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.

Surely one of the more appealing points about Fairlop for a racing location is that it is on the tube network, 45 minutes from Victoria. Must be great plus to be only 500 metres from the nearest station.

Anyone got a copy of yesterdays racing post. Headline - opponents of london city racecourse ready to fight revised plans. Registration site can't get full story.

My understanding of the London City Racecourse is that it will be like a Greyhound track, with its own stables and attached horses. That means that you get the same low class horses running week after week, which is not attractive to the average punter.

I can see any attendances during the non summer months as being dire, especially given the reduction in covered areas in the new plan.

Hotrott

i have access but the article does not appear to be there currently - i will look again later.

The last related article was:

Change of plan for London City track

Published: 27/06/2004 (Features)
THE long-running saga of London City racecourse has taken a new turn after the developers, PlaneStation, submitted a revised planning application to Redbridge Borough Council, the local
authority and landlord of the 345-acre site at Fairlop Waters that rejected the original proposal, writes Graham Green.
The company is expected to make an announcement to the Stock Exchange tomorrow, but while the international-calibre all-weather track is expected to remain intact under the new scheme, the 10,000-seater grandstand, the chief bone of contention, is thought to have been replaced by a much smaller structure.
This should slash the project's cost from pounds 100m to between pounds 40m and pounds 50m and, PlaneStation hopes, placate local residents, who campaigned against the racecourse first time around.

Hotrott

I must be going mad - here is the article

Opponents ready to fight London City racecourse


by Graham Green



OPPONENTS of the proposed London City racecourse have wasted no time mobilising their forces after learning that developers have submitted a revised planning application to Redbridge Borough Council, the local authority and landlord of the 345-acre site at Fairlop Waters that rejected the original proposal.

Buoyed by the success of their earlier protests against the project, two local residents groups, the Aldborough Hatch Defence Association and Barkingside 21, are already pledged to rejoin the battle under the banner of the newly formed Fairlop Plain Protection Committee.

Ron Jeffries, chairman of the Aldborough Hatch Defence Association, said: We fought the first proposals individually. This time we have joined forces to protect the green beltof Fairlop Plain from this unwanted and totally devastating application.

We will fight on environment and visibility grounds. Our views on the desecration of the green belt are well-known. We will continue to present the views of residents that the openness of Fairlop Plain must be protected.

Jeffries added: We call upon Redbridge Council to throw out this ill-conceived scheme at the first opportunity and to get down to some serious discussion on the future of Fairlop Waters that will benefit the whole community. Councillors were 100 per cent against the first proposals. We expect them to fight this new application every inch of the way.

The speed off the blocks of protestors suggests hopes by developer PlaneStation, formerly known as Wiggins, that replacing the 10,000 seater grandstand of the previous plan, with a smaller structure, would address the concerns of the majority of critics, could prove wildly optimistic.

With Redbridge Council in a state of political flux after the Tory administration was replaced by a Lib-Dem coalition which itself has an uncertain future, a decision on the racecourse plan will not be fast-tracked as could be expected in normal circumstances.

It is even suggested councillors will have to wait until September at the earliest before getting an opportunity to debate the new plans.

Also, this i have nicked from another board courtesy of rutbuster1

by Peter Barnett

THE first flight bound for Verona in Italy from Kent International Airport at Manston was a high-flying success.

The charter flight organised by Headline Travel, the Kent Messenger Group's own reader holiday service and Newmarket Promotions, attracted 145 passengers with many more turned away.

It is so popular that the second Italian charter scheduled for September is already full.

The group that flew out on June 27 had booked holidays in Lake Garda, Tuscany and Lido di Jesolo.

They enjoyed a taste of things to come when they enjoyed an Italian-themed reception with wine, snacks and tea and coffee courtesy of Headline Travel and Morelli's catering before setting off.

The airport has recently been re-vamped and now has an air-conditioned departure lounge with comfortable seating and a tax-free shop. There will also be a fully licensed restaurant and snack bar opened by September.

Phil O'Sullivan, commercial director for Newmarket, and Karen Knott, Headline Travel business manager were overwhelmed by the enthusiasm shown on the day for services out of Manston and hope that it is the first of many successful charters.

Passengers told the operators they were impressed with the level of service at the airport, the facilities, and how convenient it is to fly from east Kent.

* For the remainder this year, Headline Travel and Newmarket Air Holidays can offer readers a trip to Vienna's Christmas markets on December 17 for four days from 369, and Prague on October 16, for four days from 229.

In 2005 there are departures for Malta for three weeks on January 4 with prices from 299, and again for one week on March 8 from 249 and on the March 12 from 259.

The Island of Sicily tour departs on April 9 for a week from 439 and the 2005 charter for Verona is on May 15, once again providing holidays for Lido di Jesolo, Lake Garda and the Seven Cities of Italy with prices from 399 for a week.

Thanks Fundamentalist

Whenever something new hits peoples doorsteps locals always complain but normally councils have their own way if they want it a strong case will be needed for the plans to be refused.

hotrott

Yes, the lure of a vast non-domestic rate for a racrecourse is a powerful driver for approval.

Fairlop Waters is a distraction, I'm sure that PTG will offload it eventually.

Even if they give it away, it's not that important compared to Manston.

Anything that they get for it is a bonus & they could get quite a lot.

It was interesting to discover, that when I searched for low cost airlines that Eujet came up on the first page (alphabetical listings) and that a direct link is provided.

http://www.directory.co.uk/Airlines_Low_Cost.htm
Eujet- low air fares
over 20 destinations from Kent for as little as 7 plus tax
Sponsored by: http://www.eujet.com/

Good luck
Eddie

apple,
I`m with you on this. I do believe it will be sold once they have planning approvals sorted, even if those that buy it are looking to change usage to a more profitable developement

does anyone know if the planning was given the go ahead????

Nothing heard about the Liverpool site disposal. Statement promised in June from PTG.
Has it all gone top secret. "Not for shareholder information"

Expect that we will hear something with the results

Well results are out. Just had an initial read and nothing too surprising imo. Will post thoughts once fully digested

Results highlights:

Pre tax loss of 17m (12.8m last year)
51m raised during year via share placings
Manston cargo volumes up 31%
Board restructuring as previously announced
"Formal steps are being taken to remove Mr Iny and Mr Lansbury from the board"
Asset write downs relating to Fairlop and other smaller properties
Net interest reduced and to be greatly more so this yr
Costs cut by 46% (including rent)
Director salaries reduced by 49%

strategy appears to be to focus on the core airports and core properties (with implication that the properties will be disposed of over time)


Quotes:
From Johm Mackay (chairman)
The management team is aggressively implementing a programme of business development, at Manston in particular, and of non-core asset realisation. These, taken together will, I believe, form a strong basis for our Company's future development.

The scale and complexity of the Group's assets may necessitate inviting other
parties to consider joint ventures or partnerships. We will advise shareholders
of progress as and when developments take place.

With a firm strategy in place, a strong management team, and solid institutional backing, I believe that we can now look forward to re-energising and rebuilding a successful business. We have every confidence in the Group and look forward to delivering sustainable growth in the future.

From Martin May (CEO)

I believe the key to the success of PlaneStation is to focus on its strengths and to build a foundation that provides both financial security for the Group as well as a solid platform for growth. Although we have achieved much in the last few months, we still have a lot to do. I am optimistic about the future prospects for the Group and look forward with confidence

Following on from the review of our airport assets, it is clear that the
strategy of the Group is best served by concentrating on those assets that are
core, those that will create real and significant value for shareholders. The
Group's core airport assets include Kent International Airport at Manston, Lahr
in Germany and Melbourne in the USA.

Following on from the review of our property assets it is clear that the
strategy of the Group is best served by concentrating on those assets that are
core, those that will create real and significant value for shareholders.

re LFG:
We have concluded that this is best served by selling the site to a residential developer. Although the exclusivity period granted to the Langtree Group has now expired, the negotiations for the sale are well advanced.

re: Burford
In due course we will be submitting plans for residential development but we anticipate the process could take several years.

Non-core property assets include sites in Lincoln, Redworth and Hellaby. These
properties will be actively marketed and disposed of as soon as practicable.

Shares have been marked down 0.25p. NMS appears to be 50k sell and 250k buy!!!

ooops the eagle has been shot down!!

The mark down, in my opinion, results from a number of causes:

1. Sellers who thought that the results would show a drastic improvement. I cant see why they would have thought that since the revenue earning activities don't really start until September.

2. Shorters. Bound to be a few taking a gamble.

3. Market Makers up to their ususal tricks.

4. Investors taking advantage of the results effect hoping to buy in at a lower price.

There are probably more, some people may be worried about the new Hungary venture.

Nothing encouraging here. I took my loot @ 6.6p some while ago and if I was still in I wouldn't be for long. Not saying it won't be a good trading chance in the future though.