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.

Oliver Iny has bought 1,000,000 shares @ 4.8
rgds aj

Well that says a lot doesn't it, sacked as CEO one week, and then he buys 48,000 shares in the company!

Disturbing/interesting piece from edmond Jackson of Sunday Telegraph:


Dismayed by events at Planestation

Planestation confirmed the appointment of a new chief executive on Thursday and the shares edged lower at 4.83p. I am dismayed at how events are unfolding but continue to hold the shares.

I decide to check on Martin May at www.changedriver.com and found the new boss's title and experience listed as "company doctor". His strengths include "delivering value to stakeholders through existing teams within agreed timescales".

I winced when I read that latter bit, especially as company doctors are generally not long-term company builders. So I see in this appointment an intensified risk of a medium-term break-up that cedes potential.

Once again, PlaneStation's announcement last week did not affirm the development strategy on which investors (including me) had subscribed for shares at 4p last December. May is to conduct a strategic review and then "implement a strategy for the benefit of shareholders".

The key issue I continue to hear (now from the professionals as well as private investors) is that actions must be for the benefit of all shareholders, not just Prudential. Some fund managers are fed up with the way power is being exercised. "The Pru is in danger of playing God when it only owns 15 per cent," one said.

Let us not pre-judge May. It is possible that with an initial nine-month appointment he will do an effective job and hand over to a good long-term chief executive. The Pru may continue to back PlaneStation's financial requirements and see its actions vindicated - with a share price anywhere from 20p to 50p in five years' time.

At the moment, however, I doubt the likely strategy will turn this hope into reality.

Personally I have never been impressed with Edmund Jackson's comments, they tend to be very 'airy fairy'. There's a lot going on behind the scenes with this share, and Jackson seems as clueless as the rest of the shareholders about what it is. He says he is " dismayed at how events are unfolding but continues to hold the shares". That's obviously not a 'sell' recommendation, is it a 'hold' - or perhaps it could be a 'buy'. Also I'm not too impressed with the research Jackson has done on May's track record.

It is quite clear that Manston and Planestation are now moving forward with some speed. Manston is actively recruiting for firefighters, security officers, airport operations officers, and check-in agents. The BIP is well advanced in construction and changing the Manston skyline.


There have been aircraft at Manston not before seen there.

A visit to the Manston Travelstation website shows that additional holidays flying from Manston are being offered, the latest being 10 nights in Malta at prices between 259 and 469 depending upon the hotel rating. Out of season admittedly but not bad prices and I would be very surprised if they cannot fill at least one aircraft.

Before too long EUjet operations should commence from Manston soon and added to that yet another improved set of freight figures are posted on the Planestation website. However, I'm not going overboard about the February figures because this year was a 29 day February whereas the previous ones have been only 28 days.

The overall effect, at least as far as Manston is concerned, is that Planestation is pressing on with the business in hand, that is increasing their offering and making money. Every 'bum on a seat', every pound of freight means more revenue and that's what counts.

Whatever the Pru and cohorts have in mind, they cannot discount Oliver Iny who is the second largest shareholder. His personal holding and his Harlequin Trust together account for around 8% of PTG. I expect some interesting moves over the next few weeks.

Maybe Iny will try to take them private if he can get some backing

Jeffmack
It has been discussed before as a possibility. In the present scenario I think it must be an option he's considering. Problem is, at what price?

Can't believe this share is sliding again?

a T trade for 88m at 4.36p may be the explanation - nice to know who is selling - assuming it is a sell?

88m trades is approx 8% of the company (money am has 1200m shares on its research page). If it is a sell it looks remarkably like the amount of shares that Iny holds in trust. The only shareholder with a higher holding is the Pru.

If Iny is selling the shares in trust why did he personally buy 1m shares on friday? The pru surely can't be selling having just instigated the ousting of Iny! This doesnt make sense -can anyone help me???

Also, surely we should have had an RNS!

another 70m trade gone thru at 4.35p - RNS please!!!!!!!!

Trades this big are normally displayed at end of trading 4.30ish i find it odd that the share price hasnt dived with these sells but hope that they were sold to an arranged buyer witch will show at end of the day i hope

Fo every buyer there is a seller, dont get hung up about buys and sells. WHO is buying and selling is the important thing.

It appears the number of shares in circulation is 2.16bn (moneyam research info is out of date). Hence both the first two trades are above 3% and total 7.3% and the last trade is for 2.99%. We should hence see an RNS for at least the first two. It would be nice to know what is going on as it appears over 10% of the company has been sold. Who by and who is buying it?

Some serious shit going on today

with so much selling going on does this mean the is trouble ahead or is there going to be a take over bid? any views?

Rothschild declared as advisors on expansion funding to EUJet and buy PTG shares.

Extract from the RNS announcing the EUJet/Manston deal:-

EUjet has appointed Rothschild as financial advisor and are in the process of raising additional capital to allow the company to expand over the next three years. It is expected that the route selection process will be complete by 14th April 2004 and that the first flight will take place on 14th June 2004.

The Telegrahph reports a Rothschild fund as buying PTG shares:-

Volumes in airport operator Planestation reached 304.5m as traders said RAB Capital had sold its 88m shares to a Rothschild fund. Planestation shed 0.15 to 4.67p

C/O
(http://www.telegraph.co.uk/money/main.jhtml?xml=%2Fmoney%2F2004%2F03%2F23%2Fcxmktrep23.xml).

Perhaps this is further endorsement by Rothschild that they foresee a long term relationship between EUJet and PTG. This is my view of this linking.
Good luck,
Ed

Well, I must agree with you Ed, Rothschilds do not buy into losers. This company however has me totally bamboozled, seems to have everything going for it but time and again just when everything looks promising-share price gets kicked down-again.Purchases should carry a government health warning !!

Jim

...........and still the selling goes on.It makes no sense at all!

Hi all,

I sold my shares last week and have,at present,no further interest in the company.However,St.Brides - their media company - e.mailed me today with
detailed information on Martin May.You can access this info by e.mailing
St Brides info@sbmf.co.uk.I am passing on this information in case you are
interested.
rgds aj