Lakehouse Share Discussion Threads

[onjohn] 02/8/2016 08:06

couldnt resist buying here, only a bit mind

[phowdo] 02/8/2016 08:06

phowdo - 17 May 2016 - 11:09:58 - 571 of 687
As the saying goes - profit warnings come in 3's.
The next one could be a doozy...

[paduardo] 02/8/2016 07:40

Well there is the 3rd warning. Now will be the time to buy. Note I bought after the first : (

[onjohn] 02/8/2016 07:26

youre not supposed to bother reading to the end

[edmondj] 02/8/2016 07:24

An oddly drafted update, not exactly helpful as regards underlying value. Starts off saying order book is in line, then crows about proven contract-winning ability, only to conclude the board is disappointed about the current financial year outlook... only this is all to do with one-off/non-recurring items! Signed off by Bob Holt... who is lauded as a public company professional?! You couldn't want for an update better able to confuse and frustrate as regards the underlying trend - which is key. Easy to assume, he's taken a look and is perturbed enough to hoist an outlook warning flag; but that may not altogether be true.

(No position in the stock.)

[funkmasterp12] 02/8/2016 07:21

Well I was just checking debt funnily enough. It looks to have increased c. £8m from the interims. That is concerning, cash is clearly flooding out though they do say there's a number of exceptionals.Hmm.

[funkmasterp12] 02/8/2016 07:16

Wow, this made a real mess of my annual StockChallenge entry and it looks as if it'll get worse short term!At some point this'll be a recovery play and a half, but clearly not now.

[bpc10] 02/8/2016 07:14

Another profit warning

[onjohn] 02/8/2016 07:07

The Group is disappointed to report that the outlook for the current financial year is significantly below its previous expectations.

[napoleon 14th] 27/7/2016 23:06

I hope Slater helps sort this out...

Patience, I guess, with a divi held (?) these look cheap.
Nice little B/O of downtrend.

[sharw] 26/7/2016 12:19

If instead of guessing you read the circular you will find:

Irrevocable undertakings
Each of Jeremy Simpson (Chief Financial Officer), Michael McMahon (Executive Director) and Steve Rawlings (Non-Executive Director) (and certain members of his immediate family) have irrevocably undertaken to vote, or procure the vote, in favour of the Resolutions at the General Meeting in respect of 42,244,152 Lakehouse Shares, in aggregate, representing 26.82 per cent. of the current issued share capital of the Company as at 21 July 2016, being the latest practicable date prior to the publication of this document.

In addition, certain other Lakehouse Shareholders (including Slater Investments Limited), have each irrevocably undertaken to vote, or procure the vote, in favour of the Resolutions at the General Meeting in respect of 25,187,558 Lakehouse Shares, in aggregate, representing 15.99 per cent. of the current issue share capital of the Company as at 21 July 2016, being the latest practicable date prior to the publication of this document.

Accordingly, therefore, the Company has procured irrevocable undertakings to vote, or procure the vote, in favour of the Resolutions at the General Meeting in respect of 67,431,710 Lakehouse Shares, in aggregate, representing 42.81 per cent. of the current issued share capital of the Company as at 21 July 2016, being the latest practicable date prior to the publication of this document.

[a0148009] 26/7/2016 11:36

Would hazard a guess that the undertaking was a proxy to the board which expired on his death.
AO

[ccraig69] 26/7/2016 08:37

I guess someone else will have the vote

[ramridge] 26/7/2016 08:36

Can anyone please explain the implication(s) of the irrevocable undertaking given by Rawlings lapsing? Good ? bad? (for shareholders)

[masurenguy] 26/7/2016 07:45

My condolences to the family of Steve Rawlings. I wonder what will happen to his 15.5% shareholding. If his beneficiaries decide to sell then I would assume that it will be placed with some institutions.

RNS Number : 1881F
Lakehouse plc
26 July 2016

Board Change and lapse of Irrevocable Undertaking

The Board of Lakehouse plc ('Lakehouse' or 'the Company') today announces the appointment of Mr Andrew Harrison as a Non-Executive Director of the Company. Mr Harrison had previously been acting as an Alternate Director for Mr Steven Rawlings since 3 June 2016.

The Company also announces that the Irrevocable Undertaking given by Mr Rawlings to vote in favour of all the Resolutions at the General Meeting of the Company to be held on 9 August 2016, lapsed on 23 July 2016. Mr Rawlings' shareholding in the Company was equal to 24,409,196 Ordinary Shares of the Company, representing 15.5% of the issued share capital of the Company as at 25 July 2016

[cerrito] 25/7/2016 21:17

Never met Steve Rawlings but I thought he was right on the money with his work on getting young females to join the construction industry. RIP
There will be-as blueliner says- the issue of his shares; furthermore as far as I can make out Stuart Black still has 3.47% and Sean Birrane 3.01% of the company and it will be interesting to see when they sell.

[igoe104] 25/7/2016 13:03

Lake could be taken over if steve shares fall in the wrong hands ?

[blueliner] 25/7/2016 10:20

Can't help speculating what will happen to the deceased founder's significant shareholding as a result of this mornings announcement. I am assuming it will be left to his beneficiaries. Then what next? .

[gucci] 25/7/2016 09:25

Im hoping to see 50p as the first stop here

[gucci] 25/7/2016 09:01

yes please do

[nurdin] 25/7/2016 08:40

No,enlighten us.

[dlku] 25/7/2016 08:17

La Maison du Lac limited - - anyone know about the money crossing from Lake to Maison?

[igoe104] 25/7/2016 07:59

I see what you mean, terrible luck.

Life can be so cruel.

[fft] 25/7/2016 07:07

Wow !

That explains why Steve wasn't attending any meetings and was appointing directors to take his place.

Many commiserations to his family.