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.

Update in relation to possible merger

Pursuant to rule 2.6 (c) of the City Code on Takeovers and Mergers (the "Code"), the Company has requested a 28 day extension to the period of time whereby Nuna Minerals A/S ("Nuna") must, under Rule 2.6 (a) of the Code, either announce a firm intention to make an offer for the Company, or announce that it does not intend to make an offer. The Takeover Panel has consented to this extension. Therefore the deadline is now 5pm on 11th December.

The Company understands that progress is continuing to be made in relation to the proposed refinancing of Nuna by Greenland Mining Management Ltd and that a General Meeting of Nuna is expected to be called to put the refinancing proposals to shareholders.

There can be no certainty that these discussions will lead to an offer being made for the Company, nor as to the terms on which any offer may be made.

Sort of improvement on the last few extensions! It's anyone's guess as to the outcome. When I have spoken to DW way back during the previous suspension he came across as straight forward and sincere in what he is trying to do. Suspect that some of the previous bunch may be different. I am not holding my breath that December 11th will be the date on which this is resolved one way or the other. It's more bizarre than most shells I have ever been in and that is saying something when the list includes Belair Cosmetics!

StockMarketWire.com
Worthington Group has successfully requested a 28-day extension to the period of time in which Nuna Minerals must either announce a firm intention to make an offer, or announce it does not intend to.

The Takeover Panel has consented to this extension. Therefore the deadline is now 5pm on 8th January 2016.

The Company understands that progress is continuing to be made in relation to the proposed refinancing of Nuna by Greenland Mining Management Ltd, and that at the General Meeting of Nuna on 25th November 2015 the shareholders of Nuna approved the re-financing proposals.

There can be no certainty that these discussions will lead to an offer being made for the Company, nor as to the terms on which any offer may be made.

Suspect that 8/1/2016 will still not give sufficient time because Christmas shutdown may have an impact. Not much we can do. I would like to think that progress was being made on the other deals too - forlorn hope I suspect!

Yet another extension; so predictable. Given the volatile market it would not be surprising if a further extension into March is applied for. Assuming they do do some sort of deal and Doug Ware's comment about a substantial premium to the suspension price does become a reality (no matter how justified) then the play really is short sellers having to close out on a stock with little free market in the shares. That might be entertaining - and very profitable! But nothing is guaranteed where this stock is concerned.

8th January 2016

Update in relation to possible merger
Pursuant to rule 2.6 (c) of the City Code on Takeovers and Mergers (the "Code"), the Company has requested a 28 day extension to the period of time whereby Nuna Minerals A/S ("Nuna") must, under Rule 2.6 (a) of the Code, either announce a firm intention to make an offer for the Company, or announce that it does not intend to make an offer. The Takeover Panel has consented to this extension. Therefore the deadline is now 5pm on 5th February 2016.

Tomorrow is the day!!!!! We should all be rich!.....................I wish!

are you betting on yet another extension then?

Something like that, yes. I'm surprised the regulator allows this to carry on indefinitely.

One question for WRN is that the NUNA deal is just one of a series of deals they planned to do. In the last sixteen months whilst the stock has been suspended what, if anything, has been done to progress any of those deals, particularly the litigation settlement opportunity. They would have had time to do some of those; have they?

TAKEOVER
Pursuant to Rule 2.6 (c) of the City Code on Takeovers and Mergers, the Company has requested a 28 day extension to the period of time whereby Nuna Minerals a/s must, under Rule 2.6 (a) of the Code, either announce a firm intention to make an offer for the Company, or announce that it does not intend to make an offer. The Takeover Panel has consented to this extension. Therefore the deadline is now 1 April 2016. The Company understands that progress is continuing to be made in relation to the proposed refinancing of Nuna by Greenland Mining Management Ltd. There can be no certainty that these discussions will lead to an offer being made for the Company, nor as to the terms on which any offer may be made.

TAKEOVER
Pursuant to Rule 2.6 (c) of the City Code on Takeovers and Mergers, the Company has requested a 28 day extension to the period of time whereby Nuna Minerals A/S must, under Rule 2.6 (a) of the Code, either announce a firm intention to make an Offer for the Company, or announce that it does not intend to make an Offer. The Takeover Panel has consented to this extension. Therefore the deadline is now 5pm on 29 April 2016. The Company understands that progress has been made in relation to the proposed refinancing of Nuna by Greenland Mining Management Ltd. There can be no certainty that these discussions will lead to an Offer being made for the Company, nor as to the terms on which any Offer may be made.

29th April 2016
Update in relation to possible merger
Pursuant to Rule 2.6 (c) of the City Code on Takeovers and Mergers (the "Code"), the Company has requested a 28 day extension to the period of time whereby Nuna Minerals A/S ("Nuna") must, under Rule 2.6 (a) of the Code, either announce a firm intention to make an offer for the Company, or announce that it does not intend to make an offer. The Takeover Panel has consented to this extension. Therefore the deadline is now 5pm on 27th May 2016.

The Company understands that progress has been made in relation to the proposed refinancing of Nuna by Greenland Mining Management Ltd.

TAKEOVER
The Company has announced that pursuant to Rule 2.6 (c) of the City Code on Takeovers and Mergers, the Company has requested a 56 day extension to the period of time whereby Nuna Minerals A/S must, under Rule 2.6 (a) of the Code, either announce a firm intention to make an offer for the Company, or announce that it does not intend to make an offer.
The Takeover Panel has consented to this extension. Therefore the deadline is now 5.00pm on 22 July 2016. The Company understands that progress has been made in relation to the proposed refinancing of Nuna. There can be no certainty that these discussions will lead to an offer being made for the Company, nor as to the terms on which any offer may be made.

TAKEOVER
Pursuant to Rule 2.6 (c) of the City Code on Takeovers and Mergers, the Company has requested a 56 day extension to the period of time whereby Nuna Minerals A/S must, under Rule 2.6 (a) of the Code, either announce a firm intention to make an offer for the Company, or announce that it does not intend to make an offer.
The Takeover Panel has consented to this extension. Therefore the deadline is now 5pm on 16 September 2016. The Company notes that on 1 July 2016 the Court of Greenland ruled in favour of the bankruptcy petition claim made by the former CEO of Nuna, Mr Ole Christiansen. Pending the resolutions of the bankruptcy claim, the parties continue their ongoing discussions about a possible offer for the Company

POSSIBLE WINDING UP
The Company previously announced that Worthington`s Pension Fund, the "Jerome Group plc Retirement Benefits Plan", had resolved the legal dispute over GBP3 Million of the Scheme`s cash assets. Despite this the Pension Fund is still in substantial deficit. As Worthington is unable to complete the proposed Acquisitions itself, due to having no tradable shares with which to do so, the Company is not in a position to service the Company`s Pension Fund contributions on an ongoing basis.
In order to protect the pensioners` position, the Pension Fund will therefore need to enter the Pension Protection Fund so that existing pensioners will be paid in full, and deferred pensioners (i.e. those yet to retire) will receive 90 per cent of their pension entitlements. In order for the Pension Fund to qualify to enter the Pension Protection Fund, it is necessary forWorthington to go through a qualifying event. The Board of Directors have therefore decided to propose terms for a Company Voluntary Arrangement (CVA) with all creditors. At the General Meeting, the Company will seek the approval of Shareholders for the implementation of the CVA for the purposes of Rule 21.1 of the Takeover Code.
Due to the delays in the possible Takeover of Worthington, in order to secure the position for pensioners, the Pension Fund Trustees have had no alternative but to issue a Petition to Wind Up the Company, this Petition is due to be heard on the 24 October 2016.
The Board is of the view that these CVA proposals will now provide the best possible outcome for creditors, including pensioners, whilst also ensuring that the Company`s Shareholders are able to participate in the Company`s future success. It is therefore expected that the Petition hearing on the 24 October 2016 will be adjourned, in order to allow the proposal for the CVA to be put in place.

POSSIBLE WINDING UP
The Company has announced that the Court Hearing has been adjourned for 28 days to 21 November 2016.
The Company continues to make progress in respect of the proposed Company Voluntary Arrangement in anticipation of the Court Meeting scheduled for 21 November 2016 to hear the petition of the Pension Fund Trustees to wind up the Company.

TAKEOVER
Pursuant to Rule 2.6 (c) of the City Code on Takeovers and Mergers, Worthington Group has requested a 56 day extension to the period of time whereby Nuna Minerals A/S must, under Rule 2.6 (a) of the Code, either announce a firm intention to make an Offer for the Company, or announce that it does not intend to make an Offer. The Takeover Panel has consented to this extension. Therefore the deadline is now 5pm on 6 January 2017.
The Company continues to make progress in respect of the proposed Company Voluntary Agreement in anticipation of the Court Hearing scheduled for 21 November 2016 to hear the petition of the pension trustees to Wind Up the Company. The Company notes Nuna’s announcement that on 26 September 2016 the High Court of Greenland annulled the earlier bankruptcy ruling which ruled in favour of the bankruptcy petition claim made by the former CEO of Nuna, Mr. Ole Christiansen. The parties remain in contact about a possible Offer for Worthington Group. There can be no certainty that these discussions will lead to an Offer being made for the Company, nor as to the terms on which any Offer may be made.

POSSIBLE WINDING UP
The Company has announced that at the hearing at the High Court on 21 November 2016, The Pension Protection Fund (PPF) decided to reject the principal terms of Worthington`s proposed Company Voluntary Arrangement (CVA) and therefore the High Court issued a Winding Up Order against the Company.
The Company will be seeking a Judicial Review of the decision of the PPF, and the Company is in the process of lodging the required documentation to initiate this process. In the event that the Judicial Review is successful, the PPF will be required to accept the principal terms of the CVA and the Company would then be in a position to exit liquidation via its proposed CVA.
Whilst the Directors are considering what other options, if any, are available to the Company, the outcome of the review is considered, at this stage, to be key to the future of the Company.

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.