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GOR Gordon Dadds Group Plc

138.50
0.00 (0.00%)
Last Updated: 01:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Gordon Dadds Group Plc LSE:GOR London Ordinary Share GB00BZBY3Y09 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 138.50 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
136.00 141.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 138.50 GBX

Gordon Dadds (GOR) Latest News

Gordon Dadds News

Date Time Source Headline
28/4/202316:20UKREGInce Group PLC (The) Appointment of administrator and sale of business

Gordon Dadds (GOR) Discussions and Chat

Gordon Dadds Forums and Chat

Date Time Title Posts
12/8/201918:11::: GORDON DADDS ::: Law Firm on AIM182
03/8/201815:58Gordon Dadds (GOR) One to Watch on Tuesday 9
26/8/200701:24Gordian Investments-

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Gordon Dadds (GOR) Most Recent Trades

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Gordon Dadds (GOR) Top Chat Posts

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Posted at 25/7/2019 15:24 by spooky
Are these shares really cheap after you have deducted the partners profit share?
Posted at 11/7/2019 14:23 by chasbas
I've got the Arden research. I've read everything I can find on GOR's website. I've done some Googling and can't find anything wrong. Arden reckon its materially undervalued with a 2020E PER of 7x and a target price of 300p. Decent institutional shareholder base. Staff and management hold shares. I like the international angle (including KK/China) and cross-selling opportunities. I like the business model of a good back end in Cardiff doing all the admin, freeing up the lawyers to provide services paid by a % of fee income. It isn't actually 100% legal services. There's pensions, accounting, consulting etc. So I've opened a small position and will hold my breath that the results will be good (next week?). There will be exceptional charges concerning the Ince acquisition for the last year. To me its all about delivering on the revenue potential this year and getting the profit margin up. If the market starts to believe that the share price should go up. GLA
Posted at 06/2/2019 18:36 by gilston
Bid price marked down to 133p.this afternoon with 122,572 GD shares sold off today. This is a 5% discount to both the intended placement price & original 2017 subscription price.

Biles may now need [i.m.o] to offer some comfort to his shareholders before Monday`s g.m. votes required to ratify the placement.
Posted at 04/2/2019 17:35 by gilston
Adrian Biles has now completely trashed the Ince brand by his aggressive action. What commercial client will ever want to instruct whatever remains of this [allegedly] insolvent firm?

The GD share price sank by 5% last Friday after the disclosures in The Lawyer & elsewhere of commencement of legal action by 20 ex - Partners against the Administrators claiming £4.5m.

Not much value here for GD shareholders.
Posted at 25/1/2019 06:53 by jonwig
gopher - what most (all) PIs will notice is that their shareholding has fallen in value by 25%! And it begs the obvious question: if the placing was oversubscribed at 140p, wouldn't it still have succeeded at 150p, 160p?

In answer to your last question, the company probably approached its existing shareholders with, "We need to raise £X by lunchtime tomorrow, what price would you pay to get it away?"

The reasons given by the company for raising the cash don't convince me. As others have pointed out, there may have been unexpected problems with satisfying members' interests.
Posted at 24/1/2019 23:39 by gopher
Read the RNS - Announcement says bookbuild at minimum price of 140p, annoucement 2 say ovesubscibed and bookbuild closed. Announcement 3 says succesful at 140p.

I am not totally against this type of exercise, its cheap but it does disadvantage private investors who are excluded and is dilutive depending on the price discount say 6% in this isntance.

is it a poor sign they achieved only 140p or a good sign the bookbuild closed at 10:44 oversubscibed. No idea as not a city insider.
Posted at 07/1/2019 12:48 by acropolis1728
From the maritime trade press:

Gordon Dadds places Ince & Co into administration
Move taken on advice of consultants as part of the takeover process.
January 7th, 2019 10:11 GMT
by Adam Corbett

Gordon Dadds has placed Ince & Co into administration as part of its $35m acquisition of the 150-year old shipping and insurance law firm.

London-listed Gordon Dadds insists the move has been completed for “technical reasons”.

It stresses there is no suggestion Ince is not a going concern and the takeover is to go ahead as planned.

hxxps://static.tradewindsnews.com/incoming/article1665507.ece5/ALTERNATES/LANDSCAPE_600/2290b5f014b524c96a4c069d533c7db1
Gordon Dadds completes slim-lined Ince & Co takeover

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hxxps://static.tradewindsnews.com/incoming/article1652256.ece5/ALTERNATES/LANDSCAPE_600/5619d87fafe07813bf2c83b7d3dd0909
WFW hires former Ince & Co lawyers to launch Athens dispute practice

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hxxps://static.tradewindsnews.com/incoming/article1619363.ece5/ALTERNATES/LANDSCAPE_600/9e6d2ab74d14626aadde456ebbbb2b1b
How Gordon Dadds’ acquisition of Ince was made in Hong Kong

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Andrew Hoskins and Sean Bucknall of law firm Quantuma are reported to have been appointed administrators.

The takeover, first agreed in October this year, has been significantly restructured and it is understood Gordon Dadds has been advised not to take over Ince as a solvent business to guard against potential liabilities.

Such a move in the acquisition process is known as a pre-packed administration in which a buyer is lined up before an administration process begins.

It is understood the decision to put Ince into administration was taken because of uncertainty over income and balances owned from International offices to Ince, which presented a risk to investors.

In a statement to TradeWinds Gordon Dadds said: “Ince & Co could not agree the balances with their international offices – all Gordon Dadds wanted was certainty as to what those balances were.

“That situation definitely contributed to the advice they received from counsel in terms of protecting investors.”

The Gordon Dadds deal is the first time a London law firm has been taken over by a publicly quoted rival and is viewed as a considerable risk by investors because of the lack of material assets, TradeWinds is told.

The merged firm will operate as Ince Gordon Dadds (IGD).

Under the scaled down deal the price has been cut to £27.3m ($34.6m) a significant reduction on the price of £34.0m originally mooted, as TradeWinds reported last week.

The fee is payable in cash over four years as well as a grant of options in new shares.

The international offices of Ince International are not being acquired but have agreed to enter into new network arrangements and will continue to trade as Ince & Co.

However, Ince’s offices in Shanghai and Beijing will join IGD at the same time as the London operation.

The assets coming under Gordon Dadds control generated fees of £30.5m in the year ended 30 April 2018.

Total consideration is estimated at £27.3m payable in cash over four years and a grant of options over up to 3m new shares.

New borrowing facilities of £12.5m have been arranged.
Posted at 01/1/2019 19:09 by basem1
HNY Fellow investors and Lurkers. I missed that, I wonder if they were dutybound to inform the market in 2018. Under normal circumstances there are positives. I have nothing of note to add apart from the obvious. No dilutionStrong results. Earnings enhancing acquisitionMaiden interim dividend of note. I would suggest that an RNS like that would increase the share price in a company 90% of the time.
Posted at 29/11/2018 16:22 by basem1
Great news, I tried to find this information out earlier. Adrian Biles owns 26.5% of the shares, he's not going to anything too dilutive to the share price. Other family members also own around 6% too. Looking forward to the suspension lifting and results in the next couple of days.
Posted at 29/9/2018 17:18 by rosejs2
IC View
Gordon Dadds’ share price was 182p prior to suspension. It’s difficult to predict the terms of the potential merger, but we imagine the market will react positively if the deal proceeds. We remain bullish, awaiting the resumption of trading.

Last IC view: Buy, 173p, 2 Aug 2018
Gordon Dadds share price data is direct from the London Stock Exchange

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