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.

Looking good today

Is someone out there offloading a huge amount of stock?
There seems to be masses of buys out there with very few sells (although some big ones here and there) but no price movement...

I'm beginning to think that there are plenty of buyers, including one or two corporate buyers who are sucking up the stock BUT there is a huge buyer that has instructed his MM to sell the stock to whoever is looking to buy rather than just put amounts up for sale.
Because of this the price just won't move because there is no demand for shares (by buyers) due to there being an available seller...

Does that make sense or am I talking rubbish??!!

Anyone got any comments?

Ta, JFish

There was a recent share issue.

Once this lot is out of the way, then I suppose the brokers will run short of stock & the price will rise.

See lemminginvestor


Re-financing:

The company made it clear to shareholders that the proposed re-financing was a must to ensure survival. The group is now on firmer ground and has finally got underway. The placing and open offer of 46.35m, after expenses, closely equal to the whole capitalisation is an astonishing achievement, with the issue over subscribed, and with firm undertakings. Thus Wiggins escapes the high expenses of underwriting. Of the total, 6,550,000 was raised by placing 8% Convertible Loan Stock with institutional and other investors. Holders of shares on 3 December have received an open offer of a subscription at 4p for one share per every six. Institutions will each be slightly short of the original amounts tendered for. There will also be a distribution of one 10p warrant for every 5 shares held on the 9th January to encourage institutions who have bought at the placing price to refrain from taking quick profits. Prudential have increased their holding from 99m shares to c290m, and thus remain loyal to the group, this should not be lost on shareholders.

There is some offloading..usually at end of day. The mm's know this is going to happen hence the no-movementin price scenario. How much left? don't know. Will keep watching.but demand is outstripping supply on a daily basis. My guess is that the mm's know that there's no joey sellers at this price,but plenty of buyers. An increase in price would attract buyers...I know several buyers waiting to buy when the price moves through 8p..if...thats their trading style..

A lot of buying yesterday

Buy 5,564,696 Sell 2,220,466 Unknown 500,000

Price was unmoved.

2.7% drop today, good buying opportunity.

Local news paper says that people are flocking to buy tickets to fly abroad from manston this year through New market promotions!

G12

More big buys this morning.

This share must be like a coiled spring at the moment!!

G12

That spring must be held down with a strong rubber band, although it will only be a matter of time when the pressure expands it and allows to head north.

The share issue at the end of last year is probably what is holding it back.

Once that has been digested then we should see some progress.

Thank you Serk0 and Duplex for your helpful replies to my query. I have been away for the last 5 days. I shall be hanging on the Planestation shares and may top up soon.

All

for latest cargo figures check out companies web

G12

Any ideas why the sudden drop?? This should be on its way up by now.


G12

MMs have been holding the price back & now dropped it so I suppose they want you to panic.

They want your shares, maybe they are trying to fill a big order before good newsflow.

golfclub12,
what website? it's dissappeared.

Serko

forgot to put in link,its on www.wigginsgroupplc.com

G12

Site dosen't work at the moment.
It seems they might be putting a new site up:
http://www.wigginsgroupplc.com/index.html
Will show something different!

Can't find the cargo figures though :-(

jfish

The wiggins www has gone all weard and the planestation www is currently under construction. they were fine this morning!!

The cargo figures again looked promising.

G12

http://www.planestation.com

Works OK for me.

Perhaps you tried it at the only time it was down.

http://www.planestation.com/projects/cargotonnage02b04.gif