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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Lees Foods | LSE:LEE | London | Ordinary Share | GB00B09Y4116 | ORD 100P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.00 | 0.00% | 232.00 | 0.00 | 01:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| - | O | 0 | 232.00 | GBX |
Lees Foods (LEE) Share Charts1 Year Lees Foods Chart |
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1 Month Lees Foods Chart |
Intraday Lees Foods Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 30/1/2023 | 22:21 | Lee's Foods - highly profitable company | 357 |
| 29/9/2010 | 09:08 | Lees Foods plc | 55 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
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| Top Posts |
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Posted at 17/5/2012 12:16 by davidosh A refreshing report of a company AGM yesterday and complete contrast to LEE and the Board attitude here......They have no intention of delisting and Mr Leek (chairman) said he was totally against such shennanigans. Nobody on the Board or external shareholders is interested in adopting such a route and Mr Leek said he wouldn't stay as Chairman should anything like that start to be seriously considered. To quote him "it's not fair to shareholders". Mmmm |
Posted at 09/5/2012 07:49 by cwa1 Some Lees press from this morning....The Herald LEES Foods, is sitting on a £2 million cash pile after annual profits rose 4.4% to just shy of £1m, according to results published days before investors vote on an attempted management buyout of the Lanarkshire macaroon maker. The news of the cash load, which doubled in the course of last year, will heighten controversy over the £5.6m takeover bid which some investors claim is too low. The results, which the company agreed to publish after investor pressure, show sales of its products, which include snowballs and teacakes, rose 8.9% to £20.3m in the year to December 31 and The Scotsman who have an interesting take on a referal to the Takeover Panel by some David Stredder fellow of The Share Society :-).... Shareholders campaigning against the proposed management buy-out of Lees Foods have referred the company to the Takeover Panel over fees offered to the broker recommending the £5.6 million deal. ShareSoc argues that Shore Capital which made the recommendation because all the confectionery firm's non-executive directors are involved in the offer stands to be paid higher fees if the 230p-a-share deal is accepted. They say that means it is not independent, although it is understood the situation is not unusual. The Takeover Panel said it does not comment on specific cases. Many individual shareholders say the offer undervalues Coatbridge-based Lees and are demanding a price above 300p. David Stredder, a Lees shareholder who is also a director of ShareSoc, said the group believed it had enough investors on side to vote down the attempt to take the company private at a meeting later this month. |
Posted at 27/4/2012 16:46 by cwa1 Delighted to see some good press in The Scotsman today:-SHAREHOLDER group ShareSoc has formally launched on online campaign aimed at rallying together small investors opposed to the management buy-out of Lanarkshire-based confectionery specialist Lees Foods. The group is aiming to block the deal at the proposed price of 230p a share being offered by Randotte, the vehicle representing directors behind the buy-out. Most small investors logging their opposition to the deal at ShareSoc's website cited a price of 325p to 350p as a more reasonable offer. Lees shareholder David Stredder, who is also a director of ShareSoc, said: "All shareholders that I am aware of are unhappy with the offer because we don't feel it values the company where it ought to." |
Posted at 26/4/2012 12:21 by isis One way Directors could show they feel the Company is undervalued is perhaps buy some shares in the market?This would bring attention to the undervaluation and all holders would be appreciative. I see a Director of Fiske (FKE) bought a large stake today and the share price has risen 20%. Offering current holders the same price as the market price just doesn't seem to be in 'Everyone's' interests to me. |
Posted at 25/4/2012 17:40 by rubstic I am a long time holder of Lees, and I was guided to this site by my broker earlier this week. The Lees board was restructured in 2009, at a time when the share price had fallen below £1.00 per share. The share price has more than doubled since then. I have read the recent documents and make the following observation. If the bid is rejected, what exactly are we, as shareholders, left with? A management team that is likely to be de-motivated and who may well have enough shareholder support to de-list anyway, offering us no route to achieve certain value in the shares. The Shore Capital letter alludes to this as a risk - they could easily have the support of over 70% already to pursue this option. I, for one, have no interest in a holding in a private company, and no wish to be caught trying to offload shares in that scenario. |
Posted at 20/4/2012 16:27 by davidosh Beattie1....so you do not prefer a 100% return over two years or even holding longer term as this company is clearly on the growth and improving profit and dividend trend !What about an investor who bought a few weeks after you at £2.50 as it got to that price too ? He loses and has held nearly as long The fact is you saw the purchase as a punt ! I prefer to call all my holdings investments and I like to take a close interest in them and build them over a number of years. LEE is being stolen from me at far too low a price and many other private investors agree, as do external valuers, market commentators and even the advisors. The share price is even higher than £2.30 currently. If we allow this to happen here then it will move through the Aim small caps like a disease where other boards will see the low valuations as an excuse to jump the market at as low a premium as possible....A 2.7% premuium is LOW is it not ? Interesting headline today in the Herald... And so say all of us ! |
Posted at 20/4/2012 12:26 by davidosh You have to laugh at some of the management comments in this one...They said: "The management of Lees Foods believe that the proposal to return the company to private ownership is in the best long-term interests of the business. (so two fingers to the shareholders !) "The company are doing well and this should be seen as a positive move for management and workers." (but not of course for the long standing shareholders!) Shocking that they think they can get away with it at this price Coatbridge-based Lees Foods whose famous advertising slogan from the 1960s is "Lees, Lees, more if you please" are the parent company of Lees of Scotland and Waverley Bakers. Indeed, about £3.30 which is £1 more if you please and would be a starting point ! |
Posted at 13/4/2012 14:48 by davidosh Londons Evening Standard has picked up on the story today...Another AIM departure, and it's a sticky business... If you have never enjoyed the delights of a teacake or snowball confectionery or a macaroon bar, you have missed out on some of Scotland's culinary delights. And shortly you will no longer be able to invest in Lees Foods, maker of such wonderful comestibles. For Lees is one of those sad AIM-listed companies that is taking itself private. It joined the junior stock market back in 2005 with an admission of shares at 200p each. Its five directors have now bid a princely 230p a share to take it private. They and their supporters already have 70% of the shares, so the chances of them not making the 75% vote needed for the deal to go through are negligible. But the management buyout - backed by our own Lloyds Bank - does raise some questions. The offer document is scant on why the offer is being made and why it is good news for minority shareholders. Indeed, it appears to highlight the fact that Lees profits rose to a record £1 million last year. Why sell out now? Second, since the death of its chairman in February, Lees has had no non-executive directors. So the recommendation of the bid comes from the firm's nominated adviser, Shore Capital. This is the same firm of brokers that brought the company to market seven years ago and has advised it ever since. Surely some conflict of interest there. |
Posted at 12/4/2012 15:58 by masurenguy Looks like another BoD with an eye on the main chance ! RNS Number:1744O Lees Foods Plc 29 June 2005 Admission to AIM Group Nominated Adviser is Shore Capital & Corporate Limited and Broker is Shore Capital Stockbrokers Limited. The issued share capital on Admission is 2,011,751 Ordinary Shares capitalising the Group at £4.02m based on an indicative share price of £2 per share. Raymond Miquel CBE, Executive Chairman and Managing Director of Lees, said: "The admission to AIM marks a new phase in the growth and development of the Group and will enable us to access capital for growth as and when opportunities arise. It will raise the Company's profile, with customers, suppliers and potential candidates for acquisition and will create an objective market value for the business, potentially broadening the shareholder base and providing liquidity for the shares." So what has changed Raymond ? Incidentally, on listing the market cap reflected a PER of 12 and annual sales were circa £13m. They haven't published any full year accounts for 2011 yet (Hmmm..I wonder why !) but one might extrapolate sales of circa £20m and PAT of circa £550,000 from the interims. With net assets of £4.9m at the interims supplemented by the £500,000 tax rebate, the shareholders equity should now be circa £5.4m. So what is the MBO offer currently worth ? With circa 2,475,000 shares in issue the MBO offer of 230p per share is worth £5.7m, a premium of around £300,000 to existing shareholders equity. So what makes the BoD think that shareholders would be interested in that price ? Looks like a hostile bid might result in a much better deal for the external shareholders but would there still be jobs for the boys if any such bid was successful ? |
Posted at 12/4/2012 10:19 by cwa1 Fabulous piece in The Herald this morning, well done David :-))SMALL investor group ShareSoc is poised to launch a campaign against the attempted management buy-out of macaroon house Lees Foods for £5.6 million. Shareholder David Stredder, who is also a ShareSoc director, argues that Lees, famed for confectionary such as snowballs, is worth upwards of £3 a share and that the £2.30 bid on the table is tantamount to "stealing away" the company. The Herald revealed yesterday that institutional investor Unicorn also believes the cash offer from Lanarkshire-based Lees directors undervalues the company. Mr Stredder told The Herald: "I would have valued this company if someone external was taking a look at it, at something north of £3. "That suggests they are stealing it away. "It listed seven years ago at £2 a share. So an exit at 230p doesn't seem a very good return. It seems opportunistic." Won't post any more to avoid potential copyright issues but well worth a look. Great to see The Herald running with it, hopefully a few local holders will sit up and take notice now. |
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