Watchstone Group is a holding company with technology at its core.

Our businesses offer leading technology solutions primarily to the insurance, automotive and healthcare industries.

While we have a diverse portfolio, our operating businesses are unified by a set of shared commercial principles:

■We seek to anticipate change and we have the agility to exploit the dynamism of customer behaviour
■We invest in the people and technologies that will drive innovation and success in our markets
■We promote in-depth sector knowledge and experience as the starting point of value creation, and
■We strive for efficiency across our businesses through the optimal allocation of resources and good governance

                   

NEWS

26th Jan 2018 Pre-close trading update
11th May 2017 Prospective claim by Slater and Gordon
05th May 2017 Report and Accounts for the year ended 31 December 2016
27th Apr 2017 Preliminary results for the year ended 31 December 2016

VIDEO/AUDIO/PRESENTATIONS

May 2017 2016 Annual Report and Accounts
Jun 2016 Presentation-Results for the six months ended 30 June 2016
27th May Watchstone Audio Webcast-Financial Results
27th Jan Watchstone Group Outline Strategy

EVENTS

The 2017 Commercial Vehicle Show (CV Show)25th-27th April -UK (Hubio)
The Strategic Claims conference2nd March-UK (Hubio)
2017 Insurance-Canada.ca Technology Conference28th February-Canada (Hubio)
NRF's Annual Convention & EXPO (Retail's BIG Show)15th-17th January-USA (Tech Mahindra-Bronze sponsors/exhibitor)
2017 Commercial Vehicle Show25th-27th April-UK (Hubio Fleet-exhibitor)

WEBSITES




LINKS TO DEDICATED PAGES

pt Health
ingenie Updated 2nd June
Innocare Updated 2nd June

Spotlight on ingenie


June 2017

Watchstone Group is pleased to share a spotlight video on our ingenie business. This video features the Watchstone Group CEO, Indro Mukerjee and Mike Ketteringham and Cara Hurlock from the ingenie senior management team as they talk about ingenie’s success to date as an insurtech pioneer.

They explain how the business was founded on a passion for road safety and driven by innovation in data and technology that underpins everything. Building on the wealth of data and deep expertise in insurtech, they share their excitement on ingenie’s strong position for future growth.

http://www.watchstonegroup.com/spotlight-on-ingenie/

Settlement the first step in saving Slater & Gordon from oblivion
The Australian
1:59PM July 11, 2017
http://www.theaustralian.com.au/business/opinion/stephen-bartholomeusz/settlement-the-first-step-in-saving-slater-gordon-from-oblivion/news-story/a10aca78bcc470aeda22ce803dca48a9

Slater and Gordon shares jump 13.5% on $28m class action settlement
Financial Times
16 hours ago by: Hudson Lockett

https://www.ft.com/content/b803b237-e474-30d3-bef0-8631f5e13b88?mhq5j=e3

Polygon Global Partners LLP have increased their stake to 6,564,379 (14.259%)

Reade Griffith holds a majority of the voting rights in Polygon Global Partners LLP. Consequently, Polygon Global Partners LLP is a “controlled undertaking” in relation to Mr. Griffith.

http://www.watchstonegroup.com/8392k/

InnoCare Launches Engage: A Fully Automated & Personalised Email Marketing Tool for Clinicians


July 2017/in Company News


InnoCare has released Engage, an automated and personalised email marketing system strategically designed to increase clinic revenue. Engage helps clinicians maintain relationships with their patients by recommending appropriate health care products, cross referring them to clinic services, reaching out when a patient self-discharges to encourage them to complete their treatment plan and attend future appointments.

Integrated with InnoCare Charting+, ‘trigger-based’ emails are sent at specific intervals during the patient’s treatment journey. Unlike traditional email platforms that require spreadsheet uploads and email development, Engage pulls data automatically from Charting+, alleviating the challenges and trepidation clinicians and their staff have with managing email marketing campaigns. Engage does all the heavy lifting, helping busy practitioners stay in-touch with their patients through meaningful and relevant content.

Engage emails are sent after specific events such as missed appointments. “We know that patient “fall-off” is a critical issue for clinics and patients alike,” InnoCare CEO, Heather Shantora, explains. “With Engage, practitioners will have peace of mind knowing that the program will automatically reach out if a patient has missed an appointment with a friendly reminder encouraging them to complete their treatment plan.” The automated emails are based on recommendations the clinician made during appointments and documented within Charting+. Following the appointment, a patient receives a follow-up email that may be about a recommended health care product, contain an exercise guide, or cross refers a clinic service that supports the patient’s recovery goals.

Engage is another innovative product that further differentiates InnoCare as a health care technology leader focused on developing tools and services that improve clinic efficiency, grow practices, and improve clinical outcomes. In addition, all communications sent through Engage meet Canada’s Anti-Spam Legislation (CASL) requirements and contain relevant, personalised content that aligns with the patient’s unique treatment plan.

For more information about Engage, please visit https://innocare.ca/services/engage/



Link to the Innocare YouTube channel:

https://www.youtube.com/channel/UCHKHYrgWvNl0xJOYeb9Hjkg

The shareholder information was updated yesterday but they have not altered the date as yet! Edit -Have now

The directors have been notified, or are aware of the following interests in the issued share capital of the company in respect of the shareholdings, and related holding percentages, of the following significant shareholders and directors of Watchstone Group plc as at 12 July 2017.

Current total shares in issue 46,038,333 as at 12 July 2017 with none being held as treasury and 1.97% being held “not in public hands” i.e. held by directors, directors of subsidiaries, trustees of employee share schemes / pension funds or any other substantial shareholders (>10%).

Link to historic 'Shareholder information'
Shareholder informationThe directors have been notified, or are aware of the following interests in the issued share capital of the company in respect of the shareholdings, and related holding percentages, of the following significant shareholders and directors of Watchstone Group plc as at 8 June 2017.


Major shareholder information

Name--------------------------------------------No. of Shares-------------------% Holding

Beach Point Capital Management LLP-----------7,888,718----------------------17.14%
Polygon Global Partners LLP---------------------6,564,379----------------------14.26%
Sand Grove Capital Management LLP-----------3,787,781-----------------------8.23%
M&G Investments (Prudential)-------------------2,916,666-----------------------6.34%
BlueMountain Capital Management, LLC---------2,319,940----------------------5.04%

Subtotal-------------------------------------------23,477,484--------------------51.01%

Director information

Name---------------------------------------No. of Shares-------------------% Holding

Stefan Borson (PMDR)----------------------300,00---------------------------0.65%
Richard Rose--------------------------------100,000--------------------------0.22%
Indro Mukerjee-------------------------------50,550--------------------------0.11%
Mark Williams---------------------------------50,550--------------------------0.11%
Lord Howard of Lympne----------------------12,608-------------------------0.03%
David Currie------------------------------------1,950--------------------less than 0.01%

Subtotal---------------------------------------515,658-------------------------1..13%

Current total shares in issue 46,038,333 as at 8 June 2017 with none being held as treasury and 1.97% being held “not in public hands” i.e. held by directors, directors of subsidiaries, trustees of employee share schemes / pension funds or any other substantial shareholders (>10%).

http://www.watchstonegroup.com/investors/shareholder-information/

Polygon Global Partners LLP have increased their stake from 6,564,379 (14.259%) to
6,930,269 (15.053%)

Reade Griffith holds a majority of the voting rights in Polygon Global Partners LLP.  Consequently, Polygon Global Partners LLP is a "controlled undertaking" in relation to Mr. Griffith.

http://otp.investis.com/clients/uk/watchstone_group/rns/regulatory-story.aspx?cid=1338&newsid=895989

Link to historic 'Shareholder information'

Shareholder information

The directors have been notified, or are aware of the following interests in the issued share capital of the company in respect of the shareholdings, and related holding percentages, of the following significant shareholders and directors of Watchstone Group plc as at 31 July 2017

Major shareholder information

Name--------------------------------------------No. of Shares-------------------% Holding

Beach Point Capital Management LLP-----------7,888,718----------------------17.14%
Polygon Global Partners LLP---------------------6,930,269----------------------15.05%
Sand Grove Capital Management LLP-----------3,787,781-----------------------8.23%
M&G Investments (Prudential)-------------------2,916,666-----------------------6.34%
BlueMountain Capital Management, LLC---------2,248,093----------------------4.88%

Subtotal-------------------------------------------23,771,527--------------------51.64%

Director information

Name---------------------------------------No. of Shares-------------------% Holding

Stefan Borson (PMDR)----------------------300,00---------------------------0.65%
Richard Rose--------------------------------100,000--------------------------0.22%
Indro Mukerjee-------------------------------50,550--------------------------0.11%
Mark Williams---------------------------------50,550--------------------------0.11%
Lord Howard of Lympne----------------------12,608-------------------------0.03%
David Currie------------------------------------1,950--------------------less than 0.01%

Subtotal---------------------------------------515,658-------------------------1..13%

Current total shares in issue 46,038,333 as at 31 July 2017 with none being held as treasury and 1.97% being held “not in public hands” i.e. held by directors, directors of subsidiaries, trustees of employee share schemes / pension funds or any other substantial shareholders (>10%).

http://www.watchstonegroup.com/investors/shareholder-information/

Polygon Global Partners LLP have increased their stake (yet again!) from 6,930,269 (15.053%) to 7,384,034 (16.039%)

Reade Griffith holds a majority of the voting rights in Polygon Global Partners LLP. Consequently, Polygon Global Partners LLP is a "controlled undertaking" in relation to Mr. Griffith.

http://otp.investis.com/clients/uk/watchstone_group/rns/regulatory-story.aspx?cid=1338&newsid=912710

Link to historic 'Shareholder information'

Shareholder information

The directors have been notified, or are aware of the following interests in the issued share capital of the company in respect of the shareholdings, and related holding percentages, of the following significant shareholders and directors of Watchstone Group plc as at 31 August 2017.

Major shareholder information

Name--------------------------------------------No. of Shares-------------------% Holding

Beach Point Capital Management LLP-----------7,888,718----------------------17.14%
Polygon Global Partners LLP---------------------7,384,034----------------------16.04%
Sand Grove Capital Management LLP-----------3,787,781-----------------------8.23%
M&G Investments (Prudential)-------------------2,916,666-----------------------6.34%
BlueMountain Capital Management, LLC---------2,248,093----------------------4.88%

Subtotal-------------------------------------------24,225,292--------------------52.63%

Director information

Name---------------------------------------No. of Shares-------------------% Holding

Stefan Borson (PMDR)----------------------300,00---------------------------0.65%
Richard Rose--------------------------------100,000--------------------------0.22%
Indro Mukerjee-------------------------------50,550--------------------------0.11%
Mark Williams---------------------------------50,550--------------------------0.11%
Lord Howard of Lympne----------------------12,608-------------------------0.03%
David Currie------------------------------------1,950--------------------less than 0.01%

Subtotal---------------------------------------515,658-------------------------1..13%

Current total shares in issue 46,038,333 as at 31 August 2017 with none being held as treasury and 1.97% being held “not in public hands” i.e. held by directors, directors of subsidiaries, trustees of employee share schemes / pension funds or any other substantial shareholders (>10%).

http://www.watchstonegroup.com/investors/shareholder-information/

Format looks to a bit wrong (not just on MAM) but by the look

UBS Investment Bank/UBS Group AG have joined in crossing the 5% threshold:

2,416,640 (5.25%)

http://www.moneyam.com/action/news/showArticle?id=5650834

Anyone subscribing to the MoneyAM Level 2 platform please take note that most days it is not reporting the correct Trade High nor Trade Low information and "some days" not reporting the correct Opening Price or Closing Price.

The reason is because MoneyAM's Level 2 system is not sensing the Auto Trades or Ordinary Trades correctly so is wrongly reporting them

MoneyAM has been unable to fix the fault for over 8 weeks now but are still charging full price for their Level 2

20 September 2017
Watchstone Group plc

Results for the six months ended 30 June 2017

Watchstone (AIM:WTG.L) today announces its results for the six months ended 30 June 2017.

Financial summary:
· Underlying business revenues improved to £26.3m (2016: £25.2m)*

· Underlying EBITDA loss of £2.4m (2016: £3.5m)*

· Total loss before tax of £2.1m (2016: loss of £8.1m)

· Group net assets of £66.5m at 30 June 2017 (as at 31 December 2016: £68.5m)

· Group cash and term deposits at 30 June 2017 of £67.2m, with a further £50m in escrow

· Group cash and term deposits at 15 September 2017 of £65.8m

*BAS, Maine Finance and Hubio Telematics have been classified as non-underlying in 2017, the 2016 amounts are presented on a comparable basis.

Operational highlights:

· Group complexity and losses continue to be reduced through disposal/closure/reshaping of cash consuming activities

· Largest businesses ptHealth and ingenie now well positioned and being invested in for growth

· Profitable disposal of Business Advisory Services Limited

· Reshaping of Hubio completed - very substantial reduction of cash requirements

· Successful resolution of a number of outstanding historic tax matters

http://www.moneyam.com/action/news/showArticle?id=5671433

CHAIRMAN'S STATEMENT

We remain on track with the strategy and execution of our plan to prepare our businesses for future disposals. These potential divestments will be determined with a view to maximising shareholder value taking all factors into consideration.

With the stabilisation and improvement of our operating businesses, there is no undue pressure to dispose of any assets unless fair value is achieved.

Since 30 June 2017, we have disposed of Business Advisory Service Limited ("BAS") which was loss making, and presented no opportunity for additional shareholder value.

ptHealth and ingenie remain profitable and are growing with further opportunities for profit improvement from organic growth and margin enhancement.

Plans are well advanced to move to a smaller and significantly reduced Group cost structure by the end of 2017. To that end, as previously announced, two of our non-executive directors, David Currie and Tony Illsley will stand down from the Board on 30 September 2017. On behalf of the whole Board, I would like to thank them both for their contributions and commitment over the last few years in the challenging and complex situation faced by the Group.

We will continue to address the legal and regulatory matters that face the Group with focus and determination. We will continue to defend the litigation against the Group vigorously and will file our robust defence in respect of the Slater & Gordon litigation imminently.

There is still work to be done, both at the Group level and within our businesses, and I would like to thank our employees for their commitment and our shareholders for their support.

I would also like to thank our investors who have been patient and maintained support for the Company as the intense work to deliver the best possible value from all our assets has continued. The Board remains confident that we will go on to reward that support.

Richard Rose
Non-executive Chairman

http://www.moneyam.com/action/news/showArticle?id=5671433

TR-1: Notification of major interest in shares

Polygon Global Partners LLP have increased their holding (again) from 7,384,034 (16.04%) to 8,016,599 (17.413%)

Reade Griffith holds a majority of the voting rights in Polygon Global Partners LLP. Consequently, Polygon Global Partners LLP is a “controlled undertaking” in relation to Mr. Griffith.

http://www.watchstonegroup.com/4339r/

Link to historic 'Shareholder information'

Shareholder information

The directors have been notified, or are aware of the following interests in the issued share capital of the company in respect of the shareholdings, and related holding percentages, of the following significant shareholders and directors of Watchstone Group plc as at 21 September 2017.

Major shareholder information

Name--------------------------------------------No. of Shares-------------------% Holding

Polygon Global Partners LLP---------------------8,016,599----------------------17.41%
Beach Point Capital Management LLP-----------7,888,718----------------------17.14%
Sand Grove Capital Management LLP-----------3,787,781-----------------------8.23%
M&G Investments (Prudential)-------------------2,916,666-----------------------6.34%
BlueMountain Capital Management, LLC---------2,248,093----------------------4.88%

Subtotal-------------------------------------------24,225,292--------------------52.63%

Director information

Name---------------------------------------No. of Shares-------------------% Holding

Stefan Borson (PMDR)----------------------300,00---------------------------0.65%
Richard Rose--------------------------------100,000--------------------------0.22%
Indro Mukerjee-------------------------------50,550--------------------------0.11%
Mark Williams---------------------------------50,550--------------------------0.11%
Lord Howard of Lympne----------------------12,608-------------------------0.03%
David Currie------------------------------------1,950--------------------less than 0.01%

Subtotal---------------------------------------515,658-------------------------1..13%

Current total shares in issue 46,038,333 as at 21 September 2017 with none being held as treasury and 1.97% being held “not in public hands” i.e. held by directors, directors of subsidiaries, trustees of employee share schemes / pension funds or any other substantial shareholders (>10%).

http://www.watchstonegroup.com/investors/shareholder-information/

Polygon Global Partners LLP have increased their holding (again) from 8,016,599 (17.413%) to 8,400,000 (18.246%)

Reade Griffith holds a majority of the voting rights in Polygon Global Partners LLP. Consequently, Polygon Global Partners LLP is a "controlled undertaking" in relation to Mr. Griffith.

http://otp.investis.com/clients/uk/watchstone_group/rns/regulatory-story.aspx?cid=1338&newsid=932772

12 October 2017 @ 16:30 
Watchstone Group plc
 
Defence to claim by Slater and Gordon (UK) 1 Limited
 
Further to its announcement on 14 June 2017, Watchstone Group plc (LON:WTG) ("Watchstone") has now served and filed its Defence in the High Court proceedings issued by Slater and Gordon (UK) 1 Limited ("SGH") for breach of warranty and/or fraudulent misrepresentation for a total amount of up to £637m plus interest and damages.
 
A copy of the Defence, a Summary of which is set out below, can be obtained on written application to the Commercial Court, alternatively online at the HM Courts & Tribunals e-filing Service:  HMCTS e-filing service at https://efile.cefile-app.com/login, subject to the payment of the prescribed fee. The claim number is CL-2017-000348, High Court of Justice, Queens Bench Division, Commercial Court.
 
As previously detailed, Watchstone is satisfied that SGH's claims are wholly without merit and the proceedings should never have been issued. Watchstone will defend these proceedings robustly.
 
Watchstone will make further announcements in due course, as appropriate.

http://www.moneyam.com/action/news/showArticle?id=5702264

UBS Investment Bank have increased their holding from 5.25% to 6.01%

http://www.moneyam.com/action/news/showArticle?id=5705484

These TR-1's are looking more awkward to read than before and that's saying something! Did I miss UBS crossing 3%.........anyway it's a positive sign.

26 January 2018
Watchstone Group plc

Pre-close trading update

Watchstone Group plc (LON:WTG) today issues a pre-close trading update ahead of its results for the year ended 31 December 2017. Overall trading results (unaudited) for the underlying businesses (Healthcare services and ingenie) are expected to be broadly in line with expectations.

***View table via link BOP***

During 2017, we substantially completed the work to simplify and rationalise the Group involving the closure or disposal of loss making businesses and reducing the size and cost of the central overhead. The central team now comprises just three full time staff to assist Stefan Borson and Mark Williams, (the Executive directors) and the Board has been reduced in size. The full benefit of these changes will only be seen in 2018 but are expected to reduce the central costs by approximately 50%.


Overall net losses and expenses of over £6m suffered in 2017 have been extinguished as a result of the sale or closure of businesses and restructuring.

Cash and term deposits on 31 December 2017 totalled £62.8m (£67.2m as at 30 June 2017) excluding the £50.1m in escrow pending resolution or determination of the High Court claim issued by Slater and Gordon (UK) 1 Limited ("Slater and Gordon Claim").

Taking each of the remaining operating businesses in turn:

Healthcare services:

Healthcare services consists of our Canadian ptHealth clinics business and InnoCare. This business is growing, with revenue of approximately £29.7m for the year ended 31 December 2017 an increase of 6% vs. 2016. Whilst profitability is anticipated to be slightly ahead of 2016 in our core clinic business, overall profitability will be below 2016 after taking account of the continued investment we are making in the InnoCare software and services platforms and in our clinics.

In December 2017, Alan Torrie, an experienced Canadian executive, became Non-executive Chairman of ptHealth and will work closely with its Chief Executive Officer, Heather Shantora, and the Group in guiding its future path.

ingenie:

Whilst revenue for the year increased to £14.4m, ingenie had a challenging end to the year as the impact of changes to the Ogden discount rate created instability in young driver motor policy pricing. Reflecting this and continued investment in its technology platform, profitability will be marginally below 2016. The impact of these factors will extend into the first half of 2018 but the team has a detailed plan to address these challenges as well as targeting more new B2B business as the ANWB programme continues to perform well, endorsing our technology and market leading approach to road safety and motor insurance pricing.

In December 2017, Selim Cavanagh joined ingenie as Chief Executive Officer from LexisNexis Risk Solutions, where he held various senior roles including VP Telematics, VP Motor Insurance and MD of its Wunelli telematics business unit, after a background in consumer insurance at AXA UK. ingenie will benefit from Selim's 20 years of experience in delivering data, IT and research-based motor insurance solutions.

Discontinued - Hubio:

We have now completed the rationalisation, closure and sale of the Hubio businesses. We have sold Hubio Exchange in Canada and Hubio Fleet (subject to final contractual details) as well as Hubio Enterprise in Camberley.

Legacy matters:

The Slater and Gordon Claim is ongoing and we filed our defence in October 2017. Our position remains that Slater and Gordon's allegations of deceit and the associated breach of warranty claim are wholly without merit and should never have been advanced. During the year, we also strengthened the provision for legal costs in relation to this claim, reflecting our determination to robustly defend the action to trial. We continue to pursue any deferred consideration due from Slater and Gordon in respect of the disposal of the PSD.

The SFO investigation continues and we are cooperating fully. It remains the only regulatory inquiry to which the Group is subject.

There have been no further developments at this stage on the threatened (but not commenced) class action litigation first announced in September 2015.


2018 outlook:

The Group enters 2018 a far simpler business and we expect this year will be a period of re-focus and development for ptHealth and ingenie. Both will be encouraged to invest ambitiously but prudently without the distraction of potential corporate activity.

Central costs will be carefully managed at greatly reduced levels consistent with the unresolved legacy matters and the needs of the organisation.

http://www.moneyam.com/action/news/showArticle?id=5831119

Preliminary results for the year ended 31 December 2017

http://www.moneyam.com/action/news/showArticle?id=5949736