Lakehouse Share Discussion Threads

[sharw] 18/4/2016 15:51

Specuvestor - when was the dividend cut? There has only been one (maiden) dividend from the date of listing to the financial year end (30/9/15) and the next period (to end March) will not be announced until May 17th.

[dlku] 18/4/2016 15:34

i wager that Rawlings will kick black out on his jacksie before christmas dinner is on the table

The bean counter will be out fairly sharpish

[specuvestor] 18/4/2016 15:30

The boarding party will now be agitating for a much higher dividend, possibly to the level it was before it was cut. Watch this space!

[igoe104] 18/4/2016 14:48

I now expect these to start to creep up, that's why I`ve been topping up.

[sharw] 18/4/2016 13:58

vfast "My guess is the LAKE directors knew they would lose..."

Agreed - the deadline for proxies was Friday afternoon so they would have known the figures from that. Looks as if the Chairman offered to fall on his sword if the other two non-execs were spared.

[vfast] 18/4/2016 13:06

100% agree Nurdin.

Even at the present forecast the share price looks like a bargain.

[nurdin] 18/4/2016 12:56

Dont forget the company has already said it will meet this years revised forecasts which puts the shares on a pe of just 4 ! Cant help feeling a rerating will come soon now that the new Board has been decided and in place.

[vfast] 18/4/2016 11:57

It looks like it's all over for now and Slater and Rawlings have got their guys on the board.

My guess is the LAKE directors knew they would lose the vote tomorrow and that has forced their hand, bowing out with some integrity intact.

Lets hope we see some positive progress in Q3/4

[nurdin] 18/4/2016 11:55

All nicely settled then ! Now the board can concentrate on getting the business back on track

[battlebus2] 13/4/2016 15:44

A lot of AT trades going through which appear to be on the buy side.

[masurenguy] 12/4/2016 11:04

"I'm not sure 'seasonal patterns' fully explains the c.£13+m cash outflow."

Therefore, vote in favour of the resolutions at next weeks EGM!

[dangersimpson2] 12/4/2016 10:35

I'm not sure this line gives a lot of confidence:

The Group remains well funded with over half of the Group's GBP50m banking facilities unutilised at 31 March 2016.

= £25m debt.

The facilities were un-utilised previously and they had £7m cash on 30th September 2015 and £21m cash on 31st March 2015.

We don't know the cash balance at 31st March 2016 but assume they wouldn't draw down the facility if they held large cash balances. They made c£30m acquisitions in year to 30th September & £12.2m in 2016H1. But in 15H1 they also generated £11m OCF. So I'm not sure 'seasonal patterns' fully explains the c.£13+m cash outflow.

[mr hangman] 12/4/2016 10:17

The house broker, so you can take that with a pinch of salt

[aishah] 12/4/2016 10:01

Peel Hunt reiterate BUY, 100p target

[masurenguy] 12/4/2016 09:25

The EGM is next week so this is probably the last chance for nominee shareholders to instruct their brokers to vote in favour of the resolutions proposed by Slater and Rawlings.

RNS Number : 8454U
Lakehouse plc
12 April 2016

Pre-Close Trading Statement

Lakehouse plc ("Lakehouse" or the "Group"), the leading asset and energy support services group serving customers in the UK outsourced public and regulated services sectors, is today providing an update on trading for the six months ended 31 March 2016. The Company remains on track to deliver the Board's revised expectations for the current financial year.

The Board has reported previously, in the trading update of 1 February 2016, that the Group encountered market headwinds in both its Regeneration and Energy Services divisions which have significantly impacted the business in the first half of the current financial year and in comparison to the comparative period last year. Since then, the Board has taken prompt action to get the business back on track in terms of delivering its revised expectations for the full year, recognising there will be a strong weighting towards the second half of the year.

The Group's cash flow generation during the first half has remained in line with seasonal patterns and the Board anticipates the full year position to be in line with its expectations. The Group remains well funded with over half of the Group's GBP50m banking facilities unutilised at 31 March 2016. The integration of the acquisitions made in 2015 remains well advanced and all are performing in line with our expectations. Lakehouse will announce its interim results on 17 May 2016.

Commenting on today's announcement, Chris Geoghegan, Non-executive Chairman of Lakehouse, said:"The Board continues to focus on running the business despite the ongoing disruption being caused by the Requisitionists' actions. We have faced challenging headwinds in the period but the Board remains confident in the Group's strategy and our ability to capitalise on future opportunities to profitably grow the business in the medium term. We have a strong business with great employees and I would like to thank them, along with our customers, suppliers and other stakeholders, for their support over the period."

[sharw] 08/4/2016 16:10

I have just been re-reading the various documents in the run-up to the EGM. In the circular it states:

"Your Board notes the relative lack of listed company board experience of Robert Legget".

I then read the biography of Jill Ainscough (NED proposed for removal). Her experience is given as Ofcom, BMJ, Sport England and Easynet. Only the latter was listed and as far as I can make out she was UK Managing Director and not on the main plc board.

A phrase about a pot and a kettle springs to mind.

[p155taking] 08/4/2016 08:50

when do we think this will all be sorted?
i wish i never bought any of these!

[boystown] 07/4/2016 20:24

"how is any investor ever going to go long on this stock" agreed - which, ironically, makes it the ideal stock to buy now as once this is all sorted and back on an even footing - the shares will be closer to a quid.

[vfast] 07/4/2016 20:10

Thanks David, I believe the changes are needed.

If the present NED's go that must put Black under pressure to go as well.

[strange1] 07/4/2016 19:38

What an absolute shambles. A trading statement out of the blue triggered by an 'event' like the loss of a contract is a fact of investment life. A trading statement within a short period of results mentioning general business headwinds is incompetence at its very best. They need to go........how is any investor ever going to go long on this stock.......

[davidosh] 07/4/2016 19:02

When I stated 35% of institutions....I meant the institutions who are 35% of the shareholders at Lakehouse.

[zho] 07/4/2016 18:00

Good report on Lakehouse David. Thank you.

[davidosh] 07/4/2016 17:01

I just mentioned the situation at Lakehouse on the Smallcap radio show

[azure8269] 05/4/2016 08:17

Voted for resolutions today via BSB. Very easy. Either the board hid the facts to give a good maiden result, or the board couldn't see a change in trend in their business 8 weeks before announcing. Either is equally worrying

[nurdin] 04/4/2016 13:34

Just instructed HL...