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.

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?

Angi

A T trade is a protected transaction.

Got this explanantion from the 'Fool' website. Hope this helps.

A protected transaction occurs when a large order is going through the market. The buyer (or seller) may wish to keep the order anonymous from the rest of the market as the size of the order could greatly alter the price of the stock. With a protected transaction, the dealer will put the trade through in small quantities rather than knock the whole order out in one hit. The entire transaction is reported once the deal is completed. The LSE is notified at the start and at the end of the transaction. However, the market as a whole isn't told until the end, thus the order is protected.

Rgds

PTH

Article in the Mail on Sunday says that Iny's successor is expected to be announced this week.

Big article by Edmund Jackson in Sunday Telegraph on PTG today - main gist being that shareholder value in the long term is likely to be destroyed by a bid to take the company private led by Prudential/Robert Ware

One man's opinion, I don't agree with it, but I'm not about to try and rubbish it. It will be interesting to read the contents of the RNS, and see the reaction to it by the shareholders and the city.

I sold my shares last week because of :-

1.Lack of confidence in the Company
2.Terrorism

Ref 2 :- Al Quaide appears to be responsible for Madrid bomb.The new Government
will withdraw troops from Iraq so they might direct most of their attacks at
the U.K.If so,airports/airlines will probably remain high on their list of
targets.All airports/airlines will suffer greatly if there is such an attack.
This will leave Manston very vulnerable : perhaps especially their commitment
to Florida.

Many posters on treads think I am very negative.However,I am merely giving my
opinion.
rgds,aj

Arjen

Fair enough reasons for selling - I think we are all a bit wary towards holding shares with the current backdrop of potential terrorism. Personally believe the risk/reward balance is worthwhile with this share with Iny going and the potential of a break up/takeover led by Robert Ware and or Prudential.

what happens to our shares if they take the company into private ownership ?

Yes,I agree i.e.there are many Positives.I am delighted this board gives so
many diverse facts,opinions and even guesses from astute investors.
rgds aj

Skyhigh,

We get whatever price they agree to pay - 10p was muted pre Inys removal. This is likely to be acceptable to those who have not been holding for too long, but some who have been holding since Wiggins days are unlikely to recoup what they paid.

On competitor BB, those who have held this for several years and feel that the company is finally about to deliver some value are not at all happy that it could be broken up for 10p or less (most of them don't want to sell for less than 25p). They feel that this would be getting the company on the cheap prior to it delivering real shareholder value. IMHO, I bought below 4p and topped up at 4.7p so I would be quite happy with 10p.

Aj,

thats what its for isn't it - as long as thoughts are backed up with reasons - then whether positive or negative they are still constructive (something competitor BB i mentioned seems to have forgotten!)

Further to the declaration by eujet that they intend to announce their flight network and fares next month, with cities such as Amsterdam, Milan and Zurich
(www.timesonline.co.uk)
The EUjet website is adverising for Italian speaking Cabin Crew at their Milan -Malpensa and Bergamo (Italian) bases.
http://www.eujet.com/vacancyCCI.html

Now i wonder which flights they might need new Cabin Crew for???
Also -
The LSE states 25m traded today?? Small Caps dealing???
good luck to all
ED

Some interesting trading this afternoon, suddenly went up a gear, something in the wind?