Michael Edelson, serial director, and amongst other current directorships on the Board of Singer & Friedlander AIM3 VCT plc, has been appointed to the Board of WRN to assist Joe Dwek, current chairman, holder of over 17% of the equity and currently ubderwriting WRN's term loans, in seeking to merge, acquire or reverse WRN into a new business. WRN already has valuable property assets which have Change of Use potential, so the company might readily appeal to a private property company seeking a full listing.
The shares are thinly traded and have already responded to this recent appointment in anticipation that a deal will not be long in coming. The right deal should make this stock motor.

Apparently not!

StockMarketWire.com
Worthington says it is making good progress in its negotiations to acquire substantial new investments.

It is anticipated that these negotiations will be concluded shortly and that any associated fundraising will be completed at a significant premium to the company's share price at the date of suspension - reflecting the radically enhanced profitability and prospects of the company resulting from the transactions in question.

It has also been agreed that once the suspension of trading in the company's ordinary shares has been lifted in London, in addition to the commencement of trading in Frankfurt, the company's ordinary shares will also be traded in Stuttgart until 9 p.m. GMT each trading day.

This is in keeping with the company's policy to increase the volume of trading in, and therefore liquidity of, the company's ordinary shares - thus enabling the company to complete progressively larger transactions.

Chief executive Doug Ware said:"Having worked extremely hard over the last two years to secure the company's future and provide a platform for rapid growth, we are delighted that we are entering this new phase in the company's development. We are confident that the transactions under negotiation will not only radically enhance the company's prospects but, in terms of scale, allow the company to acquire and finance even larger, earnings enhancing and growth accelerating, investments over the coming year.

"I am very grateful to the Worthington acquisition team, headed by David Winduss, for the sterling work they have performed negotiating and progressing these investments and associated financing. We expect to be able to announce details of these transactions within the next two weeks."

It would be great, but of course entirely a coincidence, if these came back from suspension simultaneously with a number of positive announcements, wouldn't it?!!!!!! I don't think that I would like to be on a short position and have no sympathy for those that are.

Bought in just before suspension... I'm hoping for good things from this this coming week

24th November 2014
FOR IMMEDIATE RELEASE

Update

Further to the Company's announcement on 10th November, the Company will be applying to lift the suspension of trading in the Company's shares shortly and will be releasing details of the transactions at the same time.

Commenting on developments, Doug Ware CEO stated "we have used the period of suspension to advance major new investments which we believe will add greatly to shareholder value. We are therefore pleased that we will shortly be in a position to apply for trading in the Company's shares to be resumed"

We'll find out soon then as to what's happening..I just bought 2k shares @87p just before suspension so I'm looking forward to seeing what the SP will be on it's return to market!

from what i've read, you should be well in the money with those

skyhigh, good move. I did the same but had to pay slightly more. If the deals live up to the mgt's comments and there are a lot of short positions outstanding (anyone know if that is still correct?) then this should slingshot the sp much higher. From the company's Q&A sessions on their website I wouldn't blame them for making sure the detractors get burnt.

.

Looks like a possible re-listing this week. My hope is that that coincides with an update on the Rare Earth Metals venture. A sniff of that being a winner would put a rocket under the sp.

Could be an exciting New Year!!






Statement from Doug Ware CEO re the restoration of trading in the Company’s shares

Monday December 22nd 2014

We are keen for the restoration of trading to take place as soon as possible so that we can complete a number of important transactions.

Whilst we would like trading to recommence as soon as possible, we are currently consulting with the FCA in relation to ten transactions and so understand that, whilst the FCA are being as efficient as possible, we may need to be a little more patient. We expect to hear further before the New Year.

Assuming that the FCA agree with us that none of the transactions involve an RTO, we will be well placed to complete these and other transactions, using the same structures in future. To that extent, the period of suspension to clarify these points, and finalise key investments, will prove to have been in the best ongoing interests of shareholders as we progress our plans to build a successful global investment company.

Doug Ware, CEO

Interesting RNS today and predictions. Hope these come good in the way envisaged by the company's mgt. If so, this will be 'share of the year 2015'. Looking forward to being made very happy by it!

Good luck everyone.

tasty rns - fantastic

there'll certainly be a bob or two to be made if you're quick enough

It should be exciting to watch trading start on four different markets.


Frankfurt - opens at 8.00am ( which is 7.00am our time ) until 7.00pm OUR TIME.

Stuttgart - opens at 8.00 am ( which is 7.00am our time. ) until 9.00pm OUR TIME.

London, 8.00am until 4.30 pm

New York. OUR TIME = 2.30pm until 9.00pm.

Update
Further to the company's announcement on 12th December 2014, the FCA have now issued the company with guidance in relation to the transactions that the company asked the FCA to review pursuant to Listing Rule 5.6.4 (Reverse Takeovers). In the opinion of the FCA, following these acquisitions, the Company is, or will be, a fundamentally different business and therefore the transactions constitute a reverse takeover. Whilst the Company believes the arguments are finely balanced (in the Company's view, Worthington was an investment business prior to the transactions and will remain one following the transactions), the Company respects the FCA's view on this. Therefore, the Company's original request to suspend trading in the Company's shares remains in place pending a re-application for listing of the Company's shares and the issue of a prospectus.

The Company has already begun work on the prospectus and will seek to complete it as soon as possible. Once completed, and the application submitted, shares are expected to subsequently resume trading in London and also be traded in Frankfurt, Stuttgart and New York.

Following successful completion of the acquisitions, the Company will have substantial interests in litigation funding, media, clean energy, mining, oil and gas and property. Geographically, the Company will have significant investments in the United Kingdom, Australasia, Africa, North America, and India. Consolidated net assets of the group, following conversion of loan notes used to finance investments and before minority interests, are expected to exceed US $2 billion and generate net profits in excess of US $20 million in the first full year following acquisition, with substantial growth expected thereafter. Net assets per share, after financing costs and on a fully diluted basis, are expected to substantially exceed £5 per Worthington ordinary share.

The Company is in the process of preparing its audited accounts to 30th September 2014 and expects to hold its AGM towards the end of March 2015. The AGM notice and accounts will be available on the Company's website in due course.

Commenting on the news, Doug Ware CEO commented "Whilst ideally we would have liked to avoid triggering a reverse takeover, we respect the FCA's decision and will press ahead with completion of the Company's prospectus. I'm delighted with the progress that we have been able to make with these acquisitions and our pipeline of investments continues to grow. I would like to express my thanks to our shareholders for their patience and support during this process. In addition to these investments, the acquisition team will continue to progress new transactions which we believe will add further to shareholder value but which, once having produced the prospectus, will not trigger any future RTOs."

£5 + really, this must be some deal.

StockMarketWire.com
Worthington Group has decided not to proceed with an investment in CPS Energy Resources and confirms any such investment was not included in the company's calculation of consolidated assets, profits, sectors or geographic locations announced Jan. 9.

Announcement of Results
The Company will be releasing its results for the year ended 30th September 2014 in March 2015. This will coincide with the publication of the proposed prospectus and the calling of an AGM.