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Litcomp Share Discussion Threads
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|Tough titty Nigel Wray - you can't win 'em all. Actually with Sarries you never seem to win anything lol!
|Should have gone to BAO like I did......almost doubled.|
|They reduced the requirement to 80% and that requirement has been achieved.
LGPixels, yes we would all have liked and deserved a imho fairer payout but it isn't going to happen.
I think you have to get real now, or as stegrego says you will have no offer atall soon to accept together with no market trading facility - less than 14 days left for you to decide.|
|Well they are going to delist - so good luck selling your shares after that!|
|still not got the 90% required, not over yet!|
|Offer unconditional = end of story.
Imho they got the company on the cheap, sadly, and small shareholders were helpless to stop it.|
|As at 30th September 2009
Tangible book value per share 75p
Book value per share 83p
Cash & Equivalents per share 36p
Therefore told my broker to reject the bid!
Whatever way you look at it 35p significantly undervalues the shares.|
|Just re-read that clarifying statement about the cash position.
What they need to do is put out another clarifying statement to clarify the statement they put out......because its about as clear as mud to me.
Just tell us straight, how much cash have you got in the coffers!|
Can't you read. It is a done deal. There will be no other bid. There is "no upside potential" it's worth 35p and that is all you will get.
If you don't accept all that will happen is the offer will get to 90% acceptances and then the company will undertake a compulsory purchase of your shares.
Best advise to you is get over it , accept the cash and move on.|
the big fella
|Happy to hold on and will not be giving my shares away easily!
There could even be a lot of upside potential in the stock, as I don't think the current offer will get enough shareholder support. If the current offer is only valued at net asset value, why would shareholder want to give the company away for free? The offer values Elite insurance at zero, which is growing rapidly and making around £2 million+ in profit annually. Any other shareholders who are not happy should reject the offer and hold out for a better deal.|
|Seems an age since I sold...since that announcement...............but its true about what can happen elsewhere with AIM stocks falling so much the last few weeks I know. Thats why I am waiting for my CYBIT cash...........|
|and with a lot of stocks correcting, a 6% loss could turn into a 10% loss if the stock you buy with the proceeds of your litcomp sale starts falling.|
|But a return of near 6% over c 2 weeks, hardly worth selling.|
the big fella
|I sold as soon as I heard the news they were selling out at the stupid price. Was dead money from that time and still is dead money until you sell or wait for the company to pay you............|
|Oh look its even cheaper than it was before!
Frigging farce this - Nigel Wray wants reaming out with a pnumatic drill.|
|Interim Results Clarificatory Announcement
RNS Number : 5937E
22 December 2009
22 December 2009
"LitComp" or "the Company"
Interim Results - Clarificatory Announcement
Following the announcement and publication of the Company's interim results for
the six months ended 30 September 2009 ("Interim Results") on 18 December 2009,
the Company makes the following clarificatory announcement.
Diluted earnings per ordinary share
The stated diluted earnings per Ordinary Share (pence) which appears on
pages 1,2 and 5 of the Interim Results for the six months ended 30 September
2009 of 3.43 pence per share should read 4.18 pence per share. As per Note 7 to
the Interim Results in order to calculate the diluted earnings per share the
earnings for the period should have been adjusted to account for convertible
loan note interest of GBP127,560.
Can't see how they made such a basic mistake. Most directors like to talk there companies up.........oh, i forgot, they are trying to buy it on the cheap!|
|And if they don't you may find yourself at some point with shares that aren't listed and therefore harder to trade.|
|If they get 90% you will have no choice as they will compulsory purchase your shares.|
the big fella
I see you feel quite strongly about this. How many LIN shares do you have? (you don't have to say if you don't want).|
|There is no way I am accepting the offer as I think it is a very bad deal for shareholders.|
torridon want 90% acceptances b4 they go unconditional. Shareholders should wait until then i reckon. No point in accepting early imo, you won't get your money any quicker; unless you sell in the market for 6% less.|
If the company has understated the cash balance in the offer document by £401,000, this would be a very serious matter.
"* Group cash balances were GBP2.301M (2008 GBP3.498M). (as at 30/09/09) according to results published today.
The offer doc says group cash balances were £1.9m as at 30/09/09."
The offer is still a long way of being unconditional and after these results would not expect any shareholder to vote for the takeover.
The shares are worth a lot more than the offer price and on a simple price earnings ratio of 7 the company would be worth 70p.|
LitComp 6-month Profit Up
Friday, LitComp Plc (LIN.L: News ) said its six-month pre-tax profit increased to GBP 913 thousand from GBP 877 thousand in the prior year period. Profit for the period after taxation rose to GBP 587 thousand from GBP 568 thousand in the year-ago period. Earnings per ordinary share for the period were 3.43 pence compared with 3.8 pence last year.|
I will avoid Nigel Wray related companies in the future.
He's stiffed us good and proper!|