I am a trader as well as an investor and hopefully this thread will reflect both aspects ....

We should start by saying this is a highly speculative share and the market takes no prisoners.

Over the last 18 months I made lots twice in the early days - then lost it back - bought a million at 2.6p average - founded the TAG - bought another half a million or so at sub 1p - sold most at average 4.25 - bought back at 2.2p and less - sold most at 3.5p and now buying back - overall a good net profit at this time.

I think the d4e will happen (say 90% chance) and the 3% currently talked about will give or should give a price equating to say 3/5p. Longer term on succcess of d4e and progress in the sales market the shares should move to around 10p - assumming markets are not in freefall.

I am looking to buy at any time and hoping for a war generated dip - when I do I will let you know.

The TAG site is a great place for catching up on the TWT news and I will post here as well.

Currently trading on TWT is light (1.7 million traded) and the price is down a littlw with a wide spread (2.01/2.35p). This is a sets share and you must expect a crtain amount of manipulation in these troubled times - FTSE down over 4% intraday

I have a core holding of at least half a million shares and intend to be a long term investor at this time.


ainsoph


http://www.investoraction.co.uk - currently we have 804 registered members holding around 100 million shares in total

All quite on this site ...

ainsop,

Any thoughts on the volume today ?.

It looks like from the recent press reports (which no longer seem to be posted onto this site) that the Bondholders are being even more greedy and demanding more equity in return for agreeing to the D4E swap. You would have thought that it would be in their interests to ensure a deal is signed quickly. No doubt the shares will fall further tomorrow!

Sorry wrong thread.

This approach to dealmaking signals not that the bondholders do not want to give shareholders 3%, but that they want something else; eg board seats etc. It could well be just a brinkmanship effort to secure something a minority of bondholders have been told they cannot have. Leaving it to the last minute does not feel like an issue with the D4E terms, although that is how it is being flagged.

jeez and fall they did, glad I bailed at just over 2.0p last week

old news I know but the bit at the bottom is of interest. I've tried investoraction.co.uk today but no response.

1,000 jobs under threat at Telewest

John Cassy
Thursday September 5, 2002
The Guardian

A further 1,000 staff could lose their jobs at Telewest by the end of next year as the debt-laden cable group seeks new ways to cut costs.

Executives expect the jobs to be shed gradually over the next 12-15 months as Telewest undergoes a financial restructuring and looks at ways to build a more sustainable business.

Earlier this year Telewest announced plans to shed 1,500 of its 10,500 employees and by the end of next year staff num bers are expected to stabilise at about 8,000.

Annual capital expenditure is also expected to fall from current levels of about 500m to 300m-350m.

A spokeswoman for Telewest insisted that there was no announcement of significant job cuts planned but sources inside the company said the headcount would be reduced over the next year.

Telewest employs staff in cities including Edinburgh, Liverpool, Birmingham, Leeds, Bristol, Plymouth, and London.

The financial restructuring moved a step closer yesterday when shareholders gave approval to plans to dispose of Telewest's 16.9% stake in SMG, the Scottish media company which also owns Virgin Radio. Schroders, the investment bank, is attempting to sell the shares for Telewestand is thought to have approached the ITV companies, Carlton and Granada.

Analysts believe it is more likely that the shares will be placed with institutions.

Talks are expected to start shortly with bondholders about a debt for equity swap which will leave shareholders owning a tiny fraction of the company.

In return for wiping the bulk of Telewest's 5.3bn debt, bondholders will be handed control of the company.

Small shareholders are rallying through internet action groups to push their case. The Telewest Action Group, which has a forum at www.investoraction.co.uk, wants to make sure Telewest shareholders get more than the 0.5% Marconi gave to equity investors in its recent restructuring.

Who runs TAG now then snap?, PAULISMYNAME pulled out I think.

I thnk the bondholders had the better of them.

Paulishisname has thrown in the towel and sold his remaining shares according to todays traders thread.

ohoh, sounds like the right move to me snap

Yes, I have, and hold no position now. The same applies I believe to Wordy another ex TAG committee member. A 3% equity deal would have given us a chance to emerge with a stake worth selling in 5/10 years time, however if it gets down to one percent/half of one percent that means in simple terms either 3 or 6 times less than today........

Simple risk management indicated it would be best to find another penny share for this small (now) segregated part of my overal capital. I had almost written it off anyway and am no longer worried about it but I do not deny it has been the worst investment of a lifetime.

But we live and learn.....at least I have gained enough trading knowedge not to ignore the coded signs

Puts the thread header into perspective then.

er lol I think is the perfect finale to that little scam .

Wow, this thing is really banjaxed now.

investoraction.co.uk (TAG) was brought down by hacker activity.
Unfortunately, the website author had not made backups. As such it was impossible to restore it.
He has since sold off his holding & is no longer interested in TWT.
Pity, as a strong TAG may have had some effect on the Boards' actions.

There must still be some TWT shareholders out there, (who are not also bondholders!) who will be unhappy with 1% (if that is the figure) when they believed that the Board and the Bondholders had agreed to 3% back in Sept 2002. All these late demands by the bondholders must surely be counter- productive - as it will add further delays to an already lengthy D4E process and meanwhile TWT will lose further customers (myself included if shareholders do not get the 3%!). You would have thought that the bondholders best course of action would be to conclude the D4E as quickly as possible, get TWT back in the FTSE 100 and allow the business to move forward towards a merger with NTL. This would be the best chance of the bondholders realising a return from their investment, some of whom will no doubt make a massive profit having bought bonds at distressed prices.

Instead, the bondholders seem to be worrying about the pennies to them, but this is rather pointless if the business is worth less for the reasons said above. No doubt the professional advisors - the lawyers - will gain from the delays.

The AGM is tomorrow - and I have no confidence on what the Board might say.

All resolutions were passed by shareholders ( The chairmans proxy votes) despite protest votes and a certain amount of ill will from attending shareholders. This stock has certainly turned into the worst investment I ever made and now that it looks like the 3% remaining equity (re debt for equity swap) is under threat, it would take a miracle to restore any fair value to the shares I held.

Fortunately I can afford my losses and due to some unique circumstances connected with the purchases, I have lost no real cash out of the bank.

However there are many people, estimated at around 45,000 private shareholders, who have lost staggering sums of money. I know of one person who may loose his house for example.

So the lesson to be learned is that of a stop loss. In my case I suspended my usual rules (25% give or take on a longer term investment) because I was told Bill Gates and Dr Malone, two of the richest men in the world, were "fully supportive" of Telewest and its position when it first started to fall. So the lesson to learn is this...never suspend your stop loss rules regardless of what you are told or even promised, in 99% of all situations it will save you money and as for the 1% where it might not...well I can live with that.

15% is my stop loss and I will ALWAYS impliment after taking a tremendous hit in Baltimore (BLM) . Averaging down is not an exercise to follow.

madbidder the percentages depend on your timeframe and the amount of money involved, but in general you are right

can't help feeling that owning this share is like p*ssing in the wind.

Got quite excited as this was amongst the top gainers and then realised it was only the spread widening.