Leeds Share Discussion Threads

[arthur_lame_stocks] 27/9/2008 15:57

I've sent an email to Ewen Wigley today asking for a trading update at the year end (I might have left that a bit late now) and also asked that they don't invest any more cash unless it's in buybacks or things where there's some genuine synergy with Hemmers and i've also asked for a dividend.

I'll let you all know what response I get.

[the diviner] 26/9/2008 20:39

Since the directors only work part time for LDSG, I do not believe that we will receive quick replies to any emails or letters that we send. ( A delayed response is understandable given that they have not been helping themselves directly to our cash in the form of directors fees).

From the details in the LDSG website, the main directors are not near to retirement age. (They are only about 55 years old and I would not like the LDSG share price to continue to bumble along for the next 10 years).

There may be a way to encourage changes in the form of dividends and a rising share price or a bid.

From what I have read the directors are decent people and they are wealthy men; if we hassle them by asking questions, agitating for dividends and being willing to complain to the regulators about a suspected concert party, etc. that may encourage a bid in the next few months.

[arthur_lame_stocks] 26/9/2008 18:58

It looks like 140k sold and 160k crossed today. Is somebody trying to build a stake? Perhaps the company will have them next week.

[arthur_lame_stocks] 26/9/2008 18:57

I don't mind the investment in Hemmers, because I think it's justified, but EET? It's just the Swedes having a punt here and there with our cash.

[jonak] 25/9/2008 23:17

No reply yet....

[the diviner] 25/9/2008 19:13

By co-incidence I emailed LDSG earlier today and I asked/complained about;

(A). No dividend being paid to shareholders and the unenthusiastic and half hearted share buybacks.

(B). Shareholders money potentially being wasted on purchases and on continuing to build up Hemmers.

(C). The potential concert party.

(D). When they plan to bid for our shares?

The website can be found here.



Perhaps, we should all email and write to ask about dividends and what they plan to do to improve the share price

[jonak] 24/9/2008 22:40

Just e-mailed LDSG:

'Following the recent improvements in operations , when does Leeds Group plan to re-introduce a dividend ?'

lets see what comes back...

[jonak] 24/9/2008 22:29

well, strictly speaking you have a choice, just no option is pleasant or rewarding....
This is the downside of poor liquidity in a share.

The upside is that poor liquidity allows a large discrepancy between NAV and share price to exist ( ... and oh yes, I agree, a dividend or share price hike to reflect full value would be nice).

But this stock is becoming increasingly (if slowly) less liquid, as a result of the buybacks and the Scanwegian duo.

There are a lot of temptingly valued companies out there....

[the diviner] 24/9/2008 01:11

To me the really big issue is the lack of a dividend.

Buying back below NAV is a good thing but that should increase the share price and in the case of LDSG the share price has not risen. (Partly that is due to the lack of urgency and enthusiasm with regard to the buybacks).

If LDSG had paid us a dividend, out of the cash, (which it most certainly should have), that would prevent some of the cash from being wasted on silly ideas or new director reward schemes and a dividend would improve the share price overnight.

If LDSG paid a dividend and the share price increased holders would have a choice about staying and waiting and waiting and waiting, (while collecting a dividend), or leaving at par.

I could wait happily if I was receiving a dividend while I waited.

At present we do not get a choice and the only way to leave is to take a loss.

[jonak] 23/9/2008 23:56

Happy with these shares ?
compared with all my others, they've proved remarkably resilient to credit crunch effects.....

[deswalker] 23/9/2008 19:14

Arthur - agreed EET is/was ridiculous and hopefully they will be grilled about it at the next AGM (I'm planning on going next year as I should be in the country). By rights they ought to be much more reticent with their rash ideas as a result.

I'm not too unhappy with DWSN or the expansion of Hemmers. Obviously I'd have preferred the cash to be returned but the DWSN purchase is a useful strategic stake at a good level IMO and there does appear to be opportunities for Hemmers in Germany and Eastern Europe.

I would also like to see them being more aggressive with the buybacks but perhaps they think Hemmers and DWSN need a couple more years anyway and so there isn't an immediate rush to grab shares.

A frustrating investment but I still believe it will come good in due course.

[deswalker] 23/9/2008 17:57

Buyback. 50k at 17.5p. Close Period starts next week.

Diviner, IF we end up getting something close to NAV out of this share at some point in the next couple of years then it will have proved to be a very good investment during these troubled times.

Remember the main men aren't getting any younger. They have two choices, realize the value in a reasonable timeframe and enjoy the cash or take it private and hand it over to the next generation as a going concern. I could believe the latter if it was based in Sweden (where I'm assuming both men and families are based) but it's hard to imagine them & their kids wanting a long term stake in two companies based in industrial parts of Germany and Scotland (DWSN).

Consequently I still believe that they'll want to sell out in due course and for that reason the continuing buybacks are improving the value of my shares just as much as theirs. They've spent over £180k on buybacks since March.

Des

[the diviner] 23/9/2008 14:18

Is anyone happy with this share?

The LDSG price is dropping yet again because someone has sold/reduced his holding - I noticed because I was considering doing that myself. (There are a lot of buying opportunities in the market in shares that pay dividends and have a rising SP).

The PG controlled companies that I have bought appear to follow this pattern, bumbling along below the purchase price until holders give up and sell.

[deswalker] 06/9/2008 07:30

roomey,

The details on the other thread are up to date I'm afraid (8 holders, 654,300 shares, you the biggest). I was very disappointed with the disclosure level here on ADVFN which I suspect is by far the most active site for LDSG holders and so I didn't bother with TMF and iii. I assumed that regulars on those sites would also monitor here and hence would see my request. LDSG is never mentioned on TMF (which I follow closely) so any holders on that site would be very likely to come here to monitor the stock. I don't follow iii at all.

For some reason (that I can't understand) it appears many shareholders want to maintain their silence. However I may well try to reignite interest on this and other sites in the coming few weeks.

Please feel free to request disclosure on any sites you like and provide a link to my other thread. If anybody chooses to disclose on that thread then I shall be more than happy to keep record and update the header. At the moment we aren't getting very far with only 2-3% of the Voting Rights accounted for.

Rgds,

Des

[roomey] 05/9/2008 23:54

DesWalker just wondered how is your request for collective disclosure going did you get any joy from TMF, iii forums or e-mail what sort of %

[jonak] 05/9/2008 22:36

thnaks roomey, good link

[deswalker] 05/9/2008 13:04

Buyback. 50k at 17.5p.

[arthur_lame_stocks] 03/9/2008 16:27

Dawsons results are out today. Could be worse I suppose. Strong Euro will probably flatter the next set of results. I wonder if we can persuade the company to give us a trading update before the end of the year.

[cg1953] 22/8/2008 08:14

arthur.
a better idea would be to invite offers for ldsg !!! lol.

[arthur_lame_stocks] 21/8/2008 19:22

I wonder if now might be a good time to sell Hemmers, with the strength of the Euro we might get a good price in Sterling terms?

[clangor2] 21/8/2008 09:52

Yet another 48k salted away yesterday but still the share price refuses to budge .....