Leeds Share Discussion Threads

[spights] 28/12/2005 15:41

3---30,000-------------20.50pv21.50p---------10,000---1

[gumberr] 28/12/2005 11:19

although another alternative is to return 10p+/share to shareholders as a guess -this is more likely methinks!

[langland] 28/12/2005 11:16

The Hemmers family seem to run the business so it would make sense for them to buy it. Obvious stumbling block here would be the price they are prepared to pay.

[arthur_lame_stocks] 28/12/2005 11:05

Hi broker

I think Hemmers is probably worth at least its NAV of 4.5 - 5m. I know it doesn't have a 100% reliable record but it does look to me to be well managed. Costs have been cut and turnover is growing thanks to introducing new ranges including Disney, they clearly have some ideas for the business rather than just letting it plod on. An operating profit of 800k to 1m this year looks possible.

I don't worry about fraud here anymore than anywhere else, I trust Gyllenhammar in as much as I don't think he's dishonest in the way some are, even if he's out for himself first.

This would only ever go private if the Swedes wanted it to and I doubt they would pay a full price for it. It doesn't seem likely to me now, since I don't think there's enough upside in it to justify the cost and effort, assuming they offered 25-28p.

Sorry to here about Langbar, I stayed clear just because it all looked a bit too good to be true.

[tiredoldbroker] 28/12/2005 10:53

For all sorts of reasons, I haven't commented on LDSG for a while now. I suspect that it was simply too small to attract much support for an MBO from the financial institutions - why bother with Leeds, when you can do a deal like New Look instead ?

I think that the fair value must be 30p now, on the basis of Hemmers churning out a decent profit and the cash we hope is in the bank (I wasn't a holder of Langbar but it served to remind me, nothing is certain till the cash is in your personal bank account). But Hemmers doesn't have a 100% reliable record and I would be much happier if they could find a buyer for it at a reasonable price, sooner rather than later. I hope that most of the contingent issues from past disposals are now dropping away through time expiry, and my preferred result would be a liquidation.

[gumberr] 28/12/2005 10:53

I wouldn't be surprised if a MBO does happen.

[cg1953] 28/12/2005 10:33

arthur lame stocks
you are right.
however i retain a small position.
frankly,i became so concerned with 'management' last year, together with bill crans resignation and all the shenanigans.
if the stock had become so cheap then why didnt they do an mbo.
8 million quid is nothing these days !!!

[hugepants] 28/12/2005 10:17

Motley Fool post

[gumberr] 23/12/2005 11:21

Buy when its 30p even better! worth paying for quality stock.

[cockneyrebel] 23/12/2005 11:19

Let's hope so DreadedDarlek - I'd love a shedload more at that level. 15p cash in the business and a profitable business on top.

I'd like a load more at 20p myself

CR

[dreadeddalek] 23/12/2005 11:04

Looks like this is going to very very slowly drip back down towards 15p Ive got it on the radar and will be buying if it touches 16/17p offer.

[cockneyrebel] 22/12/2005 17:51

Yes, surely this is supposed to only go upward now!

Suspected there was a seller about late Tues when a broker filling my order came back and said the mm couldn't fill the all at 20K buy @ 20.5p but would let me have them at 21p when the spread was 21/22 just to let them go! I'd already filled it with my other broker so declined - never known an mm that generous with a tight stock uless there was stock about.

Expect a buzz up when the sellers done imo.

CR

[arthur_lame_stocks] 22/12/2005 16:42

Down again today.

Bah bloody humbug!

[stewjames] 21/12/2005 15:52

I stopped following it ages ago to be honest. I got 130p odd IIRC which I felt was pretty reasonable and gave me a very nice profit, so I've also been shocked by just how far it went!

[cockneyrebel] 21/12/2005 15:51

StewJames - SEG, yes, I actually made money on my best short from that high but I really ain't a shorter at heart, a bid and you get killed as with SEG at the moment. Without a bid I can't see how they would be where they are but that's the market!

CR

[arthur_lame_stocks] 21/12/2005 15:45

There's been no posts from cg1953. He must be kicking himself now, I think he persevered with this for yonks before selling out just before the Leasing disposal.

30p Is much more realistic, I can't understand why there is no interest in this over at the Fool, it's cash rich and profitable and great value on a sum of the parts basis.

[hugepants] 21/12/2005 14:38

Its annoying the offer price hasn't dropped more.

[stewjames] 21/12/2005 03:12

Hey CR, I was just thinking that every time I see you post I'm pretty much in agreement...then I remembered the one occasion where I wasn't. SEG...did you avoid getting too badly burnt by your short there?

[stewjames] 21/12/2005 03:11

LOL!

Personally it would make me more comfortable that an esteemed presence like HP is on board. ;-)

Mind you, CR has his moments too.

[hugepants] 20/12/2005 21:47

Oh give us a break!

sigora - 20 Dec'05 - 19:32 - 303 of 305

CR have you been in these for a while? from your views and opinions on other threads you are a highly intelligent poster, it always helps with people like you on board, if anything you sleep a lot better when you are in esteemed presence.

[sigora] 20/12/2005 20:22

My reason are exactly the same CR the downside from here is negligble, only a matter of time before the markets realise the value and the re-rating will occur.

[cockneyrebel] 20/12/2005 19:49

I don't know about intelligent let alone highly! :-)

I've been holding since mid Oct, bought in on the disposal news having waited on the sidelines for something to change here at the company.

I wouldn't hold just because I'm holding as I get stuff wrong too. However, I'd say the downside here is very limited with all that cash, assets and a business that's profitable and on a single digit PE whil ethe upside has to be 50% or more in not too long, say by May results if not sooner?

A long awaited realisation of value in this stock I think.

Good luck.

CR

[sigora] 20/12/2005 19:32

CR have you been in these for a while? from your views and opinions on other threads you are a highly intelligent poster, it always helps with people like you on board, if anything you sleep a lot better when you are in esteemed presence.

[cockneyrebel] 20/12/2005 19:21

Still a load of tax credits too so I think there's hardly any tax likely next year. Sould ba at least £1m profit after tax.

So probably on a PE of 8 for this year without stripping out any cash imo.

There's also 1.5% less shares around this year which adds a bit more to the EPS.

Interest charge should fall too I suspect.

30p looks a screamer imo.

CR