We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.
| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Logistics Development Group Plc | LDG | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 11.15 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 11.15 |
| Industry Sector |
|---|
| CONSTRUCTION & MATERIALS |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 28/03/2019 | Final | GBP | 0.0476 | 09/05/2019 | 10/05/2019 | 07/06/2019 |
| Top Posts |
|---|
Posted at 22/3/2024 20:31 by lpavlou With Esken now in admin, the administrators are more likely to seek to dispose of their LDG stake to cover their fees. We need to buy them back as cheaply as we can, to increase NAV |
Posted at 13/2/2024 21:37 by lpavlou They are using LDG as a cash cow to help fund other deals. As you say the their stake increases with each buyback, but so does ours. I'm happy for them to continue the 200k buyback each day. I'm taking a 5 year view here |
Posted at 13/2/2024 11:16 by kirmich agree with you on the last one, this is the first one i don't like, mainly because of the lack of information. I view the finsbury transaction as a positive.We are a part of the Dbay Empire, i presume why the discount is this big and i fully expect LDG to be absorbed by Dbay at one point in time. But why would they rush this? They can gobble up shares at a hefty discount and increase their position with a 40% discount to the actual value. I view it the same way. Glad to see they upped to around 200.000 a day on the buyback. |
Posted at 29/1/2024 21:51 by lpavlou Now that Esken have sold the biomass business, there's very little income generating assets. The airport is going to continue to lose money and can only be funded from non core asset sales which includes property and LDG shares. They are probably waiting for 15p+ and probably 17p, but may run out of money by them. Dbay not in any rush |
Posted at 08/11/2023 12:33 by tyranosaurus It looks like LDG have taken 3.91% stake as total of DBay and Associates is 11.27%. |
Posted at 07/11/2023 19:42 by arthur_lame_stocks It looks like LDG have taken an 11% stake in TMG. |
Posted at 27/10/2023 10:04 by spob .2023 Bargain Share Portfolio constituent 10/Feb/2023 (peak offer 16.4p) This investment fund's NAV is holding up yet the share price is taking an unwarranted hit October 23, 2023 by Simon Thompson Proforma cash of £44.4mn (8.3p) in price for free Four listed holdings worth £59.1mn (11p) Finsbury Foods in a takeover situation 41 per cent share price discount to NAV Investor risk aversion is so extreme right now that there have been some disproportionate de-ratings of quality companies in the small and micro-cap hunting ground. For instance, the share price of Logistics Development Group (LDG:11.4p), an investment company managed by asset management firm DBay and one of my 2023 Bargain Share Portfolio constituents, has fallen 18 per cent since I reiterated my buy call, at 13.9p, at the recent interim results (‘Exploit this double-discounted small-cap fund’, 7 September 2023). I estimate that LDG has net cash of £44.4mn (8.3p) after factoring in £0.8mn spent on net asset value (NAV) per share accretive share buy-backs since last month’s article as well as the purchase of a further £4.8mn of shares in Finsbury Foods (FIF) (pictured). The speciality bakery manufacturer of cake, bread and morning goods is in the process of being acquired for £143mn by funds managed by Dbay. LDG now holds a 12.5 per cent stake in Finsbury worth £17.8mn (3.3p), or 29 per cent above cost. It’s not as if Dbay is overpaying. The offer is pitched on a price-to-book value of 1.13 times and values Finsbury on an enterprise valuation of £165mn. It equates to 5.2 times cash profit and 8.3 times operating profit reported in the financial year to 1 July 2023, low multiples for a business that has just reported double-digit annual profit growth and is forecast to continue growing. LDG also holds three other listed investments: 10.5 per cent stake valued at £21.2mn (4p) in Alliance Pharma (APH), a distributor of consumer healthcare and pharmaceutical products; 9.5 per cent holding worth £17.2mn (3.2p) in SQLI S.A. (FR:SQI), a leading pan-European digital transformation business; and a 2.8 per cent stake in Trifast (TRI), an international distributor of industrial fasteners, that has an open market value of £2.9mn (0.5p). -------------------- Portfolio companies, Sector and description, Group interest, Consideration paid, Fair value of stake, Fair value per LDG share. Finsbury Foods Food and cake maker 12.4 per cent equity stake £13.8mn £17.8mn 3.3p Alliance Pharma Distributor of healthcare and pharmaceutical products 10.5 per cent equity stake £33.4mn £21.2mn 4.0p Synsion Pan-European digital transformation business 9.5 per cent read through equity stake in SQLI S.A. (FR:SQI) €15mn (£12.8mn) £17.2mn 3.2p Trifast International distributor of industrial fasteners 2.8 per cent equity stake £2.7mn £2.9mn 0.5p Total holdings £62.7mn £59.1mn 11.0p Proforma cash £44.4mn 8.3p Spot NAV estimate £103.5mn 19.3p Source: LDG interim results at 31 May 2023 and subsequent London Stock Exchange RNS filings. Latest share prices for portfolio companies correct on 23 October 2023. -------------------- Strip out the group’s proforma net cash of £44.4mn (8.3p) from its market capitalisation of £61.1mn (11.4p), and the four listed holdings are in the price for £16.7mn, or 71 per cent less than their latest market valuations of £59.1mn (11p). Frankly, that’s absurd given that LDG’s NAV per share has only declined 4 per cent from 20.1p to 19.3p since the start of last month, so the portfolio is hardly taking a beating, unlike LDG’s share price. Moreover, the latest valuation of the four holdings is only slightly below the £62.7mn cost. Or put it another way, the four holdings back up almost all of LDG’s share price of 11.4p, so you are getting nearly all the 8.3p a share cash pile thrown in for free. |
Posted at 27/9/2023 04:29 by kirmich I think DBAY is doing a nice job. On the buyback side, they are getting as much shares as possible, upping our and especially their stake as cheaply as they can. The are now doing 200.000 shares a day, 1 million a week at about a 30% discount so about 1% of the outstanding shares per month (if they can continue this way) and already about 20 million or 4% of the outstanding shares cancelled.On the investing side, they now got stakes in 4 companies. SQLI, Finsbury, Alliance Pharma and Trifast. Results out for 2 of them yesterday, Finsbury and Alliance. The results for Finsbury in my mind show they aren't paying much for the entire, very well managed business. At Alliance Pharma the business is generating more cash and the outlook looks promising. I also liked them stopping the dividend stream there, debt is too costly these days. SQLI's numbers were ok, gently growing. So i think captive is a harsh word. And related to Finsbury, if LDG wanted to sell their stake on the open market (if there wasn't a takeover bid), it would crush the stock price as the liquidity was very poor, so not really agreeing with the assumption of the easily saleable shares. |
Posted at 22/9/2023 13:30 by stemis All this deal does, if it wasn't already clear, is demonstrate the LDG is a captive of DBay. They've swapped listed, easily valued, easily saleable shares in a transparent capital structure for unlisted, non-transferrable, difficult to value shares in an opaque capital structure.LDG are to receive 11,763,979 Bidco A Shares. How many total A shares are there? How many non voting B shares? How much debt will Bidco carry? It may well turn out to be a good deal, but at the moment it's easy to see why LDG shares are where they are. |
Posted at 20/9/2023 09:51 by briggs1209 Yes, need clarity.Either LDG take the cash and we get a bump in NAV and liquid assets to reinvest, or, we get locked into a private investment which will make valuation more difficult. If DBAY sell the LDG stake in FIF for cash they would presumably get their % of the profits. How it would work with payments if LDG keep the private holding in FIF? |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Hot Features
Premium
