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.

From todays Telegraph,
Airports operator Planestation was another focus point yesterday.
Market chatter said that chairman Richard Bernays and non-executive director Lady Delves Broughton may step down from the airports group.
Planestation is also thought to be considering a voluntary redundancy programme and may move out of its Berkeley Square offices in Mayfair. A spokesman for Planestation declined to comment. The shares were unchanged at 4.5p
C/O
http://www.telegraph.co.uk/money/main.jhtml?xml=%2Fmoney%2F2004%2F03%2F25%2Fcxmktrep25.xml

I dont think that the change of Chairman is anything to be overly concerned about. The current Chairman stated his intention to leave in the refinancing document:-

it is now appropriate that I hand over to a new Chairman
who will be able to guide the growth of the PlaneStation project.

Perhaps the new CEO also feels that,
1. Maintaining the HQ in Mayfair is unnecessary and that there are cheaper alternatives.
2. Voluntary redundancies will reduce overheads.

These are the type of cost cutting measures I would have expected from the new CEO and is perhaps exactly why HE was appointed.

Extract from offer document:-
Following the successful refinancing of the Group, which was my primary mission when I was appointed
Chairman of the Company just over a year ago, it is now appropriate that I hand over to a new Chairman
who will be able to guide the growth of the PlaneStation project. I therefore propose to stand down as
Chairman as soon as a suitable replacement has been identified. It would then of course be appropriate for
the Board, under the new Chairman, to consider other appointments that would further strengthen the
Board.

PTG may be close to appointing a new Chairman with the relevant experience.
Good luck
Ed

i have held on to these shares for over 5 years and i am giving up slowley on this company ,one minute the good news and then the bad . i live locally and am getting fed up ????????????????might be selling soon enough!!!!!!

A small upward move today, anything north is in the right direction.

A relative living near Manston tells me the Border Inspection Post construction is moving apace, the faster the better.

Some good news and a small move north

G12 :))

News today that Evil Knieivel has sold his stake in PTG. That accounts for a lump of the sales.

Mr May has started his cost cutting high up - Richard Bernays has left as Chairman with immediate effect.

Planestation Group PLC
01 April 2004



PlaneStation Group plc ('the Company' or 'PlaneStation'), the airport owner/
operator and property company, announced on 18 March 2004 that Martin K May had
been appointed CEO. The announcement made clear that Mr May would implement a
strategy for the long term benefit of all shareholders. The Company in keeping
with this strategy today makes the following announcement.



Board Changes

Richard Bernays, Chairman, announced in the Listing Particulars issued on 10
December 2003 that, following the refinancing of the business, he would stand
down as Chairman. Richard has today informed the Board of his intention to step
down with immediate effect. The Board is grateful to him for his help and
guidance, especially for his efforts in the successful refinancing of the Group
earlier this year.



The Board also announces today that Lady Rona Delves Broughton, Non-Executive
Director, has given notice of her intention to step down at the next Annual
General Meeting. The Board would like to thank her for her valuable
contribution, commitment and support over the last three years.



John Mackay, who joined the Group in January 2003 as Non-Executive Director, is
to assume the role of Non Executive Chairman. John has previously held senior
positions at Merrill Lynch, HSBC and Seymour Pierce.



The Group

As outlined in the Listing Particulars issued in December 2003, the Group is
implementing its plans to effect cost savings and reduce operating overheads.
Furthermore, head office costs will be reduced by at least one-third by the end
of June 2004. The Board plans to bring the business into a cash neutral
position. Key to this plan will be relocation of the Head Office from Berkeley
Square and headcount reductions across all areas of the business.



PlaneStation's CEO Martin May said: 'These actions are designed to create a more
effective organisation with shorter lines of communication and a value driven
decision making process for the benefit of all shareholders.'

Whilst we await the details of flights that EUJet are due to announce during April the following may be a good indication of a least 1 of the destinations.


EU Jet (EUJ)
Is showing interest in launching a five times weekly (Monday-Friday) Manston-Geneva service with Fokker 100 equipment. According to the airline's request, EU Jet would operate the flight starting on June 14th at times 1750-1830. Separately, the airline's three letters code has been changed from EUY to EUJ with effect March 1st.
http://dptsassociation.homestead.com/news.html

Good luck to all
Ed

Its all window dressing ready for a sale. My guess would be at about 4p a share.

2 Big Buys late in the day

Total Buy 5,711,986

Total Sell 2,251,837

71% Buys

Up until 4pm it was 80% sells then there was a 2 Million Buy & a 2.7 Million Buy.

Quite encouraging.

The 2m is slap bang in the middle of the buy/sell. As the price went down you have to assume it was a sell.

jeffmack

Youcan't assume that because it was about 5 hours since the last price change so it could he either.

Mustn't assume anything about PTG. Posters on other boards are constantly reporting their buys being reported as sells. You still in Jeffmack?

Good morning Folks

A stock exchange on RNS !!

Planestation Group PLC
01 April 2004



PlaneStation Group plc ('the Company' or 'PlaneStation'), the airport owner/
operator and property company, announced on 18 March 2004 that Martin K May had
been appointed CEO. The announcement made clear that Mr May would implement a
strategy for the long term benefit of all shareholders. The Company in keeping
with this strategy today makes the following announcement.



Board Changes

Richard Bernays, Chairman, announced in the Listing Particulars issued on 10
December 2003 that, following the refinancing of the business, he would stand
down as Chairman. Richard has today informed the Board of his intention to step
down with immediate effect. The Board is grateful to him for his help and
guidance, especially for his efforts in the successful refinancing of the Group
earlier this year.



The Board also announces today that Lady Rona Delves Broughton, Non-Executive
Director, has given notice of her intention to step down at the next Annual
General Meeting. The Board would like to thank her for her valuable
contribution, commitment and support over the last three years.



John Mackay, who joined the Group in January 2003 as Non-Executive Director, is
to assume the role of Non Executive Chairman. John has previously held senior
positions at Merrill Lynch, HSBC and Seymour Pierce.



The Group

As outlined in the Listing Particulars issued in December 2003, the Group is
implementing its plans to effect cost savings and reduce operating overheads.
Furthermore, head office costs will be reduced by at least one-third by the end
of June 2004. The Board plans to bring the business into a cash neutral
position. Key to this plan will be relocation of the Head Office from Berkeley
Square and headcount reductions across all areas of the business.



PlaneStation's CEO Martin May said: 'These actions are designed to create a more
effective organisation with shorter lines of communication and a value driven
decision making process for the benefit of all shareholders.'





Further enquiries:

Hugo de Salis St. Brides Media
Tel. 020 7242 4477

Christopher Foster PlaneStation
Tel. 020 7495 8686

Good news??we shall see...

G12

Good start to the day .. As we finished yesterday lots of buys. perhaps we may start to see a recovery . 10p would be nice

G12 :))

London Heathrow was once a simple airstrip.
But so was London Gatwick (as i remember from when i first joined the army - 1 terminal & few facilities)
Now let me think where is Stansted?
And poor old London City Airport ?
Having lived next door to Glasgow Airport (Paisley) - My school sports playing field was next door - I have seen it grow and expand to the international airport it now is.
I do not claim to know the profit or loss accounts of Glasgow airport in its early years, all I know is that when I visit my parents in Scotland I see a large airport on their doorstep which is ideal for flying home to Scotland.
Now lets suppose that someone like me wants to fly HOME to England from distant places, the local Airport would be the ideal choice would it not?.
There is increasing demand for air travel as agreed by the Government white paper.
Are there any regional airports that have reported a decline in usage?
The big players LHR, LGW etc can only cope with so many travellers/freight. The overspill will naturally lean to regional airports.
Easyjet and Ryanair (amongst others) have proven that the low cost model can and does work (despite the words of doubters). Look at Coventry - making it work without a properly permited terminal.

Grass roots say - its a new re=financed model.

The institutions backed Planestaion at 4p.

Current shareprice is a little above this.
There are detractors - those who dont want an operational airport on their doorstep!
But there is potential for growth in passenger and freight traffic.
passenger traffic increase is most likely to be seen in the short term on April 16 (i think) when EU Jet announce their 29 routes.

Cargo figures have been growing throughout the year, the new Border Inspection Post could see even greater increases in fresh produce imports by air through the airport.

The recent changes to board of the company can in my opinion only strengthen the board.

The outgoing Chairman had stated his intention to leave so his leaving is no surprise - the new Chairman (selected from the current Board) Has greater understanding of the company and its vision than any newcomer could have.

(I know little of the other (Lady) leaving the Board - and would not wish to comment on a person other than that she is quoted as being a LLoyds 'name', and would wish her every good fortune and thank her for her contribution to Planestaion.

On a cautious note,
There is current speculation in the press regarding the passenger licence at Lahr (another Planestation Airport).

Some have stated that the passenger licence has been denied at Lahr.
I dont know for certain if this is true - if it is - Then Planestation does have legal avenues on which they can appeal through the EU.
(Remember the case with Ryanair where Ryanair were receiving unfair subsidies?)
Then converse avenues exist for Planestaion to appeal against competeing airports for (unrestricted) passenger traffic.
(Lahr has and can currently handle charter and diverted passenger traffic) So i dont see this airport as a 'lost cause' in any way.

In summary,
There are many users of this board who would state Planestation as a 'lost cause' 'near bankrupt' 'no hope situation' 'with share price falling to 1p'

But.

Facts are.

City Institutions backed the re-financing of the group at 4p.
There is potential to realise value from vast non airport assets
(I will not quote figures)

National press speculation did quote a buyout figure of 10p per share -Nothing more has been heard of this roumoured buyout since the appointment of Mr May.!! (Does this mean that the real value is a great deal more)_???

EU jet announced that they would use manston as their hub for low cost flights. with at least 29 destinations.

Cosmos has not denied any link to Manston????

Florida flights are perhaps a real possibility in the near future???

My glasses may be rose tinted - I may be looking at half full rather than half empty, for the future of manston and TDC I hope i am right in backing PTG.

(and yes i do hold shares in the company as do the membership of the shareclub of which I am chairman)

DYOR and good luck - before you invest in planestation be sure you want to invest your cash here and do not rely on my vievs.

If you dont like the company, im not interested in your view - dont bother to respond to my post - to do so will reinforce my point on distractors and i will ignore you and your ilk as i allways do. I have done my research and im more than happy with my investment

Good luck to all,
Ed

good call Ed. I hold and intend to keep for some time yet.

Ousted boss to swoop for PlaneStation
Andrew Leach, Mail on Sunday 4 April 2004
OLIVER Iny, ousted chief executive of PlaneStation, may launch a bid for the airports and property company. In a letter to a PlaneStation shareholder action group, which has called for his reinstatement, Iny suggests he could make a takeover offer.
He said he was considering his options*, including a takeover and calling an extraordinary general meeting to be installed as PlaneStation chairman, either as a figurehead or in charge of corporate development.
He added: 'I anticipate announcing my plans in connection with PlaneStation at the end of this month.'
Iny was the architect of the group's strategy to develop small regional airports with its flagship Manston Airport in Kent, which recently won its first big customer, low-cost airline EUjet.
He founded the company, previously Wiggins Group, and though he owns less than 1% of the shares, his family trusts own almost 6%.
Iny was forced out of the company last month, weeks after shareholders, including Prudential, backed a 46m refinancing. Prudential, which has a 14% stake in PlaneStation, and two Swiss-based investment funds led the revolt and were instrumental in replacing Iny with corporate recovery specialist Martin May.
It is thought they were concerned about the slow progress of asset sales at PlaneStation, which were designed to strengthen its balance sheet.
But some of PlaneStation's 44,000 small investors believe that Prudential is planning to break up the company, which could realise an estimated 10p a share - much more than Prudential originally paid.
Though shares closed last week at 4.53p, valuing the group at 96m, they dropped to 2.45p last year, having been as high as 45.74p in 2000.
Stephen Lock, for the shareholder action group www. PSsilentmajority.org, said his members, many of whom had bought at prices much higher than today's share price, feared a break-up would leave them out of pocket.
The action group is trying to secure support from enough shareholders to call its own extraordinary meeting to reinstate Iny and block any break up moves.

Intriguing to say the least. Good Luck
Ed

Eddie

another interesting post and there has certainly been a reaction on the market today - my only question regarding Iny would be as to why his trust recently sold 22m shares if he is planning something. Also is Robert Ware just sitting watching quietly or are we likely to see him enter the fray (as per the original rumours prior to Inys removal). There are now plenty of potential upside factors to this share and the next few months could be quite interesting - good luck to all who hold.