Watchstone Group

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Watchstone Group News

Watchstone sale of Canadian unit delayed until end of December
Fri 29 Nov 2019 07:13

Business management group Watchstone said Canadian subsidiary Quindell Services was still awaiting a final change of control consent to sell PT Healthcare Solutions and other businesses to LM Holdings. The parties had agreed to extend the long stop completion date for the deal to 31 December 2019 as they awaited final consent. Story provided by StockMarketWire.com
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Watchstone reaches settlement agreement with Slater & Gordon
Mon 21 Oct 2019 09:15

Technology company Watchstone said it had agreed to a settlement of claims made by Slater & Gordon, sending its shares surging. The settlement provided for £11m of the £50m currently held in escrow to be released to Slater & Gordon, Watchstone said. The balance of £39m and accrued interest would be released to Watchstone and no application for costs would be made by either party. The settlement was made without admission of liability by either party, Watchstone said. 'We are...
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Watchstone sells PT Healthcare Solutions for initial $36.2m
Tue 17 Sep 2019 09:34

Technology group Watchstone said Canadian subsidiary Quindell Services had agreed to sell subsidiary PT Healthcare Solutions for an initial sum of $36.2m (£22.3m) to LM Holdings. Quindell Services would be due a further up to C$0.8m (£0.5m), conditional on the business generating target revenues in the first year after its acquisition. Sale proceeds would be kept on deposit and managed prudently until a distribution to shareholders could be effected,' Watchstone said. 'As previously...
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Watchstone losses deepen as insurance unit drags
Wed 04 Sep 2019 07:46

Healthcare and insurance company Watchstone booked a deeper first-half loss after its insurance unit Ingenie faced 'difficult market conditions'. Pre-tax losses for the six months through June amounted to £7.3m, compared to losses of £3.5m on-year. Revenue fell 5.6% to £18.6m. The company did not declare an interim dividend. Trading results in the healthcare services division were flat, while Ebitda losses widened at Ingenie. 'Ingenie's retail business continued to face difficult market...
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Broker Forecast - Peel Hunt issues a broker note on Watchstone Group Plc
Thu 31 Jan 2019 08:30

Peel Hunt today reaffirms its add investment rating on Watchstone Group Plc (LON:WTG) and cut its price target to 120p (from 140p). Story provided by StockMarketWire.com Broker Forecasts data provided by www.sharesmagazine.co.uk
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Watchstone Group operating losses deepen; eyes more asset sales
Fri 27 Apr 2018 09:54

Insurance and healthcare company Watchstone Group said annual operating losses deepened following a rise in IT investment, falling policy prices and restructure costs. The company posted an operating loss of £7.4m, compared to £4.5m of red ink in 2016. Statutory net losses, however, narrowed to £2.6m, down from £69.1m in 2016. 'During 2017, we substantially completed the work to simplify and rationalise the group involving the closure or disposal of loss-making businesses and significantly...
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Broker Forecast - Peel Hunt issues a broker note on Watchstone Group Plc
Fri 26 Jan 2018 09:40

Peel Hunt today reaffirms its add investment rating on Watchstone Group Plc (LON:WTG) and cut its price target to 140p (from 162p). Story provided by StockMarketWire.com
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Watchstone underlying revenue edges higher
Fri 26 Jan 2018 07:49

Watchstone Group said overall trading results for its "underlying" businesses were expected to be broadly in line with expectations. Total revenue at its healthcare services and Ingenie business grew by a combined 2.6% to £41m. Another business, BAS, was sold, while Hubio was reclassified to a discontinued operation in the year and therefore were not included in the calculations. "Overall net losses and expenses of over £6m suffered in 2017 have been extinguished as a result of the sale...
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Watchstone confirms CEO appointment
Tue 02 Jan 2018 08:07

Watchstone Group confirmed the appointment of Stefan Borson as its new chief executive, replacing Indro Mukerjee. At 8:07am: (LON:WTG) Watchstone Group Plc share price was -0.63p at 110.25p Story provided by StockMarketWire.com
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Broker Forecast - Peel Hunt issues a broker note on Watchstone Group Plc
Wed 27 Sep 2017 08:20

Peel Hunt today reaffirms its add investment rating on Watchstone Group Plc (LON:WTG) and cut its price target to 162p (from 178p). Story provided by StockMarketWire.com
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Broker Forecast - Peel Hunt issues a broker note on Watchstone Group Plc
Thu 13 Jul 2017 08:00

Peel Hunt today reaffirms its add investment rating on Watchstone Group Plc (LON:WTG) and set its price target at 178p. Story provided by StockMarketWire.com
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Watchstone remains on track
Tue 27 Jun 2017 14:21

Watchstone said that the Company is on track with the strategy and execution of its plan to prepare the businesses for future disposals. It added that the potential divestments or any alternative strategic options will be determined with a view to maximising shareholder value taking all factors into consideration. Richard Rose, Non-executive Chairman, provided the additional detail in his Annual General Meeting statement: "With the stablisation and improvement of our operating businesses,...
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All resolutions passed at AGM of Watchstone
Tue 27 Jun 2017 14:16

Watchstone has confirmed that all resolutions were passed by shareholders at today's Annual General Meeting. At 2:16pm: (LON:WTG) Watchstone Group Plc share price was +2p at 142.25p Story provided by StockMarketWire.com
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Watchstone served with High Court proceedings
Wed 14 Jun 2017 07:19

Watchstone Group said, further to its announcements in November 2016 and May, that it has now been served with High Court proceedings issued by Slater and Gordon (UK) 1 Ltd for breach of warranty and/or fraudulent misrepresentation for a total amount of up to £637m plus interest in damages. "As previously detailed, Watchstone will defend such claims robustly," it said. Watchstone said it would make further announcements in due course, as appropriate. Story provided by StockMarketWire.com
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FLASH: Watchstone served with High Court proceedings
Wed 14 Jun 2017 07:04

Story provided by StockMarketWire.com
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Watchstone notes prospective c.£600m claim by Slater & Gordon
Thu 11 May 2017 07:28

Watchstone Group has now received further correspondence from a firm of solicitors acting for Slater & Gordon Ltd (SGH), stating it intends to issue proceedings for a claim of about £600m by the end of this month. Its letter stated that SGH intended to make a claim for a total amount of about £600m on the basis that but for allegedly "fraudulent misrepresentation" it would not have entered into the transaction at all. Watchstone said a "groundless claim for fraudulent misrepresentation...
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FLASH: Watchstone notes prospective c.£600m claim by Slater & Gordon
Thu 11 May 2017 07:10

Story provided by StockMarketWire.com
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Broker Forecast - Peel Hunt issues a broker note on Watchstone Group Plc
Thu 27 Apr 2017 11:10

Peel Hunt today reaffirms its buy investment rating on Watchstone Group Plc (LON:WTG) and cut its price target to 223p (from 290p). Story provided by StockMarketWire.com
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Watchstone's Hubio issues claim against Aviva Canada
Thu 16 Feb 2017 07:16

Watchstone Group subsidiary Hubio Solutions Inc has issued a claim in the Ontario Superior Court of Justice against Aviva Canada Inc for breach of contract and unpaid amounts due under an agreement dating from October 2014. Aviva Canada has notified Hubio that it has issued a claim against Hubio Solutions and Ingenie (Canada) Inc in respect of this agreement and otherwise. Watchstone said it was confident in the strength of the group's case and would defend any claim robustly. "The Group...
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FLASH: Watchstone's Hubio issues claim against Aviva Canada
Thu 16 Feb 2017 07:05

Story provided by StockMarketWire.com
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Broker Forecast - Peel Hunt issues a broker note on Watchstone Group Plc
Fri 27 Jan 2017 08:20

Peel Hunt today reaffirms its buy investment rating on Watchstone Group Plc (LON:WTG) and cut its price target to 270p (from 290p). Story provided by StockMarketWire.com
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Watchstone advises on FY 2017 adj. EBITDA
Thu 19 Jan 2017 07:53

Watchstone said its underlying FY 2017 EBITDA is not expected to be positive, citing the need for continued investment in new products and business lines. However, it said that for FY 2016 its overall trading results were expected to in line with market expectations, which were for minimum revenues of £55.5m and a maximum EBITDA loss of £14.9m. "We have made good progress in dealing with losses and those businesses that were not viable or non-core as well as developing profitable platforms...
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FLASH: Watchstone says FY 2016 trading seen in line
Thu 19 Jan 2017 07:08

Story provided by StockMarketWire.com
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Broker Forecast - Peel Hunt issues a broker note on Watchstone Group Plc
Mon 19 Sep 2016 11:20

Peel Hunt today reaffirms its buy investment rating on Watchstone Group Plc (LON:WTG) and cut its price target to 290p (from 315p). Story provided by StockMarketWire.com
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FTSE rises on miners, banks, house builders
Mon 19 Sep 2016 08:54

London stocks were began on the front foot with miners steamrolling ahead, supported by a cast of oil majors, banks and house builders, the latter gaining as UK house prices surged in September. Soon after the open, FTSE 100 was up 76.94 points, or 1.15%, to 6787.22, and FTSE 250 rose 89.92, or 0.5%, to 17,941.8. At 8.35am, WTI crude was up 1.67% to $43.75/bbl and Brent was up 1.49% to $46.45/bbl. Gold was ahead 0.83% to $1321.1/oz. Wall St was lower and Asia was mostly firmer. Miners were...
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Watchstone notes Slater & Gordon's claim intention
Mon 19 Sep 2016 07:23

Watchstone Group notes the announcement by Slater and Gordon Ltd advising it and/or Slater and Gordon (UK) 1 Ltd (together, SGH) intend to bring a claim against it arising from SGH UK's purchase of the company's professional services division in May 2015. Watchstone said it conducted a professional and transparent disposal process of the Professional Services Division assisted and advised by leading specialists. "In addition, Watchstone allowed SGH the opportunity to complete an extensive...
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FLASH: Watchstone notes Slater & Gordon's claim intention
Mon 19 Sep 2016 07:17

Story provided by StockMarketWire.com
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FLASH: Watchstone posts H1 underlying loss per share
Mon 19 Sep 2016 07:05

Story provided by StockMarketWire.com
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Watchstone Group narrows total H1 pretax loss
Fri 16 Sep 2016 07:33

Watchstone Group has recorded a total H1 loss before tax of £8.2m, from a loss of £32.3m. "e are now closer to a simplified group and expect the next six months to clarify a number of additional historic matters," the company said in a statement. "Operationally, we have some exciting opportunities to create value in our remaining businesses through a more focussed and realistic approach and particularly via organic growth and new product launches. "We remain determined to deploy resources...
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FLASH: Watchstone Group narrows total H1 pretax loss
Fri 16 Sep 2016 07:05

Story provided by StockMarketWire.com
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Broker Forecast - Peel Hunt issues a broker note on Watchstone Group Plc
Thu 30 Jun 2016 08:20

Peel Hunt today reaffirms its buy investment rating on Watchstone Group Plc (LON:WTG) and raised its price target to 315p (from 250p). Story provided by StockMarketWire.com
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Watchstone notes Navseeker litigation settlement approved
Tue 14 Jun 2016 07:18

Watchstone has now received the approval of the Court of Chancery of the State of Delaware regarding the settlement of litigation over Navseeker, a subsidiary of Hubio Solutions (HSL). The approval of the Court concludes the agreement of terms with the Plaintiffs for the settlement of litigation (Laurence Baker, et al. v. Hassan Sadiq, et al. and NavSeeker, Inc. C.A. No. 9464-VCL, Court of Chancery of the State of Delaware USA)("Litigation") and the associated acquisition of 11.67 per cent....
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FLASH: Watchstone notes Navseeker litigation settlement approved
Tue 14 Jun 2016 07:09

Story provided by StockMarketWire.com
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Broker Forecast - Peel Hunt issues a broker note on Watchstone Group Plc
Fri 27 May 2016 12:30

Peel Hunt today reaffirms its buy investment rating on Watchstone Group Plc (LON:WTG) and raised its price target to 250p (from 178p). Story provided by StockMarketWire.com
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Watchstone narrows FY pretax loss
Fri 27 May 2016 07:33

Watchstone Group has narrowed its FY pretax loss to GBP177.9m, from a loss of GBP205.3m, with revenue falling to GBP58.8m, from GBP60.1m. The results included a GBP113.5m impairment of goodwill and other intangible and non-cash assets, from GBP129.1m. "I believe we have made strong progress towards our key objectives in the last three quarters and there is demonstrable momentum in our ptHealth/InnoCare, ingenie and BAS businesses with a strong determination to continue to set Hubio and...
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FLASH: Watchstone narrows FY pretax loss
Fri 27 May 2016 07:03

Story provided by StockMarketWire.com
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Watchstone confirms approach
Mon 18 Apr 2016 14:51

Watchstone has noted the recent share price rise and can confirm it has recently received a draft and highly conditional, non-cash proposal from a private company for all of the assets (but excluding the actual and contingent liabilities) of the group. The board has rejected the draft proposal as being unworkable but the correspondence may or may not lead to a further proposal being made to the company. At 2:51pm: (LON:WTG) Watchstone Group Plc share price was +14.38p at 233.13p...
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Watchstone to sell Quintica Holdings for GBP1.35m
Mon 07 Mar 2016 07:43

Watchstone said that as part of its continuing programme of actions to strategically focus the Group on key growth areas, it has entered into an agreement to dispose of Quintica Holdings Limited for about GBP1.35m. It would sell it to Quintica International Holdings, a company owned by Charles Osburn, a statutory director of Quintica. In addition, Watchstone will be entitled to additional consideration in the event that Quintica is disposed of (in whole or part) by QIH in the year following...
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FLASH: Watchstone to sell Quintica Holdings for GBP1.35m
Mon 07 Mar 2016 07:14

Story provided by StockMarketWire.com
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WTG sells of property, maintenance svcs businesses
Fri 08 Jan 2016 07:51

Watchstone has disposed of its property and maintenance services businesses as part of a programme to strategically focus the group on its key growth areas. The Company's subsidiary Brand Extension (UK) Limited ("BEL") has entered into an agreement to dispose of the entire issued share capital of B.E. Insulated (UK) Limited ("BEI") and Carbon Reduction Company (UK) Limited ("CRC") for a nominal consideration of £1 to The BE Smart Group Limited (a company owned by Ben Williams, a statutory...
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FLASH: WTG sells of property, maintenance svcs businesses
Fri 08 Jan 2016 07:11

Story provided by StockMarketWire.com
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Director Deals - Watchstone Group Plc Ord 15p (WTG)
Mon 21 Dec 2015 17:20

Lord Howard, Non Executive Director, bought 12,608 shares in the company on the 21st December 2015 at a price of 196.00p. The Director now holds 12,608 shares. Story provided by StockMarketWire.com Director deals data provided by www.directorsholdings.com
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Director Deals - Watchstone Group Plc Ord 15p (WTG)
Mon 21 Dec 2015 17:20

Indro Mukerjee, Chief Executive Officer, bought 50,550 shares in the company on the 21st December 2015 at a price of 196.00p. The Director now holds 50,550 shares. Story provided by StockMarketWire.com Director deals data provided by www.directorsholdings.com
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Director Deals - Watchstone Group Plc Ord 15p (WTG)
Mon 21 Dec 2015 17:20

Mark Williams, Financial Director, bought 50,550 shares in the company on the 21st December 2015 at a price of 196.00p. The Director now holds 50,550 shares. Story provided by StockMarketWire.com Director deals data provided by www.directorsholdings.com
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Broker Forecast - Peel Hunt issues a broker note on Watchstone Group Plc Ord 15p
Mon 21 Dec 2015 09:30

Peel Hunt today initiates coverage of Watchstone Group Plc Ord 15p (LON:WTG) with a buy investment rating and price target of 178p. Story provided by StockMarketWire.com
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Watchstone shares resume trading
Mon 21 Dec 2015 09:24

Watchstone Group said, following approval of the Reduction of Capital and the Return of Capital and following shareholder approval of the Consolidation proposed at the General Meeting, the consolidation is now complete. All shareholders on the register at 6 p.m. on 18 December 2015 receive one Consolidated Ordinary Shares of 10 pence each with the new ISIN GB00BYNBFN51 for every 10 existing Ordinary Shares of 1 pence each (being the previous 15 pence nominal value less 14 pence Reduction of...
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FLASH: Watchstone's shares temporarily suspended
Wed 16 Dec 2015 07:15

Story provided by StockMarketWire.com
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