Watch out for this one floating in the next few days, it could turn out to be the float of the year. Theres not much available on the company yet but I have found the write up below which shows the fantastic potential of this one. Note just how cheap it is.

New Issue: here's one that's more than hot air

Published: 12:45 Monday 27 February 2006
By Cliff Feltham, Companies Correspondent

Owners of thousands of buildings in the UK are facing massive bills over the next few years to comply with new energy standards, which is good news for new AIM entrant Worthington Nicholls.

Air conditioning and ventilation units using ozone depletive gases have to be replaced by systems using more environmentally friendly gases.

The measures are creating a windfall for air conditioning installation companies like Manchester-based Worthington Nicholls which is to float on AIM with a price tag close to 35 million.

The firm, which has been around since the early 1970s, needs extra working capital to cope with the influx of orders which will see this year's turnover climb from 11.7 million to nearly 30 million.

The flotation, sponsored by broker Corporate Synergy, will also allow founder chairman Peter Worthington, who is nearing his 70th birthday, to sell shares worth around 7 million.

After years of steady progress, the firm has seen a huge jump in work triggered by new energy efficient legislation flowing from the Kyoto Agreement.

The deadline for owners of buildings to replace air conditioning, heating, ventilation and chilled water systems using banned gases is the end of 2009.

Chief executive Mark Worthington, son of John, believes there are at least 9,000 buildings in the UK which will have to comply with the new regulations. But the figure could be much higher. ' We are talking billions of pounds here,' he says.

Worthington Nicholls has concentrated on servicing hotel and retail clients which include Hilton, Holiday Inns, Debenhams, Arcadia and Boots.

A new, energy compliant air conditioning plant in a high street store can cost anywhere between 80,000 and 120,000. Re-fitting a Debenhams branch cost 670,000 while hotels can expect to pay around 3,500 a room for a new air conditioning unit.

Worthington Nicholls offers a complete service, designing the system, managing installation and providing regular maintenance. At present income from maintenance contracts is running at around 20% of total sales but that is expected to rise.

The flotation, which is raising a total of 15 million, will also provide a warchest for acquisitions. Two deals have already been lined up with will add another 20 million a year to turnover.

Mark Worthington says there is huge scope for acquisitions. The company claims to be market leader yet it only has a 3% share suggesting plenty of room for consolidation.

The company is making some confident assumptions about future growth. Profits are expected to rise from 3.7 million last year to 8.6 million in the current year to September. By 2008 it is projecting earnings of 12.6 million on sales of 45 million but this does not take into account any contribution from future acquisitions.

Says Worthington: 'Stringent environmental legislation has changed our business. Now the large international hotel and restaurant groups prefer to deal with a single supplier. We believe there is huge scope for expanding not just in the UK but across Europe.'

Price of the shares being placed will be fixed over the new few weeks following investor presentations with dealings due to start in about a month's time.

Please DYOR and do not use money on shares you cannot afford to lose.

cheers GF.

Don't tell the tax man GF .. :-) All that selling today and it still goes up,

Speculation across the road news is around the corner.

Good news, bad news...........?

im 10p off a double bagger - but really guys - whats going on???...we all the know the fundies, but recent growth is without real foundation imho...we're all spreading the happy word but on relatively low trading volumes....more sells than buys in last day or so.......???????.....news???????........anyone out there have anything substantial????...im closer than most and i know nothing....sorry...?????????????

regards to all

AM

I think someone knows of an imminent bolt on.

Looks like the MMs either know of it or are playing a tactical game trying to fill a large order.

The 150p landmark will bring out a few sellers taking profits I think earlier on.

Enter name Worthington Nicholls in searchbox to see which funds now have a stake. Click each fund to see if company is among their top ten holdings.

http://www.trustnet.co.uk/general/search.asp?

Holding around the 150p mark , may now move on again .

Fingers crossed fliper.

mmm....movement maybe chaps. Not much blue about but the price has just ticked up on my screen. Couple of protected trades, and a couple of sells. Maybe a buy order in place. This is an important price level for this share, watch closely.

AM

SOMETHING DEFINATELY GOING ON.

750k shares sold and price holds firm - 25ok protected sales - share sale times held back and hour....mmmmmmmmmmmmmmmm.

Could be good news imho

AM

someones soaking it up

450k more sells in last 5 mins @ 1.50 - agreed purchase of 1M ???? poss, and at what price.

According to Digital Look, Panmure Gordon have initiated coverage today with a Buy rating and a target price of 172p.

GOT IT thanks sg.

Will post below.

"Worthington Nicholls initiated with "buy"

Wednesday, February 14, 2007 5:49:50 AM ET
Panmure Gordon & Co

LONDON, February 14 (newratings.com) - Analyst Oliver Wynne-James of Panmure Gordon initiates coverage of Worthington Nicholls Group (ticker: W3L) with a "buy" rating. The target price is set to 173p.

In a research note published this morning, the analyst mentions that helped by regulation, raised demand for comfort cooling, and acquisitions, the companys HVAC business is poised for a long-running growth phase. Worthington Nicholls air conditioning installation business is being boosted by the adoption of air conditioning in hotel rooms, the analyst says. Based on the potential for making acquisitions and superior growth prospects, there is upside to the companys share price, Panmure Gordon adds."

Edit: Ah, beat me to it!

And one of its biggest volume days since floatation.

Ive taken profits on a few tranches today to make sure a profit is locked in. (a 2 bagger profit is too good to miss). I still hold.

Still think the company will be at a higher SP level 6 months down the track, and am waiting patiently for bolt ons.

Tipped in Saturdays Daily Mail.

Yes, this certainly is flavour of the day with the tipsters so far. Still holding k2.5, not a lot I know and I wish I had taken more at the outset, took profits on 500 recently to top up in SUN which I have a good feeling about. I will not be tempted to sell any more WNG however!

Glad your doing well out of this one Kim.

I also see this weekend that a new Broker? as backed this one, so monday could be a very interesting day.