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.

Yep Big Al two weeks on the markets can sometimes seem like a lifetime, but in general Im very happy with this one having trousered a six figure profit.

Got some more at a bargin price .

absolutely unbelievable buying this am.

Not the bounce we had hoped for yet.

looks very quiet out there. Might be something to do with the bombings of the last few days but tend to think thats in the prices now.

Any thoughts anyone?.

Hi Gf i still have my few for a free ride ,as you know i sold my main holding on the climb in February, i think these got a bit ahead of themselves up at 180p ,and were bound to retrace ,then the recent figures were obviously going to have an impact,,,i'm keeping my holding as i believe in the company ,however i didn't see the need to dive back in for a trade,i think we need more time to see where they are going...Cheers Jimmy.

I think your spot on Jimmy.

good job we both took that profit eh.

Yup very nice one it was too ,i am surprised they hav'nt spiked up more today though with all the buying .

Yep does look to be far more buys than sells.

MM picking up stop losses at cheap prices . Big buy order in hand ?

Or just the day traders packing up for the day?

Getting hammered again , even i'm getting tempted ,what do you think GF, a bit overdone i'm thinking.

Never try to bottom fish IMO.

Not tempted myself Jimmy, I want to see as per post above the next trading statement to see wether or not they have got these contracts sorted out.

A broker who met St. Peter at the Pearly Gates. When told his occupation, St. Peter said, Oh, Im really sorry. You seem to meet all the tests to get into heaven. But weve got a terrible problem. See that pen over there? Thats where we keep the brokers waiting to get into heaven. And its filledwe havent got room for even one more. The broker thought for a minute and said, Would you mind if I just said four words to those folks? I cant see any harm in that, said St. Pete. So the old-timer cupped his hands and yelled out, sell in hell! Immediately, the broker wrenched the lock off the door of the pen and out they flew, flapping their wings as hard as they could for the lower regions. You know, thats a pretty good trick, St. Pete said. Move in. The place is yours. Youve got plenty of room to buy cheeply. The old fellow scratched his head and said, No. If you dont mind, I think Ill go along with the rest of em. There may be some truth to that rumor after all."

3 July 2007


Worthington Nicholls Group plc


Directorate changes


Worthington Nicholls Group plc ("Worthington Nicholls" or "Group"), one of the
UK's leading installers of air conditioning, heating, ventilation and chilled
water systems, announces the following changes to the Board.


Having come to the end of the 12 month contract agreed at the time of the
Group's admission to AIM, Peter Worthington, Chairman, will stand down from the
board and will be replaced by Alastair Stoddart, current Deputy Chairman, with
immediate effect. Peter will remain with the Group as a consultant.


Alastair Stoddart, 65, is a renowned entrepreneur. As part-owner of Cearns &
Brown Limited he helped to grow the company's revenues from 4 million to 200
million before selling the business in 2000. Alastair was also Chairman of
Lindley Catering Limited which was sold in July 2005. He is currently Chairman
of Wetherby Building Systems Limited.


Alastair Stoddart, incoming Chairman, commented:

"Peter initially founded the business in 1973 and was instrumental in driving
the business through long periods of its growth. As Chairman, he led the Group
through an exciting first year on AIM and it has been a pleasure working with
him over the last twelve months. He can justifiably feel immensely proud of the
legacy he leaves behind. I know all of the Board and staff will join me in
expressing our gratitude for the work he has done over the last 34 years and in
wishing him well for the future. We will, of course, continue to see him
regularly in his new role as a consultant to the Board".


Peter Worthington added:

"I have decided that it is the right time for me to hand over the reigns to
Alastair. We have worked closely over the last year and I believe the Group is
gaining a worthy successor and I wish him well. I will, of course, be available
to the Board whenever they need my advice and expect the Group to continue its
growth over the coming years."

Hmm.

what as in hmm hmm or just what the f***k is going on.. that hmm

Pretty poor timing kind of Hmm. ;-))

At least we got a hammer today.

Lets hope there are no more surprises ready to spring out.
I wouldn't be suprised to find out that the financial institutions knew before we did.