Wiggins is a property group turned airport operator.

They currently own land at and or will operate 8 airports(planestations).

These are

Manston in Kent
Lahr in Germany
Parchim in Germany
Cuneo in Italy
Odense in Denmark
Smyrna in the US
Pilsen in the Czech Republic
Ajman airport

The main initial focus is on cargo operation manston is currently the 7th biggest airport in terms of cargo weight in England. cuneo is the only Airport that currently has scheduled services from 3 febuary there will be 3 flights a day to Rome and 1 flight a day to Strasbourg in the summer there will be charter flights.

As well as the airports Manston still has a valuable non airport related land bank which it plans on selling/developping and using the money generated to invest in the planestations.

CLIFFE v. MANSTON - YOUR VIEWS (SHOULD) COUNT

In the letters section of the Isle of Thanet Gazette (April 12th) Dr. Ladyman, the MP for South Thanet, made the following statement :

"Nowhere in the developers' strategic plan, nor in Kent's draft structure plans, is the possibility of Manston being London's fourth airport raised, nor are any of the estimates even remotely in line with those expected at one of London's major airports. The idea of planes taking off at Manston every few minutes throughout the day and night is entirely a fiction dreamed up by people like Mr. Binding who want to see the airport closed down."

Two weeks ago, national newspapers leaked news of the government's intention to list Cliffe, on the Isle of Grain as a possible site for a new London airport. Kent County Council reacted with immediate outrage. The leader of Kent County Council issued a statement condemning the Cliffe proposal and stated that KCC wished to expand Manston instead.

It seems clear that the concept of Manston becoming the next London airport, far from being, "a fiction dreamed up by people like Mr. Binding," is a very real possibility and is being actively promoted by KCC. Dr. Ladyman's assurances are clearly not worth the paper they are printed on.

KCC's leader, Mr. Bruce Lockhart, gives his reasons for opposing Cliffe as the environmental damage that would be caused. For this reason, even before the Cliffe proposal is officially announced, he and his colleagues at KCC have commissioned (at the taxpayers' expense) a report into the likely environmental impact. . In stark contrast they have seen no need to commission an environmental impact assessment into the consequences of expanding Manston. Their off-the-cuff assertion that Manston should be used instead, seems at best to reflect a rather nae belief that no environmental problems exist at Manston. At worst, the call to use Manston indicates that they are prepared to ride roughshod over the basic human rights of local people. Three years after Wiggins took operational control of Manston, local residents remain utterly ignorant of the likely environmental consequences of expansion.

Unlike Cliffe, the flight path into Manston does not cross a colony of grey herons, or a feeding ground for wading birds. It crosses the town of Ramsgate where 40,000 people suffer intolerable noise levels from aircraft using the airfield. It seems that these people count for nothing in the eyes of Mr. Bruce-Lockhart and his chums at County Hall. Presumably, far more votes are to be gained by courting favour with the green-welly brigade of Middle-England, who have recently discovered the environment, and now wish to purchase it. Perhaps the most important question is exactly when Mr. Bruce-Lockhart thinks he asked the people of Thanet whether they wanted London's fourth airport on their doorstep.

"Presumably, far more votes are to be gained by courting favour with the green-welly brigade of Middle-England" The quote clearly indicates that Manston has support. Further, it confirms my belief that both the Conservatives and Labour would gain support if they supported further developements at Manston.

http://www.m-a-g.fsnet.co.uk/press-r/cliffe_v_manston.htm


Summary/Highlights:

Dr Steve Ladyman, MP.

The Section 106 agreement won the support of Thanet Council at last weeks Policy Committee. It was supported by both the ruling Labour Group and the Concervative opposition.

"Reading my mailbag it is clear that opposition to the Section 106 is largely based on the misleading advice of the Manston Airport Group. Anyone who reads the old Section 52 agreement and the new Section 106 agreement with an open mind will see that the Section 52 gives no protection whatsoever against night flying or to the environment while the new 106 is a major step forward."

"The support of the Conservative Group is to be welcomed although it is sad they have used the issue for political gain recently. Frankly, that's the sort of hypocritical behaviour that brings politics into disrepute but, at least, they are doing the right thing now."

South Thanet MP, Steve Ladyman, has congratulated the Conservative Group on Thanet Council for backing the Section 106 agreement on Manston Airport.

"Not for the first time, and probably not for the last, MAG have let their prejudice against the airport get the better of them and have issued opinions that are just plain wrong. Now I want people to make their own minds up, so I will be sending a copy of the Section 52 agreement and the key parts of the new Section 106 agreement to everyone who has written to me so that they can see for themselves. I have also put my own detailed views and copies of the two agreements on my web site."

"The Council has to balance the views of the huge majority of Thanet residents who want the airport to have a chance to succeed"



http://www.advfn.com/cmn/fbb/thread.php3?id=2954878

Looks like they are writing off 200000. Cash in though.Desperation?

Wiggins Group the airport owner and property developer announced today that it
has sold The Cadbury House Country Club for 1.7m in cash. The book value of the
assets at 30th September 2002 was 1.9m and the profits are 0.1m per year. The
proceeds will provide working capital.



This is inline with Wiggins Group stated intention of selling its non-core
property assets.

Whats happening this morning. Over 4m traded already and a price rise to boot. Was there some news over the weekend?

There was a long interesting write up by EJ on Sunday .... made a good case for a speculative punt for high risk takers. I have been tracking these for a while and agree with his thinking ....

Not prepared to pay for the Monday morning mark up though ..... should have bought last week when I was alerted :-((


ains

Jeff,

Edmund Jackson wrote a positive post on Wiggins.(Citywire & Sunday Telegraph) Twice in the space of a week. He announced that he has bought for the long term recovery. Citing directoship buys. Most notabley Mackay. He seems confident that the mezzanaine debt will be resolved.

Are Wiggins selling there HQ?

The property is held on a 125 year lease from 29th September 1998 at
a 15% ground rent, the freeholder being the Grosvenor Estate.

Tenure:
The property is leased to the Wiggins Group PLC on a 25 year FRI
lease from 29th September 1998 at a commencing rental of 315,000
per annum subject to 5 yearly upward only rent reviews.

Tenancy:
We are instructed to seek offers in the region of 5.25M (Five Million
Two Hundred and Fifty Thousand Pounds). A purchase at this level
will show a net initial yield of 4.84% and a true equivalent yield of
6.83% taking purchasers costs at 5.75% and at an ERV of 57.50 per
sq ft overall (445,855 per annum).
The property is held by a Jersey registered SPV and on the same figures
assuming acquisition costs at 1.75% the initial yield rises to 5%
and the true equivalent yield is 7.10%.




http://www.godfreyvaughan.co.uk/html/investment/35_berkeley.pdf

Pile of dogs doo da, but then its always been the small punters favourite. Isn't this one tipped by Tom Wiinfrith some while back, another case of eating humble pie.

elrico

Given WGG balance sheet any prospective purchaser is likely to demand a yield of more than 15% reducing the sale price by two thirds

Desperate times

A small update re:Wiggins. Two planning applications have been submitted to Thanet District Council for new facilities on the Manston Business Park. One is for a frozen foods processing plant and the other for a cold foods plant with expansion possibilities into frozen foods.

The latter application from Invicta is quite clear in that it is to cater for foods imported through the airport in addition to local produce. Nineteen new jobs to be created.

The first application, Evron Produce, would create 31 new jobs in a 24Hr operation.

Clearly this would be a significant advance for Wiggins. The new Invicta plant is stated to be able to allow them to expand into imported foods so bringing more freight through the airport as well as providing income from the site rents.

Information sourced from documents posted to the Thanet District Council planning application web pages.

Mr Socs
I heard that they were going to build prefabs at Manston to house the influx of Asylum seekers into the area which is being actively enchouraged by Thanet DC.

Jeffmack
You're half right in that it was proposed to accomodate asylum seekers on the business park, however, read the report on the link below. I was going to say read the facts but since it's published by a Labour Party MP I can't in all honesty say that.

http://www.souththanetlp.freeserve.co.uk/asylum.htm

Are you talking about the Wiggins that has been suspended from market pending possible reverse takeover? Wasn't there some news about a contract with a middle east company? Horse Racing?

Angi
Yes, that's the one.

Socrates
Any news about it's return to the market?

Angi
No, nothing yet. It has been said that it would be by the end of September but I've seen no official statement to that effect.

Socrates

I've just seen the chart on 'digitallook', there's a straight line down to 0 and the volume today was 1,480,974. I can't get confirmation on any of the other webs I use (hemscott is out of use, temporarily I hope) nor does anything seem to have changed on my online dealing account with Schwab. The only piece of news dated today was with 3i, an article about Ryannair and Europe. Can't get into that either, forgotten my username/password.

Have you heard anything?

angi
No, there is no news as yet. A poster on advfn has been in touch with Wiggins and they have said they cannot make any statement whilst negotiations are in progress. They do not say with whom the negotiations are, nor do they give any forecast for completion. There is nothing to do but wait and watch.

There has been speculation, sparked by a baseless speculation by Edmond Jackson on Citywire, that the negotiations have failed. If the talks have failed he will be able to say what a clever boy he is, if they have not he will look a right idiot and will be sure to get some stick from Wiggins investors.

Thanks Socrates

A lttle information for those interested in Wiggins. Not content with pushing on with negotiating a reverse takeover, Wiggins have continued to pursue their Planestation concept by adding Melbourne (Florida USA) to their list. See link below which gives details of the airport operation:

http://www.azworldairports.com/airports/p2740mlb.htm

See also RNS which broke the news:


RNS Number:9093P
Wiggins Group Plc
18 September 2003



PRESS RELEASE

18 September 2003

Wiggins Group Plc
General Update

Wiggins Group plc is pleased to announce that it expects to be in a position to
post a Circular to Shareholders together with its 2003 Accounts during October,
at which time the suspension of trading in its ordinary shares will be lifted.

The Company is also pleased to announce we have executed contracts with the City
of Melbourne Airport Authority in Florida. Melbourne International Airport is a
commercial service airport located near Orlando, Florida. The Melbourne Airport
Authority has agreed to build a new International terminal at their expense and
have granted Wiggins operating licences for 35 years. The terminal will have
significant amount of concession space and the revenue from which will be shared
with the Airport Authority.

Melbourne selected PlaneStation because of its established airport network in
Europe and in particular because of the potential for new traffic between
Melbourne and PlaneStation's airports at London Manston in the UK and
BlackForest Lahr in Germany.

Melbourne Airport is within easy access to the major Orlando resorts, including
Disney World and Universal, Cape Canaveral/Kennedy Space Center and Port
Canaveral which is becoming the largest cruise port in the world. The airport
also serves the world famous beach resorts of Cocoa Beach and Vero Beach.

The Company has already commenced working with the Authority in Florida to
generate passenger traffic in both directions. There is also considerable
potential for cargo as nearby airports such as Miami and Atlanta are already
working to full capacity.

Within the agreement Wiggins has an option to lease surrounding land which will
be used for retail related property development.

Wiggins intends to replicate this form of agreement in other parts of the USA.


Further Enquires:

Isabel Crossley St Brides Media 020 7242 44 77



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

Just joined the site - from Spain-today and this is my first time on the
noticeboard.I had just got the above-18 Sept-from www.londonstockexchange.com.
I think it is exceptionally good news and I feel the company will rise to-
excuse the pun-unforeseen heights.This is especially so if these deals will
be replicated in other areas in U.S.A.Also,I feel the----retail related
property development presents an outstanding opportunity to use their
property skills.

I also think Edmond Jacksons position-re failed talks-is irrelevant as it
appears that The Bottom Line is they have worked out financial facilities
to support all their programmes.

Hopefully,some of you will comment on above as I am extremely interested
in reading more.