Lighthouse Share Discussion Threads

[graham1ty] 26/4/2016 07:08

Another penny rise on no volume. 14.25p bid for no reason.

Is this now seen as "in play" ? There does not appear to have been buying ( from say Helium) that might be pushing it up ?

Not complaining !!

[trader2] 22/4/2016 10:06

9% rise on naff all volume - wassup?

[trader2] 23/3/2016 19:36

See that the LSE trading volume of AFHP amounted to 14.2K shares today.

[praipus] 23/3/2016 18:33

AFH (AFHP) sh_are price went down today as well! I would have expected a rise in a bidders share price after they pulled out of a take over. Not sure how much due dilligence was done but I understand other potential bidders can go over the findings and mull an offer:)



Agree though that LGT is one company who's share price realy could moon shot with its B-2-B/C potential.

[activeservo] 23/3/2016 12:30

I don't think the meagre takeover bid was worth the hassle of putting to shareholders.All this has been a bit of waste of time for AFH and LGT, but has hopefully been good for us with a higher support point.Next move is for LGT to keep steadily growing.

[trader2] 23/3/2016 10:08

Certainly agreed that AFH are bitter. LGT Board seem old time arrogant to me - evidenced in that they didn't put the bid to the shareholders. Also, they have small stakes. They will do better by continuing to pay themselves hansomly.

[activeservo] 23/3/2016 08:58

It's evident from the tone of today's RNS that AFH are bitter, especially after LGT pushed the share price up above their takeover bid price within a few hours of trading (effectively two fingers up at AFH). Nice move LGT.

[trader2] 23/3/2016 08:40

AFH offer withdrawn. As above - Couldn't myself see how AFH was going to fund the acquisition. LGT was too big - too much of a stretch.

[praipus] 22/3/2016 14:16

Yes seems very quiet except:

Helium's investment advisor ISPartners disclosing their holding

[graham1ty] 22/3/2016 07:11

Very very quiet here.....no opinions on increased offer ? Or other players ? Nothing more from AFH and no further response from LGT ?

[praipus] 18/3/2016 17:31

FSG got taken out a few years ago by Standard Life for a figure close to the turnover/revenue if that were the case here we could be looking at 38p a sh_are! :)

Anyone know Standards' number?

St James's Place might like to have a look too. It would broaden their routs to market.

[red army] 18/3/2016 13:26

A bit of weekend press might do the trick.

[topvest] 17/3/2016 19:18

Well interesting. My sale last week looks badly timed to say the least. Oh well, you win some you lose some. It's not a business I'm comfortable holding long term due to its poor quality, but looks like I jumped out a week or two early. Well done to everyone else!

[trader2] 17/3/2016 17:47

Anyone worked out how AFHP will fund the acquisition. They went to the market last year and raised £6m to fund acquisitions. Is this all still available, plus some, to cover the 50% of £17m they propose to fund in cash?

[amt] 17/3/2016 17:40

Needs to be all cash offer. I wouldn't take shares. Also needs to be 20p plus before I would be interested.

[activeservo] 17/3/2016 17:18

Everyone initially offers less than they're prepared to pay. That goes for everything. Given the strong response from LGT I expect any revised offer to be increased next month. If I ran a company for years and had just started to turn it around I'd expect a decent offer to get out, otherwise I'd just carry on growing the business until it was worthwhile selling. For a company such as LGT, at 12p it has only just started recovery!

[cwa1] 17/3/2016 16:49

In full:-

Lighthouse Group Plc

("Lighthouse", the "Company" or the "Group")

Response to Indicative Offer and Rule 2.10 announcement

Lighthouse Group Plc notes the announcement made by AFH Financial Group Plc ("AFH") earlier today.

The Board of Lighthouse believes that the indicative offer from AFH fundamentally undervalues the Group and its prospects, especially in the context of the Group's net cash position of £7.9 million as at 31 December 2015. Shareholders are advised to take no action.

Further announcements will be made as and when appropriate.

[sharetrader3006] 17/3/2016 16:46

RNS. The offer some significantly undervalues the company.

[trader2] 17/3/2016 14:37

Thought this interesting....

AFH structures its deal so that the deferred consideration, which is performance related, is paid from the cash by the business acquired. This has led to rapid growth in cash generation and in FY15 EBITDA (net cash generation from trading excluding non-cash, share-based payments) increased by 115% from £1.3m to £2.8m.

The upfront consideration for new acquisitions comes largely from equity issue carried out ahead of the deals (debt remains a very modest 28% of equity). To this end, AFH announced in December that it had raised gross proceeds of £6.37m (net £6.16m) through the issue of 3.8m shares at a price of 165p. With upfront consideration typically at around one-half of total consideration, and with some deals now involving equity consideration, we believe that the December raise should fund deals through 2016. The opportunity was taken to broaden the shareholder base (new shareholders included the River and Mercantile UK Micro Cap Investment Company and Octopus Investments), with the aim of enhancing liquidity down the line.

[trader2] 17/3/2016 14:19

AFHP sure are acquisitive! Most acquisitions look in the single digit £m area - putting LGT as a bigger fish for them. See that they have valued acquisitions at 14x next year earnings forecast. Say LGT do 0.75p/share next year - then 14x gives 10.5p/share (for the business) plus the cash of £7.8m. Offer of £17.43m (i.e. 13p/share)seems aligned to this.

Also AFHP and LGT seem chalk and cheese in their culture/business character. Very interesting development.

[lanzarote666] 17/3/2016 14:13

The AFH declined offer at 13p is in line with the last broker note target. With recent contract renewal and current potential in the sector fair value is around 15p in my view.

They will have to come back to the table at around 16.5p to take them serious.

GLA

[activeservo] 17/3/2016 13:39

Re the takeover news, I see LGT are playing hard to get. I think this shows their intention to continue growing the company, perhaps to make it even more attractive to future buyers.

I expect some short term share price consolidation then continued uptrend.

[lanzarote666] 16/3/2016 10:44

More likely anticipating pension changes (and more work on the back of it) in the Budget today.

News leaking or a positive reflection of the Parliament Hill contract being renewed as announced yesterday?

[trader2] 16/3/2016 08:11

Chart breakout? Wishful thinking?