Leeds Share Discussion Threads

[baronet bill] 17/9/2024 08:49

The End
or is it.
I had to laugh [or cry] at the statement that came with the suspension.

The Board will continue to assess opportunities which could have the potential to increase shareholder value as they arise, e.g. looking at new leveraged property acquisitions or to return value to shareholders. !!!! ?
Given the record, probably best Not.

Talk about the destruction of shareholder value since the turn of the last century

[+eysenck] 04/9/2024 13:23

Corporate action required by the end of this month

[+eysenck] 08/7/2024 12:38

Two small trades in the last week or so have nudged the price up on each occasion. Things would have to go drastically wrong for the bake of the remaining assets to not be worth a lot more than the share price reflects

[+eysenck] 27/3/2024 10:44

That's done and dusted, and it'll be interesting to see how this plays out.

[russman] 27/12/2023 09:33

more titillating figures.

[checkers2] 17/12/2023 22:42

Clicking on menu of the companies website, user is intercepted with pornographic materials.

Is this their new marketing strategy?

[cjohn] 16/12/2023 14:53

Yes, if they sell the property and return cash, that will be a clearly better outcome for shareholders than persisting with a business too small to be profitable, complicated by the added running costs of a listing.

I've been happy to buy in post this RNS.

The best course of action, in my view, would be to de-list post the disposal and wind up the Company.

[russman] 16/12/2023 07:03

a reasonable outcome. salvage the property for minority.

[cjohn] 16/12/2023 03:23

langland15 Dec '23 - 12:09 - 215 of 217
0 1 0
Surely the properties have £5mn of loans secured against them?


No, the disposal doesn't work like that.

The sum of £600k-odd is payable for the Company's net assets, EXCEPT the three freehold properties.


The net assets INCLUDES all the Company's debt and working capital.

So what will be left after the acquisition is the freehold property worth around £5.2m and £600k-odd in cash minus the acquisition transaction costs.

Hemmers will pay the Company to go on leasing the three properties. This will cover running costs, whilst the Company either sells the freeholds or finds a RTO.

Current Market Cap is about £3m.

This is an obvious arbitrage situation.


PS All the above (minus the last two sentences) is clearly laid out in the RNS.

[coolen] 15/12/2023 13:37

Conchologists are back in the market, as evidenced by the doubling in the shares of DGI this month, so an incentive for Gyllenhammar to get this one clean perhaps. Wonder if it is DGI that has inspired him to look for this solution?

[eezymunny] 15/12/2023 12:18

"As at 31 May 2023, the net assets of Hemmers were approximately £5,352,000, excluding the three freehold properties currently held by Hemmers and the provision for the KMR bank guarantee", KMR guarantee is £347k. So about £5m (less losses since last balance sheet) assets sold for £600k-odd.

The buyer is getting a suspiciously good deal IMO :(

As astonishing collapse in value over the years...

[langland] 15/12/2023 12:09

Surely the properties have £5mn of loans secured against them?

[tabhair] 15/12/2023 10:56

A very disappointing end for shareholders. The only remaining business of the company will be sold leaving the company a shell that owns three properties worth just over £5m (or 20p a share). Any rent the company will get on those properties will be swallowed up by the costs to keep the company public.

[russman] 25/10/2023 05:44

considering their market, about right.

[callumross] 24/1/2023 14:45

Is it just me or were these interim results not as bad as expected. Still 40p NAV but shares virtually untradeable

[baronetbill] 29/12/2022 13:28

Zombie Company Now
Fortunately, I finally despaired in 2014 and exited at .34 pence.
Absolutely disgraceful what happened here.

[tabhair] 28/12/2022 21:26

NAV of 70p 5 years ago, down to 41p today after the hit taken due to the KMR insolvency.

No operating profit in 5 years now. With the business shrinking, I don't see how this is a viable listed company any more. The controlling shareholders aren't getting any younger here. When do they decide to just throw the towel in and take what they can get for the business? Jorg Hemmers resigning from the board may be an indication of change?

[russman] 29/7/2022 05:39

& what value has the warehouse now.

[russman] 11/1/2022 18:12

Warehouse has value.

[russman] 06/1/2022 17:53

crikey share price actually rose today.

[playful] 18/1/2021 23:16

Wouldn’t hold your breath!

[russman] 16/1/2021 06:53

Chairman would get my thanks if he revised LDSG long standing no dividend policy.

[baner] 15/1/2021 10:19

i believe we should all express our gratitude to the chairman mr holmstrom who clearly has taken a firm grip on the business -well done! with 55p+ of NAV and a good cash flow, the shares should run a long way from now.....

[playful] 15/1/2021 09:07

I did tell you