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.

I think some of the bigger boys will take advantage of current weakness. we may see a change in s/p

Big Buys comming in

What ever turns you on Dull ooops I mean dil.

But it does not turn me on in the least as 2+2 simply aint adding up here and the trades today are showing no real impetus of someone picking up load of bargains.

I took the folow post off ADVFN( with full acknowledgement to both them and the very witty author)-

Makes a whole bunch of sense to me and add further weight to my 80p:-----


sandbank - 5 Jul'07 - 13:29 - 2138 of 2147


HERE IS A DRAFT OF THE NEXT WNG RNS FOR SHAREHOLDER APPROVAL

Well, there you go - it was all down to a computer glich! Wouldn't you know it? - the sort of thing that could happen to anybody. Yeah - whoops - we'd better hold our hand up here! But look - we're a pretty straight sorta company -right?.

Remember it only happened because we were RENEWING out computer system to do a BETTER JOB for the damn shareholders- and now they're the ones complaining about it! Typical - absolutely typical!

And anyway computers? - Who can trust them? ...The IT guy obviously loaded in the old data that's all- (or something like that anyway - blowed if we understand it either). So that's the story the PR department have pumped out and we're stickin with it ...'specially if it saves us having those FSA people NOSING AROUND - know what I mean?

So let's not get this thing out of proportion - it's happened a million times before - so get off our backs OK?

It's just a cheap shot to ask us why we didn't spot that rogue info in the interim statement before it was released. C'mon! It's TEN PAGES LONG! Who's got THE TIME - and let's face it THE INCLINATION to gp ploughing through all that boring regulatory stuff and reading every damn dot and comma? ...That's for secretaries and accountancy nerds. All we did was just sign it off. Job done!

OK maybe some (alright probably quite a few) PIs took a pasting. And OK we have had one or two hot phone calls from those institutions who bought in - but they better remember 170p was a GOOD PRICE BACK IN MAY - and they're swimming in so much client cash they may as well lose it here as anyplace else.

But be fair. It didn't take long for us here at WNG to sort things out. Ok - if you want to be pedantic - it took maybe a week or so - but that's not all that much time. And let's face it we acted pretty quickly to pick up those cheap shares after the sell-off didn't we? Just shows we CAN be fast off the mark when we wanna be! Yessireee!

But see here - there's nothing for us to apologise for. It's not something really serious - like we had sex with that woman - Miss Lewinsky.

And as for those malcontent shareholders who panicked when they should have had the utmost confidence in the company - well who cares? We're better off without them - although thanks for the cheap shares you guys

....although we ain't made as much as we thought out of them so far thanks to those WHINGEING SHAREHOLDERS fussin' around.

And whaddya mean apologise? ..to those guys who sold their shares?..and lost money? .....C'mon! Get real. We've said it before and we'll say it again, if we'd given out the CORRECT FIGURES in that RNS then the shares wouldn't have fallen all that much...Or at least they wouldn't have fallen so steep.

So that's it.The end of.

................. and yet another good buy on fundies goes to the dogs.

LOL

mmmmm not looking quite so perky today chaps.

Sold my last 2 tranches first thing.

Leaving this until we get the next trading update.

Sadly the management could not manage the growth this one as been generating.

Cant complain though as a 2 bagger plus with my profits intact aint bad in less than 12 months.

The WNG sp drop has been overdone in comparison with CART and RNOW both of which has risen after recent losses from bad news.

This has been a v fustrating week but unfortuantely this has now become traders share & many are not looking at the fundamentals but then even they provide a mixed message based on the RNS since last week. Majority will look for a 10% gain whenever there is a dip.

Sad to see GF leave the ship for now which may lead others to follow as he has a good trrack record.

I will hold for now & keep everything crossed that they can turn it around v soon. However I believe that we need some contract news, the longer time goes without some, the chance is it could go lower (I hope i'm wrong though!).

GF, if other parts of the financials were stated as incorrect, shouldn't the last RNS also mention that the rest of the numbers are being reviewed ? Surely they would be considered to be candidates for 'fraud' ?

mmmhhhh ending the day on a low does not bode well.

Fixing figures neither.

LISTEN CHAPS THINK YOUR GONNA GET STUCK HERE.

LOOK WHAT HAPPEN WHEN WIGGINS FIDDLED THE BOOKS---IT WAS THE DEATH OF THE COMPANY.THE CITY NEVER FORGETS AND GETS YOU BACK FOR MAKING FOOLS OF THEM.

A SLOW MISERBALE DEATH UNTILL WIIGEN FINALLY WOBBLED COUGHED ROLLED OVER AND DIED---LEAVING SHARE HOLDERS WITH NOTHING JUST AGONY AND LOST PENSIONS.

AGONY FOR SHAREHOLDERS IS NOT A PRETTY THING, ASK LEEDSLAD WHO POSTS HERE.

May I suggest something and before doing so let me say this, you are all big boys, we will clap when you win and forget you when you lose.

Thats the nature of the beast.

But for those of you who have lost. you can make your money back and more.

But please spend the weekend doing your homework.

I have done years of it and I can safely tell you, as safe as any LSE investment can be, that in less than a year. six months approximately you "WILL" make 100% return plus if you buy MLR at today's prices.

I have built up a pretty big stake in MLR from 7p up and did in fact buy today---so its no skin off my snout if you buy or you dont.

But please gentlemen. mark this post and the date and come back in six months.

For those who may have bought on my recomendation this week you are already in profit.

I am a bottom fisher. I like to buy at the rock bottom and watch my investments grow.

I have nothing in my portfolio right now that would cost me less than my original purchase price to buy today.

I dont like sitting on a share to see it fall I did though come close with LNX buy it still sits at the close today at 5.5p I have a few 100k of them at 4.7p and they will come good but it will take a few years---thats what bottom fihing is about.

Do your research this weekend I think you will agree about MLR, its grossly undervalued and can only move up from here.

Good luck.

MLR WILL GO DOWN NEXT WEEK WITHOUT ANY NEWS

Oh dear, I take it from your post Beemer that Thursh is ramping MLR here as well?
Infests the COH thread with constant complaints of ramping and then ramps MLR all over MAM. What a f$&*ing hypocrite!! Beginning to get more like ADVFN everyday since his arrival on the board.

Could do with a good insect repellent.

Athletes foot cream might work

So when offering some sound advice one gets accussed of ramping by the idiots who obviously know very little..

OK, WHERE IGNORANCE IS BLISS 'TIS FOLLY TO BE WISE THERFORE PLEASE TRY THIS---

PLEASE DON'T DON'T DON'T BUY MLR!


JUST REMEMBER THE TIME AND DATE, AND OF COURSE THAT ITS NOT A SHARE FOR LOSERS.

PLEASE STAY WITH WNG.

If it is not for losers...how come you are a holder.

Ah now you are begining to think--at last.

BUT MY ADVISE TO YOU IS PLEASE DONT BUY IT! PLEASE BUY WNG!

Nobody wants to buy MLR...

Thats good then, more for me and the IC subscribers, and of course I see it was all Scotch Mist today.

You stick to COH and BKE AND WE WILL SEE WHO WILLBE LAUGHING A YEAR FROM NOW.

I've been laughing all the way to the bank with COH since it consolodated...sitting on a MASSIVE PROFIT at the moment...pity you jumped at 18p.

Also a pity you cashed in those millions of BKE shares at a massive LOSS.

"I have done years of it and I can safely tell you, as safe as any LSE investment can be, that in less than a year. six months approximately you "WILL" make 100% return plus if the buy MLR at today's prices."

Bullie/mam .... is this legal ?