chief Executive.



Further enquiries:

Isabel Crossley St Brides Media 020 7242 4477


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

That could explain the late big buys this afternoon!

what a shock mr.oliver going good thing or bad???54 millon shares traded today?

llewellyn
It's a bit of both.

On the plus side, OI has the entreprenaurial spirit to visualise grand projects and concepts. He has also kept an aviation related company afloat, given that it's finances were never great, through what must be the worst ever combination of negative influences since the Wright Brothers, i.e. 9/11 and SARS. Who knows where Planestation would be without those influence?

On the negative side, he has had a history of predicting great things and then being unable to deliver, not always his fault but the mud sticks. There was also the issue of the re-stated accounts that were constantly being trotted out by his detractors and also the odd court case that did his reputation no good, IMHO.

Only time will tell, as long as there is a good team driving the company forward and the bean counters don't take over we should be OK.

I think it's a positive move, but it doesn't matter what I think! MMs had a sniff of the RNS late this afternoon and marked the price up, so it looks very good for tomorrow.