UK 14:58 Monday, 26 October 2026
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Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
The Old Mother Worthington (WRN) comedy show rolls on. The worthless fully listed, but suspended since last year, enterprise has today been granted another 42 day extension to allow Danish listed but bankrupt Nuna Minerals to take it over.
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Comments
Bungler
A truly ridiculous situation, that date will take them to 11 months suspension. Nothing more than a sham this takeover panel move, it gives the impression to shareholders of “we tried to get a deal done” and essentially for them, they can give a wall of silence to shareholders on the basis that “they can’t liase during takeover period”.
Wait for the death RNS where they blame “media coverage” for the fact they won’t come back and then the “we will do all we can to get another listing” to prolong the shareholder misery,give them a glimmer of hope and stop the baacklash before going into liquidation.
Who are Greenland Mining Management really trying to ge a deal for? Worthington or Nanoq Resources?
Russell O'Callaghan
Bugger what “deals” they hope to clinch. Forget the future. Just simply try to find out what exactly this company is doing right here and now in the present. Use the various options, Google, Yahoo, Twitter etc and see what you come up with. I’ll tell you: nothing.
Whereas most firms fill as much of the ether as they can blowing their own trumpet about what they are up to among all their offshoots, in this case you’ll find …..nothing.
Then try to find who the middle-managers are that are underpinning and driving this “conglomerate” forward. You won’t find as many names as there are perhaps in your own modest businesses. Google Finance has them as employing…….one! He/she must be some hell of an executive juggling all those legal dealings, mining enterprises and media outlets. I’m surprised that he/she hasn’t been headhunted to run Apple on a part-time basis while holding down Secretariship of the United Nations, Presidency of the EU and sorting out the NHS when there’s a spare moment.
What a joke.
No commercial or industrial news for yonks, and yet this is a global “conglomerate”.
Can you really believe that when/if WRN recommences trading anyone with deep pockets is really lining up stamping their feet to buy in to it to the tune of millions?
Me neither.
turbograndad
Russ,
Share price , consequently nothing, hope your not invested, it was mentioned as a bargepole at the outset.
Russell O'Callaghan
No, TG, fortunately I’m not. I’ve just followed this one from the sidelines here and, very occasionally on LSE. For a “Global Player” there isn’t anywhere else that you can find anything out about this company at all ! Who’s ever heard of a company that has no prospectus, no ongoing website (blimey, even people who sell dog baskets and cat toys on e-Bay have websites)? Who’s ever heard of a company where you can’t find any information at all about jobs in their organisation? What company do you know which, if you wanted to buy any of its services or goods couldn’t produce any sort of price-list or even who to contact to get a quote?
In other words, TurboGrandad, you can’t find out what the blazes this firm does!! I don’t know how true this is but there even seems to be stuff out there distancing Worthington Media from the Worthington that we are talking about on here and yet there are often references on LSE to these two as if they were one and the same! Are they? Or aren’t they?
Where’s the boss of this firm? If you or I wanted to we could probably find out where the gaffer of Marks and Spencer or the CEO of RBS Bank is right at this very moment! But Worthington? No one’s seen or heard from him except for a few sound bites in MONTHS! Surely everyone that’s normal and who holds a stake in this is beginning to smell admiral’s pie? But not on LSE they’re not. For them this all seems perfectly normal as they hang on to their “golden tickets”. On their LSE website some shareholders are so positive about this company that you have to question whether these “posters” really exist or whether they are just company plants to keep the punters interested. Nobody else could surely believe that the world of hedge-funds and pension funds is just waiting for this outfit to re-emerge on some world exchange and then start bunging billions of pounds / kroner at it without having a clue what its money was being used for.
MrMoto
I feel something brewing at WRN this week. The story below has obviously been leaked to the press. I feel this could well be a diversion to avert the news that the Nuna deal will not be happening.
http://www.heraldscotland.com/news/13634356.display/
We go from Nuna/Greenland/reversals and now back to this unwinnable Rangers linked case again. Something fishy going on