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Lakehouse Share Discussion Threads
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|Creeping up now gents, I can smell 50p and beyond, in the air soon.|
|Write-up from iii.
Lakehouse man makes a million
Our resident stockpicker Edmond Jackson backed Lakehouse (LAKE) in August last year at 30p. It had just issued a third profits warning, but Edmond saw value and promise.
He was right, and the shares are currently up 46% at 44p. Then, a couple of months ago, Edmond suggested further gains were possible if "new management can navigate through choppy UK public services".
And earlier this month, there was news of a £39 million four-year metering contract in the West Midlands with Scottish Power. Executive chairman Bob Holt also confirmed that Lakehouse was performing in line with expectations and that he expected a strong second half performance.
It was interesting to read comments from finnCap analyst Guy Hewett after full-year results in January, when an under-performing property services division and carbon pricing reductions ruined profits.
Lakehouse appeared near the bottom of the broker's sector rankings, but Hewett pointed out that "strong returns could, of course, be made if any of these turn their fortunes around, and management has been changed at Lakehouse, Serco and Mitie."
There is potential here, then, but chief operating officer Michael McMahon has taken an opportunity to flog stock at close to a 10-month high.
Selling 2.5 million shares at 43p netted the founder of Everwarm, which Lakehouse bought in 2014, nearly £1.1 million. That's a minor setback for the bulls, but he still owns almost 5.5 million shares, or 3.5% of the business, so plenty of skin still in the game.|
|Starting to look very interesting.|
|Going through the annual report as I hope to make the AGM on Friday two things struck me.
The first was the length of the Directors' Remuneration Report 18 pages out of a total Annual Report of 120 pages-though I see last year it was also 18 pages.
The second was the length and detail of the auditor's report-9 pages in total. Cannot remember seeing an auditor's report of such length.|
|If McMahon's reasons for selling are personal and unconnected with Friday's vote to transfer to AIM or even with the reported fraud scandal concerning its work with Hackney Council, could there possibly be a more inopportune time to sell? Or perhaps now is in fact the time to sell? Remember, the shares floated at around 90p and despite an initial rise, fell heavily from there. I believe that some shareholders have far too much misplaced faith in this company in the hope their losses can be recovered.|
|I would presume its down to personal reasons for Mcmahon selling at this level ?
Lots of large share transactions at this level, over the last few months.|
|Note that Mr McMahon could sell down very elegantly by effectively selling to Harwood.|
|NT trade of 2.5 million at 43p. someone sold and someone bought.
I guess institutions again.
It was a director Michael McMahon selling and North Atlantic Smaller Companies Investment Trust PLC was the buyer.|
|Igoe, it nice to see the institutions buying. With a bit of luck I would like to see the share price trading over 50p which is not to much to ask for.|
|Looks like it was another institutional buyer, vfast.
North Atlantic Smaller Companies Investment Trust PLC|
|See the shareholder revolt at DX Group (dx.) to kick-out Bob Holt and a Non-Exec. Waiting to see him deliver here.|
|and despite the price rise you still don't pay your sub-contractors.|
|ORYX INTERNATIONAL again?
Or maybe another institutional buyer?|
|3 mill @ 43 ....|
|For me the pros and cons of being on AIM or the full list about equal and they have always had for me the feel of an AIM company.
My concern is that they ave important shareholders who either will not or cannot hold AIM shares and so exit and I assume/hope that the Board has covered this.|
|All looking good and a good decision to move to AIM it will reduce costs.|
|The base costs are higher to be listed on AIM than the full list. Terrible decision by the company, and normally based on reasons other than stated.|
|Agreed - an impressive Scottish Power contract win and a solid trading update:
"the Group is performing to the Board's expectations as a result of the strategic initiatives implemented in each division and we expect a strong second half performance from the Group as previously indicated."
The move to AIM will cut costs and enable quicker and cheaper corporate action and easier access to funding for such transactions. It's a good move.|
|Excellent update, under the circumstances it couldn't have been any better.|
|Could the move be down to costs as well ie. cheaper to have an AIM listing than full?|
|Trading going so well that we're... moving to AIM? Hmm.|
Lakehouse plc (LAKE)
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Tuesday 07 March, 2017
Proposed Delisting from Official List
RNS Number : 6787Y
07 March 2017
Tuesday 7 March 2017
THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO ANY JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION IS PROHIBITED
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
Lakehouse plc ("Lakehouse" or the "Company")
Proposed Delisting from Official List and Admission to AIM
Publication of Shareholder Circular and Notice of Annual General Meeting
Appointment of Stockdale Securities
· Proposed delisting from Official List
· Move to AIM
· Appointment of Stockdale Securities as sole broker (and proposed nominated adviser)
Proposed Delisting from Official List
The Board of Lakehouse is proposing to cancel the listing of the Company's ordinary shares of 10p each ("Ordinary Shares") from the premium segment of the Official List of the UK Listing Authority and from trading on the Main Market of London Stock Exchange plc ("LSE") (the "Delisting" or the "Cancellation") and to apply for admission for the Ordinary Shares to trading on AIM (the "Admission"). The Company has 157,527,103 Ordinary Shares in issue as at the date of this announcement. The ISIN is GB00BSKS1M86. The TIDM is LAKE.
Move to AIM
The Company is an asset and energy support services group which offers services within the Compliance, Energy, Property Services and Construction sectors with a focus on the UK public sector and regulated markets.
The Company has considered the structure of its businesses and operations with a view to identifying the most effective strategy to enable the Group to continue to deliver a quality service to its customers, whilst building a platform for more consistent performance and sustainable growth. This review has included consideration of the most appropriate trading platform for the Ordinary Shares on an ongoing basis.
Given the Company's size and strategy, the Board of the Company believes that there will be significant benefits from the proposed move to AIM, which will enable the Company to more effectively deliver value to all of its stakeholders, including Shareholders.
Notice of Annual General Meeting
Under the Listing Rules, the Delisting requires the Company to obtain the prior approval of not less than 75 per cent. of all Shareholders voting in person or by proxy at a general meeting. Accordingly, a circular (the "Circular") is expected to be posted to all shareholders today, 7 March 2017, incorporating a notice of the annual general meeting of the Company (the "Annual General Meeting" or "AGM") to be held at the offices of Eversheds Sutherland (International) LLP at 10.00 a.m. on 31 March 2017, which will include, amongst others, a resolution seeking Shareholder approval for the Cancellation and Admission. Subject to obtaining the requisite Shareholder approval at the AGM, it is expected that the Cancellation and Admission will occur at the same time on or around 2 May 2017.
Appointment of Stockdale Securities
Lakehouse has appointed Stockdale Securities as its sole broker with immediate effect. Stockdale Securities will also act as the Company's nominated adviser with effect from Admission.
Extracts from the letter from the Chairman contained within the Circular and the expected timetable of principal events are reproduced below. The Circular will be made available on the Company's website at
www.lakehouse.co.uk and shortly will be submitted to the National Storage Mechanism where it will be available at www.morningstar.co.uk/uk/nsm.
Telephone: 01708 758800
Bob Holt, Chairman (07778 798816)
Michael McMahon, Chief Operating Officer
Jeremy Simpson, Chief Financial Officer|
mrs fook mi
|ORYX INTERNATIONAL bought another million last week.
They appear to be picking up lose shares/small sells.|