Leeds Share Discussion Threads

[arthur_lame_stocks] 02/11/2004 10:26

Good spot Langland, i've been looking at their site lately hoping for an update.

I liked this bit:

"An open community meeting was held last month at the church hall in Strines. Over 100 residents turned out to hear about these new plans and voted overwhelmingly to support this application.

We are now waiting to hear the council's decision. (Expected towards the end of November)"

I think there is an excellent chance of them getting approval this time since the proposals have thhe approval of the local community.

And a decision is expected by the end of this month so not long to wait. Could we have some good news to come for a change.

I wonder how much extra consideration will be payable to Leeds. Malcolm Wilson told me it depended on how much of the site is developed so I presume it does not depend on density so perhaps we could get the full amount in cash which is about 4p a share.

Arthur

[andonis] 01/11/2004 21:08

Click and drag this wobbles....have fun...

[langland] 01/11/2004 19:43

Update dated today on the planning application. On the surface this would,at last, seem to have a fair following wind. Worth up to £1.45mn to LDSG if it goes ahead against a mkt. cap. of £5.31.

[stefield] 28/10/2004 10:39

Overbearing pride or presumption; arrogance
ok, i just looked it up, but i think its a bit harsh after you were slagging off my beloved GHH !!!

[stefield] 28/10/2004 10:36

come on cg, you know i had a very limited education, and don t understand fancy words !!!

[cg1953] 27/10/2004 18:19

stefield.
not publicly.

one word you should remember well.
HUBRIS
you sadly, are so full of it.

this counter has persistently mislead.
agreed.i am foolish for following it.

[arthur_lame_stocks] 27/10/2004 15:23

I feel like an idiot for buying them for 22p

[stefield] 27/10/2004 11:31

i remember someone calling me an idiot when i sold these at 19p !!!

[cg1953] 27/10/2004 11:21

another worrying decline in the share price !!! ?
more bad news on the way ?
its usually the case with this one.

[arthur_lame_stocks] 23/9/2004 10:08

Thanks guys but don't worry I wasn't sulking, I just noticed that I was the only one that had posted for weeks so I posted, the 'talking to myself comment' but it came up twice , so I edited the second one. Reading back it looks like I was having a bit of a tantrum but it wasn't like that honestly!!!

Let's face it this isn't the most exciting stock in the world, so there isn't that much to say, i'm just trying to keep myself busy.

I got a reply from Malcolm Wilson. apparantly the extra consideration depends on the number of acres of the site which gain planning permission, he said hopefully the picture will become clearer in the next few months and they might put something in the results.

Arthur

[cg1953] 23/9/2004 09:11

arthur.
watching and reading all your contributions with sincere gratitude.
i have held this stock as a 'value play' for over 5 years and at average cost of .40p+.
frankly, its given me brain damage and like their once ill named and fated subsidiary; it maybe my 'nemesis' !!!
stupidly, i thought in 98/99 they were doing and saying all the right things in liquidating/selling/reorganizing the textile bizness. somehow events/fraud/mismangement just seemed to overtake them.
what could go wrong; has seemingly gone wrong, and somehow the present management x bill cran[strange he resigned and then walked away from an mbo of the leasing biz???] does not inspire.
in april i thought here comes the final bid at .30p to put me out of my misery !!
then just weeks later, again, all the interest just evaporated as in ether.
maybe the swedes, who like me bought in at about the same time and price can redeem the situation, however i now doubt it.they would have done something long ago had they been able to.
thanks once again for your perseverance garnering information with this stock.

[chessfou] 22/9/2004 14:01

Definitely something strange with advfn/this thread.

Arthur, I saw none of your posts, nor any of the subsequent ones in my "latest list" until just now (and I have checked several times per day, at least, every day). Strange goings on.

[roomey] 22/9/2004 12:08

original application was for 117 houses and believe this would have triggered full payment

[roomey] 22/9/2004 12:08

original application was for 117 houses and believe this would have triggered full payment

[langland] 22/9/2004 11:13

Well done, Arthur, for finding the above... You are not typing to yourself but for some inexplicable reason your posts have not shown up on my screen till now. (I always keep a very close eye and since I started the thread, any post is highlighted in green).. Anyway, the Uk dyeing doesn't look a dead loss IMO. Also, I do think it fair to assume that the SARA people are backing Harrow on this one.. Sorry bit rushed now so will try and look in more detail this evening.
Once again.. well done..good bit of digging

[arthur_lame_stocks] 22/9/2004 11:02

Not just once but twice!

[arthur_lame_stocks] 22/9/2004 11:02

And i'm going to carry on typing to myself here.

[arthur_lame_stocks] 22/9/2004 11:01

The new planning application is in.

It is numbered DC016890 and is for 76 houses and two 'employment units'.

Is it reasonable to assume that the local residents association has agreed to these plans since they have been put in now, soon after they met to discuss Harrow's request for their approval?

I am going to e-mail Malcolm Wilson and ask him if he is aware of the plans and what, if any, consideration Leeds can expect if it is approved.



Arthur

[arthur_lame_stocks] 17/9/2004 17:32

I've been having a look at the UK dyeing division figures to try to see what if any chance LDSG have of getting their money back.

As far as I can see at the end pf Sep 03 (the last set of account filed at companies house) the company had oustanding debts of 4m Including the loan notes.

However only 850k of this was senior bank debt secured on all of the assets of the company the other 1.66m was discounted invoices which are secured by a floating charge against those debts. I'm not sure whether this is the case or not, however, It may be that the general charge the RBS has for "all sums due, or to become due" would also include this. If this is the case then RBS will need to be paid 2.5m before LDSG see a penny (or whatever debt is now outstanding).

So possibly the banks would only need another 850k before LDSG would be able to claim the rest of the property and fixed assets.

Property assets were valued at 660k and plant and machinery at 2.37m.

The Royal Bank of Scotland appears to have a charge over 4 properties at:

BUCCLEUCH MILLS, GLENESK ROAD, LANGHOLM
GALA MILLS, HUDDERSFIELD STREET, GALASHIELS
WATERSIDE MILLS, FORMERLY PART OF WAVERLEY MILLS, LANGHOLM
1254 SQYARE METRES AT ABBOTSFORD MILL, HUDDERSFIELD STREET, GALASHIELS

So I guess these are the freehold properties that the company owns.

Hope that's of interest to some. Perhaps we'll be able to find out more about the new planning proposals for the old Strines Printworks soon and find out what the financial effect of a positive outcome would be for Leeds.

Arthur

[arthur_lame_stocks] 17/9/2004 16:19

Board changes today. Basically more of the Swedish influence coming into the company.



"The Board believes that these changes will provide additional experience as the
Group's strategic options continue to be examined particularly in relation to
the leasing subsidiary.

I would be happy to see Leeds Leasing go for something near to it's NAV. I think this would also transform the appearance of the balance sheet as nearly all the gearing is held in Leeds Leasing.

Arthur

[arthur_lame_stocks] 07/9/2004 13:21

it's probably worth keeping an eye on the Stockport council site too to see if and when an application goes in. It should give some details of the proposal too.

I can't see anything there yet though.



Arthur

[langland] 05/9/2004 20:09

Arthur,
Yes saw it on the SARA site. It is also worth noting that the Strines property was sold over 2 years ago so the land value is probably at least 30% higher now. So, if they do get planning permission (inevitable in the long run) I would have thought there should be a good chance of getting the full £1.45mn.
While the tax rate may be higher, a demerger of Hemmers should release value for shareholders. I would have thought it should command a mkt cap of 6-7mn at least. Then Leeds Group could just be left with leasing and v small central costs and be considered a recovery play. Just my initial throughts.
regards L

[arthur_lame_stocks] 04/9/2004 15:02

langland

I have just looked at the SARA website and it appears that there are new proposals being put forward for development of the Strines site and the developer is asking for the support of the locals. Do you know any more about the proposals or did you also see this on the SARA site? It would be interesting to know exactly what the plans are and then we can ask LDSG how much they might get if planning permission is granted.

It may help a great deal if the locals are supportive of the plans too.

Perhaps Leeds could surprise on the upside next year for a change?

Arthur

p.s. The dual listing might not be a bad idea. I can't believe that that wouldn't realise a bit of value. Hemmers alone looks to be turning in 1m+ operating profit these days, it's got to be worth as much as the whole group on it's own although the tax rate is high in Germany at about 40% so i'm not sure if this affects the sort of price that businesses go for out there.

[poacher45] 03/9/2004 09:55

Bill Cran is just as greedy as the rest and made no positive contributions.
What we need is somebody who knows the leasing business and can sort it out.

[cg1953] 02/9/2004 18:21

accident prone ? is an understatement !!
this company has been a perenial disaster for over 5 years.
the finance director, malcolm wilson, left 'yor' shortly before it went belly up.come back bill cran since you are not going to pursue a buy-out.at least with him at the helm i for one will feel more secure.