Share Name Share Symbol Market Type Share ISIN Share Description
Leeds Group Plc LSE:LDSG London Ordinary Share GB0005100606 ORD 12P
  Price Change % Change Share Price Shares Traded Last Trade
  +0.00p +0.00% 20.00p 5,000 08:00:00
Bid Price Offer Price High Price Low Price Open Price
17.00p 23.00p 20.00p 20.00p 20.00p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 41.54 0.89 2.00 10.0 5.5

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Date Time Title Posts
26/3/201911:10Leeds Group - Small Shareholdings162
08/1/201318:36Leeds Group- leading to a capital return1,299
26/10/200712:43Leeds Group is cheapest share on AIM4
15/6/200615:02Leeds with Charts & News-
26/1/200615:22A `considerable degree of confidence'1

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Leeds Daily Update: Leeds Group Plc is listed in the General Financial sector of the London Stock Exchange with ticker LDSG. The last closing price for Leeds was 20p.
Leeds Group Plc has a 4 week average price of 20p and a 12 week average price of 19.50p.
The 1 year high share price is 32p while the 1 year low share price is currently 19.50p.
There are currently 27,320,843 shares in issue and the average daily traded volume is 352 shares. The market capitalisation of Leeds Group Plc is £5,464,168.60.
russman: The share price will languish until BoD give minorities "something".
russman: It is the track record that causes the share price to slumber.
tiredoldbroker: Bit of a tick up in the share price over the last 48 hours, not heard anything.....
baronet: Thought this thread had gone permanently to sleep, like the share price...LOL
baronet: Excellent 'trading results', but impossible to reason what will get this share price closer to asset value [.49pence] while the 'Swedes' remain disinterested or speculating on how to lose more value with ill considered investments !!!
liarspoker: A bit of exchange rate worry here I'd say. Looking forward to buying in when the share price is much lower. :O) ( ex-holder )
deswalker: Well I'm back from the AGM so here's my report ... Attendees: JC, PG, Ewan Wigley, Malcolm Wilson, two from Seymour Pierce, one from auditors, one from solicitors, four small shareholders, one unknown. Formal business, statement read out then quite a lot of questioning from the small shareholders. Buyback Authority Why 3,200,000 authority ? Because it gets JC up to 29.99% and things change after that. Nothing we didn't know there. Yeadon Slow progress but there are a couple of small bits of good news. Firstly, they were waiting on a similar case elsewhere in the country as a sort of precedent. This has either gone or is going in our favour. Secondly, we were due to have a court hearing last month but we canceled it because something has happened in our favour that has made us change tack a little and resubmit the claim. This is not the same as the precedent above but EW didn't specify what it was. Slow but certainly not dead. EET Disquiet from all small shareholders about this. JC said it was a mistaken investment and was bought as a € denominated cash cow. I asked whether they had viewed this as an investment or whether it was to gain some influence at EET in the subsequent restructuring. They said that it was the former as buying 1% of EET wasn't going to get any influence. Fair enough I agree but thought I'd ask anyway. We've bought more in the recent restructuring and JC is confident that we should get some if not all of our money back. Hemmers Very little said. Afterwards I asked PG about it and the possibility of a sale. He said that JC spends much time working on it (for a pittance) purely because he is a shareholder. That small shareholders were getting a good deal as a result. That Jorg Hemmers is a great guy and that a sale might be possible in the future when it has put on a bit more size, was sweating its working capital more efficiently (too much stock) and when the economic situation improves. Make of that what you will. DWSN Disquiet from one vociferous shareholder (see below) but the Directors were bemused at this and stayed tight lipped. They gave the impression that they were very happy with events at DWSN. Nothing was said about any corporate action over there. Afterwards I asked PG about the pension deficit and he said it was a concern but overall they give the impression of being very happy with that investment. The Shareholder One particular shareholder who was formerly on the LDSG board for 30 years and has sat on a lot of shares for decades was very disilusioned with how things are going. He travelled from the south of England and asked numerous questions. Q Why EW has no shares ? A Wants to avoid a conflict of interests as he's doing the buybacks (!?) Q Why no dividend, share price performance terrible ... A buybacks are returning funds to shareholders, share price would be lower if not, look at elsewhere on AIM, company being run very efficiently (JC and PG taking very little money), things much better than in your day etc etc His reply ... the share price was £3 then, it's 15p now. yadayadayada ... Q Said he couldn't even find EET anywhere in the FT or Telegraph pages ? No answer My Question A lengthy discussion along the lines of ... - What can you say to small shareholders to convince them that your interests are alligned with theirs ? - Effect of buybacks is to increase control - Why is the buying volume of this share just about the lowest on the entire market ? Why do you think private investors aren't interested ? - Are shareholders right to be concerned about MBO or delisting ? - Saying that you're providing liquidity at 14.5p isn't the same as working for the benefit of all shareholders. You get the idea ... The replies ... - Yes we are alligned with small shareholders. share price would be much lower without buybacks. - No answer to the lack of buying interest in the shares. PG suggested that maybe I should try and convince PI's otherwise. I said that was crazy and that a clear statement of intent from management would work wonders. - JC said that a delisting could have been effected long before now if they so wish. He also stated that there were heated discussions between him and PG about things and that they weren't always singing from the same hymn sheet. (Cynical me wonders if that might have been said for the crowd of lawyers, accountants and analysts in the room etc or it might actually be the case). - JC wouldn't discount any possibiity of taking it private in the future. But neither would I in his situation. Anyway, a good discussion. Afterwards PG said to me that it was tough questioning because it was challenging their integrity. I said we were adults and that I'd expect him to do the same if positions were reversed. He emphasised once again that they were acting for all shareholders. Two final points. EW seemed to think (or at least he said) that it wasn't possible for him to buyback more aggressively because he's not allowed to influence the price. I know the AGM resolutions talk of the maximum price payable as being linked to the current share price but I don't know why this should be so and instead can't be fixed to a particular discount to NAV like for investment trusts. It's the first I've heard of not being allowed to manipulate the price though. Surely that's what buybacks do in other shares ? I told the Diretors that I watched the share closely, that the lack of buying interest spoke volumes and that if JC and PG only owned 10-15% between them then the share price would be double its current level. Another small shareholder (who seemed the most happy of all of us) said he totally disagreed with that view. Anyway, that's my brain dump. Make of it what you will. On balance I am more optimistic about the fundamentals of the company and marginally more comfortable with the management structure having spoken to JC and PG in the flesh. The trouble is that it is easy for them to say they are currently working for shareholders whilst implicitly keeping all options open. In their position I would probably do the same. Rgds, Des
the diviner: I have received a reply to the email that I sent and I have reproduced the gist of it below with the questions that I sent in italics between the replies. Dear Mr TD, Thank you for your e-mail and I also apologise for the delay in picking it up and responding to you. Addressing the points you make, I would respond as follows: I asked (1). No dividend has been paid to shareholders. We are very unhappy with the lack of a dividend and we would like to know when a dividend will be paid to LDSG shareholders. The LDSG share price has just drifted lower and lower and part of the reason for that is the lack of a dividend. (The unenthusiastic and half hearted share buybacks have done little to improve the LDSG share price). And he answered · Since the sale of Leeds Leasing, which led to the positive cash position at Group level, the Board of Leeds Group has been consistent in its message that it would seek to reinvest the funds to generate long-term capital growth. In the light of that policy the Company has stated that it would not be paying a dividend but seek to reinvest the funds. That remains the policy of the Company today. Alongside this we proposed a share buy-back programme because it benefited both those shareholders who decided they wanted to sell their shares and take their cash, and the remaining shareholders. · You refer to the share buyback programme being "unenthusiastic and half hearted". The Company has bought almost 19% of its shares back since the first authority was granted, all to the benefit of remaining shareholders. The company has been an active buyer whenever the regulatory and legal rules permit. The Board shares your disappointment that the share price has not responded more positively, but is of the view that without the buy backs, the share price would have been much lower. I asked (2). Shareholder money may have been wasted. Instead of returning the spare cash to shareholders, (which is what most shareholders would have preferred had we been asked), the directors decided to buy stuff and to continue to pump money into Hemmers. (A concern is that some of the money may have been spent on items that are interconnected with the directors which is unusual. Also, the money that is being pumped into Hemmers may just enable a low price management buyout that is of no benefit to smaller shareholders). And he answered · The Board does not share your view that the investments we have made are wasted. In the case of Hemmers, I noted in my 2007 Chairman's report that the investment was made to allow it to expand by taking advantage of a competitors demise. Like any business Hemmers operates in a moving market place where opportunities arise, and as investors Leeds is keen to maximise that value of its investment in Hemmers. A low price management buy-out would be of no benefit to any shareholder, not just smaller shareholders, and I see no reason why Leeds Board would allow the management of Hemmers to take the business away at such a price. I asked (3). unintentionally, a concert party may have developed. Many small shareholders suspect that the main reason that the LDSG share price has just bumbled along is that the main shareholders are very closely connected and may have been working in concert. Since between them they control over 30%, when do they plan to bid for our shares? and he answered · Just because my two fellow directors know each other well and between them own in excess of 30% of Leeds shares does not make them acting in concert. Nor does it place any obligation on them to make a bid for the company. Your comment about them being closely connected and the share price bumbling along just does not make sense. Thank you for your mail, and we do appreciate hearing our shareholder's views - I have shared your views with my colleagues. I can assure you that the Board of Leeds is seeking to maximise shareholder value for all shareholders, small and large. Yours sincerely Ewen Wigley Chairman I am ambivalent toward Hemmers and do not mind them putting some money in as long as the return justified the extra money. Otherwise, they should sell it and give us the cash. I do not know what to make of the people at the top. As I posted at the time I sent them the email - 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. Other than a bid I cannot see an outer. Regards, TD
the diviner: 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.
sunworshipper: share buybacks happenning all the time Date Source Company Announcement 15 Oct, 2007 Leeds Group PLC (LDSG) Director/PDMR Shareholding 28 Sep, 2007 Leeds Group PLC (LDSG) Transaction in Own Shares 21 Sep, 2007 Leeds Group PLC (LDSG) Transaction in Own Shares 20 Sep, 2007 Leeds Group PLC (LDSG) Transaction in Own Shares 11 Sep, 2007 Leeds Group PLC (LDSG) Transaction in Own Shares 03 Sep, 2007 Leeds Group PLC (LDSG) Total Voting Rights 23 Aug, 2007 Leeds Group PLC (LDSG) Transaction in Own Shares 17 Aug, 2007 Leeds Group PLC (LDSG) AIM Rule 26 31 Jul, 2007 Leeds Group PLC (LDSG) Total Voting Rights 10 Jul, 2007 Leeds Group PLC (LDSG) Holding(s) in Company 06 Jul, 2007 Leeds Group PLC (LDSG) Buy back of Own Shares 10 May, 2007 Leeds Group PLC (LDSG) Interim Results 30 Mar, 2007 Leeds Group PLC (LDSG) Total Voting Rights 08 Mar, 2007 Leeds Group PLC (LDSG) Directorate Change 07 Mar, 2007 Leeds Group PLC (LDSG) Share Buy-Back 28 Feb, 2007 Leeds Group PLC (LDSG) Total Voting Rights 27 Feb, 2007 Leeds Group PLC (LDSG) Total Voting Rights 21 Feb, 2007 Leeds Group PLC (LDSG) Transaction in Own Shares 19 Feb, 2007 Leeds Group PLC (LDSG) Transaction in Own Shares 13 Feb, 2007 Leeds Group PLC (LDSG) Transaction in Own Shares 31 Jan, 2007 Leeds Group PLC (LDSG) Final Results 21 Dec, 2006 Leeds Group PLC (LDSG) Total Voting Rights 22 Sep, 2006 Leeds Group PLC (LDSG) Transaction in Own Shares 11 Sep, 2006 Leeds Group PLC (LDSG) Transaction in Own Shares 08 Aug, 2006 Leeds Group PLC (LDSG) Buy back of shares 31 Jul, 2006 Leeds Group PLC (LDSG) Buy Back of Own Shares 19 May, 2006 Leeds Group PLC (LDSG) Transaction in Own Shares 10 May, 2006 Leeds Group PLC (LDSG) Interim Results 11 Apr, 2006 Leeds Group PLC (LDSG) SAR 3 -Leeds Group plc 06 Apr, 2006 Leeds Group PLC (LDSG) Holding(s) in Company 05 Apr, 2006 Leeds Group PLC (LDSG) Director/PDMR Shareholding 04 Apr, 2006 Leeds Group PLC (LDSG) Director/PDMR Shareholding 31 Mar, 2006 Leeds Group PLC (LDSG) Transaction in Own Shares 27 Mar, 2006 Leeds Group PLC (LDSG) Transaction in Own Shares 09 Mar, 2006 Leeds Group PLC (LDSG) Transaction in Own Shares 01 Mar, 2006 Leeds Group PLC (LDSG) Transaction in Own Shares
Leeds share price data is direct from the London Stock Exchange
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