Lionheart Share Discussion Threads

[hupper] 27/8/2003 13:24

Thanks very much Stewjames for that link, puts my mind at rest !

[stewjames] 27/8/2003 10:44

You've DEFINITELY not lost it all. Should get well over a quid/share back. The hold up at the moment is this spurious pension fund claim, probably made in the hope of grabbing some cash via a settlement to make it go away quickly. The receivers and major shareholders have decided not to go down this route...and quite right IMO.

Keep an eye out on this board



for posts from Wshak, a major shareholder who keeps in touch with the receivers and knows the state of play. This is his latest update:

[latifs100] 27/8/2003 10:22

so will i receive some cash at least, or have i lost it all? thanks in advance

[hupper] 21/7/2003 14:19

I would assume Sigma new all about this during the offer for Lionheart, surely their lawyers would have gone over the company with a fine toothcombe and found there was no case for a claim. I imagine the offer was so low due to the cost of defending any action.

Hupper

[stewjames] 16/7/2003 10:57

tiltonboy, I'd say it depends just how much of our cash we end up losing as to whether it's worth it or not. In any case, it looks like simple incompetence rather than anything malicious, doesn't it?

[tiltonboy] 16/7/2003 10:27

SKYSHIP,

I have already had concerned clients on, so your words are re-assuring. My copy will weedle it's way down from my nominee dept in the next day or so.

In view of the statements that have been made previously about the financial state of the company, by the directors, is there any action we can take against them?

Having said that there were no liabilities(or words to that effect)I would have thought we might have a case.

Any opinion out there.

tiltonboy

[skyship] 16/7/2003 10:09

I've received the first circular today - in essence no distribution yet in view of the potential liability for the Croydex pension deficit.

In fact the detail reads in less alarming fashion. Counsel's opinion is that the claim is spurious (my words!).

If you haven't received your copy of the circular - phone Simon Stibbons on 0207-694-3810.

[stewjames] 25/6/2003 13:16

Croydex sounds like a company in deep financial trouble who are clutching at LNT in an effort to keep themselves from drowning. The claim is ridiculous. Unfortunately, there's some chance they'll drag us down with them and leave KPMG and lawyers laughing all the way to the bank with our money. Annoying, but I'm probably long overdue one of these cash rich situations blowing up in my face!

[hupper] 24/6/2003 22:51

I thought it was going to take about 6 months or so before we see any money

[8 ball] 24/6/2003 21:49

I have not had any info yet.

Maybe a phone call is needed?

[roomey] 24/6/2003 14:55

anybody have any update as to progress

[8 ball] 10/6/2003 20:39

Thanks SKYSHIP

Nothing here either, would be nice to see some cash fairly soon.

[skyship] 10/6/2003 09:58

No, nothing yet - but I assume we should get some form of holding letter from the receivers before too long.

[8 ball] 30/5/2003 21:12

Has anyone had any information through yet?

[sleepy] 30/5/2003 11:11

Sigma shares now 10p.

Nice to see them getting their just desserts!

[8 ball] 08/5/2003 19:24

EGM went through OK, will just have to wait and see what we get.
I will be disappointed if it's less than £1.45

[skyracer] 08/5/2003 19:03

So thats it. 10% profit. Anybody around? I'll turn out the lights when I leave. Click.

[stewjames] 03/5/2003 20:52

fm27, probably not. There remains some risk, namely that the liquidation doesn't get voted through (unlikely) or that some unexpected nasty liabilities will surface hence the discount. Mostly though IMO, the lack of interest is because most small private investors spend their time chasing (and for the most part failing to catch) big gains and simply aren't interested in low risk 10-20% returns.

If you do want to buy, note you'll have to do so in the very near future. The shares will be suspended next Wednesday and delisted on Thursday if all goes according to plan (see the EGM RNS)

[fm27] 03/5/2003 19:15

O.K. So lets presume Lionhaert will go into liquidation, the return to shareholders, according to people on this board better informed than myself, is going to be about £1.50 / share after expenses. If this is right should'nt we all be buying more shares or am I being very nieve and missing something very obvious.......

[8 ball] 01/5/2003 19:05

Marked down today?

[8 ball] 20/4/2003 14:50

Anyone able to give an idea what the pension liability is likely to be.
10 employees out of just under 1000 would suggest 1% of £6 million.
However these 10 look to be above average earners, so lets say 5% as a max

That would suggest £300,000 Max

Rather a simple way of looking at it, anyone care to rip this figure apart?

[ben value] 17/4/2003 15:04

StewJames - thanks very much for the link. After reading it I thought I would buy a few more. Seems a pretty safe investment as long as the pension liability does not turn out to be excessive.

Regards

[stewjames] 17/4/2003 14:04

Handsel Ltd is just the holding company of a wealthy private investor. He's buying purely and simply because he see it as a very low risk 15-20% return.

[ben value] 17/4/2003 13:43

Does anyone know who Handsel Limited are and why they should buy 100,000 shares?