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.

Jeff

Only posting a rumour. FWIW if the racecourse was done properly i think it would be agreat location with little to no competition north of london

In the local paper (Thanet gazette)on Friday very strong rumours of BA moving its Cargo from Stansted to Manston.If this goes ahead it just goes to show that companies like BA are starting to realise what a great set up Planestation has in the making.
G12

The concept looks good, the funding less certain and todays announcement doesn't inspire confidence. Having made a few bob on it earlier in the year, happy to sit on the sidelines at present.

keeping us up to date?...am I so dim that it would almost be better not to say anything...why not how much and for how long?...and what property is pledged? ...is the encouraging thing our credit is still good for something!

I sold out on this when a stop loss triggered, but thought this might be of interest to those still in.

Comments today by Edmond Jackson, Citywire report.

Meanwhile, over at airports group PlaneStation (PTG) the shares yesterday jumped nearly 20% to a mid-50p range by mid-afternoon; then settled up about 15% at 54p-mid price after some chunky sales. I felt the shares offered upside at 44/47p after a sharp fall linked with a consolidation (see CFD dealer, 5 November).


This may have reflected bear closing but a report last night said that advanced passenger sales for the group's Eujet are looking good. This rumour was circulating late last week. Be careful with PlaneStation in this respect, for on the downside there was no public admittance of the loss of MK Airlines' freight business, which coincided with the shares plunging. I continue to hold.


Both shares are interesting in context of the regional airports growth theme, with TBI offering one model of development while PlaneStation opts for vertical integration via moving to acquire EUjet.

Nov 16: PlaneStation Group plc, the airport and property company, has arranged with its bankers, Bank of Scotland, for a short term overdraft facility on a secured basis.

Anybody know why?

Perhaps they are using it to buy something, airport or airline, anybody's guess. Might just need the money!

Use the overdraft to buy an airport, very sensible. Lets face it, they have always been scratching around for money. Probably paying about 9% on the overdraft.

Jeffmack
You take life so seriously!

PTG bidding for TBI, remember where you heard it first

TBI PLC
18 November 2004

18 November 2004



TBI plc ('TBI' or the 'Company')

The Board of TBI notes the recent share price movement and can confirm that it
has received a preliminary approach which may or may not lead to an offer for
the entire issued and to be issued share capital of the Company. Discussions
are at a preliminary stage and there can be no assurances that agreement can be
reached.


A further announcement will be made when appropriate.

jeffmack - that's interesting. You might like to know that a few weeks ago my broker sent me the "Finals" report for TBI. Nice of him. Trouble is, I don't hold any TBI stock. But I do hold PTG. Weird, eh! :)

well you get a more entertaining ride with PTG

I hold TBI and I hope PTG aren't the interested party, the next step would be to buy Easyjet then Ryanair, and all out of that new overdraft facility :-)

opto
Now we know why they needed that overdraft

Would be a 'highly leveraged' purchase Jeff!! will be interesting to see who is in fact behind it. Reckon TBI could go this time.

Article from PTG website:

18 NOvember 2004
fairlop racecourse project finally gets green light from planning officials
Racing Post

The long-running saga of London City racecourse has finally taken a positive turn after planning officers at Redbridge Council gave their backing to the projects, writes Graham Green.

The turnaround was heartening news for property developer PlaneStation plc as it is the first evidence of significant supprt from the local community, which has previously been notable for widespread opposition to the new racecourse in east London.

Councillors are holding a special regulatory meeting on Monday to consider a 45-page report compiled by officials recommending approval of the revised planning application lodged by the company, previously known as Wiggins.

It increases the pressure on members who, while they may reject the latest proposal, will be aware they could face paying the costs of a planning inquiry if the inspector decided they had acted unfairly, and in the past Redbridge has run up bills of 100,000 on appeals.

Should the local authority, which is also landlord of the 345-acre site at Fairlop Water - 15 miles east of central London - earmarked for the racecourse, vote through the plans, they will then pass to London mayor Ken Livingstone, who needs to be consulted on strategic planning grounds.

The original development, first unveiled in 1999, eventually floundered when deputy Prime Minister John Prescott turned it down due to the scale of the 10,000-seater grandstand and the impact it would have on the Green Belt, but this has since been replaced by a much smaller structure, which PlaneStation hoped would placate the concerns of local residents while also reducing the cost of the project.

Nigel Miles, a spokesman for PlaneStation, said: "We set out to ensure our latest proposals respond fully to each of the issues raised by our previous planning application, most notably the size of the grandstand, but also in terms of ecology, transport and environmental issues.

"We went back to the drawing-board and undertook widespread consultation in order to create a comprehensively improved scheme which will bring real benefits to the local community as well as providing a flagship racecourse for the British racing industry."

Yesterday, PTG dropped to 45p for the 2nd time & then started to tick up again.

So I bought back in, Fairlop may get the go ahead next week but if not then I'll get out & buy again after the dust has settled.

Next week could be very interesting.

Buying is picking up this afternoon!

apple I thought fairlop was turned down on Monday

I thought that the decision was delayed.

It was only a delay in the publication of the decision.

You are right, it was turned down on Monday.

So that explains the drop earlier this week.