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.

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.

There is no reason why this share price shouldnt head back to where it came from (40+). Providing contracts are won and the company is managed properly there is no reason why not.

G12 :))

Unless the deals effectively been done to break it up at a lower price i.e. the 10p that was mooted at the weekend

surely in any case ptg must be worth buying at these prices - have just topped up @5.45

Thats what i thought yesterday as well and bought in again at similar price..but... nothing really has happened to the price since.. would have thought it would gone up by now ?

There appears to be a sells going through in large sizes - are they holding the growth back or do they know something we don't?

If Iny had a few contracts lined up (I know he's been a pain) and now he's been kicked out perhaps they will lose them. Perhaps Robert Ware (and the Pru) have different ideas and just as there's a possibility the company is aout to turn the corner it'll be sold.

Both ! Who knows whats going to happen now ?

skyhigh, it's a bad morning for the markets generally. The mood was positive early on with a lot of big buys going through, and then the FTSE started going down which put the brakes on. Very few shares are going well today so far - if the FTSE and everything else was going North then I would be concerned.

Thanks Scottie, I feel a bit better about this now. Yes, you're right about about the whole market being down. Let's hope we start seeing confidence and good buying back soon. :)

Great post on the summary of trading today, courtesy of Two Palms on another bulletin board.

trading today

after manipulation by mms yesterday it was easier to understand the outrage today. Yesterday the "T" trades amounted to approx 15m and the price varied from 5.25 - 5.7,
imho these were part of a buy order which began yesterday, (some argued that they were "T" trade sells, but none of them went below 5.25 which i find suspicious, and the question remains why protect a SALE of 15-25 million shares in PTG shortly after news of EUJet, why not just sell them? Who needs protecting when yr selling?

So i am convinced this is a protected buy, coinciding with the ousting of Iny
even more so as this morning everyone was buying and just Bard were on the offer @ 5.75 for 250k, but after 10m shares were bought by investors the share didn't tick up, instead it ticked down later in the day! Because there were protected deals waiting to go thru later, and these had to be between the 5.25 and 5.5 range
Today as it was yesterday most of the sells on advfn were buys, because they
had a vice on it and the spread as pointed out earlier was tight!
The MM's remit surely was to keep the price within these parameters until all "T" trades had gone thru - see late in the day there were more. Has the order been filled yet?

Tomorrow we will either have more "T" trades and the price will remain circa
5.4 bid, 5.5 offer until all "T" have gone thru, or the large buy order has been filled.

It seems the MM's blatantly controlled the spread yesterday and today, if so then we will either see an RNS, or this protected trade will end and the stock will be in demand and 10p might be here quicker than any of us imagined

Morning all

Confirmation of what we already no:

Stock Exchange Announcement

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.

G12

Piece on PTG in Invest. Chronic. this morning.
Says on balance, Iny going is probably a good thing. He was sent packing as Pru. and others were not happy with the pace of progress. Now he's out the way, there'll be quicker progress, more newsflow and hopefully better share price. Hopefully this is not speaking too soon but I reckon the SP has held up fairly well considering all that's happened this week ?!
Should see SP strengthening when the market regains confidence.

Does any one else have any news & views ? :)

Skyhigh

I am fairly new to investing so I am afraid my opinion does not carry any great experience, but in addition to my own portfolio, I also am a member of a share club. We decided yesterday to invest in PTG, not sure if we have bought yet and its not a large amount of money, but we will be in and should I free up some cash I will probably buy some myself, (if I can buy at the 5p level). I watched the SP yesterday with some interest, and as you quite rightly say it held up well under the circumstances. I saw that there was also a 'T' trade going through, so it seems the post by Scottie (272) further explains why the price has not responded to the recent news.

Regds

PTH

What is a 'T' trade?