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.

Shame to write-off an investment.... but this has been in the old shed for years (=rusting away)... now, I guess we see it in full daylight for what it was... an old soap-box with 3 wonky-wheels and no string.

i have just read but not yet checked that this company has now folded

End of offer period
On 11 November 2016, in accordance with Rule 2.6(c) of the Takeover Code, Worthington Group plc ("Worthington") requested an extension of the deadline by which Nuna Minerals A/S ("Nuna") must, under Rule 2.6(a), announce either a firm intention to make an offer for Worthington or that it does not intend to make an offer. The Panel Executive agreed to this request and the deadline was extended to 5.00pm on 6 January 2017.

Nuna is engaged in bankruptcy proceedings and is under the control of an administrator appointed by the High Court in Greenland. Furthermore, following the winding up of Worthington by the High Court in England and Wales on 21 November 2016, Irvin Cohen and Mark Fry of Begbies Traynor were appointed Joint Liquidators of Worthington on 4 January 2017 by the Secretary of State. For any enquiries regarding the liquidation of Worthington please contact the Joint Liquidators' office on 020 7516 1500 or by email at london@begbies-traynor.com

Nuna has not made an announcement in relation to Worthington by the deadline of 5.00pm on 6 January 2017. In all the circumstances, the Panel Executive has confirmed that the offer period has now ended.

thanks harry
trust none of you got (badly) burned

I had £500 worth as a punt, so will just write that off.
I wonder at what point you can declare it on your tax return as a loss?
Presumably it has to de-list and the liquidators have to sign off the the last company audit?

your accountant will tell you

Might be of interest to WRN shareholders. Scroll down when on the link page.

http://nobleresolve.com/#progress-update

Thanks for that Harry I thought it was dead and buried.

DISTRIBUTION IN SPECIE
"We (Broker) have received information from Guildford Street Capital Ltd that they are proposing to gift Shares in Whetstone Capital Group plc to holders of Worthington Group plc which was placed in liquidation.
Whetstone is a new Company formed by Guildford Street Capital Ltd. The gift of Shares is not sanctioned by Worthington Group plc and is not a legal entitlement.
Upon receipt of further information regarding your entitlement we will send a further communication."

["In specie is a phrase describing the distribution of an asset in its present form, rather than selling it and distributing the cash proceeds. In specie distributions are made when cash is not readily available or allocating the physical asset is a better alternative than distributing cash. In specie originates from Latin and stands for "in its actual form."]

Assuming any holders are awarded Gift Shares, then WRN holding will now become Whetstone Capital Group on a 1 for 1 basis.

Even a promise from Whetstones brokers that 1 for 1 gifted shares would arrive last Friday didn’t happen. I think this one is unlikely to be anything other than a CGT loss to be used somewhere else. Sad, really, how a string of events pushed the original WRN into extinction. Or have I missed something?

USOil&Gas may provide a fresh opportunity. It should announce a spud date very soon since it’s drilling licences were awarded 3 months ago. It is a gamble although I think it has probably done enough already to put value on their acreage. It is difficult to buy shares in quantity due to the only market being made at the moment is on Assetmatch and the gulf in bid and offer prices shows the variance in views of value. A reasonable drill result would be spectacular because there are so few shares - under 60 million by my reckoning.

I use Equiniti and mine have been credited to my account. Not yet tradeable and book value has to be entered manually, otherwise happy with the outcome considering I had mentally written these off as duds a while ago.

Think they may be working alphabetically - in which case I have a long wait!

Just been told mine are on my account. Not much point trying to do anything with them - going to wait and see where this goes.